Innovation Hacking
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This document discusses innovation hacking, which combines growth hacking, lean startup, and accelerator models to help companies gain exposure and be innovative. It provides examples of how companies like Dropbox, Airbnb, and Atlassian have used these techniques. The document advocates that companies leverage innovation hacking by locally incubating ideas, innovating their brands, and accelerating globally to stay ahead of competitors.
Innovation Hacking
- 1. INNOVATION HACKING From a Technology Startup’s Perspective 26th November 2013
- 2. ABOUT THE SPEAKER Chi Tran @buzzoids CEO |1CloudStar | AWS Consulting Partner • • • Passionate about all things Digital and Innovative Believes in the complete eco-system from Startups to Enterprises Former Vice President and Regional Chief Technology Officer OgilvyOne APAC, IBM, CSC, E-Technology Manager at Hutchison 3G.
- 3. BACKGROUND Almost Six Years ago At OgilvyOne We had an Idea
- 4. BACKGROUND Online Storage You can send files You can share files You have an exclusive invite for friends to join You can store your mobile files
- 5. We tried to sell it into clients for 2 years… @US$X Million
- 6. We tried to sell it into clients for 2 years… @US$X Million What is DropBox’s valuation? @US$8 Billion
- 7. BACKGROUND What can Brands and Agencies learn from Tech Startups?
- 9. INTRODUCTION INNOVATION HACKING " The marketing technique that combines:" " 1. Growth Hacking" 2. Lean Startup" 3. Accelerator models " " to sell products, gain exposure and be Innovative Local Incubation, Brand Innovation, Global Acceleration
- 10. INTRODUCTION Before we can understand Innovation Hacking, we must start from the beginning and understand a few things first.
- 11. GROWTH HACKING Growth Hacking “Is a marketing technique developed by technology startups which uses Creativity, Analytical Thinking and Social Metrics” Wikipedia
- 15. GROWTH HACKING Important parts of “growth hacking” is that you see opportunities from API documents and integration hooks… understanding them from a marketing perspective, from a manipulation and growth perspective
- 16. GROWTH HACKING Gartner 2013 CMO prediction: 50% of new marketing hires will have a Technical background
- 17. SUCCESS STORY Airbnb crawled Craigslist to enlist them onto Airbnb in addition to integrated listings through URL hacking and screen scraping
- 18. LEAN STARTUP Startup Bible – The Lean Startup “The Lean Startup method teaches you how to drive a startup-how to steer, when to turn, and when to persevere-and grow a business with maximum acceleration.” Eric Ries
- 19. LEAN STARTUP Minimum Viable Product Customer feedback over intuition Iterative approach vs large waterfall Understand when to Pivot or Perish Experimentation over elaborate planning
- 20. SUCCESS STORY Dropbox utilized these 2 approaches to great effect Created an Interactive Video First Beta registration validated customer demand (25x in one day) In 15 months, went from 100,000 registered users to over 4,000,000 To start there was no advertising; another consideration was scaling was hard Eventually hired SEO/SEM – Cost per Acquistion $233-$388 ($99 product) Switched to a WOM strategy – Viral Referral program increased 2way loyalty by 60%. 35% of all sign ups was through WOM
- 21. SUCCESS STORY Who has heard of the Orchestra, a company behind a “to-do” app? Who has heard of Mailbox the company behind the mobile first email experience for gmail? Now acquired by Dropbox
- 22. ACCELERATOR MODEL The last piece of the puzzle Accelerators
- 23. ACCELERATOR MODEL h7p://www.youtube.com/watch?hl=en-‐GB&gl=SG&v=6ERQ7ZtseWo
- 25. PuSng it all together What are the various examples of Innovation Hacking?
- 26. SUCCESS STORY Innovation Hacking Example: Innovation Day “Atlassian had inspired the bank to Innovate more” Suncorp CIO, Jeff Smith keynoteat AWS Reinvent “Ship-it-day” held quarterly Bonfire (Jira Capture) app generating more than $1m annually created on one of the days Nintendo reached out for help on Innovation
- 27. SUCCESS STORY Innovation Hacking Example: AWS Kinesis – real-time data analytics https://www.gosquared.com/blog/kinesis-demo-aws-reinvent-2013
- 28. SUCCESS STORY Innovation Hacking Example: PepsiCo10 “Exploring the future of Digital” Complete eco-system from Startups to Enterprise, PR, Social, Publishing Utilizing Growth Hacking, Entrepreneurs & Accelerators models to bring Innovation Instead of spending $Xm on a TV ad campaign to be “Innovative” – BE INNOVATIVE
- 30. WHAT ARE YOU GOING TO DO? Innovation Hacking is already here Cloud is a key enabler for Innovation and agility The Innovative corporations are are already leveraging the techniques and those who aren’t are looking for people to take them on that journey
- 31. InnovaXon Hacking Innovation Hacking Local Incubation Brand Innovation Global Acceleration
- 32. GET IN TOUCH Thank You Email: Chi@1CloudStar.com Twitter: @Buzzoids