In a Google Webmaster video from Matt Cutts, an engineer with Google, it is re-confirmed that Google does in fact use social signals from Facebook and Twitter in their search algo’s.
Matt also states that simply “beefing” up your followers is not enough, think of it as link building, you want quality not quantity. Matt states that the influence of Facebook and Twitter are mostly used in real time search results, but they are in fact being taken into consideration.
Just another reason to explore social media networking options. View Matt’s video here.