Creating a lead magnet is one of the most powerful ways to generate leads and grow your business. But a common struggle many business owners face is figuring out what to offer. The secret? It’s not always about what your prospects need—it’s about giving them what they want. Let me share a couple of stories that illustrate this idea and show you how to create a lead magnet that truly attracts and engages your audience.
Story 1: Turning a Mortgage Stand into a Gold Mine of Leads
Years ago, when I owned a mortgage broking business, we participated in the Home Show as exhibitors. But here’s the thing: You can’t sell mortgages to people who are strolling through a trade show. In fact, most people see a finance stand and deliberately avoid it, fearing they’ll get sold to. Sound familiar?
So, we needed to think outside the box. I asked myself: What do people coming to the Home Show really want?
We were in Wellington, New Zealand, where it’s often cold, wet, and windy. Many locals dreamed of escaping to the sunny Gold Coast in Australia. So, I decided to offer them a chance to win something they wanted—a free trip to the Gold Coast.
We set up a bright sign saying “Win a Free Trip”, hired a cauldron and smoke machine, and dressed one of our team members as a wizard. Kids were instantly drawn to the wizard and smoking cauldron, dragging their parents over to our stand. What parent doesn’t follow their curious child? They asked, “What is this?” and we replied, “We’re mortgage brokers—here’s a form to enter for a free trip to the Gold Coast.”
Before we knew it, queues formed at our stand. People were happy to fill out entry forms, and human curiosity took over—others joined the queue just to see what the buzz was about. Over that weekend, we collected 2,500 to 5,000 leads.
When we followed up with those leads, they remembered us as the stand with the wizard and cauldron, making it easy to start a warm conversation and book appointments.
The lesson? We didn’t focus on selling mortgages right away. We gave people something they wanted—a holiday! Then, after they were engaged, we could talk to them about what they needed—our mortgage services.
Story 2: A Bookkeeping Firm’s Unexpected Lead Magnet
Here’s another great example, this time from a bookkeeping firm on the Gold Coast. When asking their clients what they struggled with most, the answer wasn’t bookkeeping or compliance. It was marketing. Many small business owners, like their clients, found it hard to generate leads.
Instead of pushing their bookkeeping services, the firm created something their clients wanted—marketing exposure. They started a podcast where they interviewed their clients, produced the episodes, and provided them with social media content, edited transcripts, and the full audio file.
The result? Other businesses started asking how they could be on the podcast, and the firm’s response was simple: It’s for our clients. Businesses started signing up for bookkeeping services just to get the marketing benefits of being featured on the podcast.
Clients got what they wanted—marketing exposure—and the bookkeeping firm could deliver what they needed—accurate bookkeeping and compliance services.
The Big Takeaway: Think About What Your Audience Wants
When creating a lead magnet, think about what your audience truly desires, even if it’s not directly related to what you sell. Give them something irresistible that gets their attention, and you’ll open the door to conversations about what they really need—your product or service.
Here are some questions to help you brainstorm your lead magnet:
- What does your target audience want right now? Is it knowledge, entertainment, an experience, or a solution to a different problem?
- How can you package that into something easy to deliver—like a free guide, entry into a competition, or exclusive content?
- How can your lead magnet naturally lead into a conversation about the product or service they need from you?
Remember, it’s not about tricking people into engaging with your brand. It’s about providing genuine value upfront, building trust, and then showing how your business can solve their deeper needs.
Ready to Create Your Lead Magnet?
If you’re struggling to figure out what to offer as a lead magnet, start by thinking about what your audience really wants. It doesn’t always have to be directly related to your product—it’s about getting people in the door and building a relationship from there.
Once you’ve engaged them, you can help them see the value of your products and services.
Need help crafting the perfect lead magnet? Download this free guide to learn how to create a high-converting lead magnet that builds trust, attracts leads, and helps grow your business!
