APIs are a way to expose certain assets for consumption through a simple and documented interface. Linking this idea with the API Economy concept, through which companies boost their growth with the consumption and monetization of APIs; these digital products become a strategic business asset. Keep reading Top API Monetization Platform With Enterprise Plans, we will tell you about Zyla API Hub; a key tool to monetize your APIs.
But when we talk about monetization, what do we mean?
The first idea that comes to mind is direct monetization, that is, charging for each use of our API. Some well-known examples are Twilio or Stripe, benchmarks in the market and success stories that inspire us to follow this path.
This would be the first monetization pattern: APIs as a product, but are there other ways to get revenue from the exposure of my APIs? The answer is yes, and for those companies that have recently started their API Journey; or that have focused on internal consumption; it is important to know these other models, since direct monetization in many cases is a distant aspiration.
The other approach is indirect monetization, in which we find several approaches. The first one consists of monetizing a product that exposes APIs, not the APIs themselves; in this sense, we have the following patterns:
APIs as a sales funnel. In this model, APIs play a decisive role in the sales process, normally associated with the integration of the product with third parties. For example, the sale of life or home insurance when applying for a mortgage or ecommerce products that allow you to receive orders from other websites or apps.
APIs as an important functionality of the product since thanks to them it will be able to integrate into the company’s digital ecosystem; access product data, facilitate its customization and, above all, differentiate itself from the competition.
Advantages of an API marketplace
Buyers will thank you for their convenience:
They allow them to find a huge variety of products or services in one place. The possibility of easily finding the necessary products, filtering them and comparing prices is quite comfortable.
They can access quite comfortable and safe purchase conditions. Many people have more confidence in marketplaces than in an unknown e-commerce. They know that the marketplace in which they have bought will answer for them in front of the seller.
But the main advantages are for sellers:
First of all, for providers it is the possibility of accessing a much higher level of traffic than with their own e-commerce. Both nationally and internationally.
On the other hand, the sale of products and services through marketplaces allows access to a new sales channel; and even position itself as a leader in a specific product or service. In this sense, the reputation of the seller on the platform is key.
And finally, marketplaces usually take care of many “secondary” aspects, such as payment, the UX of your page, etc.
Zyla API Hub
In terms of website functionality, payment methods, and professional support, Zyla API Hub stands out from the competition. Your APIs may become profitable thanks to our platform for API monetization. With help of the proposed marketing tactics and SEO curation, it enables you to increase current traffic in order to expand your audience. You’ll be able to attract clients like never before as a consequence!
Zyla continuously assures the highest quality of its APIs through technical assessments and sales follow-up.
The Zyla Labs team can receive assistance in locating reasonable prices and providing adaptable solutions for you and your clients. It’s simple to publish your works on the Zyla API Hub, and it will fundamentally alter how you promote your goods and generate revenue.
If you want to know more about it, we recommend you read The Most Complete Starter Guide To Sell On Zyla API Hub
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Also published on Medium.