#LsmNYC Team - Smart Books
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Transcript of #LsmNYC Team - Smart Books
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
more than 40 percent since 2000.-College Board, 2010
Wikipedia, university sites, and not for profits offer the written content found in
major textbooks
Solution
Assumptions
1A 1B
Students will be comfortable watching and learning from videos
Students will pay for video content in place of print book
MVP
Process
Analytics136 unique views
40 signup clicks
4 signups
35%
10%
Cycle #1: “Expensive” prompt
86 unique views
75 signup clicks
2 signups
15%
18%
Cycle #2: “Boring” prompt
25 unique views
6 signup clicks
0 signups
24%
0%
Cycle #3: “Supplement” prompt
Analytics
Conclusions and Next StepsConclusions• A majority of students are
comfortable learning from video• Students would be willing to
substitute engaging videos that mapped to their textbooks if they thought it was 100% comprehensive – though some would only use it as a supplement
• The loss of print book functionality (highlighting, writing in the margin, dog-earing pages) would stop many students from making a full switch
• Customers uniformly require a free trial before purchasing
Next steps• Pre-sell access to video books
• Quickly create new MVP:
– chapter of content and test for comprehension side by side with print book
– Sell chapter of content
• Establish relationships and have in person or telephone conversation with those that signed up on the site