You don’t need another report filled with likes, impressions, and click-throughs that go nowhere. Vanity metrics might look good on a dashboard, but they don’t pay salaries, close deals, or scale your business. If you’re serious about growth, it’s time to stop tracking what’s easy and start focusing on what actually drives revenue—your lead gen KPIs.
In a high-CAC, hyper-competitive market like Singapore, every marketing dollar counts. You’re operating in one of the most digitally saturated regions in Asia, where ad space is expensive, buyer journeys are fragmented, and the pressure to prove ROI is relentless. You can’t afford to waste budget chasing surface-level engagement while ignoring the metrics that move leads through the funnel and into your pipeline.
This article is your no-BS guide to fixing that. You’ll learn how to zero in on the right lead gen KPIs at each stage of the funnel, align them with real business outcomes, and avoid the common traps marketers fall into when tracking performance.
No fluff, no filler—just the KPIs that matter and how to make them work for you.
Key Takeaways
- Tracking lead gen KPIs only drives growth when each metric is aligned with its corresponding funnel stage and tied to a clear business objective. Without strategic alignment, even accurate data becomes meaningless.
- Attribution models like first-click and last-click offer limited visibility in complex customer journeys, so marketers in Singapore should adopt data-driven or multi-touch models to make smarter budget decisions across channels.
- Effective lead gen reporting isn’t about tracking more data, but about focusing on fewer, high-impact KPIs through clean dashboards and reliable tools that integrate marketing and sales insights in real time.
The Core Lead Gen KPIs: MQL, SQL, CPL, ROAS, and LTV
Image Credit: Landingi
If you’re measuring everything, you’re optimising nothing. The smartest marketers in Singapore don’t drown in dashboards—they focus on a handful of lead gen KPIs that actually predict growth. Here’s what you should be tracking and why it matters at every stage of your funnel.
Marketing Qualified Lead (MQL)
An MQL is a lead that’s engaged enough to show buying intent—but isn’t ready for sales just yet. Think: Someone who downloaded your whitepaper, signed up for a webinar, or visited your pricing page multiple times.
How to calculate it: No complex formula. It’s about setting clear criteria based on behaviour (e.g. email open rates, form fills, site actions). Tools like HubSpot or Marketo can score leads automatically.
Why it matters: MQLs sit at the mid-funnel—they signal demand before a rep gets involved. In Singapore’s B2B landscape, where sales cycles often exceed 90 days, MQLs help marketing prove early-stage return on investment (ROI) and forecast pipeline.
Sales Qualified Lead (SQL)
SQLs are leads your sales team believes are worth pursuing—budget, authority, need, and timeline (BANT) checked. You’ve moved from interest to intent.
How to calculate it: It’s not math—it’s alignment. You define SQLs with your sales team, using criteria like decision-maker status or scheduled calls.
Why it matters: This is the bridge between marketing and revenue. In Singapore, where many B2B firms struggle with handover friction, tracking SQLs ensures marketing doesn’t stop at lead volume—it delivers sales-ready opportunities.
Cost Per Lead (CPL)
Your CPL tells you how efficient your lead generation efforts really are. It’s the cornerstone of paid acquisition.
Formula: CPL = Total Spend on Campaign / Number of Leads Generated
Why it matters: Singapore’s digital ad costs are increasing every year. According to Singapore Business Review, digital ad spend is expected to increase by 6.3% in 2025. If you’re not obsessing over CPL, you’re burning budget without knowing it.
Return on Ad Spend (ROAS)
This is your north star for paid campaigns. It tells you how much revenue you’re earning for every dollar spent on advertising.
Formula: ROAS = Revenue from Ad Campaign / Cost of Ad Campaign
Why it matters: ROAS answers the one question your C-suite actually cares about: Is paid media profitable? It’s especially critical in high-CAC markets like Singapore, where even a small inefficiency in spend can wipe out margin.
Case study: A Singapore SaaS company was spending ~S$20,000 per month across Google and LinkedIn. Their CPL looked healthy at S$60, but ROAS revealed a deeper issue—most leads were free trial signups that never converted.
