Yes, I have a website. Does anyone ever look at it? Probably not.
As for what the most effective way of engaging with people is, I don't think it's the platform that matters. Although there are probably some demographic related preferences for example, the kind of people who like my music tend to be on facebook (cos they're old like me!)
Instagram, facebook, soundcloud,
THIS FORUM (don't forget, we're social media too!), it's how you use it that counts. Being savvy enough and persistent enough to seek out your audience, connect with them, and keep them interested is the key. Making good music/ recordings is only a small slice of that.
As Paul
@Wicked Deeds said, being a musician for money is a dead end for most people. Virtually all of my successes have come from networking or gigging. Simply putting up content and expecting people to find it is hardly worth the effort.
But aren't we all here for the love of it first and foremost?
(it would be nice to eat occasionally, however :p )