Social media platforms offer access to a huge marketplace where brands and businesses can promote/sell products, services, and events to their audience. They offer an excellent opportunity for networking, selling and generating new business, and can be used to create the virtual voice of your business that you wish for your audience to identify and engage with.  It's important to choose platforms that work well for your product/service type, and remember to incorporate your social media into websites and marketing literature to maximise your reach.