Yes. When a search engine ranks your website, it considers the links that are present around the Internet that click back to your website. Depending on your number of links and which websites they are on, your website will be assigned an authority. By having a presence on social media, you have a way to share your links and hope others will share them even further, giving you more authority. Search engines also monitor and take into account your presence on social media including your number of followers, how often you post or tweet, whether your website has social sharing buttons, and more.