Andrei Dementjev COO Fortumo About Fortumo Leading provider of user acquisition retention and carrier billing solutions Global coverage in 10 0 countries with over ID: 658166
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Slide1
Into the unknown: how to innovate when things go well?
Andrei
Dementjev
COO,
FortumoSlide2
About Fortumo
Leading
provider
of user acquisition, retention and carrier billing solutions
Global coverage in 100+ countries with over 350 carriersOver 170,000 merchants signed upInvestment from Intel Capital in February 2013Products: Payments (Web SDK, Android SDK, Direct API)Bundling APIMessaging APISlide3
Quickly changing market, constant need to pivot
2007:
”Igaühe
M-Äri
”2010:Gaming, social networks, apps2017-2018:Bundling, messaging, mobile commerce
2015:
App
stores
,
digital
content
Negligible
revenue
,
N
egative
growth
71% of revenue,9% growth (declining)
29% of revenue, 222% growth (increasing)
???Slide4
Constant challenge for companies that start out with one “killer product”Slide5
Because banks were doing too well to innovate.
Why do
TransferWise
,
Revolut and Stripe exist?Slide6
Focus days, internal hackathons:good, but not enough
…Slide7
How did we launch a new product without increasing headcount or outsourcing?Slide8Slide9
Framework to support innovation:OKRs & busines
validation pipelineSlide10
Framework to support innovation:active reduction of manual work
JIRA ticket:
“Please add custom revenue shares
For merchant X. Spreadsheet attached.”
Time: ~1 hour by software engineerUpload spreadsheet to back-office.Validate commercial offer.Apply new revenue shares.Time: ~15 minutes by account managerSlide11
Framework to support innovation:giving permission to “steamroll”Slide12
Framework to support innovation:avoiding “public procurement” logicSlide13
Sell before you build, build with the customerSlide14
Building for scaleSlide15
Looking beyond your existing segmentsSlide16
Going with your gut feelingSlide17
Questions we askedwhen building ourbundling platformSlide18
What other problems do our customers have?
Acquisition + Monetization + Retention
We were focused on thisSlide19
What other problems do our customers have?
Acquisition + Monetization + Retention
But what about this?Slide20
What other problems do our customers have?
Acquisition + Monetization + Retention
And this?Slide21
What’s the biggest pain we’re solving for our customers?
Without us:350 mobile operator partners
350 integrations
With us:
350 mobile operator partners1 integrationIf we do it for payments, can we do it for anything else?Slide22
What resources and knowledgecan we reuse?Slide23
Do we need to changethe business model?
Subscription, freemium, free, marketplace, access-over-ownership,
hypermarket, experience, pyramid, on-demand, ecosystemSlide24
Who can we validate this with?Slide25
What’s the complexity?Slide26
When do we start development?Slide27
PRACTICAL PARTSlide28
PRACTICAL PARTIDEA SHARINGSlide29
Q & ASlide30
Thanks + contacts