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How much do public library patrons value electronic resources? The NC LIVE consortium provides access to a wide variety of electronic resources via 200 public and academic member libraries throughout …

How much do public library patrons value electronic resources? The NC LIVE consortium provides access to a wide variety of electronic resources via 200 public and academic member libraries throughout the state. Asking library patrons to put a value on these electronic resources will help determine whether public libraries are getting a good return on investment (or ROI) for their communities. Strategies for conducting ROI studies will be discussed, as well as preliminary results from this pilot study.

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Transcript

  • 1. The Value of Collaboration for North Carolina’s Public Libraries Measuring Up
  • 2.
    • A consortium of 198 member libraries:
    • All NC Public Libraries
    • NC Community College System
    • UNC System
    • NC Independent Colleges & Universities
    • NC LIVE is funded through the State Legislature and the NCICU
    • Everyone across the state has the same access to NC LIVE resources via their local North Carolina library.
    What is NC LIVE?
  • 3.
    • Access to:
      • eBooks
      • Audio books (soon!)
      • Videos
      • Magazines, newspapers, journals
      • Databases
      • & More!
    • Access via nclive.org, or your local library’s website.
    • By purchasing or subscribing to online resources collaboratively, NC LIVE saves libraries $$$.
    What does NC LIVE give you?
  • 4.
    • (We think) we provide some really valuable stuff through libraries!
    • So, we began asking questions:
    • How do we prove (measure) our value for…
      • Member libraries?
      • Funding organizations?
      • Government leaders?
      • Our patrons?
      • Tax payers?
    • What do we need to be able to make some decisions about?
      • Outreach (Which libraries are getting the most value from NC LIVE? Where should we focus our efforts?)
      • Marketing (What resources are providing the highest value for patrons?)
      • Resource Selection (What should we provide more of? What’s less important?)
    • We know! … We’ll measure Return on Investment.
    Proving our Value
  • 5. ROI = Benefit from Investment – Cost of Investment Cost of Investment We know the costs , and how much the resources are used, but how do we calculate “ benefit ?” We realized we needed to understand what NC LIVE resources are truly worth ( value ) to move forward with calculating the benefit and ROI. A simple calculation that seemed pretty straightforward, at first… ROI for NC LIVE Resources
  • 6.
    • The NC LIVE Resource Advisory Committee worked with NC LIVE staff to determine FMV.
    Determining Fair Market Value
    • FMV = an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market. (Wikipedia)
  • 7.
    • Examples of Content with Market Correlations
      • Academic eBooks [Amazon/Barnes & Noble] - $100 per full text download 
      • Trade eBooks [Amazon/Barnes & Noble] - $10 per full text view/download
      • eAudio Books [Audible] - $15 per download
    • Examples of Content without Market Correlation
      • Novelist Plus
      • Novelist K-8 Plus
      • ArchiveGrid
      • ArticleFirst
      • ClasePeriodica
      • OAIster
      • WorldCat
      • HeritageQuest
      • Job & Career Accelerator
    Draft FMV Chart
  • 8.
    • There’s not a very solid way to determine a FMV for what NC LIVE is offering.
      • There are a lot of items without a market correlation.
        • Does that mean they don’t have any benefit or value?
      • Buying & Borrowing are very different things.
        • So, is it really fair to use FMV?
    The Problem
  • 9.
    • Maybe Fair Market Value is not quite the right measure…
    • … then came Emily.
    What’s Next?
  • 10.
    • NC LIVE
    • Supports public libraries
    • Provides access to amazing resources
    My Bottom Line
    • Public libraries
    • Always something interesting
    • Open and free
    • Support education
  • 11. NC LIVE Data
    • NC LIVE collects a lot of data
      • Resource usage data: http://nclive.org/usagereports
        • Item views
        • Sessions
        • Searches
      • Login data
      • Website usage data
  • 12. Public Library Data Inventory
  • 13. Public Library Data
  • 14. Public Library Data Usage
  • 15. Public Library Data
  • 16. Public Library Data Costs
  • 17. Public Library Data
  • 18.
    • The data show changes over time . . .
