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It cannot be one of the two, it has to be both!
When SEO marries SMO (we call it a perfect marriage), twins are born - High rankings and Huge traffic!
Google considers social media reputation while accrediting rankings. This means, the more presence you can give on the social media sites, the higher the chances that your SEO will progress.
Every business has a sales and marketing plan because every business owner knows that without sales they have no business. But if you know that sales are important, why is it that you still feel deep down in your soul that you are wasting money every time ...