PERSONAL LIBRARIES - Stanford University

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18 Νοε 2013 (πριν από 4 χρόνια και 1 μήνα)

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PERSONAL LIBRARIES


WEEK 6

Channel & Pivot


Class & Mentor Feedback Addressed


Is
your customer the "customer from hell"? Is there really a
paying customer here
?



Are
you going to investigate the knowledge / document
management market
?



Customers
, customers, customers


start to model them

GOOD News

Search Engine Optimization

Wikipedia


Wiki article prepared


Generate more references
before publication


Bloggers


Contacted 25+ bloggers who
cover reference
management software


Positive responses from 2
already


Others pending
reply


Peaya

reviewed (in Dutch)
as one of the best
applications on ADOBE AIR.

A/B results declared a WINNER

Winner!


We learned:


1.
Position against leading paid
software


2.
Reference institutions at which
our software is used


3.
Stuff navigation to other sites at
way bottom of screen


4.
Winning variation has 58.7%
conversion

Keyword Search Volume

301,000
document management


60,500 document
management systems

49,500
document management system

40,500
document management software

12,100 electronic
document management

6,600
sharepoint

document management

110,000
pdf

notes

9,900
annotate
pdfs



2,400
pdf

document
management


1,900 add
comments to
pdf


1,900
pdf

sticky notes

< 1,000 searches

share
annotations

share
pdf

notes

research
annotation

publish your research

share class notes

share
pdf

notes

60,500
pdf

library

40,500
pdf

manager

8,100
pdf

organizer

6,600
pdf

manager software

1,900
manage
pdf

library

1,900
pdf

download manager

1,600
pdf

library management

1,000
pdf

page organizer

< 1,000 searches

Web
-
based PDF manager

cloud
pdf

library

foxit

pdf

organizer

online
pdf

storage

pdf

organizer software

pdf

file organizer

40,500 research software

1,000
medical research software

27,100 collaboration software

5,400
document collaboration

2,400
research management software

2,400
online collaborative software

1,900
collaboration software online

< 1,000 searches

web
-
based co
-
authoring

co
-
author research software

online
collaboration
software

5,400 Share research

1,900
research sharing

< 1,000 searches

share
pdfs


research
co
-
authoring software

< 1,000 searches

Clinical research software

Comparison of existing demand for relevant keyword “silos”

Lifetime Value of User

Acquisition Cost:

$83

User Purchases:

$100/yr

Profit Margin:

70%

Churn Rate:

30%

Discount Rate:

8%

TOTAL VALUE:

$92

33,000 Impressions


167 Clicks


33 Downloads


1 Payment


Conversion

Funnel

NOT SO GOOD News

Channels aren’t encouraging

Discussions


Sales


Ex
-
Sales Manager, EBSCO,
academic database
aggregator (complementary service)


CEO,
iParadigms
,
established Higher Ed sales org
for plagiarism software


Ex
-
CEO,
Veritas
,
highly experienced managing
enterprise sales orgs


Co
-
marketing opportunities


CEO,
ResearchGATE
, 0.7M researcher SN


Founder, LabMeeting.com, SN for researchers


BDM for RIM on co
-
marketing Peaya for Playbook


University Community


Head of Research, Stanford Neuroscience


Med
School Reference Librarian


GSB Reference Librarian


GSB Library
Director


Director of SIPX, course reader printing system




Takeaways


Academic market is terribly small
(EBSCO sales $300
-
$6K, quotas
~$350
-
400K/annually)


High volume academic site
license over $1
-
2/user unrealistic


Cost of reaching lab managers
prohibitive


Despite poor economics, many
niche competitors


Academic software is a “dinosaur”
business


Richard the Researcher

Salary: $10,000
-
$40,000/year

Postdoc, grad student

First author on research papers, tunnel vision


Needs


Overwhelmed with research readings


Spends too much time authoring papers


Coordinate 4
-
20 researchers per manuscript


Purchase Power


Asks manager for part of $1K annual IT budget


“I need tools that work with the journals that I want to
publish in and cite from. I prefer things that are free. I
like managing everything either in email or in folders on
my PC.”

Reference Management Persona

Moving Forward

BioMed

Reference
Manager

PDF Organizer

Document
Manager?

Can we win in Document Management?

2009 Revenue:

$3.5B

growing 4.9%


(Gartner)

Sources:


Gartner Magic Quadrant


SharePoint Product
Manager


Web Research

Elements:


Document Management


Records Management


Workflow


Social Content


Web Content Management


Extended Components

SEM Tests

Document Management may be a large market,

but it is
extremely

competitive to buy clicks for this term

…and dominated by large incumbents

Advertiser Competition

Concept 1:
Freemium

Adam the Analyst

Salary: $80,000
-
$200,000/year

Pre/Post
-
MBA; manager; analyst; lawyer

Ultra busy, upwardly mobile professional


Needs


Works in short to medium team projects


Craves industry
-
specific research


Writes memos, reports and presentations


Purchase Power


Expenses $99 without worry on AMEX


“I have zero time. I want to find better ways of
doing things, but don’t want to learn new tools.
Whatever I use, it has to work 100% of the time, or
I’ll drop it like a garden gnome.”

