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

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Presented at the Mobile Monetization Summit 2013 http://www.mmsummit.com

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  • 1. Innovation, apps, and the monetization hexagon What is innovation? How does one use it? Can we predict success? Eric Reiss @elreiss Mobile Montetization Summit Tel Aviv, Israel

2. Source: Financial Times, 6 October 2010 3. innovation noun 1 : the introduction of something new 2 : a new idea, method, or device 4. best practice noun 1 : best way of doing a thing 2 : a tested idea, method, or device 5. Best practices represent short-term solutions. Innovation builds long-term success. 6. Three bad reasons to innovate To differentiate your product/service To be original To satisfy your ego 7. Innovation invention 8. Experiment 9. Invention 10. Invention 11. Innovation15 April 1912 12. There is only one reason to innovate to solve a problem! 13. Law of Innovation #1 If an innovation does not solve a problem, it will create one. 14. Lets look at mouthwash... 15. Law of Innovation #2 Problems do not exist in isolation. Solutions often have unintended consequences. 16. Enfield M1853 Technological Social Political 17. Law of Innovation #3 Invention may be accidental. Innovation is always planned. 18. Fact: Innovators often break the established rules. 19. Law of Innovation #4 Innovators understand the rules. This is the difference between innovation and idiocy. 20. Law of Innovation #5 Intuitive solutions do not need instructions. 21. IntuitionInstructionWebsiteDriving a car Barrier to entryLowHigh 22. Type of innovationIncrementalDistruptive 23. ReturnOI nnvestmentMy problem is greater than the effort needed to learn the system 24. Best practice is not the same as tradition or habit. 25. Innovation Lifecycle Best practiceInnovation FashionProgressBest practiceInnovationHabitInvention Old-fashioned Time 26. Law of Innovation #6 Innovation almost always represents the combination of two well-known technologies to create a new, useful synthesis. 27. A hexagon 28. Foundation 29. PlatformQuick winsFoundation 30. FoundationPlatformQuick wins Useful Affordable Easy to adopt 31. Foundation Business critical Addictive Intrinsic valuePlatformQuick wins Useful Affordable Easy to adopt 32. Platform Showcase Conduit Social systemQuick winsFoundation 33. Platform Showcase Conduit Social systemQuick winsFoundation Well-defined market Multi-channel capability Cross-channel conversions 34. Platform Incentives Rewards Cross-salesQuick winsFoundation 35. Platform Incentives Rewards Cross-sales Subscriptions Upgrades ScalabilityQuick winsFoundation 36. 13 67 37. Good things dont happen to people who wait. You have to go out and f*ucking earn them! 38. PlatformQuick winsFoundation 39. Its amazing how much we can accomplish when you dont care who gets the credit. Harry S. Truman 40. 41. You can (usually) find Eric at: The FatDUX Group ApS Strandre 15 DK-2100 Copenhagen Denmark Office: (+45) 39 29 67 77 Mobil: (+45) 20 12 88 44 Twitter: @elreiss er@fatdux.com www.fatdux.com