Not exactly. Social media marketing is done to enhance the online traffic while Reputation management is about taking few steps that aim to raise the bar of online reputation of a company. Usually reputation management is applied to get out of the sea of damages or negative reputation that is created due to poor customer feedback, wrong information etc.
Social media marketing is way to eliminate the distance between your potential and loyal customers while reputation management deals with knowing what is creating a gap between the company and its prospects, and further detaining those factors, to cross out the negative impact.
Social media marketing is done to attract more traffic by engaging readers through inviting content, images and videos. When a corporate message is spread through social networking sites, it travels from user to user and creates acceptance because it comes from the third party.