You should read the Occam’s Razor blog’s post about measuring social media. It suggests that you try to measure social media interactions as conversations, amplifications, and applauses from your readers.
We’re all trained to view Media as a place to broadcast our messages. But if we start measuring a two-way dialogue like this post suggests, it’d be a fundamental shift of marketing — and business in general — for the better.
PS: The good news is that your competitors haven’t gotten there yet — the metrics Avinash’s post suggests aren’t readily available. If you’re really luck, maybe your competitors are still wondering what the “economic value” of social media is!