Our favorite SEO team over at SEOmoz.org posted this SEO Pyramid whiteboard Friday video almost 2 years ago, but it still applies very much today.
This still shows that "Content is King" and has been since the web began in the 1990's. (or whenever Al Gore invented the internet)
In today's time, the only real way to grow and expand your online initiatives is to continue to build your content "base". At some point, all of the Research, Link Building and Social Fundamentals will reach a point of limiting returns. When you have reached that stage, it will be necessary to expand the base wth new content. As this is done, the pyramid can grow. Then the goals of website can expand and your business can continue to grow.

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