After shifting their ad copywriting strategy and targeting toward bottom-funnel actions, ROAS improved by more than 65% in 3 months.
Customer Lifetime Value (LTV)
LTV helps you understand the long-term value of your customers—vital when justifying high upfront acquisition costs.
Formula: LTV = (Average Revenue per Customer) × (Gross Margin %) × (Customer Lifespan)
Why it matters: You can’t scale confidently unless you know how much a customer is worth over time. If your LTV isn’t at least 3 times your customer acquisition cost (CAC), you’re on shaky ground.
In subscription-based businesses—especially in Singapore’s B2B tech sector—this ratio is the difference between profitable growth and a leaky funnel.
Quick Reference: KPI Impact by Funnel Stage
| KPI | Stage | Focus | Short or Long-Term |
| MQL | Middle | Engagement and Interest | Short-Term |
| SQL | Bottom | Sales Alignment | Short-Term |
| CPL | All | Cost Efficiency | Short-Term |
| ROAS | Bottom | Revenue from Ads | Short-Term |
| LTV | Post-Sale | Long-Term Profitability | Long-Term |
Bottom line: These aren’t just numbers—they’re levers. Track them religiously, optimise them aggressively, and align them across teams. That’s how you stop guessing and start scaling. Want to know which KPI your funnel’s leaking through? That’s what the next section is for.
Attribution Models: First Click vs Last Click (and Why It’s Not That Simple)
You’re running Meta ads, Google Search campaigns, email follow-ups, maybe even LinkedIn retargeting—and leads are rolling in. But here’s the question most marketers get wrong: Which channel actually deserves the credit? That’s where attribution models come in. They help you understand what’s working—and more importantly, what’s actually driving conversions.
The Basics: What Is Attribution?
Attribution is how you assign credit to the touchpoints a customer interacts with before converting. It’s your map of the buyer journey. Get it wrong, and you end up pumping budget into the wrong channel. Get it right, and you unlock the real drivers of ROI.
First-Click vs Last-Click: Why Most Marketers Pick the Wrong One
| Model | Pros | Cons |
| First-Click | Great for identifying top-of-funnel drivers like awareness campaigns | Ignores every interaction after the first click—misleading for long journeys |
| Last-Click | Simple, widely used (default in many ad platforms) | Overweights final touchpoint (e.g., branded search) and undervalues earlier efforts |
Most platforms default to last-click. But in a real-world scenario—like a Singapore buyer clicking a Meta ad, reading 3 blog posts, signing up for your email, and then Googling your brand—last-click gives all credit to search, erasing the journey that made the sale possible.
Case Study: Singapore SME Juggling Meta + Google
A local F&B tech startup was targeting restaurant owners across Singapore. Meta ads were generating strong interest—video views, clicks, engagement. But conversions seemed to spike on Google Search. Their team was close to killing Meta spend—until multi-touch attribution revealed that Meta was consistently the first touchpoint that drove users into the funnel. The conversion just happened later on Google.
After switching to a data-driven attribution model in Google Analytics 4 (GA4), they realigned budgets and messaging—and saw an increase of more than 40% in overall ROAS in two months.
What You Should Do
| Short 2C cycles | Last-click might be fine. |
| Long B2B cycles or multi-channel journeys | Go multi-touch or data-driven. |
Additional tips:
- Use GA4 or tools like HubSpot or Segment to customise your model.
- Audit attribution quarterly—as your funnel evolves, so should your model.
Did you know? 76% of marketers say they struggle to connect marketing activity to revenue because of poor attribution. If you’re still trusting last-click to make budget decisions, you’re optimising based on half the story. Attribution isn’t just analytics—it’s strategy.
Funnel Alignment: Mapping Lead Gen KPIs to Each Funnel Stage
Let’s be clear: Your funnel isn’t a checkbox—it’s a strategy. And if your KPIs aren’t aligned with each stage of that funnel, you’re not optimising performance, you’re guessing. Too many marketers in Singapore track metrics in isolation. Cost per thousand (CPM) goes up? Panic. Email sign-ups slow down? Blame the campaign.
But here’s the truth: Every metric only makes sense in context of where your lead is in the journey. Alignment is what transforms scattered data into strategic decisions.
