PERSONAL LIBRARIES <br />WEEK 3<br
/>VALUE PROPOSITIONS<br />

Value Proposition Hypotheses<br />Problem Statement:
Researchers are eager to have a tool that will help manage, share and reference their papers<br />Technology/Market: Customers enjoy the current product but cost is the prohibiting factor in purchasing a premium account<br />Competition: We need to displace Endnote, which currently claims 90% of the market share<br />Product: MVP will import, organize and cite papers<br />

Experiments<br />Market Research<br />Interviewed 10
current users and non-users from biomedical, neuroscience, psychology & legal<br />Surveyed 200 existing users (~5% response rate)<br />Product Marketing<br />Demoed to paper management research group<br />Refined messaging pitch via media training workshop<br />Feedback meetings with BryanStolle & Konstantin Guericke<br />More info on our blog: http://factnote.com/c/e245<br />Includes interview notes (must have a user account to view)<br />

Key Findings<br />Non-users are excited
about the product and generally think it will save time and reduce frustration<br />Biggest user adoption hurdles are energy spent learning interface & loading past papers, not price<br />Tools/tips, interface usability needs to be reworked<br />Pre-populate works cited in user’s own publications <br />Critical mass – users ask labs to purchase for them, increase value of sharing & collaboration features<br />Customers find high value in tagging and organizing papers, rivaling that of inserting citations<br />Providing both makes our product more valuable than Endnote<br />MVP will import and organize papers in an intuitive interface<br />Pivot Opportunities: Customer Base, Personal Prestige, Material Citations<br />