SlideShare a Scribd company logo
The Problem

University textbooks are too expensive     Textbook content is widely available



The average college student spent more
 than $1,000 on textbooks per year, up    Wikipedia, university sites, and not for
   more than 40 percent since 2000.      profits offer the written content found in
             -College Board, 2010                      major textbooks
Solution
Assumptions

               1A                                   1B

  Students will be comfortable      Students will pay for video content
watching and learning from videos         in place of print book
MVP
Process
Analytics #2: “Boring” prompt
        Cycle #1: “Expensive” prompt      Cycle

              136 unique views                             86 unique views
35%                                        15%
               40 signup clicks                            75 signup clicks

      10%                                         18%
                  4 signups                                    2 signups
                               Cycle #3: “Supplement” prompt


                                       25 unique views
                   24%
                                       6 signup clicks

                          0%
                                          0 signups
Analytics
Conclusions and Next Steps
Conclusions                                Next steps
•   A majority of students are             •   Pre-sell access to video books
    comfortable learning from video
•   Students would be willing to           •   Quickly create new MVP:
    substitute engaging videos that
    mapped to their textbooks if they           – chapter of content and test for
    thought it was 100%                           comprehension side by side
    comprehensive – though some                   with print book
    would only use it as a supplement
                                                – Sell chapter of content
•   The loss of print book functionality
    (highlighting, writing in the          •   Establish relationships and have in
    margin, dog-earing pages) would
                                               person or telephone conversation
    stop many students from making
    a full switch                              with those that signed up on the
                                               site
•   Customers uniformly require a
    free trial before purchasing

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#LsmNYC Team - Smart Books

  • 1.
  • 2. The Problem University textbooks are too expensive Textbook content is widely available The average college student spent more than $1,000 on textbooks per year, up Wikipedia, university sites, and not for more than 40 percent since 2000. profits offer the written content found in -College Board, 2010 major textbooks
  • 4. Assumptions 1A 1B Students will be comfortable Students will pay for video content watching and learning from videos in place of print book
  • 5. MVP
  • 7. Analytics #2: “Boring” prompt Cycle #1: “Expensive” prompt Cycle 136 unique views 86 unique views 35% 15% 40 signup clicks 75 signup clicks 10% 18% 4 signups 2 signups Cycle #3: “Supplement” prompt 25 unique views 24% 6 signup clicks 0% 0 signups
  • 9. Conclusions and Next Steps Conclusions Next steps • A majority of students are • Pre-sell access to video books comfortable learning from video • Students would be willing to • Quickly create new MVP: substitute engaging videos that mapped to their textbooks if they – chapter of content and test for thought it was 100% comprehension side by side comprehensive – though some with print book would only use it as a supplement – Sell chapter of content • The loss of print book functionality (highlighting, writing in the • Establish relationships and have in margin, dog-earing pages) would person or telephone conversation stop many students from making a full switch with those that signed up on the site • Customers uniformly require a free trial before purchasing