The biggest question brands are asking today is - WHAT Do I Measure?

Sorry, there is no one-size-fits-all answer here. What you measure is entirely dependent on a thorough understanding of the Social Media Landscape in your region, but more importantly, it depends on the goals and objectives you set for your business or brand in the social media/ digital space.

Here are some examples of how Measurement is related to Objectives:

1. OBJECTIVE: BETTER CUSTOMER SERVICE: Measure things that indicate customer satisfaction like positive comments/feedback, customer reviews, buzz sentiment, etc.
2. OBJECTIVE:BETTER CUSTOMER ENGAGEMENT: Fans on your Facebook Business Page, Conversations on your Facebook Wall, Followers on Twitter, Likes/ Shares on YouTube Videos, etc
3. OBJECTIVE: BRAND AWARENESS: Measure things like website traffic, buzz volume, share of conversation, search volume, etc.

Not every metric applies to every brand or situation. And it is pointless trying to measure all factors unless they help you see if your objectives are being met. My recommendation for brands is to set clear objectives for their social media presence or campaigns and then select 5 concrete metrics that are relevant to your objectives. Since Social Media Research is not an established field, you can create your own metrics that track the progress of your brand in this innovative space and give you some idea of where you stand viz. competition.