For over 40 years, 3M Library Systems, a part of diversified conglomerate 3M Company ( MMM ), has been offering innovative library services to its customers. With updated applications, check-out and listening capabilities, the 3M Cloud Library provides a flawless transition for both readers and librarians. On the other hand, OverDrive has emerged as a leading full-service digital distributor of eBooks, audiobooks, music and video globally since its inception in 1986.
A recent survey has revealed that respondents that use both the 3M Cloud Library and OverDrive achieve double customer satisfaction through the former compared to the latter. The survey further revealed that 38% respondents were 'very satisfied' with 3M Cloud Library compared to only 14% with the OverDrive usage.
3M appears to be more in sync with the rapidly changing needs of eBooks in public libraries. Although both Overdrive and 3M Library offer similar material in different ways, 3M Cloud Library appears to have a distinct competitive advantage. From tracking books to controlling costs and keeping library patrons happy, 3M remains committed for its customer's success.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus ensuring the security of people and documents.
3M remains focused on inventing new products and maintaining its competitive advantage worldwide. About 47% of the people using 3M Cloud Library are likely to recommend it to other libraries. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Noble Group Limited ( NOBGY ), having a Zacks Rank #1 (Strong Buy), and CLARCOR Inc. ( CLC ) and Crane Co ( CR ), both having a Zacks Rank #2 (Buy).