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Do social media links matter for SEO?

Many social bookmarking sites have made most outgoing links "nofollow" for some reason.

As for links on social media being good for SEO, it's how users interact with your content that counts. If you get many likes, retweets, pins, etc then Google will reward your site with better rankings. However a link shared on social media that gets no response will have ZERO effect on your rankings.
 
Every company/business with an online presence should be using social media due to the power it has. The search engines know this so rank content based on Social Media as well as other things
 
While looking over the infographic one thing in particular caught my eye: the importance that companies and agencies alike place on social media when thinking about their SEO strategy.
 
oday, links are mainly achieved through developing original content that is in turn, shared across social media. Links to your content on Facebook, Twitter, LinkedIn, Google+, YouTube and other social networks help the search engines understand what websites are credible and should be ranked for what keyword phrases.
 
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