Yes, you should definitely go for social media marketing.
Social media marketing is one of the best platforms to increase brand awareness and increase traffic to your website. But it is not directly connected with website ranking. The activities that are carried out on social media platforms like sharing links on Twitter, Facebook and Pinterest may help your brand get more exposure, but they aren’t seen by Google as a ranking signal. Now, here’s the thing: even though social media is not a ranking factor on a superficial level, it has significance if you look deeper. Indirectly, it does have a positive effect on a page’s ranking. So yes, there is a definite correlation between a site’s position in the SERPs and the number of social signals it has. If you study the websites that hold top-ranking positions in Google, you will find many of them having strong social signals. So, if you are investing in social media marketing, then you are in essence also improving your chances of performing well in the search engines.