"Don’t waste two to four hours a day on Twitter and call it lead generation. It’s the same as watching soap operas."             
-- Chris Brogan
Certainly, social media matters -- but it's not the ONLY thing that matters.  The biggest problem with social media is that it can be a time-waster, and your Klout score notwithstanding, it's still difficult to track and measure the impact you're having.  Not impossible, but not easy, either. Most brands need the whole package:  even a pure online play will need to show up at targeted events from time to time!  That requires a skill set that is more than online-focused.  Most brands cannot Tweet their way to the bottom line.