Online marketing (not strictly SEO) is a lot about engaging with your customers through the media they are consuming; its about being where they ‘hang out’.
SEO concerns itself with the search channel, eg Google results, where web users are generally far more likely to be looking for products or services.
Many other social media channels exist, Facebook, Twitter, Google Plus, YouTube etc and having an engaging presence on these channels is the next step up. Note that engagement rates are far lower, but it is still worth the effort if you can afford the time.
An interesting social channel that has been developing over recent time is Pinterest. This is a social channel where people share pictures they like. It might me interesting products, craft items or anorexic or muscle bound celebs. I think its meteoric rise to popularity is all a bit of a flash in the pan, but that when things settle (and millions have lost millions in ridiculous stock market valuations) it will still be there. And you should consider whether you should be on there as a business.
If you have a highly graphical product (craft products, bathroom tiles, cute birds of prey) then you should be on Pinterest sharing those images. And you should have ‘pin this’ buttons on your website to help people share you products themselves (one of the goals of social media). Pinterest have recently acknowledged business use of their initially restricted system and now welcome them to join them. Find out more here: http://business.pinterest.com/.