Acquire, Synergize, Dominate
1. Franklin Covey co-founder Hyrum Smith saw natural synergies between Franklin Quest Co. and Covey Leadership Center, which led him to buy Covey. One such synergy was to offer a course based on Covey’s best-seller, “The 7 Habits of Highly Effective People,” through Franklin Covey stores, catalogs and the Web site. Lesson learned: Any marketer should determine what content can help sell more of its products.
2. What Franklin Covey missed was using content from “The 7 Habits” and other Covey books in the catalog itself to give the book more shelf life. Lesson learned: If you own it, incorporate some branded content into your catalog and Web site.
3. The courses offered by Franklin Covey are designed to cross-sell the planner product and the Covey messages. All the activity helped Stephen Covey stay visible between books. Lesson learned: Have a content source with legs, a source that can keep on producing. Then help that source maintain a level of visibility with the target audience.
4. When Franklin Covey became a market leader, it said so. But before it was the market leader, it became the niche thought leader and also said so. Lesson learned: Develop enough content to claim the high ground in your niche as the thought leader; then say so.
Mark Amtower is a consultant and author in Highland, Md. You can find him at www.federaldirect.com.