Wetpaint and the Altimeter Group released a study today that confirms what seasoned communicators with several years of experience already know. Deep engagement with consumers through social media channels correlates to better financial performance. How much?

Companies engaged in social media grew company revenues by 18 percent over the last 12 months. The least engaged saw revenues sink 6 percent over the same time period.

"The closer any company is to its customers, the better, and it's hard to argue with the ability for social media to create such proximity," said Ben Elowitz, CEO of Wetpaint. "In this day and age, companies should feel much more comfortable investing in social media -- the correlation to results is so clear."

For the full summary and what it means for smaller businesses, look here.