There is a misconception that product commercialisation will automatically lead to monetisation. Many organisations assume that once they launch their new product, revenue generation will naturally follow.

This is not always the case.

Innovation is often seen as the key to business survival and growth. However, the ability to innovate alone is not enough. Success lies in the ability to commercialise your innovations effectively and, crucially, to monetise them so that you are achieving sustainable revenue streams.

Assuming that one will automatically lead to the other can result in missed revenue opportunities and underperforming innovations.

For many businesses, the distinction between commercialisation and monetisation is blurred. Studies show that over 70% of new products fail to meet their revenue target.

Do you have a robust process in place that enables you to launch successful products and monetise your innovations?