API productization is a critical component in realizing value from your API investments. Productization starts as a mindset yet quickly evolves into both a design strategy and a set of expectations. It is also the basis for establishing an API Lifecycle and shapes your API practice. But what does productization mean and how does it apply to APIs?
We believe API productization is a critical component in realizing value from your API investments. Productization starts as a mindset yet quickly evolves into both a design strategy and a set of expectations. It is also the basis for establishing an API Lifecycle and shapes your API practice.
What is Productization?
Investopedia defines productization as: “To take a new service, product or product feature… and turn it into a standard, fully tested, packaged, supported and marketed product.”
As a topic, productization is too broad to cover in this article but there are a few essential aspects relevant to our API CX discussion:
- Empathy: Empathize with consumer needs in your target market - products that don’t address a pain point generally fail
- Business Value: Does the value generated exceed upfront and operating costs
- CX: Consumer experience can dramatically amplify or attenuate adoption
- Intuitive Design: Consumers despise having to ask for support - make your product self-evident
- Cost Efficiency: Providing consumer support has a high cost (e.g. $, time, missed opportunities, etc.) - see item 2
- Marketing: Consumers need to know a product exists and what it does before they will use it - your product needs to be intentionally marketed
- Instruction: Even the most elegant products provide consumers with essential instruction - failure to do so will result in lower adoption & higher support costs
This set of concepts combined becomes the basis for:
- Creating potential value for both consumers and your company
- Realizing value through practices that lead to discovery & adoption by consumers
- Ensuring positive return on investment
API & Digital Transformation Strategist