PERSONAL LIBRARIES

WEEK 4Customers & Users

Your Feedback

Evaluate market size

Talk to more customers

Get beyond Stanford

Hypotheses & Findings

More info on our blog: http://factnote.com/c/e245

Customer InterviewsFeedback from >60 researchers

cold calls, in-person interviews, and a web survey

both Stanford and non-Stanford

both current users and non-users

>80% of respondents earn <40k in annual salary

Top features: easy citations, easily access

PDFs, tag papers to find later, and format references for target

publication

Less Attractive features: share

papers with others, rate papers I’ve read

“I want it to collect & organize my PDFs”

Update: New Tutorials

Search Volumeendnote 450,000download endnote 22,200endnote software 3,600buy endnote 590

zotero 135,000download zotero 2,900zotero plugin 2,900

mendeley 60,500mendeley desktop 4,400

reference management 14,800reference software 12,100citation management 2,900

Total monthly 711,890Total yearly 8,542,680

Market Size Estimates• 8.5M searches/year for

relevant categories in Google

• Google 70% search share • Suppose each “free

endnote” search represents 1 in 200 users who obtain a new commercial license

• Thus, 1.2M new yearly purchases

• Suppose average sale price is $70

TAM: ~$84M

Reference Managers

• 7.3M researchers• 1/3 in biomed• 20% are first author

on publications• 90% of those license

Endnote• Suppose average

Endnote sale price is $70

TAM: ~$30M

• Wholesale book sales at about $24B annually

• eBook segment at about $0.5B and growing at over 100%

-American Publisher’s Association

TAM: ?

E Books:Biomed Endnote

Next Week:More Customer interviews

2nd Customer Survey

AdWords Value Prop Testing

Landing Page A/B Testing

vs