It's been argued time and time again that a business can rely on social media as its primary online presence and find success. While some businesses may do well with that online model, I’ve always leaned towards the opinion that social media should enhance an online presence rather than become a primary one.
Businesses are welcome to use as many social media properties as they'd like, but they don’t necessarily own those properties. You don’t make the rules, and you have to abide by them as they change. If the platforms decide to delete your business page based on new changes or initiatives, it just goes away. In a simple analogy, you are renting a property at low to zero cost that is not working under your authority. You don’t own it.
I prefer the business model of sticking to the roots of what the internet offered when online commerce became a thing: a well-presented website enhanced by email marketing. Social media came along, and while it is a huge marketing opportunity and in today’s world a necessary component of an online presence, these platforms should be considered branches from the stable presence of a dedicated website with strong roots and the time-tested marketing strategy of email marketing.