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We’re still in the early days of the adoption of social media at the enterprise level. It’s the new, shiny object everyone knows is important yet can’t exactly pinpoint its full power or effect on the bottom line.

Because we don’t all have it figured out yet does not mean we should freak out and go nuts over measurement. There can be no doubt results and measurements that show the effectiveness of what we do is vital to long-term success for our clients, companies and employers.

That said, the companies that jump in with good strategy and are willing to deal with the squishiness of the metrics will perhaps succeed the most. They’re showing they’re not afraid to experiment and iterate. That’s important.

If I had a dollar for every time I heard the question “is it ROI positive?” related to social media, I’d be retired. Despite the wide adoption and growth of social media and social networks with the consumer, many still have doubts and focus on the cost vs. the benefit.

For profit businesses must always keep an eye on spending and where they should maximize resources. That could also lead to the premature abandonment by some of these important intiaitives because measurement isn’t moving as fast as some would like.

My point here is not to argue those in organizations that use and participate in social media should have blank checks. It is not a channel you win in by just throwing money at it. We have to justify – by showing results – what we’re spending and how we’re doing things that lead to an improved bottom line. We have a long way to go to do that and the clock is ticking.

As with any emerging trend, it takes time to figure it out and then show complete monetization. Fortunate for some, we work in companies or with clients that get that and are willing to invest based on trust and incomplete data.

Our advertising brethren will be the first to figure it out. Their social results will be tied to eyeballs that convert to units. That’s great and needed but the true value of social will come from customer-driven content about product experiences and day-to-day conversation. Like public relations before it, social media will be tough to measure accurately.

This honeymoon period for social will not last forever. Business in 2010 is not business in 1980. You have to prove performance, and prove it fast. New business models demand it and the marketplace is now built for speed.

This is going to take time and we need to allow it to. It has to be strategic and it has to be done right. Standards will emerge as will best practices that really work.

Until then, let’s all relax and be patient. Just not too patient.

Scott Gulbransen is the Sr. Manager of Public Relations/Social Media for Intuit’s TurboTax brand. Follow Scott on Twitter @prgully or email him at scott@shamable.com. His personal blog, where he also writes about public relations and social media, can be found at www.scottgulbransen.com. Gulbransen is also a prolific Dad blogger and can be read on the EveryOtherThursday.com blog.