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E245 personal libraries-week4

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  • $12b in legal, $4b in academic $2b in healthcare approximate annual revenues (based on red bar charts in report)
  • Transcript

    • 1. PERSONAL LIBRARIES
      WEEK 4
      Customers & Users
    • 2. Your Feedback
      Evaluate market size
      Talk to more customers
      Get beyond Stanford
    • 3. Hypotheses & Findings
      More info on our blog: http://factnote.com/c/e245
    • 4. Customer Interviews
      Feedback from >60 researchers
      cold calls, in-person interviews, and a web survey
      both Stanford and non-Stanford
      both current users and non-users
      Top features: easy citations, easily access PDFs, tag papers to find later, and format references for target publication
      >80% of respondents earn <40k in annual salary
      “I want it to collect & organize my PDFs”
      Less Attractive features: share papers with others, rate papers I’ve read
    • 5. Update: New Tutorials
    • 6. Search Volume
    • 7. Market Size Estimates
      Biomed Endnote
      Reference Managers
      E Books:
      • Wholesale book sales at about $24B annually
      • 8. eBook segment at about $0.5B and growing at over 100%
      -American Publisher’s Association
      TAM: ?
      • 8.5M searches/year for relevant categories in Google
      • 9. Google 70% search share
      • 10. Suppose each “free endnote” search represents 1 in 200 users who obtain a new commercial license
      • 11. Thus, 1.2M new yearly purchases
      • 12. Suppose average sale price is $70
      TAM: ~$84M
      • 7.3M researchers
      • 13. 1/3 in biomed
      • 14. 20% are first author on publications
      • 15. 90% of those license Endnote
      • 16. Suppose average Endnote sale price is $70
      TAM: ~$30M
    • 17. Next Week:
      More Customer interviews
      2nd Customer Survey
      AdWords Value Prop Testing
      Landing Page A/B Testing
      vs
    • 18. Competition