Welcome to the very first episode of Tyk’s new podcast: All About APIs. On our show, we’ll take a deep dive into the world of APIs, providing insights into designing, launching and maintaining APIs that enable business growth. If you have a thing for APIs, this is the podcast for you.
Each week, our co-hosts Budha and Sedky will explore a different API-aligned topic. First up: how and why to monetize your APIs.
Give episode 1 a listen here:
Understanding API monetization
On our inaugural episode of All About APIs, Postman Product Evangelist Kin Lane, who is also the founder of the API Evangelist blog, shares his extensive experience in the world of API monetization.
Speaking with Tyk’s Product Evangelist, Budha Bhattacharya, Kin dispels myths about monetization, explains what it actually is and provides valuable insights on how businesses can truly understand the value of their output. He explains:
“API monetization is an interesting realm to dive into. There’s so much nuance and detail to it. It’s one of those things that you’ll get 10 different answers about what it is, depending on which 10 people you talk to in the API space.”
A deep dive into monetizing APIs
Monetizing APIs and turning them into products isn’t just about publishing an API and charging for it. Kin observes:
“There’s so much more to actually doing an API than just the technical side of the API or the business of making it public. With product management, there’s a lot of nuance to how you build these products. What makes an API product? A lot of people say if you publish your API publicly and you’re charging for it, it’s a product. No. There are actually feedback loops involved – and value exchange. There’s a lot more to it than just the API management and vendor vision of it.”
API monetization and value
Understanding the value of your APIs is key to successful monetization, but it’s so often overlooked. It’s a topic that Budha and Kin explore in depth in the podcast, as Kin explains:
“It’s not always just about the direct revenue and it’s not always about charging. I tell a lot of companies they should just focus on understanding who’s using and measuring that value… then let’s have a conversation about how we can iterate or evolve on this value and keep it more in alignment with your business goals.”
Like what you’re hearing? Then be sure to tune in every other Wednesday when new episodes are released. Better yet, subscribe on your favourite platform so you never miss an episode!