    • Materials available
    • Demand for services
    • Personnel
    • Hours
    • Budget
    Public Library Data We can ask questions about the data to make good choices for our libraries!
  • 19.
    • But what happens when the question we want to ask is about value ?
    Public Library Data
  • 20. Public Library Data ? Value
  • 21.
    • Great marketing tool
    • Makes patrons feel good about using the library
    • Easy to understand
    NYLA Library Value Calculator
  • 22. But . . . Are the estimated values accurate? NYLA Library Value Calculator
  • 23. NYLA Library Value Calculator Cost of purchasing an audiobook Value of borrowing an audiobook = But . . . Are the estimated values accurate?
  • 24. NYLA Library Value Calculator Cost of purchasing an audiobook Value of borrowing an audiobook = But . . . Are the estimated values accurate?
  • 25. = NYLA Library Value Calculator Cost of purchasing an audiobook Value of borrowing an audiobook
    • Selection
    • Time
    • Ownership
    Public good versus private good
  • 26. NYLA Library Value Calculator So . . . Are the estimated values accurate? Not really.
  • 27.
    • How do we calculate the value of a public good?
  • 28.
    • The amount of money that someone is willing to pay to receive a particular good or service
    Willingness to Pay
  • 29.
    • Used to value things that do not have a market equivalent
    • Determine what does or does not impact willingness to pay
    • Often involves a hypothetical situation
    Willingness to Pay
  • 30. How do we calculate the value of a public good?
  • 31. How do we calculate the value of a public good an NC LIVE resource ?
  • 32. How do we calculate the value of a public good an NC LIVE resource ? Find a graduate student who needs a topic for her capstone
  • 33.
    • Purpose
    • Method
    • Distribution
    • Sample Questions
    • Results
    • How your library can help
    Capstone Project
  • 34.
      • Determine the value of eBooks , eAudio books and online videos
    Purpose to public library patrons
  • 35.
      • Determine the value of eBooks , eAudio books and online videos
    Purpose NC LIVE users from participating public libraries to public library patrons
  • 36. Method
    • Patron willingness to pay for eBooks, eAudio books & online videos
    • Reason for refusal to pay
    Value
  • 37. Method Value
    • Patron willingness to pay for eBooks, eAudio books & online videos
    • Reason for refusal to pay
  • 38. Method Library characteristics Family characteristics Warm Glow Satisfaction Usage Value
  • 39. Library characteristics Family characteristics Warm Glow Method Satisfaction Usage
    • Frequency of visiting the library
    • Frequency of using eBooks, eAudio books & online videos through library website
    • Frequency of using a paid service for eBooks, eAudio books & online videos (Amazon, Netflix, iTunes)
    • Purpose for using eBooks, eAudio books & online videos
  • 40. Library characteristics Family characteristics Warm Glow Method Satisfaction Usage
    • Selection
    • Ease of use
  • 41. Library characteristics Family characteristics Warm Glow Method Satisfaction Usage
    • Importance of library services for family
    • Importance of library services for community
  • 42. Library characteristics Family characteristics Warm Glow Method Satisfaction Usage
    • Age
    • Age of family members
    • Household income
    • Education level
    • Gender
    • Ethnicity
  • 43. Library characteristics Family characteristics Warm Glow Method Satisfaction Usage
    • Number registered users
    • Operating expenditures
    • Additional eBooks, eAudio books & online videos
  • 44. Method Library characteristics Family characteristics Warm Glow Satisfaction Usage Value
  • 45. Survey Distribution
  • 46. Survey Distribution
  • 47. Survey Distribution
  • 48. Survey Distribution
  • 49. Sample Questions
  • 50. Sample Questions Usage Satisfaction
  • 51. Sample Questions Value
  • 52. Sample Questions Warm Glow Family characteristics
  • 53.
    • Answer value question for three popular online resources
    • Better understanding of what factors influence value
    • One step closer to return on public library investment
    Results
  • 54.
    • Sign up to participate in the study
    • Take a letter and study summary to your library director
    • Spread the word to other libraries!
    How Your Library Can Help
  • 55.
    • Emily Guhde
    • MLS/MPA 2012
    • UNC Chapel Hill
    • [email_address]
    • Jill Morris
    • Assistant Director
    • NC LIVE
    • [email_address]
    Questions?