Google has no way of measuring incoming traffic from any web site, other than when a site owner uses Google Analytics, which Matt Cutts has said that they do not use. There are a lot of people who do not believe him. Using Analytics data would be a bit unfair anyways, because only a relatively small percentage of web site use Google Analytics.
Social media is good for driving traffic, but if you believe what Matt Cutts says, they are not currently using most social media for anything related to rankings. He has already denied their use of Twitter, FaceBook, Google Plus and Google+. This was after he spent the last two years encouraging people to use these sites.
YouTube is the exception. He has not addressed that and I agree that YouTube is probably the one social media site that does directly influence search results because is is all under Google's control. A few years ago I did a study on how YouTube videos get chosen to appear in Google search results. What I found is that you have to get the video to rank well within YouTube first and then it will show up in Google results. The right Keywords in the title, the description text, tags, views and likes all play a role within YouTube. That in turn affects the videos that Google selects for their organic search results.

Originally Posted by
firetown
And the more people share stories from my Facebook page, the higher the page seems to rank in Google itself.
You may find that your FaceBook page is ranking well because it is well done and people are linking to it, and not because of factors within FaceBook. Plus, good quality content still plays a role in FaceBook, just like it does in any web page. All Google is saying is that they have not found an effective way to use FaceBook social signals to influence rank positions.

Originally Posted by
Andy101
Hmm, maybe the completely boring/nerd image that the Google Hangout squad are portraying is not helping much in the social aspect either? I don't want to watch their video, or hangout with them on initial impressions.
The two characters in the video are geeky, plus the video itself is way-yy-y-y too long. At 38 minutes it violates just about every rule for making a good informational video. I hope these guys are not going to replace Matt Cutts when it comes to answering questions. Whether you agree with him or not, Matt has a certain attitude that makes his videos easy to watch.
"It's inexcusable for scientists to torture animals; let them make their experiments on journalists and politicians." -Henrik Ibsen
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