BISG's MIP for Higher Ed - Paxhia, steve

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Presentation from BISG's "What College Students Think: Making Information Pay for Higher Ed Publishing" Conference, held Feb 9, 2011 in NYC. …

Presentation from BISG's "What College Students Think: Making Information Pay for Higher Ed Publishing" Conference, held Feb 9, 2011 in NYC.

TITLE: (OPENING KEYNOTE) Findings from BISG's Student Attitudes Toward Content in Higher Education Survey (and what it means for your business)

DESCRIPTION: It's still a textbook world according to the first fielding of BISG's Student Attitudes Toward Content in Higher Education. Despite their fondness for social networking and cell phones, most college students say they prefer textbooks in printed rather than e-text form. That said, survey respondents find textbooks overpriced and are aggressively seeking more affordable options. In this Opening Keynote, Steve Paxhia will review findings from the inaugural BISG research survey and contrast the rapid growth of e-book sales in the consumer market with the more modest growth of e-texts in the education markets. Moreover, Steve will reflect on how this new data clarifies both the opportunities and risks encountered by publishers en route to a successful digital content strategy.

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  • 1. Book Industry Study Group’sStudent Attitudes TowardContent in Higher EducationSeeking high value contentat the lowest possible cost© 2011, the Book Industry Study Group 1
  • 2. Overview The semi-annual online survey focuses on college student perceptions related to educational content and presentation media in the higher education market. It is powered by Bowkers PubTrack™ Consumer. The data reported today comes from the first survey in VOLUME ONE. The second survey in VOLUME ONE will be fielded later this month. © 2011, the Book Industry Study Group www.bisg.org 2
  • 3. Overview Survey questions were developed in partnership with a variety of publishers and other companies working in the higher education market place. For the first survey in VOLUME ONE, 1505 college students drawn from a nationally representative panel were polled. The online Real-Time Reporting service is a great research tool. © 2011, the Book Industry Study Group www.bisg.org 3
  • 4. Considerations Why do students prefer printed textbooks? How do students define value? How do students seek value? What students are most likely to acquire their content via “illicit behaviors”? How are next generation products perceived by students? © 2011, the Book Industry Study Group www.bisg.org 4
  • 5. SampleDemographics The sample had appropriate levels of participation by: Age Class year Gender Type of institution Fulltime vs. part-time students © 2011, the Book Industry Study Group www.bisg.org 5
  • 6. CourseDemographics Students were asked to answer a series of questions based upon the first course they attend on Tuesday. Courses were categorized by: Academic discipline Required vs. elective Student interest in class material Major/minor Taught on campus vs. online © 2011, the Book Industry Study Group www.bisg.org 6
  • 7. Key Findings What did we learn from the student responses?© 2011, the Book Industry Study Group 7
  • 8. Key Finding:Print vs. E-Textbooks 21% of students had purchased an e-textbook Graphics are 75% of students preferred available as traditional printed textbooks part of the over digital replica e-textbooks. purchased ° Like the look and feel of print ° Potential for permanence of study. ownership ° Opportunity for resale Visit http://www.bisg.org/ Online courses use many more e- publications/product. textbooks php?p=22&c=437 for options. © 2011, the Book Industry Study Group www.bisg.org 8
  • 9. Do readers reallyprefer print?Other publishing segments have asked the same question… Newspapers ° 61% of people now read news everyday on the Internet vs. 50% who read newspapers [Pew Project] Magazines ° 3 years ago only 1.5% of subscribers selected digital replica consumer magazines ° Now 38% of iPad owners are reading digital magazines [Changewave research] © 2011, the Book Industry Study Group www.bisg.org 9
  • 10. Do readers reallyprefer print? Trade Publishing ° Four years ago almost no penetration ° Now more than 10% and doubling annually  Only 17% say that they prefer print  And 17% say that they were not satisfied with the digital display. © 2011, the Book Industry Study Group www.bisg.org 10
  • 11. Whatconsumersreally like todo… Replica digital Newspapers Replica e-Magazines Replica e-books on PC’s © 2011, the Book Industry Study Group www.bisg.org 11
  • 12. Students reportedlow satisfaction withReplica E-Textbooks Graphics are Current e-textbook available as offerings have yet part of the to achieve purchased consistently high study. levels of satisfaction Visit http://www.bisg.org/ publications/product. php?p=22&c=437 for options. © 2011, the Book Industry Study Group www.bisg.org 12
  • 13. Whatconsumersreally do like… Digital Products that: Make good use of the digital platform Offer features and value above and beyond printed versions Offer better prices © 2011, the Book Industry Study Group www.bisg.org 13
  • 14. Student Value Proposition How do students perceive the value that they are receiving from their course materials?© 2011, the Book Industry Study Group 14
  • 15. Decision factors Price and availability are currently reported Graphics are as the key decision available as part of factors. It appears the purchased study. that students view Visit content as a http://www.bisg.org/publication commodity that should s/product.php?p=22&c=437 be acquired efficiently. for options. © 2011, the Book Industry Study Group www.bisg.org 15
  • 16. Acquisition methods Only 62% of students reported that they were purchasing the traditional print version of the Graphics are current edition (new and used). available as part of the purchased study. The growth of previous edition sales suggests that students Visit and faculty are tiring of short http://www.bisg.org/publication revision cycles. s/product.php?p=22&c=437 for options. Rentals continue to increase. Note the increase in borrowing and sharing. © 2011, the Book Industry Study Group www.bisg.org 16
