BISG's MIP for Higher Ed - ROTH, jade

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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.

TITLE: Textbook Marketing and Student Choice in a Time of Transition

DESCRIPTION: Today's students are presented with a rapidly expanding selection when it comes to educational materials and price points. This presentation focuses on what students choose and what drives those choices, what causes students to select one format over another, and what they expect from each. We will also share some thoughts on how those choices can be influenced by publishers who want to take advantage of a changing marketing environment.

Published in: Business, Education, Technology
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BISG's MIP for Higher Ed - ROTH, jade

  1. 1. Textbook Marketing & Student Choicein a Time of TransitionBISG – February 5, 2011 Confidential
  2. 2. The Changing Collegiate Retail Landscape 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 Confidential
  3. 3. The Changing Textbook Landscape 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 Confidential
  4. 4. Types of Textbooks Used Today2010 by the Numbers 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 Confidential
  5. 5. What students… Do Prefer Demand 65% Compare prices 50% Used Convenience 60% Purchase all required 21% New/used combo Value 32% Share 14% New Choice Textbooks 22% Skip 5% Rentals 16% Swap 3% eTextbooks 11% PhotocopySource: Student Monitor LLC and Barnes & Noble company research Confidential
  6. 6. What faculty… Do/would do 69% Consider price when choosing a textbook 72% Would support giving students a choice of renting a book for all or some of their courses Textbooks 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 availableSource: Barnes & Noble company research Confidential
  7. 7. Student & Bookstore Affinity10 9.23 8.6 9 8.25 8.2 8.2 7.9 7.9 7.6 7.41 8 6.9 7 6.28 5.6 6 5 3.8 4 3 2.1 2 1 0 Confidential
  8. 8. Choice, Convenience, CheapProviding new, used, rental, digital – in-store and online Confidential
  9. 9. Student SavingsThe numbers behind the options NEW USED RENTAL$ DIGITAL $100 $75 49 $40 Confidential
  10. 10. Textbook Rentals Confidential
  11. 11. 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 Confidential
  12. 12. etextbooks Confidential
  13. 13. eTextbooks & NOOKstudy e-TEXTBOOKS GROWTH All Barnes & Noble Stores We have seen a significant increase offer eTextbooks in digital sales this Students save up to 60% off year. the new textbook price Student can preview 14% of students etextbooks with 7-day free have purchased a digital product as part trial of their studies. Students purchase and rent etextbooks in-store and The general online acceptance of digital When offered a choice, 5% of reading for pleasure is bleeding over to students choose digital higher education This percentage is growing content. rapidly Confidential
  14. 14. 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. Confidential
  15. 15. Higher Education Digital Strategy 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 A free, downloadable software solution expressly designed for learning Confidential
  16. 16. Innovative SoftwareNOOKstudy lets students study smarter, not harder  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 Confidential
  17. 17. 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.) Confidential
  18. 18. 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. 48% 49% 60% 50% 39% 37% 30% 40% Dont Know 25% 27% 24% 30% 20% Not Enough 20% Enough 10% 0% -10% Amount allowed to be Amount allowed to be Download eTextbooks to copied printed a maximum of 2 computers Confidential
  19. 19. Marketing to and educating students and faculty Confidential
  20. 20. Getting The Textbook Message OutBiggest Challenge Educating faculty & students  In-store and online messaging  E-mail & text messaging  Social Media & Cause Focused  Facebook  Blogs  Twitter Confidential
  21. 21. Textbook Marketing & Student Choicein a Time of TransitionBISG – February 5, 2011 Confidential

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