For a graph $G$, a subset $S\subseteq V(G)$ is called a resolving set of $G$ if, for any two vertices $u,v\in V(G)$, there exists a vertex $w\in S$ such that $d(w,u)\neq d(w,v)$. The Metric Dimension problem takes as input a graph $G$ on $n$ vertices and a positive integer $k$, and asks whether there exists a resolving set of size at most $k$. In another metric-based graph problem, Geodetic Set, the input is a graph $G$ and an integer $k$, and the objective is to determine whether there exists a subset $S\subseteq V(G)$ of size at most $k$ such that, for any vertex $u \in V(G)$, there are two vertices $s_1, s_2 \in S$ such that $u$ lies on a shortest path from $s_1$ to $s_2$. These two classical problems turn out to be intractable with respect to the natural parameter, i.e., the solution size, as well as most structural parameters, including the feedback vertex set number and pathwidth. Some of the very few existing tractable results state that they are both FPT with respect to the vertex cover number $vc$. More precisely, we observe that both problems admit an FPT algorithm running in time $2^{\mathcal{O}(vc^2)}\cdot n^{\mathcal{O}(1)}$, and a kernelization algorithm that outputs a kernel with $2^{\mathcal{O}(vc)}$ vertices. We prove that unless the Exponential Time Hypothesis fails, Metric Dimension and Geodetic Set, even on graphs of bounded diameter, neither admit an FPT algorithm running in time $2^{o(vc^2)}\cdot n^{\mathcal(1)}$, nor a kernelization algorithm that reduces the solution size and outputs a kernel with $2^{o(vc)}$ vertices. The versatility of our technique enables us to apply it to both these problems. We only know of one other problem in the literature that admits such a tight lower bound. Similarly, the list of known problems with exponential lower bounds on the number of vertices in kernelized instances is very short.