There's a lot of advice out there about social media for businesses. So much, in fact, that it's hard to pick out what you should read, and it can be really overwhelming! So, here's some no-nonsense advice from me, and a couple links to other social media advice that's worth the read.

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My advice is this: No, you don't need to be active on all social media channels. More is not always better! In this case, it can hinder your social media success.
Think carefully about which platforms are going to be best for your business. Which ones will you be able to reach the right audience on?
The platforms you choose are completely dependent upon your business and your industry. In general, here's a rundown of each social media network.
Network
|
Audience
|
Content that does well
|
Facebook |
Wide & varied: middle-aged, college-aged and youth. |
Nothing too industry-specific. Fun, sharable, informative. |
Twitter |
Also wide & varied, but more and more popular with youth. Fair amount of business professionals (depending on industry). |
Can get more industry-specific here. Great place to discover information & news. Wide variety. |
Pinterest |
Mostly women, 20s-40s. |
Very image-based. Tips, hacks, recipes, inspiring images, beauty, etc. |
LinkedIn |
Professionals & job-seekers. |
Industry-specific, business-related content that offers interesting or valuable info. |
Google+ |
Not much of an audience here. |
Really, all you have to do is claim your Google My Business page and post an update every so often that's relevant to searchers' interests. |
Instagram |
Milennials & younger. |
Inspiring images, fashion, food, human interest |
Now, pick one or two that are relevant to your business and really work on that/those. Claim your profile on the others but don't put precious time and energy into them. However, do keep an eye on them weekly - you don't want to something bad to happen on an account and leave it unatteneded. Take a look at a previous tidbit, "A Huge Social Media Yikes."
Now, as promised, some articles that are worth a read:
What is a social media strategy, and how do I make one? - ArcStone Blog
Using Social Media for Business Growth in 2015 - SproutSocial
A Beginner's Social Media Guide for Small Business - Social Media Examiner
Why Businesses Can't Survive Without Social Media - Fortune
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