Do you wonder how to monetize your API? You should keep reading this post!
If you are a developer, you just made a good API that works perfectly, and you’re doubtful of what you should do next, you should publish it on an API marketplace and get money easily.
APIs (Application Programming Interfaces) are getting more important every day. Businesses are becoming more dependent on them to develop their tech modernization efforts and achieve their goals.
This is why API marketplaces started existing. Thanks to them now, it is easier for people to sell their APIs and to connect API producers and API consumers.
What are API marketplaces?
An online marketplace (or online e-commerce marketplace) is a type of e-commerce website where product or service information is provided by multiple third parties. Online marketplaces are the primary type of multichannel e-commerce and can be a way to streamline the production process.
An API marketplace is a user-friendly public hub where API providers can publish APIs for developers and partners to consume.
The marketplace also allows providers to monetize their APIs, usually by creating a subscription plan (or a variety of different subscription plans).
What’s the difference between an API Marketplace and API Portal?
Many people don’t know the difference between an API marketplace and an API portal. But the dissimilarity is clear.
Fist of all, you need to know that a single API producer usually deploys a portal. It enables developers to understand how the API works so that they can smoothly incorporate it into applications.
API portals are normally made from an API management template from scratch. They include a lot of features such as interactive explorers and tutorials for example and they have API documentation.
An API marketplace, on the other hand, brings together several API producers into a single view and allows developers to search and implement the APIs they like. So, in addition to the attributes of a portal, a marketplace aggregates multiple components into a single panel and lets API sellers and buyers connect with each other.
Monetize your API in Zyla API Hub
There are a lot of ways to monetize an API. Just as APIs are diverse the methodologies for monetizing them also vary. But the best way to do it, and the easiest, is with an API marketplace.
If you want to monetize your API in the Zyla API Hub marketplace, for example, you need to click on https://zylalabs.com/api-marketplace and go to developer and then “Add new API”.
Why do developers choose to use a marketplace?
Developers use APIs for all sorts of things. They can help you process payments, send emails and SMS texts, get the current weather, translate between currencies and languages, and much more.
Marketplaces like Zyla API Hub, handle customer acquisition, memberships, key management, rate limits, and payment collection processes so you can focus on just building fantastic APIs.
This is why you should try the user-friendly public hub: Zyla API Hub. With it, you can do things such as:
– Discover and connect to APIs.
– API providers can publish APIS for developers and partners to consume
Also, all APIS has a free plan and your credit card isn’t required.