Surprising rules for successful monetization
Innovation is the most important driver of growth. Today, more than
ever, companies need to innovate to survive. But successful
innovation--measured in dollars and cents--is a very hard target to hit.
Companies obsess over being creative and innovative and spend
significant time and expense in designing and building products, yet
struggle to monetize them: 72% of innovations fail to meet their
financial targets--or fail entirely. Many companies have come to accept
that a high failure rate, and the billions of dollars lost annually, is
just the cost of doing business.
Monetizing Innovations argues that this is tragic, wasteful, and
wrong.
Radically improving the odds that your innovation will succeed is just a
matter of removing the guesswork. That happens when you put customer
demand and willingness to pay in the driver seat--when you design the
product around the price. It's a new paradigm, and that opens the door
to true game change: You can stop hoping to monetize, and start knowing
that you will.
The authors at Simon Kucher know what they're talking about. As the
world's premier pricing and monetization consulting services company,
with 800 professionals in 30 cities around the globe, they have helped
clients ranging from massive pharmaceuticals to fast-growing startups
find success. In Monetizing Innovation, they distil the lessons of
thirty years and over 10,000 projects into a practical, nine-step
approach. Whether you are a CEO, executive leadership, or part of the
team responsible for innovation and new product development, this book
is for you, with special sections and checklist-driven summaries to make
monetizing innovation part of your company's DNA. Illustrative case
studies show how some of the world's best innovative companies like
LinkedIn, Uber, Porsche, Optimizely, Draeger, Swarovski and big
pharmaceutical companies have used principles outlined in this book.
A direct challenge to the status quo "spray and pray" style of
innovation, Monetizing Innovation presents a practical approach that can
be adopted by any organization, in any industry. Most monetizing
innovation failure point home. Now more than ever, companies must
rethink the practices that have lost countless billions of dollars.
Monetizing Innovation presents a new way forward, and a clear promise:
Go from hope to certainty.
