I don't really pay much attention to Klout actually. And its funny because that's one of the most used tools I see.
Followerwonk is great for tracking and analyzing follower lists. I also use Hashtags.org for Twitter. You can research the popularity of the hashtags you're using to open your tweets up to a larger audience (..and you ARE doing that right, ? :)) Hashtags.org also shows when the most people are searching for your hashtag term.
I work in Fashionbi and I will recommend for all the Fashion Companies to use it.
Fashionbi is a complete Digital Marketing tools for the Fashion Industry, it is really easy to use, and it allows you to discover, compare and follow facts and data in the Fashion Industry. You can get useful insights like:
If it helps any our app monitors Klout Kred and Peer Index on the social influence side of things and it also tracks where you rank in google for your targeted search phrases. It puts it all on timeline graphs and you can overlay it with Action Notes of anything you have done like: press releases, blog posts, email campaign etc etc .
You can then see very simple Cause and Effect. You can see what digital marketing you are doing is having the greatest effect.
Its free if you want to give it a go: http://bit.ly/yodelay or https://itunes.apple.com/gb/app/marketing-monitor/id503499041?mt=8
Let me know how it goes
We use a combination of Google Analytics and Hootsuite for most of our management of social media at this point :)
Google Analytics is the best FREE tool available for measurement. If you blog, use bitly stats as well.
Hootsuite is a good place to start - it's free, you can generate traceable short links, and you get a weekly performance report straight to your inbox. I suggest using it for 6 months or so before looking to get more into social media...
Klout is a great tool to measure social media performance against your peers. As to monitoring tools, I've used Jive and I've recommended Jive for other consulting clients. Jive is cost effective and efficient to use. Good luck!