Stage-by-Stage Lead Gen KPI Breakdown
Image Credit: Zapier
Awareness (Top of Funnel)
Here, you’re buying attention. Your goal is visibility, not conversions—yet.
Track:
- CPM (Cost Per Mille): How expensive is it to get seen?
- CTR (Click-Through Rate): Is your creative doing its job?
- Website Visitors: Are you attracting web traffic that are qualified leads?
Pro tip: In Singapore’s competitive digital space, average CPMs on Meta range from S$5 to S$15, depending on targeting. If you’re paying more, you’d better be getting clicks.
Consideration (Mid-Funnel)
Now it’s about engagement. Your audience is aware—you need to capture their interest.
Track:
- MQLs: Who’s showing real intent?
- Email Sign-Ups: Are you building a list worth nurturing?
- Webinar Attendance: Are your content marketing efforts converting curiosity into interaction?
Pro tip: Use lead scoring tools (like HubSpot) to track engagement touchpoints and identify hand-raisers before they ghost.
Conversion (Bottom of Funnel)
This is where intent turns into action—and budget meets results.
Track:
- SQLs: Are you delivering leads sales can close?
- ROAS: Is paid media turning a profit?
- CPL: Are you acquiring affordably?
- CAC: Is the total cost to acquire sustainable?
Retention and Upsell (Post-Sale)
Revenue doesn’t stop at conversion. The most profitable businesses win on repeat business.
Track:
- LTV: How much is each customer worth?
- NPS (Net Promoter Score): Will they refer or churn?
- Repeat Purchases: Are you monetising loyalty?
Stat to remember: Increasing retention by just 5% can boost profits by 25 to 95%.
Funnel-KPI Alignment Chart
| Funnel Stage | Primary KPIs | Purpose |
| Awareness | CPM, CTR, Website Visitors | Measure visibility and relevance |
| Consideration | MQLs, Email Sign-Ups, Webinar Attendance | Track engagement and interest |
| Conversion | SQLs, ROAS, CPL, CAC | Evaluate sales-readiness and ROI |
| Retention or Upsell | LTV, NPS, Repeat Purchases | Optimise long-term profitability |
Bottom line: You can’t optimise what you don’t align. KPIs are more than just numbers—they’re signals. Map them to your funnel properly, and you’ll stop reacting to metrics and start controlling outcomes.
Tools and Dashboards to Track Lead Gen KPIs Efficiently
Image Credit: Search Engine Land
Let’s be real—if your lead gen KPIs live across five platforms and three spreadsheets, you’re not tracking performance. You’re wasting time. The smartest marketers in Singapore know that how you track is just as important as what you track. A clear, unified dashboard doesn’t just make reporting easier—it gives you and your leadership team the clarity to act fast and pivot smart.
Tools That Actually Work (and Play Well Together)
Here’s what top-performing businesses in Singapore are using:
| HubSpot |
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| Salesforce |
|
| GA4 |
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| Looker Studio (formerly Data Studio) |
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Pro Tip: Use Looker Studio to create a live dashboard combining paid performance (Meta, Google Ads), website actions (GA4), and lead flow (HubSpot or Skale).
Local CRM Integrations to Consider
- Skale: Built for Southeast Asian SMEs. Easily integrates with GA4 and Facebook Lead Ads.
- SleekFlow: Popular with ecommerce and service brands—seamless WhatsApp and social CRM support, plus KPI tracking by conversation.
Tips for Building Dashboards the C-Suite Will Actually Read
- Keep it clean: No more than 6 KPIs per dashboard
- Break it down: Create views by funnel stage or campaign type
- Automate updates: Pull data directly from source platforms
- Add context: Use targets or benchmarks (e.g. CPL < S$80) to show performance at a glance
Suggested Dashboard Layout:
| Dashboard Type | Key KPIs to Include |
| Executive Summary | CPL, ROAS, SQLs, LTV, Revenue Generated |
| Marketing Overview | CPM, CTR, MQLs, Conversion Rate |
| Sales Pipeline | SQLs, CAC, Deal Velocity, Close Rate |
Bottom line: When your dashboards are this clear, you stop explaining your value—and start proving it.
