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Is Social Bookmarking submission is beneficial for generate traffic?

Yes, definitely social bookmarking is very useful to get more traffic as well as for branding.
 
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Social bookmarking submission is a good source to bring traffic. Considering the other methods this is the safe method for doing off page SEO.
 
It's one way of getting quality backlinks for your own website as many social bookmarking sites offer DoFollow backlinks, so target them first. It also helps you build authority of your page by creating your own community there and engaging with your targeted audience.
 
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