Why I advise to be present on Wikipedia?

So, a few years back a friend of mine, who was successfully running his own business, came to me with a problem. He wanted to make his credibility and reputation better in the market and boost his sales. Now, from what he told me he had already used all the traditional ways of marketing and still there was no significant increase in sales. So, I told him to try Wikipedia. Surprised he asked me again create a Wikipedia page for my business? And I said yes because it would have helped him make his reputation better. Did I give him the right advice?