Social media is quickly becoming a primary communications channel for business, but most marketers consider themselves unprepared to accurately measure the effect, according to a study by Forrester Research. 

A total of 119 interactive marketers were surveyed in May and June, 2009. When asked how proficient at measuring social media they felt themselves to be on a scale of 1 to 10 ( with 10 being "expert"), the average response was only 4.5. When it came to direct marketing, that number rose to 6.3. 

Traditional interactive metrics such as clicks, impressions and registrations fall short of accurately measuring a social media campaign, according to the study. More qualitative analysis is recommended, including surveys, focus groups and listening platforms. 

New tools are being developed to get a better handle on consumer response to social media campaigns, tying interactivity of social media to concise metrics such as purchasing behavior. Using the two-way communication medium of blog posts and group forums will help marketers gauge consumer opinion in this venue as well. 

There is no doubt that social media is a phenomenon, and that it will take its place in the marketing mix. However, it is no substitute for existing forms of public relations, including traditional media channels. In fact, social networking and media campaigns work best when combined with credible media exposure.