PERSONAL LIBRARIES
WEEK 6
Channel & Pivot
Class & Mentor Feedback Addressed
 Is your customer the "customer from hell"? Is there really a
paying customer here?
 Are you going to investigate the knowledge / document
management market?
 Customers, customers, customers – start to model them
GOOD News
Search Engine Optimization
Wikipedia
 Wiki article prepared
 Generate more references
before publication
Bloggers
 Contacted 25+ bloggers who
cover reference
management software
 Positive responses from 2
already
 Others pending reply
 Peaya reviewed (in Dutch)
as one of the best
applications on ADOBE AIR.
A/B results declared a WINNER
Winner!
We learned:
1. Position against leading paid
software
2. Reference institutions at which
our software is used
3. Stuff navigation to other sites at
way bottom of screen
4. Winning variation has 58.7%
conversion
Keyword Search Volume
301,000
document management
60,500 document management systems
49,500 document management system
40,500 document management software
12,100 electronic document management
6,600 sharepoint document management
110,000
pdf notes
9,900
annotate pdfs
2,400 pdf document management
1,900 add comments to pdf
1,900 pdf sticky notes
< 1,000 searches
share annotations
share pdf notes
research annotation
publish your research
share class notes
share pdf notes
40,500 research software
1,000 medical research software
< 1,000 searches
Clinical research software
27,100 collaboration software
5,400 document collaboration
2,400 research management software
2,400 online collaborative software
1,900 collaboration software online
< 1,000 searches
web-based co-authoring
co-author research software
online collaboration software
60,500 pdf library
40,500 pdf manager
8,100 pdf organizer
6,600 pdf manager software
1,900 manage pdf library
1,900 pdf download manager
1,600 pdf library management
1,000 pdf page organizer
< 1,000 searches
Web-based PDF manager
cloud pdf library
foxit pdf organizer
online pdf storage
pdf organizer software
pdf file organizer
5,400 Share research
1,900 research sharing
< 1,000 searches
share pdfs
research co-authoring software
Comparison of existing demand for relevant keyword “silos”
Lifetime Value of User
Acquisition Cost:
$83
User Purchases:
$100/yr
Profit Margin:
70%
Churn Rate:
30%
Discount Rate:
8%
Conversion
Funnel
33,000 Impressions
TOTAL VALUE:
$92
167 Clicks
33 Downloads
1 Payment
NOT SO GOOD News
Channels aren’t encouraging
Discussions



Sales

Ex-Sales Manager, EBSCO, academic database
aggregator (complementary service)

CEO, iParadigms, established Higher Ed sales org
for plagiarism software

Ex-CEO, Veritas, highly experienced managing
enterprise sales orgs
Co-marketing opportunities

