Who Do We Trust? A Vendor Perspective by Dean Smith, Project MUSE

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Who Do We Trust? A Vendor Perspective by Dean Smith, Project MUSE

  1. 1. Who Do We Trust? A Vendor Perspective Charleston Conference November 4th, 2010 http://muse.jhu.edu Dean Smith Director, Project MUSE
  2. 2. http://muse.jhu.edu “Trust is the expectation that arises within a community of regular, honest, and cooperative behavior, based on commonly shared norms, on the part of other members of that community.” --Francis Fukuyama, Trust and the Creation of Prosperity
  3. 3. The evolving trust dynamic between publishers, vendors, a libraries… http://muse.jhu.edu Packaging Characteristics Relationship Dynamics Print-only Strength of print brand* Publisher reputation for quality* Circulation Faculty recommendations* Price lists & catalogs Delivery of bound physical object Reliance on a third party Competency Predictable frequency Authenticity/integrity Print/Digital Access (ownership vs. lease) Pricing policies Licensing/authorized users Archiving/Preservation Discoverability & usage Depth and breadth Budgets 24/7 communication (1-to-1) Transparency Flexibility Availability Responsiveness Learning together Digital Customization Disaggregation (chapters, articles, snippets) Commentariat (blogs, tweets) Personal brand Crowd-sourced Collaboration Willingness to experiment Facilitation Continuing the dialogue
  4. 4. Questions? http://muse.jhu.edu What happens to “Sports Guy” is the “community authority” with 90,735 posts since 2003 Who is Sports Guy?
  5. 5. Project MUSE Balances the Interests of Publishers and Libraries Started as a conversation between a publisher and a librarian A leading content community in the humanities and social sciences – 460 journals, 118 publishers, 2000+ libraries Over $70 million to publishers and more than $80 million in savings to libraries since 2000 http://muse.jhu.edu
  6. 6. From the session abstract… “The currency of both the scholarly publishing industry and academic librarianship is trust.” http://muse.jhu.edu
  7. 7. Reliability and responsiveness were the most important factors in building and maintaining trust for librarians and publishers http://muse.jhu.edu Which characteristic is MOST IMPORTANT for building and maintaining trust? (Please choose only one.) Transparency Authenticity Competency Consistency Responsiveness Reliability Which characteristic is MOST IMPORTANT for building and maintaining trust? (Please choose only one.) Transparency Authenticity Competency Consistency Responsiveness Reliability MUSE Publishers n=25 MUSE Libraries n=115
  8. 8. MUSE Publishers surveyed value trust over financial arrangements, contract terms, and technical capabilities http://muse.jhu.edu Trust: 70% Contract Terms: 30% Trust: 52% Technical Capabilities: 48% Which of these is more important? Preferential contract terms Trusting the vendor And which of these is more important? Vendor technical capabilities Trusting the vendor When deciding with which vendor(s) you will partner, which is more important? Favorable financial arrangements Trusting the vendor Trust: 70% Financial: 30%
  9. 9. Comments from Publishers… http://muse.jhu.edu “Many things are handled through email and ftp sites so trusting in your vendor is very crucial.” “We view vendors as innocent until proven guilty. In other words, we give them the benefit of the doubt until they act in such a way that erodes our trust.” “No long term relationship will work without trust.”
  10. 10. MUSE libraries surveyed value favorable financial arrangements, contract terms, and technical capabilities over trust http://muse.jhu.edu And which of these is more important? Vendor technical capabilities Trusting the vendor Which of these is more important? Preferential contract terms Trusting the vendor Contract Terms: 56% Trust: 44% Technical Capabilities: 59% Trust: 41% When deciding with which vendor(s) you will do business, which is more important? Favorable financial arrangements Trusting the vendor Financial: 58% Trust: 42%
  11. 11. Comments from Librarians… http://muse.jhu.edu “The contract "trumps" trust in that it is written (at my institution) with consequences should some parts of it not be fulfilled.” “Trust is built on a number of factors: competency, reliability, reputation; to me it's the outcome of a well run business.” “Trust is built over time. An initial relationship with a new vendor is not really based on trust - you do some due diligence but it is partly based on contract and partly leap of faith.”
  12. 12. Questions for Discussion? http://muse.jhu.edu 1. What is happening to trust in a down economy between publishers/vendors and libraries? 2. Related to shrinking budgets, does delivering high-quality content to end-users matter as much anymore? Is “good enough” okay? 3. How do we establish and maintain trust given the web’s many disguises?

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