Common Mistakes Marketers Make with Lead Gen KPIs
Image Credit: Champion PSI
Tracking KPIs isn’t just about collecting numbers—it’s about knowing which numbers to trust. But too often, marketers in Singapore fall into the same traps: Over-reporting, under-analysing, and optimising based on flawed data. Let’s break down the biggest mistakes killing your lead gen performance—and what to do instead.
Mistake #1: Tracking Too Many KPIs with No Prioritisation
If your dashboard looks like a data buffet, you’ve already lost. Every KPI you track should tie back to a clear business question. Otherwise, you’re just reporting noise.
Pro tip: Focus on 5 to 7 KPIs max that map to your funnel and goals.
Mistake #2: Ignoring Sales Feedback or Offline Conversions
Your KPIs don’t live in isolation. If marketing is generating “qualified” leads that sales keeps rejecting—or if deals are closing offline and never reported—you’re not seeing the full picture. Alignment isn’t optional; it’s essential.
Pro tip: Sync weekly with sales to validate lead quality.
Mistake #3: Misattributing Leads Due to Flawed Tracking Setup
If your tracking breaks at the form fill, or your CRM isn’t talking to your analytics tools, you’re flying blind. Misattribution can lead to wasted spend and wrong strategy calls. Audit your setup regularly.
Pro tip: Use GA4, HubSpot, or Segment to ensure clean, connected attribution.
Mistake #4: Failing to Revisit Benchmarks Over Time
Markets shift. Channels change. Benchmarks that made sense last quarter might be useless today. Yet too many marketers stick to outdated CPL or ROAS targets out of habit—not logic.
Pro tips:
- Review benchmarks quarterly, not annually.
- Build KPI alerts to flag when metrics go off-course
When you fix these common errors, KPIs stop being a vanity scoreboard—and start becoming your growth engine.
Lead Gen KPIs Are Only Powerful When Paired With Action
Image Credit: Agency Analytics
Lead gen KPIs mean nothing on their own. You can have beautiful dashboards and perfect attribution, but if you’re not using that data to drive smarter decisions, it’s just decoration. Real success comes when you turn insights into action—when your CPL tells you where to invest, your SQLs tell you what to improve, and your LTV justifies scaling faster.
That only happens when you stop tracking everything and start focusing on the right metrics that align with your funnel and business goals. If your current reporting doesn’t lead to better strategy, it’s time for a reset. Consider doing a KPI audit to identify what’s working, what’s noise, and what’s missing.
Or better yet, collaborate with a trusted agency like MediaOne. Call us today and let’s work together to build a lead gen KPI tracking framework designed for growth—not guesswork.
Frequently Asked Questions
What is the difference between a lead and a conversion in marketing?
A lead is a potential customer who has shown interest in your product or service, such as by filling out a form or signing up for a newsletter. A conversion is when that lead takes a desired action that aligns with your business goal—like making a purchase or booking a consultation.
How often should you review your lead gen KPIs?
Ideally, you should review your lead gen KPIs on a weekly or bi-weekly basis to stay responsive to performance shifts. However, deeper analysis—like evaluating CAC or LTV trends—should be done monthly or quarterly to avoid reactive decision-making.
What KPIs are most important for measuring lead quality?
To assess lead quality, focus on KPIs like SQL-to-MQL ratio, conversion rate from lead to customer, and lead-to-close velocity. These metrics help you determine whether the leads you’re generating are actually moving the needle on revenue.
How do lead gen KPIs differ for B2B vs B2C businesses?
B2B lead gen typically prioritises longer-term metrics like SQLs, CAC, and LTV due to extended sales cycles and higher-value deals. B2C marketers may focus more on high-volume, short-term KPIs like CTR, CPL, and conversion rates for quicker campaign optimisation.
Can lead gen KPIs be automated in reporting tools?
Yes, most modern platforms like GA4, HubSpot, and Looker Studio allow automation of lead gen KPI reporting through custom dashboards and real-time data pulls. Automation ensures consistency, reduces manual errors, and frees up time for analysis and strategy.
