Today I clicked a link to a story on Jezebel that I wouldn't have seen if you hadn't linked to it on Facebook. Let's say four of your other "friends" followed the link. I also shared the link so let's say that five of my "friends" followed, the link as well. That's ten impressions that Jezebel would not have had but for Social Media. Let's also say that some of our circles of friends also 'shared' the link and that some of their 'friends' also followed and shared the link as well.
All of those impressions are cataloged by Google and will show up in Jezebel's analytics. I also believe that they are added to the site's (Jezebel's) popularity in the Search Engine Algorithm. And so, when someone goes to Google and does a search for ~that story~ it will rise to the top of the search results, unless of course, another News site with better (YUCK!) Page Rank and as many or near as many impressions is already ahead of Jezebel in SE listings.
This from Matt Cutt's blog is similar to the way I think things work though not exactly the same scenario. I had to dig for it, so I didn't go any further back to find a better example.
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