Description
Book SynopsisSurprising 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.
Table of ContentsForeword xi
Acknowledgments xiii
Part One: The Monetizing Innovation Problem 1
Chapter 1 How Innovators Leave Billions on the Table: A Tale of Two Cars 3
Chapter 2 Feature Shocks, Minivations, Hidden Gems, and Undeads: The Four Flavors of Monetizing Innovation Failure 15
Chapter 3 Why Good People Get It Wrong 33
Part Two: Nine Surprising Rules for Successful Monetization 37
Chapter 4 Have the “Willingness-to-Pay” Talk Early: You Can’t Prioritize without It 39
Chapter 5 Don’t Default to a One-Size-Fits-All Solution: Like It or Not, Your Customers Are Different 53
Chapter 6 When Designing Products, Configuration and Bundling is More Science Than Art 63
Chapter 7 Go beyond the Price Point: Five Powerful Monetization Models 79
Chapter 8 Price Low for Market Share or High for Premium Branding? Pick the Winning Pricing Strategy 97
Chapter 9 From Hoping to Knowing: Build an Outside-In Business Case 111
Chapter 10 The Innovation Won’t Speak for Itself: You Must Communicate the Value 121
Chapter 11 Use Behavioral Pricing Tactics to Persuade and Sell: Sometimes Your Customers Will Behave Irrationally 135
Chapter 12 Maintain Your Price Integrity: Avoid Knee-Jerk Repricing 149
Part Three: Success Stories and Implementation 161
Chapter 13 Learning from the Best: Successful Innovations Designed around the Price 163
The Porsche Story—Veering Off the Sports Car Track to Create Two Winning Vehicles 164
LinkedIn—Monetizing the World’s Largest Professional Network 170
Dräger—Collecting the Specs for Successful Industrial Products before Engineering 174
Uber—Monetizing a Disruptive Innovation through Innovative Price Models 182
Swarovski—The Payoff from Crystal-Clear Ideas on What Consumers Will Pay 188
Optimizely—How to Price Breakthrough Innovation 194
Innovative Pharma—How a Customer Value Driven R&D Approach Boosts Success 200
Chapter 14 Implementing the “Designing the Product around the Price” Innovation Process 207
Notes 219
Index 227
