Short answer, yes (for those of you in a hurry!).
Long answer, - if you're asking this question, please read on! A simple breakdown of the three most popular social media platforms currently in use may make you rethink your hesitance to use them. Facebook is the big fish in this bowl, with over 2.07 billion monthly active users*. This number, by far and away, outstrips all the others in popularity. Instagram and Twitter, also well known social media platforms, maintain a distant 2nd and 3rd ranking; however, depending on your preferred demographic target, this may not be a deciding factor where to focus your business presence.
I'm also sure there are quite a few small to medium business entrepreneurs out there who have a Facebook or Twitter account and will disagree about the efficacy of this medium. I know you. You have an FB business page that you opened two years ago, didn't properly fill out the profile form or talk about why you are in business or your passion for your product, and after a few terse posts, it now languishes on the internet's "Forgotten" bandwidth shelves! Running your business has taken too much of your time to bother with something that doesn't work - right?
What if I told you that with consistent, attention grabbing posts, your ratings on FB, Instagram, or Twitter would rise, and consequently, an increase in business? Knowing your audience, - niche or not, - is also a big plus. Who do you want as a customer? Where do they live? What do they eat? drink? What are their leisure time pursuits? Why do they need your product/services? It's focus like this that helps you decide what to put out there, and if you do it consistently, they'll respond.
And on that note, knowing that my average customer does not have loads of time, I will end this post. Hope it helped!
*Source: Facebook 11/01/17