Finding Your APIs, Owning your APIs, & Using Your APIs to Grow Your Business #AdtechANZ
James Cormier and Myles Lagolago-Craig spoke about APIs and the benefits they bring to business. It was an interesting presentation as James Cormier works for Mashery which provides API software and commercial consultancy. Their largest customer is News Corp who Myles works for and he spoke about how using APIs have changed their business for the better.
James kicked off the presentation by stating that the conversation about APIs need to have conversations with marketers (not the tech team). James clarified the definition of an API as:
Application Programming Interface – allow two applications to communicate with one another.
What does API mean and what can it do with our business?
APIs quickly shift to a technical space, but instead it should be commercial. APIs should be thought of as a lock and key system. Every business has assets, but not everyone may realise this. For example, Netflicks streams content to third parties. ComCast’s asset is data (one of largest cable companies in the US). For Expedia, it is their flight and hotel booking services.
APIs unlock value by providing secure, controlled access to a company’s assets. Expedia realised its assets and now has many affiliates generating $ 2billion in revenue. Netflix can be streamed on over 1000 devices because Netflik has the ability to stream content.
APIs help develop products faster.
Amazon is a platforms services company. From its beginning it had teams working on different services (besides just selling books). Amazon Web Services generated brand new revenue streams than it had before. APIs transform businesses and make businesses stronger.
James told the audience that our mission is the following:
1. Find your APIs – because they already exist. APIs , make programming easier.
2. Own your APIs
Don’t let IT run your API strategy.
3. Use your APIs to Grow and develop a Go To Market Plan
Use APIs to create new opportunities and also one of the solutions to problems. Think of the grander opportunities.
Who are your customers?
- Expedia – it is the public
- Netflix – had a v strategyic decision – the device manufactuerers found them
- ComCast – this is all about internal efficiencies
So How is New Corp transforming their business with APIs?
APIs is about making money and saving money, real business value. Myles then explained why NewsCorp uses APIs with examples.
6 Reasons why NewsCorp uses APIs
1. Chasing the fragmentatiok (the users)
2. Chasing the segmentation (advertisers)
3. Better Products (operate in a market of extreme uncertainty)
4. Faster to Market
5. Cheaper Costs (build and maintain)
6. Unlock the Value of Assets
1. Interactive Ad for major advertiser
- Quick ad build on top of APIs
- $ 300k for one campaign
- Impossible before hand
2. Start up partnership
- 30 minute chat (mostly shooting the breeze)
- Simple 5 min set up
- Large effort beforehand
3. Integrate new acquisitions
- No new code needed from us
- 2 week end to end delivery
- New product in the “go to market” product mix
- Large effort beforehand
4. Product Refresh
- Dynamic, faster, cheaper
- Better for advertisers
The right business questions led us to APIs
- Find your APls
- Own Your APIs
- Use Your APIs