Although it doesn't have any weightage on ranking, social signals cannot be ignored in terms of branding. No popular brand is still functional without active social media accounts.
So long it's relevant it's a positive attribute for your website. You gotta understand that a lot of folks here are looking for do-follow sites, but most of them don't pay enough attention to keeping a balanced link profile which is very important.
Google is focusing too much on making money, especially with the new CEO around. Google cannot be all profit-driven or it will have to risk losing its market share to DDG, Yahoo or Bing. I think the new CEO doesn't get it straight.
It's just a clash between old ways of marketing VS googles user first policy. Those of you offering products and services must focus on creating a brand, and stop recklessly procuring links. Links are integral part of SEO but Google is upvoting links that are considered signals against those...
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