BISG's MIP for Higher Ed - ROTH, jade
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Transcript of BISG's MIP for Higher Ed - ROTH, jade
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Textbook Marketing & Student Choice in a Time of Transition
BISG – February 5, 2011
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Students are the most dynamic and engaged retail consumers
Ever-increasing technological expectations in an on-demand world
Desire for consistent multi-channel experiences – in-store, online, mobile
The Changing Collegiate Retail Landscape
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Formats are: new, used, rental, digital
Content is: Multi-media, multi-source, open-source, text, audio, video, faculty-generated, student-generated, social sharing
Distribution is: in-store, on-line, mobile
Access expectations are: in class, at home, in the dorm, in the café, on any device
The Changing Textbook Landscape
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229,000 unique titles adopted Over 224,000 of the 229,000 titles had demand of fewer than
1,000 units
16% of the titles used by faculty do not have ISBNs
22% of these were custom titles
24,000 of these titles had a digital option 10% of titles used by our faculty
2.5 million adoptions collected
7,661 unique publishers represented
Types of Textbooks Used Today
2010 by the Numbers
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Do Prefer Demand
65% Compare prices
60% Purchase all required
32% Share
22% Skip
16% Swap
11% Photocopy
50% Used
21% New/used combo
14% New
5% Rentals
3% eTextbooks
Convenience
Value
Choice
Text
book
s
Source: Student Monitor LLC and Barnes & Noble company research
What students…
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Source: Barnes & Noble company research
Do/would do69% Consider price when choosing a textbook
72% Would support giving students a choice of renting a book for all or some of their
courses
42% Would be more inclined to submit their adoptions to the bookstore if rentals were
an option
54% Would consider using the same book for a period of two years if it meant a rental would be availableTe
xtbo
oks
What faculty…
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Student & Bookstore Affinity
0
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10 9.23
8.257.9
7.6 7.41
6.28
2.1
3.8
7.98.2 8.2 8.6
5.6
6.9
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Choice, Convenience, Cheap
Providing new, used, rental, digital – in-store and online
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NEW$100
USED$75
RENTAL$49
DIGITAL $40
Student Savings
The numbers behind the options
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Textbook Rentals
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Textbook Rentals
2/3 of Barnes & Noble Stores now offer textbook rentals
Students save more than 50% off new textbook price
Students rent in-store and online
When offered a choice, 30% of student choose rental
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etextbooks
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eTextbooks & NOOKstudy
All Barnes & Noble Stores offer eTextbooks
Students save up to 60% off the new textbook price
Student can preview etextbooks with 7-day free trial
Students purchase and rent etextbooks in-store and online
When offered a choice, 5% of students choose digital
This percentage is growing rapidly
e-TEXTBOOKS GROWTH
We have seen a significant increase in digital sales this
year.
14% of students
have purchased a digital product as part
of their studies.
The general acceptance of digital reading for pleasure is bleeding over to higher education
content.
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Student Reasons for Purchasing eBooks
Savings is the primary factor
Sole option -- Only way to obtain the textbook [out of stock, preference by the professor, custom PDF type eBook that the professor created for sale].
18% of students who purchased an eBook did so because they enjoy the features.
10% of students who purchased an eBook did so because they had never used one and were curious.
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Solutions designed to meet users’ needs Goal is to create a better learning experience
Organizational and study tools are student requirements
95% of students have access to PCs & MACs
eTextbook and eResources Sales are projected to be 20% of Higher Education Sales in 2016
Higher Education Digital Strategy
A free, downloadable software solution expressly designed for
learning
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Innovative Software
Features most important to students:
Search within and across content
Annotation/highlight and sharing of notes
Downloaded texts over online access - Flexibility of where and when they can access their books
Integration with other course content including lecture notes, professor guidance
NOOKstudy lets students study smarter, not harder
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Overall research conclusions
Given the opportunity, students are willing to experiment with reading and studying digitally.
When students do read and study digitally, results indicate that they find it as effective or more effective than studying with the physical book.
When students do read and study digitally, their responses to usability of features shows that their expectations are high. Expect basic features to be as good as print experience (e.g., notes and
annotations.)
Also, expect that there are compelling features that go beyond what is feasible in the physical book experience (e.g., tags across notes, organizational capabilities.)
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Challenges to digital transition
Content availability
Student perceptions of DRM -- philosophical objections primarily
Non-philosophical reasons for objecting to the limits:
Wants to download the eTextbook to 3 computers (home, work and school.)
Desires access to the eTextbook on a lab (shared) computer
Given the opportunity, students are willing to experiment with reading and studying digitally.
-10%
0%
10%
20%
30%
40%
50%
60%
Amount allowed to be copied
Amount allowed to be printed
Download eTextbooks to a maximum of 2
computers
48% 49%
37%
25%30%
24%27%20%
39%Don't Know
Not Enough
Enough
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Marketing to and educating students and faculty
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Educating faculty & students In-store and online messaging
E-mail & text messaging
Social Media & Cause Focused Facebook
Blogs
Getting The Textbook Message Out
Biggest Challenge
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Textbook Marketing & Student Choice in a Time of Transition
BISG – February 5, 2011