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Damien Henry
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Monetizing Innovation

Monetizing Innovation

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Tl;dr:

Find the Willingness to pay (WTP) and segment your users before everything else.

4 types of failures

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5 myths

  1. If you build a great product, customer will pay a fair value for it
  2. The new product or service must be controlled entierely by the innovation team working in isolation
  3. High failure rate of innovation is normal and is even necessary
  4. Customer must experience a new product before they can say how much they'll pay for it.
  5. Until a business knows precisely what's it's building, it cannot possibly asses what it is worth.

9 rules for successful monetization

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Have the "Willingness to pay" talk early
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Don't default to a One Size Fits All Solution
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Configuration and bundling is more science than art
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Go beyond the Price point (how you charge is more important than what you charge)
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Market share or Premium Branding?
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From Hoping to knowing
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The Innovation wont speak for itself
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Use behavioral Pricing tactics to Persuade and sell
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Maintain your price integrity

Screenshots

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