I can say personally that this has worked for me (to a certain extent) with Twitter. I've found that I'm more likely to purchase something from someone I've interacted with, or to bookmark their website to buy from later. I'm also more likely to attend events I receive Facebook event invites for (in the case of local films).
There's a lot to be said for finding your customer, being personable, and making it easy for them to purchase your product or service.
Of course, the opposite end of that spectrum are the sellers who are so annoyingly persistent with their updates and tweets that you just want to un-follow them as quickly as possible!
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