CEO, ResearchGATE, 0.7M researcher SN

Founder, LabMeeting.com, SN for researchers

BDM for RIM on co-marketing Peaya for Playbook
University Community

Head of Research, Stanford Neuroscience

Med School Reference Librarian

GSB Reference Librarian

GSB Library Director

Director of SIPX, course reader printing system
Takeaways
 Academic market is terribly small
(EBSCO sales $300-$6K, quotas
~$350-400K/annually)
 High volume academic site
license over $1-2/user unrealistic
 Cost of reaching lab managers
prohibitive
 Despite poor economics, many
niche competitors
 Academic software is a “dinosaur”
business
Reference Management Persona
Richard the Researcher
Salary: $10,000-$40,000/year
Postdoc, grad student
First author on research papers, tunnel vision
Needs
•
Overwhelmed with research readings
•
Spends too much time authoring papers
•
Coordinate 4-20 researchers per manuscript
Purchase Power
•
Asks manager for part of $1K annual IT budget
“I need tools that work with the journals that I want to
publish in and cite from. I prefer things that are free. I
like managing everything either in email or in folders on
my PC.”
Moving Forward
Document
Manager?
PDF Organizer
BioMed Reference
Manager
Can we win in Document Management?
2009 Revenue:
$3.5B
growing 4.9%
(Gartner)
Sources:
•
•
•
Gartner Magic Quadrant
SharePoint Product Manager
Web Research
Elements:
•
•
•
•
•
•
Document Management
Records Management
Workflow
Social Content
Web Content Management
Extended Components
SEM Tests
Document Management may be a large market,
but it is extremely competitive to buy clicks for this term
Advertiser Competition
…and dominated by large incumbents
Concept 1: Freemium
Document Management Archetypes
Steve the Student
Adam the Analyst
Salary: $5,000-$40,000/year
Undergrad, grad student
Busy student, rushing from class to class
Salary: $80,000-$200,000/year
Pre/Post-MBA; manager; analyst; lawyer
Ultra busy, upwardly mobile professional
Needs
•
Fast + cheap course readers & textbooks
•
Easily access and share materials
•
Collaborate on projects
Purchase Power
•
Spends $250-2000 on materials/year
Needs
•
Works in short to medium team projects
•
Craves industry-specific research
•
Writes memos, reports and presentations
Purchase Power
•
Expenses $99 without worry on AMEX
“It’s always a mad rush for course readers and
textbooks at the beginning of a term… I wish there
was a better way to stay organized for class, and in
groups”
“I have zero time. I want to find better ways of
doing things, but don’t want to learn new tools.
Whatever I use, it has to work 100% of the time, or
I’ll drop it like a garden gnome.”
Edward the Executive
Ivan the IT Professional
Salary: $110,000-$350,000/year
VP, Managing Director, President, C-level Exec
High stakes decisions, lives in review meetings
Salary: $60,000-$110,000/year
CIO, Director of IT, VP Ops, COO, IT Manager
Manages IT budget and staff
Needs
•
Fast consumer of information
•
Asks piercing questions to cut through BS
•
Needs to know what to trust
Purchase Power
•
Gets organization what they need
Needs
•
Make business users happy
•
Simplify number of IT vendors and apps
•
Lower IT costs per user
Purchase Power
•
Manages IT budget of $500-2000 per user
“I need my people to have the right tools and
processes. I need systems robust enough to
survive churn, yet flexible enough to be seamless.”
“I don’t want people using tools that create security
holes, or give them the ability to walk out of the
company with corporate assets. I want people to use
apps approved by my department so we know how to
support users when they call us.”
Document Management Archetypes
Steve the Student
Adam the Analyst
Salary: $5,000-$40,000/year
Undergrad, grad student
Busy student, rushing from class to class
Salary: $80,000-$200,000/year
Pre/Post-MBA; manager; analyst; lawyer
Ultra busy, upwardly mobile professional
Influencer
Buyer
(Single License)
(Single License)
Edward the Executive
Salary: $110,000-$350,000/year
VP, Managing Director, President, C-level Exec
High stakes decisions, lives in review meetings
Influencer
(Site License)
Ivan the IT Professional
Salary: $60,000-$110,000/year
CIO, Director of IT, VP Ops, COO, IT Manager
Manages IT budget and staff
Decision
Maker
(Site License)
Concept 2: Document Management & Marketplace
Document Manager + IP Market Place Value Proposition
Steve the Student
Salary: $5,000-$40,000/year
Undergrad, grad student
Busy student, rushing from class to class
Needs
•
Fast + cheap course readers & textbooks
•
Easily access and share materials
•
Collaborate on projects
Purchase Power
•
Spends $250-2000 on materials/year
“It’s always a mad rush for course readers and
textbooks at the beginning of a term… I wish
there was a better way to stay organized for
class, and in groups”
Integrated Personal Library with Print-on-Demand
Promise
Get course reader materials printed
faster and more conveniently, plus
digital copies easily organized in
your personal digital library
Differentiation
Only solution offering simple, cost
effective way to organize both
printed and digital course
materials; moreover, get ratings,
tips and commentary from
classmates sharing readings
Evidence
Course materials imported to PC
and sent to printers in 60 seconds
Cost
10% processing fee included in
copyright & printing costs--includes
cost of credit card processing,
returns, customer support, etc.
Risk
Poor quality printing, data loss,
issues with installing personal
library software
Effort
Install personal library software,
sign-in, and import classes and
materials
Providers and consumers of copyrighted material have unmet pain points
Providers
Consumers
NEEDS
NEEDS
18M Higher Ed US
Usage Data
Demand Data
Public Content
Pricing
Framework
Licensing
Mechanism
E-Commerce
Private
Content
Corporate and
Personal
eBooks
$1B US Retail
147% ‘09 CAGR
Fulfillment
IP Controls
Auditing
Commercial
Content
Databases
Self-Publishers
PAIN POINTS:
Most of Internet
$12B Legal
$4B Scientific/Academic
$2.5B Healthcare
7.3M Researchers WW
TBD
Students
Academics/
Researchers
Non-Profit
Analysts
TBD
Commercial
Analysts
1.2M
Legal Service
Providers
TBD
Content
Aggregators
CONTENT
Verifiable fact
Data
Figures
Analysis
Ontology
Citations
CAPABILITY
Search
Private Catalog
Collaboration
Discovery
Rating
~0.75M units/year US
Piracy
Pricing pressure
Slow growth
PAIN POINTS:
Lack of tools
High cost
Inaccessible materials
A unified copyright marketplace serves unmet needs across segments
Providers
Marketplace
Consumers
NEEDS
NEEDS
Personal Library
Students
Usage Data
Demand Data
Pricing
Framework
Licensing
Mechanism
E-Commerce
Shared Library
Public Content
Private
Content
eBooks
PARTNERSHIP
Alliance
Network
Partner
Infrastructure
Fulfillment
IP Controls
Auditing
Commercial
Content
Databases
Catalog
Admin Tools
API
DISTRIBUTION
SEO
Invites
Social Media
CHANNELS
Direct via Web
Client Experience
Resellers
Site Licensing
Printing
Middleware
Academics/
Researchers
Non-Profit
Analysts
Commercial
Analysts
Legal Service
Providers
CONTENT
Verifiable fact
Data
Figures
Analysis
Ontology
Citations
CAPABILITY
Search
Private Catalog
Collaboration
Discovery
Rating
Self-Publishers
IP Exchange
BENEFITS:
Monetize piracy
Increased revenues
Growth via new markets
Content
Aggregators
BENEFITS:
Effective tools
Affordable pricing
Broader selection
Sizing and Trends in Commercial Database Market
~$12B Legal
~$4B Scientific
& Academic
~$2.5B
Healthcare
Thank You
Business Model Canvas