Small companies tend to forego getting their own websites because they think social media is a cheaper alternative. To differentiate a website and social media, we need to get into the features, purpose and effectiveness of each one.
A Corporate website is very much like your 24/7 office. It is a representative of you and what your company stands for. These can offer a lot in terms of features: recruitment, official updates, product and service offerings, e-commerce, etc.
In terms of Marketing, we can fully show the world our brand and how we project our brand. This is also where businesses can open up new business alliances and partnerships.
Social Media, on the other hand is where most of the market is. But that being said, does not necessarily mean a conversion to sales. Social Media is a tool fo disseminating information, for sending people to your corporate website, for getting the feel of the market. Unfortunately, unless the Social Network offers a way to provide “verified” accounts or accounts that are deemed by the social network as that belonging to the actual company itself, going this way, could make or break the company. In recent times, there are cases of fake accounts, fake news, etc.
So the best thing to do, really, is to create your own Corporate Website. Let Marketing have their fun with Social Media. But we still need a formal, verifiable, credible and real go-to place for our loyal and prospective consumers and business partners.