An API ecosystem refers to a community comprising developers and businesses using a company’s API stated Bahaa Al Zubaidi. It is in the company’s interest to build an ecosystem to promote their API and increase its use among developers. If you are involved in API building and want to create a successful ecosystem, you can go through the best practices we have listed.

You can follow these best practices to build an ecosystem.

Identify your assets

You must identify the digital assets that are of value. Once the assets are identified, you can then create APIs. Doing this makes the APIs accessible, so they can be reused. At the same time, you can continue to have control over how the APIs are used.

Know the audience

It is important to know your audience. Who are the people who will use your APIs? Once you understand this, you can then focus on their needs. If you identify a certain target audience of developers, you can interact with them to find out their API-related requirements. The information you get can be the basis to create APIs.

Make a package

Packaging your offerings is a good idea. All APIs related to your assets can be made as API products. You can then make a package from related APIs. This approach will help you target needs of your target audience. You can also monetize the APIs, so you can earn good revenue from them. You can consider charging based on use or on revenue sharing basis.

Ensure your APIs can be discovered

A very important step is to ensure developers and businesses can discover your API. You must look at API marketplaces to make it available for the public. You can also look at developer portals to give access to your API. Doing this will allow you to test your API and get feedback before the final release.

Evaluate how your ecosystem is doing

You must evaluate the performance of your ecosystem. The analysis must be on both technical and business terms. Find out through feedback from developers and businesses whether the API meets their needs. If monetized, evaluate revenue performance to find out how well it is accepted in the market. In case, you have SLAs for your APIs then you need continuous monitoring. It would help you ensure it is available at all times and is secure.

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