What API Means for Your Small Business?
Netflix is able to stream to over 200 different device types thanks to its API.
60% of eBay’s listings are done through their API.
Twitter receives over 13 billion API calls daily.
These companies made huge investments in their API strategy and are now reaping the rewards. Startups and small businesses are creating their own APIs. But remember, an open API is not a feature; it is a product in its own right. It needs its own business justification, user personas, clear use cases, a roadmap, launch plan or even a revenue model. Probably you’ll be diggin’ in an API design book. Including an API as part of your product or service has many business advantages that can boost your success:
- It allows your customers to innovate at their own pace
You’ll never be able to meet the needs of every single customer, no matter how fast you release new features. Yet having an API gives your customers or their development partners an allowance to customise your web portal and API web design. They can build the exact solution they need today with your API. So your product strategy needs to inform which APIs you need to build first this way you can determine the most critical functionality right away.
- It enables professional services revenue
Through API you can meet your customer demands such as a particular feature or customization you currently don’t have. With API it will be a very common thing to have an implementation team that is focused on developing one-off features for specific clients. This also helps keep your core development team focused on developing strategic features or design web API that will solve problems for your critical users.
- You can build a partner network
A partner network can bring scalability and additional revenue to your organisation through API even while your sales team is finite. When you have API partners can integrate their own API into your product or they can build custom tools as well as functionality on top of your product or service. The best thing about it is that partners can help you sell your product since they want to sell their products or services on top of it. The strategy is to create a partner network to leverage your API. You can automatically create new sales channels and scale your sales and marketing teams.
How to start? If you have any questions about how to use this new API get top insights and news from our app development experts.