"Website sessions are up, but conversions are down": leading vs. lagging indicators in SaaS marketing
Understand which key leading and lagging indicators you need to be tracking and form the basis of a successful marketing function.
Gabriel Uzcategui
Early-stage SaaS companies default to asking for “more leads” because it feels like the easiest lever to pull. Just spin up a campaign, scrape a list, and blast out some emails.
In the short term, it looks like progress. But it’s almost always a distraction from the real issue: they’re not talking to the right people, in the right way, at the right time.
Below, you'll see why more leads doesn’t equal more growth, and how context builds the kind of pipeline that actually closes.
Lead volume feels cheap. Context feels expensive.
Good lists, intent data, and buyer research take time and upfront investment. So, teams often skip the research and flood the top of the funnel instead.
This is especially common in early or less-mature markets, where there are few active buyers, little competitive benchmarking, and limited data to work with. In those environments, activity feels like the only lever you can pull. But it often reveals a deeper issue: a short-term mindset.
When companies default to chasing volume, they stop thinking like builders and start thinking like marketers running a promotion. Instead of building a durable engine for growth, they build noise.
If you're in a broad, low-ticket, high-velocity market, flooding the funnel may work in the short term. But if you're selling to a mid-market or enterprise segment, especially in a mature or competitive market, volume-first tactics can erode your brand quickly.
You’ll burn through your best-fit accounts early. You’ll become noise. And your team will spend their energy chasing unqualified leads. In tight markets, execution must prioritize signal over volume, quality conversations, account-level insights, and shared context between sales and marketing.
Companies that optimize for volume without context don't just waste money; they also miss opportunities. They damage their ability to scale later when it matters most.
Scaling without context is like building a pipeline on sand. You might get MQLs, but they churn, burn your team out, and drain resources.
Especially for early-stage SaaS companies in immature markets, scaling low-quality leads is one of the fastest ways to stall growth. You need to build early momentum with the right customers. Those who align with your ICP, who’ll give you feedback, stay with you, and turn into advocates. That’s what gives you defensibility later.
When you start with context:
Context isn't a luxury for when you "have more time." It’s what makes scale possible without wasting your first market impressions.
In my experience, leads alone don’t build pipeline. Context tells you why someone might actually care and why now.
A go-to-market (GTM) motion is the way your company approaches the market to generate pipeline and close deals. It includes how you identify prospects, engage them, and move them through the funnel, from first touch to closed won.
If your GTM motion feels stuck, it’s often because you’re chasing contacts instead of purchasing signals. In other words, you're prioritizing activity over insight, trying to move fast in a market that hasn’t shown it’s ready.
In immature or early-stage markets, context isn’t optional. It is your GTM strategy. You’re not selling into an established category with active buyers. You're building trust, relevance, and awareness from the ground up. That means your outreach has to reflect what’s actually happening inside accounts, not what your lead list says.
When you lack context, your motions feel like:
With high-levels of context, your motions feel like this:
In mature markets, where categories are known and buyers are already shopping, you might be able to close sales with a high volume of leads. But even if you can use volume, context would still make a difference to stand our from competitors.
When we look at a company whose market isn't there yet, context is your only real differentiator. The shift from “how many touches?” to “who’s ready, and why?” changes everything.
Pipeline isn’t about how many leads you can show on a spreadsheet. It’s about whether your opportunities can actually turn into customers, and whether those customers stick around.
A quality pipeline today looks like:
It’s easy to chase lead quantity. It’s much harder but far more valuable to build pipeline discipline from the start.
Early-stage teams can’t afford to spray resources everywhere. If you can only bet on one thing, bet on context.
Start with a focused list of strategic accounts, also known as Tier A accounts. Learn everything you can about them. Who’s hiring? Who just raised funding? What technologies are they using that signal a fit? What new challenges might they be facing this quarter?
Good leads just give you names. Good context tells you who might actually be ready to buy, and how to start the right conversation.
If your growth strategy starts with “we need more leads,” stop and ask: More of what?
Early-stage teams often chase volume because it feels like momentum. But the companies that scale efficiently aren't the ones who flood the market first. They’re the ones who build clarity before they build volume. They don’t just fill the funnel. They build a foundation.
That foundation is context.
Context is what fuels execution that actually converts. Especially in early or less mature markets, where you’re not just building a pipeline; you’re building playbooks. You’re learning who’s a good fit, what they care about, and what makes them move. That’s what makes scale repeatable later. Volume doesn’t teach you that. Context does.
When in doubt, slow down and add context first. You’ll move faster in the moments that count.
Building pipeline isn’t about more leads. It’s about the right motion for your stage, your market, and your ICP. That’s where Kalungi comes in.
Kalungi is a full-service B2B SaaS marketing team built for growing companies. We help founders build context-first GTM strategies, execute fast with an experienced team, and scale pipeline without burning through your best-fit accounts.
If you’re ready to stop chasing volume and start building meaningful traction, let’s talk.
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