Vanity Metrics vs. Real Growth

"MQLs are up!" But pipeline isn’t. Too many B2B teams focus on metrics that look good on dashboards but don’t translate to revenue.

To scale a go-to-market engine that drives real growth, you need to track the right KPIs—the ones tied to outcomes, not just activity. Here’s what high-performing teams measure (and what they skip).

Metric 1: SQL Rate (MQL to SQL Conversion)

What it is:
The percentage of marketing-qualified leads (MQLs) that become sales-qualified leads (SQLs).

Why it matters:
This is your lead quality signal. High MQLs with low SQLs? That’s misalignment. This metric shows if your targeting and messaging are attracting real buyers.

Benchmark:
Aim for 60%+ SQL rate if sales and marketing are aligned.

Tip: Review SQL rate by campaign and channel. Optimize what's working.

Metric 2: Pipeline Velocity

What it is:
The speed at which leads move through the funnel to closed deals.

Formula:
(Number of opportunities) x (Average deal size) x (Win rate) / (Sales cycle length)

Why it matters:
Pipeline that moves faster means better forecasting and revenue predictability. Slow velocity? Look for friction in handoffs, messaging, or decision cycles.

Tip: Track velocity by vertical, persona, or region for deeper insights.

Metric 3: Conversion Rates (Per Stage)

What it is:
Conversion percentages from one stage to the next—landing page to form fill, email to reply, demo to deal.

Why it matters:
These micro-conversions reveal where you’re losing potential revenue. It’s where optimization happens.

Examples:

• Landing page: 20%+

• Cold email reply: 10%+

• Demo to deal: 30%+

Tip: Start A/B testing stages with the biggest drop-off.

Metric 4: Revenue Influence

What it is:
The percentage of closed revenue tied to a specific campaign, channel, or program.

Why it matters:
Not all campaigns generate pipeline. This metric shows where to invest more—and what to cut.

Tools:
Use CRM and attribution software to map touchpoints to revenue.

Tip: Prioritize multi-touch attribution to avoid over-crediting top-of-funnel efforts.

Bonus: Ignore Vanity Metrics

Metrics that don’t tie to revenue:

• Page views

• Social likes

• Email open rates (track replies instead)

Why?
These can indicate interest, but without conversion, they’re just noise.

Real-World Example: Metrics in Motion

A B2B SaaS client tracked MQL volume but struggled to hit sales targets. We introduced SQL rate and pipeline velocity tracking, revealing poor lead quality and slow handoffs. After refining ICP and messaging, their SQL rate jumped 25%, and sales cycle shortened by 15%.

Conclusion: Measure What Matters

The right GTM metrics fuel smarter decisions, faster growth, and better alignment. Don’t just track what’s easy. Track what drives revenue.

At PlusFigaro, we help B2B teams build dashboards and systems that surface real performance—and scale what works.

Want to track smarter, not harder? Let’s talk.