What’s It Worth to You? A Return on Investment

Study of Selected Colorado Public Libraries

Presented by

Nicolle Steffen, Director

Zeth Lietzau, Associate Director

Library Research Service

What’s It Worth to You? A Return on Investment Study of Selected

Colorado Public Libraries

or

Public Libraries –A Wise Investment

Presentation OverviewPresentation Overview• Timeline

• Participating Libraries

• ROI Methodology

• Major findings

• Tools and Resources

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Timeline: Study Set-upTimeline: Study Set-up• Late 2005 - idea is born

• Spring 2006 – proposal submitted

• June 2006 – research begins

• August 2006 – advisory committee meets

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Timeline: Data CollectionTimeline: Data Collection• Fall 2006 – library survey

• Spring 2007– key informant interviews

– patron survey (~5,000)

• Summer 2007 – data entry and analysis

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Timeline: Reports & ToolsTimeline: Reports & Tools• September 2007 – Public

Libraries – A Wise Investment (individual library reports)

• October 2007 – Library & Patron ROI Calculators

• Future Resources– Closer Look Report– Summary brochure– Demographic analysis

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LibraryLSA

Population

CORTEZ PUBLIC LIBRARY 8,550

DENVER PUBLIC LIBRARY 571,848

DOUGLAS COUNTY LIBRARIES 251,418

EAGLE VALLEY LIBRARY DISTRICT 40,107

FORT MORGAN PUBLIC LIBRARY 10,968

MESA COUNTY PUBLIC LIBRARY DISTRICT 130,662

MONTROSE LIBRARY DISTRICT 37,147

RANGEVIEW LIBRARY DISTRICT 302,907

Participating LibrariesParticipating Libraries

Participating LibrariesParticipating LibrariesP

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Participating LibrariesParticipating Libraries

Library

% of Non-Resident

Borrowers

CORTEZ PUBLIC LIBRARY 55%

DENVER PUBLIC LIBRARY 15%

DOUGLAS COUNTY LIBRARIES 9%

EAGLE VALLEY LIBRARY DISTRICT 8%

FORT MORGAN PUBLIC LIBRARY 42%

MESA COUNTY PUBLIC LIBRARY DISTRICT 2%

MONTROSE LIBRARY DISTRICT 19%

RANGEVIEW LIBRARY 10%

Contingent Valuation

+ Cost to Use Alternatives+ Lost Use+ Direct Local Expenditures+ Lost Compensation for Library

Staff+ Halo Spending

Divided by Local Investment

ROI - MethodologyROI - MethodologyP

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Return on Investment FactorsMontrose Library District

Cost to Use Alternatives $5,408,539

Lost Use $498,200

Direct Local Expenditures $122,321

Lost Compensation for Library Staff

$687,735

Halo Spending $615,116

Total Return on Investment $7,331,911

Total Local Investment

$1,375,441

Return per Dollar Invested $5.33

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ROI - Eight Colorado Libraries

Eagle Valley Library District $4.28

Mesa County Public Library District $4.57

Rangeview Library District $4.81

Denver Public Library $4.96

Douglas County Libraries $5.02

Montrose Library District $5.33

Fort Morgan Public Library $8.80

Cortez Public Library $31.07

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$5

$1

$100 Invested

Yields$500

Return

Out of State ROI Findings Summary

State Scope ROI

FL State $6.54

PA State $5.50

SC State $4.48

NY County $3.93

OH 9 libraries $3.81

PA Individual Library $3.00

     

  Mean $4.54

  Median $4.21 Pu

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Returns on Investment by LibraryReturns on Investment by Library

Percentage of Respondents Who Indicated TheyVisited the Library 25 Times or More in the Past 12 Months

44%

54%

54%

60%

61%

62%

65%

66%

0% 10% 20% 30% 40% 50% 60% 70%

FORT MORGAN PL

CORTEZ PL

MONTROSE LD

RANGEVIEW LD

MESA COUNTY PLD

EAGLE VALLEY LD

DOUGLAS CLD

DENVER PL

Lib

rary

Percentage of Respondents

Returns on Investment by LibraryReturns on Investment by Library

Percentage of Respondents Who Indicated TheyWould Have Spent $20 or More For An Information Alternative

50%

50%

52%

52%

54%

63%

66%

70%

0% 10% 20% 30% 40% 50% 60% 70% 80%

MESA COUNTY PLD

MONTROSE LD

DENVER PL

RANGEVIEW LD

FORT MORGAN PL

DOUGLAS CLD

CORTEZ PL

EAGLE VALLEY LD

Lib

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Percentage of Respondents

Returns on Investment by LibraryReturns on Investment by LibraryPercentage of Respondents Who Indicated TheyUsed a Library Computer in the Past 12 Months

64%

67%

69%

71%

76%

77%

77%

83%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

FORT MORGAN PL

CORTEZ PL

RANGEVIEW LD

MONTROSE LD

MESA COUNTY PLD

DOUGLAS CLD

EAGLE VALLEY LD

DENVER PL

Lib

rary

Percentage of Respondents

Returns on Investment by LibraryReturns on Investment by Library

Percentage of Respondents Indicating TheyConnected to a Colorado Library in the Past 12 Months

32%

33%

36%

44%

49%

50%

56%

74%

0% 10% 20% 30% 40% 50% 60% 70% 80%

FORT MORGAN PL

CORTEZ PL

MONTROSE LD

EAGLE VALLEY LD

MESA COUNTY PLD

RANGEVIEW LD

DENVER PL

DOUGLAS CLD

Lib

rary

Percentage of Respondents

Public Libraries – A Wise Investment