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