"Our top competitor isn't blogging or using Facebook -- so why should we? They're very successful without it."
My answer: Because this is a vulnerability of your competitor. You can take advantage of their cluelessness about social media. You can be better than your competitor.
Slavishly imitating a competitor is a sure way to destroy your own business. That successful competitor may be bankrupt a year from now. They may be doing many things right, but some things wrong, and if you imitate the things they do wrong, you'll suffer for it.
A consultant like myself will analyze the competitor and find the Achilles heels.
I fear that the 3 main reasons a business resists promoting themselves on Facebook or a blog are:
(1) They just don't care about customers as people with needs. Customers are just wallets that open. They don't want to engage in conversations with them, or provide their expertise to them. They just want to customers to spend money, without the CEO having to have any human warmth or social interaction with them.
(2) They think "if we build it, they will come." That silly phrase is used to justify not having SEO and not blogging. So their website just sits there, with nobody coming to it. They don't understand that Google wants to see fresh, original, relevant, frequent content -- not a static website with sparse content, no News page, no new information.
A blog is a great way to grind out fantastic content, that Google will take into consideration when driving customers to websites that seem relevant and up to date.
They don't understand the marketing power of blogging, they don't want to spend time writing blog posts, they aren't good writers, or they don't want to pay someone to write good blog posts for them.
(3) They believe in old fashioned media, like TV and radio commercials. They don't understand how wasteful those investments can be. They don't understand that their customers are on Facebook and are influencing each other about what to buy.