Top 5 ways an API marketplace can drive growth for your business
API marketplaces are critical for growth and adoption because they make API consumption faster and easier. What if app developers didn’t have to hunt around for the right API because it’s already packaged and neatly categorized in a central API marketplace you built, where it can be found and adopted instantly? Think of how quickly you can move your new digital initiative to market.
Download the checklist below to see the top five ways an API marketplace can fuel long-term growth for your business.
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Bring services together logically - Businesses can have centralized visibility and data extending across all API platforms by investing in universal API management. Whether your consumer is internal or external, you’ll have the means to measure API consumption and engagement with all your APIs.
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Validate, secure, and govern these services - Centralized visibility of APIs provides a holistic view of the policies used to control APIs while shedding light on unmanaged APIs vulnerable to threats and attacks. These steps help ensure that APIs are secure for consumption before being brought to the target market.
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Define API products - Thinking about APIs in the context of a product extends the conversation beyond IT. It taps into considerations to make in the digital strategy around the interface, from how you’ll measure the quality of service inside the API package to how you’ll advertise and market your API to what kind of pricing/subscription plans you’ll put around the API.
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Build a versatile API marketplace - As the shopfront for your API ecosystem, the API marketplace makes data exchange and experiences possible. By pairing relevant classification systems that cater to your marketplace’s current and future members with self-service capabilities that avoid bottlenecks, you can create a positive digital experience that drives API adoption.
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Measure value and performance - From increased revenue to an improved Net Promoter Score (NPS), data from your API marketplace should give you the insights to measure what matters most. It can provide insights into the direct contributions of API delivery to your business outcomes and pinpoint areas for improvement to drive further engagement.
Learn about API marketplaces and how they can deliver successful business outcomes
Whether you’re looking to build a public developer portal, grow a sophisticated partner ecosystem, or just regain some control over multiplying internal assets, an API marketplace can answer this key question: how will you discover, validate, curate, and productize the capabilities your consumers will want to adopt?
Learn more in this webinar, where we discuss the following:
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Building API products to enable critical business capabilities
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Why universal API management is a key aspect of an API marketplace
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How an API marketplace addresses both internal and external consumers
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Insights gained for API Platform Teams, API Product Managers, and API Consumers
