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Since IOTA transaction is free of fee, so it's useful for transferring messages and files with it (compared to, for example, Ethereum that in case of the use of a String, the transaction will be very expensive.)
Now the question is: that how many characters we can transfer in a transaction as a message (maximum)?
When you want to send data via MAM, you have to encode the data in a specific way. The encoded data will be inserted in the signature/message slot of your transaction (0-value txs don't need any signature).
This means that you can put as much data as this protocol allows you to. I'll put here a youtube video about MAM (the guy doing these tutorials is pretty good, you should check out his other videos too).
Moreover you'll have to convert your strings into trits: every character is converted into two trytes as it is explained here.
I hope this helped!
