innovation, apps and the monetization hexagon - eric reiss, fatdux

Innovation, apps, and the monetization hexagon

Eric Reiss@elreiss

Mobile Montetization SummitTel Aviv, Israel

What is innovation?How does one use it?

Can we predict success?

Source: Financial Times, 6 October 2010

in·no·va·tionnoun

1 : the introduction of something new2 : a new idea, method, or device

best prac·ticenoun

1 : best way of doing a thing2 : a tested idea, method, or device

Best practices representshort-term solutions.

Innovation buildslong -term success.

Three bad reasons to innovate

To differentiate your product/serviceTo be “original”To satisfy your ego

Innovation ≠ invention

Experiment

Invention

Invention

Innovation

15 April 1912

to solve a problem!

There is only one reason to innovate…

Law of Innovation #1

If an innovation does not solve a problem, it will create one.

Let’s look at mouthwash ...

Law of Innovation #2

Problems do not exist in isolation.Solutions often have unintendedconsequences.

Enfield M1853

• Technological• Social• Political

Law of Innovation #3

Invention may be accidental.Innovation is always planned.

Fact:

Innovators often break the established rules .

Law of Innovation #4

Innovators understand the rules.

This is the difference betweeninnovation and idiocy.

Law of Innovation #5

Intuitive solutions do notneed instructions.

Intuition Instruction

Website Driving a car

Low High

Barrier to entry

Incremental Distruptive

Type of innovation

eturn n nvestmentR“My problem is greater than the

effort needed to learn the system”

O I

Best practice is not the same astradition or habit .

Invention

Innovation Lifecycle

Innovation

Best practice

Habit

Innovation

Best practice

Fashion

Old-fashioned

Time

Pro

gres

s

Law of Innovation #6

Innovation almost always represents the combination oftwo well-known technologies tocreate a new, useful synthesis.

A hexagon

Foundation

Foundation

Platform

Qui

ck w

ins

Foundation

Platform

Qui

ck w

ins

• Useful• Affordable• Easy to adopt

Foundation

Platform

Qui

ck w

ins

• Useful• Affordable• Easy to adopt

• Business critical• Addictive• Intrinsic value

Foundation

Platform

Qui

ck w

ins

• Showcase• Conduit• Social system

Foundation

Platform

Qui

ck w

ins

• Showcase• Conduit• Social system

• Well-defined market• Multi-channel capability• Cross-channel conversions

Foundation

Platform

Qui

ck w

ins

• Incentives• Rewards• Cross-sales

Foundation

Platform

Qui

ck w

ins

• Incentives• Rewards• Cross-sales

• Subscriptions• Upgrades• Scalability

6 713

Good things don’t happen to people who wait .

You have to go out and f*ucking earn them !

Foundation

Platform

Qui

ck w

ins

“It’s amazing how much we canaccomplish when you don’t carewho gets the credit.”

Harry S. Truman

שלום

You can (usually) find Eric at:The FatDUX Group ApSStrandøre 15DK-2100 CopenhagenDenmark

Office: (+45) 39 29 67 77Mobil: (+45) 20 12 88 44Twitter: @elreisser@fatdux.comwww.fatdux.com