Meauring up

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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 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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Meauring up

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

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