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 …

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

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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. in·no·va·tion noun 1 : the introduction of something new 2 : a new idea, method, or device
  • 4. best prac·tice 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. Innovation 15 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. Let’s 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. Intuition Instruction Website Driving a car Barrier to entry Low High
  • 22. Type of innovation Incremental Distruptive
  • 23. R eturn OI n nvestment “My 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 practice Innovation Fashion Progress Best practice Innovation Habit Invention 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. Platform Quick wins Foundation
  • 30. Foundation Platform Quick wins • Useful • Affordable • Easy to adopt
  • 31. Foundation • Business critical • Addictive • Intrinsic value Platform Quick wins • Useful • Affordable • Easy to adopt
  • 32. Platform • Showcase • Conduit • Social system Quick wins Foundation
  • 33. Platform • Showcase • Conduit • Social system Quick wins Foundation • Well-defined market • Multi-channel capability • Cross-channel conversions
  • 34. Platform • Incentives • Rewards • Cross-sales Quick wins Foundation
  • 35. Platform • Incentives • Rewards • Cross-sales • Subscriptions • Upgrades • Scalability Quick wins Foundation
  • 36. 13 6 7
  • 37. Good things don’t happen to people who wait. You have to go out and f*ucking earn them!
  • 38. Platform Quick wins Foundation
  • 39. “It’s amazing how much we can accomplish when you don’t care who gets the credit.” Harry S. Truman
  • 40. ‫שלום‬
  • 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