Truth In Advertising
Social media needs an interpreter. I've never read a more true statement than, "fans and followers have not value as a stand alone number". That statement is correct in particular and in general.
Web metrics are best used as part of a modeled system of Key Performance Indicators (KPIs). KPIs should inform actions. If you are monitoring something and NOT changing your Internet marketing based on what it says (in some way and don't forget numbers that make up your ecosystem and so inform action) then stop measuring it.
The distance between your KPIs and action should be short. The time it takes to take action can be long, depending on the KPI, but creating informed action is why you measure and this post explains HOW to measure social media.
No article can tell you exactly how to measure SMM for your business since how you segment and group is usually highly individual, but this post can help you get started. Metrics are magical and can keep the financial gatekeeper bears at the door, but only measure what has meaning and create that meaning from your modeled ecosystem.