Steve the Student

Salary: $5,000
-
$40,000/year

Undergrad, grad student

Busy student, rushing from class to class


Needs


Fast + cheap course readers & textbooks


Easily access and share materials


Collaborate on projects


Purchase Power


Spends $250
-
2000 on materials/year


“It’s always a mad rush for course readers and
textbooks at the beginning of a term… I wish there
was a better way to stay organized for class, and in
groups”

Edward the Executive

Salary: $110,000
-
$350,000/year

VP, Managing Director, President, C
-
level Exec

High stakes decisions, lives in review meetings


Needs


Fast consumer of information


Asks piercing questions to cut through BS


Needs to know what to trust


Purchase Power


Gets organization what they need


“I need my people to have the right tools and
processes. I need systems robust enough to
survive churn, yet flexible enough to be seamless.”

Ivan the IT Professional

Salary: $60,000
-
$110,000/year

CIO, Director of IT, VP Ops, COO, IT Manager

Manages IT budget and staff


Needs


Make business users happy


Simplify number of IT vendors and apps


Lower IT costs per user


Purchase Power


Manages IT budget of $500
-
2000 per user


“I don’t want people using tools that create security
holes, or give them the ability to walk out of the
company with corporate assets. I want people to use
apps approved by my department so we know how to
support users when they call us.”

Document Management Archetypes

Adam the Analyst

Salary: $80,000
-
$200,000/year

Pre/Post
-
MBA; manager; analyst; lawyer

Ultra busy, upwardly mobile professional


Steve the Student

Salary: $5,000
-
$40,000/year

Undergrad, grad student

Busy student, rushing from class to class


Edward the Executive

Salary: $110,000
-
$350,000/year

VP, Managing Director, President, C
-
level Exec

High stakes decisions, lives in review meetings


Ivan the IT Professional

Salary: $60,000
-
$110,000/year

CIO, Director of IT, VP Ops, COO, IT Manager

Manages IT budget and staff


Document Management Archetypes

Influencer

(Single License)

Buyer

(Single License)

Influencer

(Site License)


Decision
Maker

(Site License)

Concept 2: Document Management & Marketplace

Steve the Student

Salary: $5,000
-
$40,000/year

Undergrad, grad student

Busy student, rushing from class to class


Needs


Fast + cheap course readers & textbooks


Easily access and share materials


Collaborate on projects


Purchase Power


Spends $250
-
2000 on materials/year


“It’s always a mad rush for course readers and
textbooks at the beginning of a term… I wish
there was a better way to stay organized for
class, and in groups”

Document Manager + IP Market Place
Value Proposition

Integrated Personal Library with
Print
-
on
-
Demand

Promise

Get course reader

materials printed
faster and more conveniently, plus
digital copies easily organized in
your personal digital library

Differentiation

Only

solution offering simple, cost
effective way to organize both
printed and digital course
materials; moreover, get ratings,
tips and commentary from
classmates sharing readings

Evidence

Course

materials imported to PC
and sent to printers in 60 seconds

Cost

10% processing fee included in
copyright & printing costs
--
includes
cost of credit

card processing,
returns, customer support, etc.

Risk

Poor quality printing, data loss,
issues with installing personal
library software

Effort

Install personal library software,

sign
-
in, and import classes and
materials

$1B US Retail

147% ‘09 CAGR

$12B Legal

$4B Scientific/Academic

$2.5B Healthcare

18M Higher Ed US

7.3M Researchers WW

Corporate and
Personal

Most of Internet

~0.75M units/year US

TBD

TBD

1.2M

Providers and consumers of copyrighted material have unmet pain points

PAIN POINTS:

Piracy


Pricing pressure


Slow growth

PAIN POINTS:

Lack of tools


High cost


Inaccessible materials

Providers

Public Content

Private
Content

eBooks

Commercial
Content
Databases

Self
-
Publishers

NEEDS


Usage Data

Demand Data

Pricing
Framework

Licensing
Mechanism

E
-
Commerce

Fulfillment

IP Controls

Auditing

NEEDS


CONTENT

Verifiable fact

Data

Figures

Analysis

Ontology

Citations


CAPABILITY

Search

Private Catalog

Collaboration

Discovery

Rating



Consumers

Students

Academics/
Researchers

Non
-
Profit
Analysts

Commercial
Analysts

Legal Service
Providers

Content
Aggregators

TBD

NEEDS


CONTENT

Verifiable fact

Data

Figures

Analysis

Ontology

Citations


CAPABILITY

Search

Private Catalog

Collaboration

Discovery

Rating



Marketplace

Consumers

IP Exchange

Shared Library

Admin Tools

Students

Academics/
Researchers

Non
-
Profit
Analysts

Commercial
Analysts

Legal Service
Providers

Content
Aggregators

PARTNERSHIP

Alliance
Network

Partner
Infrastructure


DISTRIBUTION

SEO

Invites

Social Media


CHANNELS

Direct via Web

Client Experience

Resellers

Site Licensing

Printing

A unified copyright marketplace serves unmet needs across segments

BENEFITS:

Monetize piracy


Increased revenues


Growth via new markets

BENEFITS:

Effective tools


Affordable pricing


Broader selection

Providers

Public Content

Private
Content

eBooks

Commercial
Content
Databases

Self
-
Publishers

NEEDS


Usage Data

Demand Data

Pricing
Framework

Licensing
Mechanism

E
-
Commerce

Fulfillment

IP Controls

Auditing

Catalog

API

Middleware

Personal Library

Sizing and Trends in Commercial Database Market

~$12B Legal

~$4B Scientific
& Academic

~$2.5B
Healthcare

Thank You

Business Model Canvas