Most companies measure basic social media metrics like number of followers, traffic, and mentions. However, there is a push to measure more meaningful metrics that track engagement, referrals, conversions, and customized goals for each business. The document discusses measuring six key social media metrics: 1) gross views, 2) connections, 3) audience engagements, 4) social media referrals, 5) social media conversions, and 6) personal engagements. It also promotes measuring customized metrics specific to each company's business and goals.