Leading Indicators
Corey Quinn
Founder, Deep Specialization™
A list of leading marketing indicators, from awareness to SQLs, versus the one lagging indicator that actually matters: revenue. The role of marketing is to grow it.
List of leading indicators in marketing:
→ Awareness
→ Share of voice
→ Ratings and reviews
→ SEO ranking
→ Impressions
→ Online community growth
→ Engagement
→ Organic traffic
→ Website visitors
→ Clicks
→ Webinar attendees
→ Email open rate
→ Content downloads
→ Leads
→ MQLs
→ SQLs
→ CTR
→ CPC
List of lagging indicators in marketing:
→ Revenue
Takeaway: the role of marketing is to grow revenue
Frequently Asked Questions
Why are metrics like awareness, impressions, and engagement considered leading indicators?
Because they measure activity and interest that happens before revenue is realized, they signal potential future outcomes rather than confirming actual business results on their own.
Why is revenue the only lagging indicator listed here?
Because revenue is the actual outcome all the leading indicators are meant to eventually produce, it's the confirmation of results rather than a signal of activity leading up to them.
Why does distinguishing leading from lagging indicators matter for evaluating marketing performance?
Because leading indicators can look impressive without necessarily translating into revenue, understanding the difference prevents mistaking activity for actual business impact.
What's the risk of focusing too heavily on leading indicators without connecting them to revenue?
Marketing can appear productive on paper, strong engagement, good CTR, growing community, while failing to actually drive the lagging indicator that matters most, revenue growth.
What's the core takeaway from this comparison of leading and lagging indicators?
That the role of marketing is to grow revenue. All the leading indicators exist in service of that ultimate outcome, not as ends in themselves.
About Corey Quinn
Founder, Deep Specialization™
Corey helps founder-led agencies scale through Deep Specialization™ and programmatic M&A. Former CMO of Scorpion ($20M to $200M). Author of "Anyone, Not Everyone."
