Concepts and the theories related to social media are discussed in this chapter. This chapter talks about the various frameworks of social media for the use of organizations in developing social media framework with the business objectives. Definitions and guidelines in respect of social media metrics are mentioned in this chapter. Further it suggests the methods in choosing the right metrics for the key social media objectives in respect of canvassing or product launches. A new Social media metrics framework has been suggested and also the metrics have been identified for each framework group. This Chapter will help Organizations in identifying the key social media metrics for tracking and monitoring the measurement of the performance of one's brands, products, and services in the social media channels. Once the key social media metrics are identified, organizations can choose the right tool to measure the metrics defined. This would help Organizations to improve or enhance their marketing and operational business strategies by leveraging the power and reach of the social media channels. The future directions for research and the references indicated in this chapter would be of great help to researchers in the area of social media metrics.