066 067 7 Lessons for Bringing Innovations into the Marketplace By Shiv Singh SVP, Innovation & Strategic Partnerships, Visa Something very unusual happened on March 31, 2016, 01 02 03 when the CEO and founder of Breakthrough Use growth hacking Design products Tesla, Elon Musk, announced innovations should techniques to hockey- that other companies the Model 3, his new all- be launched in stick the adoption yearn to integrate. electric, four-door compact breakthrough ways. of your innovation. luxury sedan. Very little Anyone whose livelihood One of the biggest innovations marketing was done outside is dependent on bringing at the 2017 Consumer of a live-streamed webcast product innovations into the Consumers can become your best Growth hacking is considered Electronics Show was Alexa from advocates if you tap deeply into a murky art, but it’s time it got Amazon—except that Amazon and a few tweets to his Twitter marketplace can learn from their values with innovations that its moment in the sun. The more had no actual presence at the also help them construct their you invest in the growth hacking show itself. Rather, every other followers. But within a week, Elon Musk’s experience. For identities. You’re not just creating techniques for an innovation in its company on the show floor the company had received an industry going through and launching an innovation; very design and development, the was integrating Alexa into their you’re selling what the consumers more likely it is to succeed. That products and promoting it at 325,000 Model 3 reservations, as much change as financial should stand for in the future. includes designing for sharing, their booths. Designing and more than triple the number services, with massive You’re also selling what they virality, creating habits, and social building an incredible product should be telling their friends to rewards based on usage. Does your that enhaces every other product of Model S sedans Tesla had investments in fintech startups buy next. If it is done right (where banking app, retail loyalty app or in the marketplace and builds sold in all of 2015. Nobody in 2016 alone, the lessons you make your innovation not just wearable have enough growth an ecosystem is a win-win; it's technical, but social), you’ll be able hacking techniques baked into an under-leveraged strategy had ever seen, let alone test- are even more perilous. What to shift your marketing budget to its design? Here’s where we can for most companies today. other efforts and spend less on all learn from Facebook and its And that’s exactly why the API driven, this car. follows are seven to consider. promoting the innovations. secretive growth hacking team. economy matters so much today.