Does Social Media Marketing Work?

I am a newcomer to social media. 

Writing blogs and posting on social media as forcing me to come out of my shell and become more extroverted. This is definitely not been easy for me however; I have received some good feedback on my articles. I have received multiple sales calls. I have “met” quite a few people in the industry that are far more knowledgeable than I am and I have even received a couple hate emails. 

What I have not received as of yet is any business.

I'm not sure if it's because my view is extremely shortsighted or if it is my own ignorance and lack of aptitude for this medium but I am interested to know if you receive any business from your social media marketing. As a newbie, I am curious. 

What kind of resources do you use?

I don't want you to think that the only thing I care about is bringing in new business because, in fact, it is not that high on my priority list. However it is on the list. 

The company that I'm currently employed at has asked me to oversee all aspects of their marketing which includes social media and it is the use of social media that has me feeling like a fish out of water.

I really enjoy writing a blog. It's something you never thought I would enjoy. However, I have found it extremely enlightening to reread my own postings. It's very similar to reading a journal only this Journal is commented on by the general public.

I am extremely old-fashioned and barely know how to log into my Facebook account but it seems to me that social media is very impersonal but, I am being told on a daily basis, that social media is the new frontier and is a new Holy Grail of attracting business. 

What is your take on this?

Am I really that old fashion to think that Sales is more about relationship selling than the product?