Drive Your Growth – Monetize Your Innovations

Nothing ventured, nothing gained: Companies need to innovate not just to stay ahead, but to even survive competition. Despite this however, the failure rate for innovations is shockingly high: Nearly three out of four new products or services miss their revenue and profit goals. How can you make sure your innovations succeed?

At Simon-Kucher, monetizing innovation is one of the main pillars we place our clients’ success on. But what does this term mean? Why is it so important to not only be good at what you are doing now, but to also tap into new attractive business areas? And more importantly, how do you do it successfully? Our findings show that 72 percent of innovations fail to meet their financial targets or fail entirely – which means many companies aren’t quite sure how to monetize their innovations…