I may be an outlier :-)
Many things on social media can be tracked - and it depends on your end goal to determine what should be tracked.
What's the business goal? If it's sales - that's trackable just like any other ecommerce funnel. If it's growing an audience - very easily tracked. If it's brand awareness - again, easily tracked. ( I can go on all day... )
The challenge is to actually engage. Just posting content ( paid, photo, longform text, video, whatever ) is not enough to get a real client relationship.
Yes engaging 24x7 is a logistical nightmare - but it's also amazingly effective.
I've been doing this for a while, happy to talk with you about it.