Innovation at Israel Mobile Monetization Summit

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Everyone talks about innovation. But what is it? Everyone is developing apps. But will they gain traction in the marketplace? We all want to monetize our creations, but is there a recipe for success?

Perhaps there is. And I presented a new model for evaluating our work at the Mobile Monetization Summit in Tel Aviv in December 2013

Published in: Design, Business, Technology
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Innovation at Israel Mobile Monetization Summit

  1. 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. 2. Source: Financial Times, 6 October 2010
  3. 3. in·no·va·tion noun 1 : the introduction of something new 2 : a new idea, method, or device
  4. 4. best prac·tice noun 1 : best way of doing a thing 2 : a tested idea, method, or device
  5. 5. Best practices represent short-term solutions. Innovation builds long-term success.
  6. 6. Three bad reasons to innovate To differentiate your product/service To be “original” To satisfy your ego
  7. 7. Innovation ≠ invention
  8. 8. Experiment
  9. 9. Invention
  10. 10. Invention
  11. 11. Innovation 15 April 1912
  12. 12. There is only one reason to innovate… to solve a problem!
  13. 13. Law of Innovation #1 If an innovation does not solve a problem, it will create one.
  14. 14. Let’s look at mouthwash...
  15. 15. Law of Innovation #2 Problems do not exist in isolation. Solutions often have unintended consequences.
  16. 16. Enfield M1853 • Technological • Social • Political
  17. 17. Law of Innovation #3 Invention may be accidental. Innovation is always planned.
  18. 18. Fact: Innovators often break the established rules.
  19. 19. Law of Innovation #4 Innovators understand the rules. This is the difference between innovation and idiocy.
  20. 20. Law of Innovation #5 Intuitive solutions do not need instructions.
  21. 21. Intuition Instruction Website Driving a car Barrier to entry Low High
  22. 22. Type of innovation Incremental Distruptive
  23. 23. R eturn OI n nvestment “My problem is greater than the effort needed to learn the system”
  24. 24. Best practice is not the same as tradition or habit.
  25. 25. Innovation Lifecycle Best practice Innovation Fashion Progress Best practice Innovation Habit Invention Old-fashioned Time
  26. 26. Law of Innovation #6 Innovation almost always represents the combination of two well-known technologies to create a new, useful synthesis.
  27. 27. A hexagon
  28. 28. Foundation
  29. 29. Platform Quick wins Foundation
  30. 30. Foundation Platform Quick wins • Useful • Affordable • Easy to adopt
  31. 31. Foundation • Business critical • Addictive • Intrinsic value Platform Quick wins • Useful • Affordable • Easy to adopt
  32. 32. Platform • Showcase • Conduit • Social system Quick wins Foundation
  33. 33. Platform • Showcase • Conduit • Social system Quick wins Foundation • Well-defined market • Multi-channel capability • Cross-channel conversions
  34. 34. Platform • Incentives • Rewards • Cross-sales Quick wins Foundation
  35. 35. Platform • Incentives • Rewards • Cross-sales • Subscriptions • Upgrades • Scalability Quick wins Foundation
  36. 36. 13 6 7
  37. 37. Good things don’t happen to people who wait. You have to go out and f*ucking earn them!
  38. 38. Platform Quick wins Foundation
  39. 39. “It’s amazing how much we can accomplish when you don’t care who gets the credit.” Harry S. Truman
  40. 40. ‫שלום‬
  41. 41. You can (usually) find Eric at: The FatDUX Group ApS Strandøre 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

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