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I don't think that's true. The reason SEO is hurting is because google is trying to increase their revenue by increasing the space that ads and their own widgets take up. SEO, Social (both micro and macro), Email, Paid Ads are all different viable types of marketing. The best strategy is to find a good balance of multiple items. You can build a large company on SEO alone. You can build a large company on social. The best companies seem to be the ones in multiple channels. The only long term sales channel that really matters at all is word of mouth. Customers directly getting other customers for you. Every other channel is hyper competitive.