Coca-Cola and its partners are pitching a new measurement framework, Universal Media Measurement (UMM), to help marketers compare the effectiveness of paid, owned, earned, and shared media on a single scale. The framework was developed through a collaboration between The Coca-Cola Company, Top Line Marketing, and Kantar. The tool was presented at a World Federation of Advertisers (WFA) Media Forum session in Stockholm last month, signaling that the effort is being positioned for broader industry use. The Drum reported that UMM has been in development for about seven years and is already being used by Coca-Cola marketers in more than 20 countries. What UMM is supposed to do The UMM website says that the tool is designed to “place all media under a similar language and measurement system,” so marketers can compare consumer touchpoints under the same basic criteria.…