Online Bookstore + Marketplace. Integrating Course Materials at the Point of Registration

Transcription

1 Online Bookstore + Marketplace Integrating Course Materials at the Point of Registration Cara Dulaitis, Akademos, Inc Oct 17th, 2013

2 Textbook Prices Changes Directly Impact Learning In the past 10 years, textbook prices have increased by a total of 82% over this time period, while overall consumer prices grew by 28%. The National Association of College Stores (NACS) reports the average college student will spend $662 on required course materials in the past 12 months the Higher Ed Opportunity Act was signed as Federal Law. 2

3 What Does this Mean to You as Administrators? 1 in 3 students don t purchase required texts proven to directly affect retention. High textbook prices can result in student complaints and dropped courses. Students are shopping elsewhere (Amazon, ebay, half.com etc.) which means lost sales revenue for your school. Merchandise/soft good sales remain consistent, while textbook revenues decline. Students are currently unable to use their financial aid or student accounts to purchase in the competitive online market. Faculty have difficulty locating cost-effective materials How can Akademos help? 3

4 You may already be familiar with our virtual store model: OUR MULTI-POINT SUPPLY CHAIN PROVIDES A TIMELY, ACCURATE AND LOW COST SOLUTION. More Choices, Wider Availability, Lower Cost, Less Overhead. 3 rd Party Marketplace Sellers Over 100 million books Averaging 60% off list price For the first time, students can apply Financial Aid even in the marketplace ebook Providers Akademos ereader Direct Inventory 2 Warehouses Rental Partners 85% availability Publisher Drop Shipments 24 hour shipment window 5

5 New Partnerships allow us to utilize Single Sign On: Case Study: Davenport University This winter, Akademos launched a virtual bookstore & marketplace for Davenport U which allows DU s 12,000 students to purchase course materials via a single sign-on at the point of student registration (using Banner s ERP). The result: With one click, each student s courses and books display in a custom my courses view determined by the student s log-in. Without having to search, DU students now have a wider variety of purchasing options, including 3 rd party marketplace sellers, new, used, rentals and e-books without losing the opportunity to use financial aid. Online bookstore 4

6 How Does Direct Integration w/registration Systems (SSO) Benefit Davenport University? In Akademos, we found a partner that can integrate with our existing systems to develop a custom solution for Davenport's course registration, book ordering and financial aid processing needs. --Bruce Rentz, Executive Director of Procurement & Auxiliary DU (retired) Akademos is helping DU fulfill key initiatives to lower instructional material costs and improve services for our students. ---Jaye Lynn Bergers, Director of Bookstore Operations at DU. 4

7 How Can Direct Integration w/registration Systems (SSO) Benefit Your School? What about Community Colleges? Many CC students rely on financial aid. Lower cost texts stretches that aid further. In this single sign on model, FA is applied in real time to student accounts. Accounting, Business, Finance, Nursing, Medical Assisting & Health Sciences require particularly expensive texts. More competitive pricing brings back lost revenue from students shopping elsewhere. More affordable books = higher retention rates Single sign on = less clicks = less margin for student error. Courses automatically display, increasing sell through. 100% HEOA Compliance CONFIDENTIAL AKADEMOS

8 OTHER TOOLS Easy Online Custom Coursepack Creation for Faculty Design your own cover, pick your binding & specify number of desk copies. Select content, specify page numbers and/or attach your own notes/handouts. We clear all copyrighted materials. CoursePack Demo Link 10

9 THE TIME IS NOW Consider a Modern Business Model for Changing Times FACT: Students can often find more competitive textbook prices through online marketplaces than in a brick and mortar store. FACT: Brick and mortar stores require substantial overhead, and expensive POS systems. FACT: Merchandise/soft goods often have a better profit margin than textbooks. FACT: In order to increase student choice and value, the industry is trending toward outsourcing books to online stores and self-operating spirit shops or campus merchandise stores. FACT: Technology has evolved, the industry has not. FACT: The Akademos solution costs nothing to your school. STAY TUNED Akademos will have an exciting announcement next month about a new community college partnership in Illinois. 10

10 Our Goal for Illinois Community Colleges ALIGN STUDENTS, FACULTY AND ADMINSTRATORS TO IMPROVE SATISFACTION WITH COURSE MATERIALS AND INCREASE RETENTION by providing lower cost course materials in an easy to use format. 14