This is a solid concept with some meat behind it. Students will access their textbook(s) online many times throughout the semester. Each time the online text is opened a new impression is created which can then be sold to an advertiser. This impression or registration information can be customized down to the local level allowing local campus businesses to advertise directly to students. Perhaps after reading an online textbook for 2 hours that advertisement for a ½ priced cup of coffee at the campus coffee shop will be that much more effective. The question repeatedly being asked is whether or not the pop up advertising will be too annoying for students to tolerate?
The beauty is that it doesn’t matter! Here is the simple version of how an ad supported book works: If you want the maximum discount for a book you will be forced to view it online with the full complement of ads. The more you pay, the less advertising you see. Need it in print? Use a print on demand service for a nominal fee! It is that easy. In addition, if at any time during the process you don’t want to view ads any more you can pay the upgrade fee and opt out of the ads.
So what is the catch? The biggest catch is that not many publishers have bought into the concept and not many textbook titles are available yet. It’s probably just a matter of time though. The ad supported model actually works better than “e-books” because a publisher doesn’t have to set an expiration date for the data because as long as the student logs in to view it, new impressions are created and advertising dollars are generated.
If the business model catches on I can really see this take off. I would expect students to give an initial negative reaction to ads in the textbook but in reality it is no different than reading a facebook page or any other online article. Not surprisingly, students have gotten good at ignoring the advertising message.
by: Jeff Cohen
Great, you sold your books back to vendors either through your school, friends, an off campus location or through CampusBooks.com, and you have cash in hand. What are you going to do with it? Why not give your dorm room a make over on the cheap? Below is a list of suggestions from DormDelicious.com on how to update your room without spending a fortune:
- Add Color. According to DormDelicious.com adding color to your room can give it a whole new look and feel. Why not check out the Salvation Army or Goodwill for a “vintage” or “retro” new bedspread.
- Add a Plant. Adding a plant can not only make your room look better but it’s helping the environment as well by producing clean air. Why not pick one up at IKEA for $5 or under so you don’t feel so bad when you kill the first few.
- Try Going Green. No not the color, try updating your dorm to be a little more eco friendly. DormDelicious.com recommends switching to a Brita water filter, or hemp or bamboo bedding. Another easy way is switching your light bulbs for compact florescent bulbs. Not only are they cheaper but they last longer than regular bulbs.
- Make it Bigger. Okay so you can’t change the size of your room but you can make it look bigger. Try lofting your bed if you haven’t already it will save you a lot of space. Add a mirror or two strategically placed mirrors can make the smallest room look bigger.
Happy Spending! And good luck with the remodel!
by: Margaret Keag
Can textbooks really be free? It’s a great concept and the topic generates plenty of coverage, but what does it really mean? If you had asked me back in January 2008 what the buzz would be six months later I would have told you “textbook rental”. I was pretty sure that the concept of rental was going to really take off and catch the media by storm. I mean, what a great concept, you pay a lower price for your books getting the buyback value upfront and reducing your overall expense. Don’t get me wrong, rental is still a great choice for students but the idea of renting textbooks never got picked up. The media it seems, doesn’t seem to like things that are just cheaper, they want them to be free!
Unfortunately not everything in life can be free. Professors still have to be paid for the intellectual property (their ideas) that textbooks are based on. Photographers need to be paid for illustrations and images to make the book more interesting to read. Editors and printers need to be paid to put the book together and the bookstore (or online marketplace) needs to be paid for distributing the book to you. So, I guess if everyone wants to work for free then the textbook can be free as well?
As you see, to the dismay of many students, textbooks can’t be free. So what is the real future of textbooks and how can we reduce those costs? Let’s examine a few things that are going on right now.
Advertising Supported Textbooks – love this concept. The student’s accesses an online version of their textbook and gets peppered with ads that help to reduce or eliminate the cost of the books
Torrents – A student buys the book, scans it in and then posts it online in a file share program for others to download.
eBooks – As we have well documented in our blog, this is a new market in which students can access online or download the textbook for use.
Open Source Textbooks – using open source file sharing warehouses, professors can create and share content which can then be used in place of the traditional textbook
All of these have potential to make a dent in the cost of textbooks but none of them will be the “textbook killer” that the media is looking for.
Over the next few weeks we will examine each of these and see what benefits they can bring and what pitfalls to be aware of.
By: Jeff Cohen
I am always surprised at how many college students feel that they want to hold on to their textbooks and not maximize there value by selling them at buyback. Textbooks, like cars, are a depreciating asset. The greatest value for a textbook is seen selling it as early as possible.
I remember standing in line one day and watching the people in my class sell back their book for $55 apiece. When it was my turn they only offered me $20 for the same book. What happened? Why did I get less? It is the basic laws of supply and demand. The buyback program was only going to purchase so many copies back at the premium price. Once those were purchased the offer price drops as the books are no longer being purchased for your campus, they are being purchased for the wholesale market.
So how do you get the most value for your books? For starters you should have a sense of what the current online market looks like. How many sellers are selling your textbook and what online buyers are currently paying for it? This will help you make an informed decision while in the buyback line.
Next, sell you books back before your final class. As soon as your test gets out everyone in your class will be running to the buyback counter to sell back books. If you are not one of the lucky few who get to the line early you may not get the premium you are looking for.
Finally, don’t be stupid! If they are offering you 30% – 50% of the value of the book sell it now, don’t hold it until later. Your books will just sit on the shelf and collect dust for the next twenty years. You will pack and move them five times and then realize the information is out of date and they are worthless. We live in the information age where you can reference anything online; does that book really have a magical power that will help you succeed in a job?
By: Jeff Cohen