  • 17. Relative Satisfaction Textbooks are highly developed products with many rich features that are Graphics are optimized for print. Yet only available as part of 41% of students report high the purchased study. satisfaction with these well established products. Visit http://www.bisg.org/publication Less mature products and s/product.php?p=22&c=437 features have lower levels of for options. highly satisfied students. © 2011, the Book Industry Study Group www.bisg.org 17
  • 18. Key Finding:Value Perceptions Students don’t yet fully Graphics are understand the benefits of premium digital offerings like available as part of MyLabs, Connect, and Wiley the purchased study. Plus [see red bar at right]. Visit How do premium digital http://www.bisg.org/publication s/product.php?p=22&c=437 offerings escape the ancillary for options. perception? © 2011, the Book Industry Study Group www.bisg.org 18
  • 19. Finding the valueproposition Value equals low price, high usage and rich pedagogy Students found textbooks to be more valuable ° When they were used extensively by their instructors ° In their major ° When they had a personal interest in the course material © 2011, the Book Industry Study Group www.bisg.org 19
  • 20. Platforms and Devices What devices are students currently using and planning to purchase?© 2011, the Book Industry Study Group 20
  • 21. E-Reader devices For faculty, the size of the installed base is essential if Graphics are they are to adopt digital content for their courses. available as part of the purchased study. Over the last 10 years, computers have achieved a Visit large installed base, http://www.bisg.org/publication especially when s/product.php?p=22&c=437 for options. supplemented by campus computing centers. © 2011, the Book Industry Study Group www.bisg.org 21
  • 22. Key Finding:E-reader purchaseintent Graphics are While there are many available as part of interesting new devices coming to market, most lack the purchased study. the computing power and Visit applications required by http://www.bisg.org/publication students. s/product.php?p=22&c=437 for options. Most students are unlikely to purchase and carry multiple devices. © 2011, the Book Industry Study Group www.bisg.org 22
  • 23. Illicit Behaviors Why do students seek alternatives in content and acquisition?© 2011, the Book Industry Study Group 23
  • 24. Key Finding:Illicit Behavior Graphics are There are a range of illicit available as part of content acquisition strategies that have been enabled by the purchased study. the Internet. Visit The student reports were http://www.bisg.org/publication s/product.php?p=22&c=437 quite forthcoming indicating for options. that this behavior is growing and becoming more pervasive. © 2011, the Book Industry Study Group www.bisg.org 24
  • 25. Key Finding:Illicit Behavior(by age) Graphics are Older students report more available as part of of these types of activities than younger students. This the purchased study. data suggests that older Visit students may be more frugal http://www.bisg.org/publication because they are spending s/product.php?p=22&c=437 for options. their own salaries on content acquisitions. © 2011, the Book Industry Study Group www.bisg.org 25
  • 26. Key Finding:Illicit Behavior(by school year) Graphics are Based upon the school year data, it appears that available as part of students learn from their the purchased study. colleagues about alternate Visit content acquisition http://www.bisg.org/publication strategies. s/product.php?p=22&c=437 for options. © 2011, the Book Industry Study Group www.bisg.org 26
  • 27. Key Finding:Illicit Behavior(by payment source) Graphics are Students who report that their parents are paying are available as part of less inclined towards the purchased study. engaging in illicit content Visit acquisition behaviors. http://www.bisg.org/publication s/product.php?p=22&c=437 for options. © 2011, the Book Industry Study Group www.bisg.org 27
  • 28. Key Finding:  While it seems logical that students who were satisfiedIllicit Behavior with the price of books(by overall price would be less likely to engage in illicit behaviors,satisfaction) the study data indicates that the reverse is true. The students who are most satisfied with prices are the most likely to use alternative acquisition strategies. Maybe that’s why they’re satisfied with the price... © 2011, the Book Industry Study Group www.bisg.org 28
  • 29. Key Finding:Illicit Behavior(by value perception) Graphics are It’s value that students are striving for. When students available as part of reported finding the core the purchased study. textbook to be valuable, they Visit are less likely to engage in http://www.bisg.org/publication illicit behaviors. s/product.php?p=22&c=437 for options. © 2011, the Book Industry Study Group www.bisg.org 29
  • 30. Conclusions© 2011, the Book Industry Study Group 30
  • 31. Conditions for rapidmarket expansion Value+ Innovative Platforms and Devices+ Enthusiastic Channel Partners= Rapid Market Expansion © 2011, the Book Industry Study Group www.bisg.org 31
  • 32. Value Value for students = low price + high usage in the course + and rich pedagogy © 2011, the Book Industry Study Group www.bisg.org 32
  • 33. New devices andplatforms  PCs are the preferred platform today o Ubiquitous o Processing power o Necessary apps- word processing, spreadsheet, etc.  New devices are emerging but the perfect mobile educational device has yet to be released © 2011, the Book Industry Study Group www.bisg.org 33
  • 34. Channel partners  Apple iStore o iPad apps  Amazon o Using their 25% market share  Barnes and Noble o Establishing the NOOKcolor  CourseSmart, CafeScribe, and Xplana  College stores? © 2011, the Book Industry Study Group www.bisg.org 34
  • 35. Illicit behaviors  When students don’t perceive value commensurate with price, they will find other ways to obtain their content. o Copying o International editions o Old editions  Next generation digital courses have the potential to change the value equation. © 2011, the Book Industry Study Group www.bisg.org 35
  • 36. Thank you! For more information contact the BISG office at 646-336-7141 or info@bisg.org.© 2011, the Book Industry Study Group 36