innovation, apps and the monetization hexagon - eric reiss, fatdux
DESCRIPTION
Presented at the Mobile Monetization Summit 2013 http://www.mmsummit.comTRANSCRIPT
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
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ins
• Useful• Affordable• Easy to adopt
Foundation
Platform
Qui
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• Useful• Affordable• Easy to adopt
• Business critical• Addictive• Intrinsic value
Foundation
Platform
Qui
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ins
• Showcase• Conduit• Social system
Foundation
Platform
Qui
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ins
• Showcase• Conduit• Social system
• Well-defined market• Multi-channel capability• Cross-channel conversions
Foundation
Platform
Qui
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• Incentives• Rewards• Cross-sales
Foundation
Platform
Qui
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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: @[email protected]