What are your APIs Worth?
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Mapquest and Apigee on monetization at I Love APIs 2015
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What are your APIs Worth?
- 1. 1 What are Your APIs Worth? Tej Ravindra, Apigee Kumiko Yamazaki, Mapquest
- 2. ©2015 Apigee. All Rights Reserved. What are your APIs worth? Tej
- 3. Agenda APIs == $$$? Mapquest Case Study Product Demo 3©2015 Apigee. All Rights Reserved.
- 4. Salesforce eBay Pop Quiz : API-driven revenue 4©2015 Apigee. All Rights Reserved. Expedia 50% 60% 90% Source: HBR January 2015
- 5. Popular APIs & categories 5
- 6. API Business Models 6©2015 Apigee. All Rights Reserved. Digital Services Digital Content Revenue Share
- 8. Are there opportunities to grow your partner program(s)? 8©2015 Apigee. All Rights Reserved.
- 9. Do you have a view of your API traffic & apps that use your APIs today? 9©2015 Apigee. All Rights Reserved.
- 10. How are you thinking about the monetary value of your APIs? 10©2015 Apigee. All Rights Reserved.
- 11. What are Your APIs Worth? Mining API Traffic for Fun and Profit Kumiko Yamazaki Tech Manager 11
- 12. Agenda 12 1. Why Monetize Your APIs? 2. Overview of the MapQuest APIs 3. Pre-Self Serve Platform 4. Post-Self Serve Platform 5. MapQuest: A Success Story ©2015 Apigee. All Rights Reserved.
- 13. Why Monetize Your APIs? • APIs are already used internally • Builds relationships and drives new business opportunities • Increases revenue and brand awareness 13©2015 Apigee. All Rights Reserved.
- 14. 20,000 Active Developers 1,000 Paid Customers 14©2015 Apigee. All Rights Reserved.
- 15. Overview of the MapQuest APIs 15
- 16. MapQuest APIs • Map SDKs for web and mobile • Geocoding – retrieve lat/lng based on address – retrieve address based on lat/lng • Directions – choose between shortest, fastest, pedestrian, bicycle, multimodal – turn-by-turn route narrative • Search and Data Manager – spatial queries to find nearest locations • Static Maps • Traffic Incidents and Overlays 16©2015 Apigee. All Rights Reserved.
- 17. • Data Manager API to store locations • Search API to search based on distance • Map SDK to plot all locations • Directions API to find delivery route and estimated time based on live traffic data • Traffic API to overlay incidents 17 • Geocoding API to find location of emergency • Directions API to route to emergency Store Locator Delivery Services Emergency Response ©2015 Apigee. All Rights Reserved.
- 19. Pre-Self Serve Platform Dedicated Account Manager Premium Technical Support 24/7 Emergency Support Custom Service-Level Agreements 19 High Price Point ©2015 Apigee. All Rights Reserved.
- 20. Closing the Gap Between Free and Enterprise 20©2015 Apigee. All Rights Reserved.
- 21. Technological Challenges • Automate EVERYTHING! • Building a Self-Serve platform / Online Storefront • Accepting and Managing Online Payments • Managing a User’s Transaction Quota • Notifying Customers when they reach x% of their Quota • Capturing and Displaying Analytics 21©2015 Apigee. All Rights Reserved.
- 22. Partnering with Apigee • Launch Self-Serve platform / Developer Portal – migration of all existing MapQuest users, apps, and app keys – new provisioning system • Set up API Proxies for all MapQuest APIs – capture analytics • Utilize Apigee’s Monetization platform – custom rate plans – quota management – email notifications 22©2015 Apigee. All Rights Reserved.
- 24. • Access to all MapQuest APIs • 15k monthly transactions • Access to all MapQuest APIs • $99/mo. - $799/mo. • 30k - 500k monthly transactions • Purchase, switch, and cancel plans through the Developer Portal • Support available through the Developer Portal Post-Self Serve Platform 24 • Access to all MapQuest APIs • Custom Service-Level Agreement • Dedicated account manager • Premium technical support • 24/7 emergency support Free Plan Self-Serve Plans Enterprise ©2015 Apigee. All Rights Reserved.
- 25. MapQuest Grows with your Business 25©2015 Apigee. All Rights Reserved.
- 26. MapQuest: A Success Story 26
- 27. • Only Free and Enterprise level plans available • Free, Paid (Self-Serve), and Enterprise level plans available • New Developer Portal • New Provisioning System • New Analytics and Custom Reports • Transaction Quota Management • Automated Email notifications 27 Before Launch After Launch
- 28. FREE PAID 9,693 Free Users 121 Paid Users 28©2015 Apigee. All Rights Reserved.
- 29. Launched on June 22, 2015 Development work didn’t start until February 26, 2015 29©2015 Apigee. All Rights Reserved.
- 30. • Different subscription models • Opt in/out of overage fees • Analytics Dashboard • Data visualization • Overall performance – success vs. errors – latency • Monthly / Daily / Hourly Trends Future of Monetization 30 • Extended Rights Geocoding • Coupon codes and promos • Technical Support Customization Analytics & Insight Add-Ons ©2015 Apigee. All Rights Reserved.
- 31. Questions? 31
Notes de l'éditeur
- These are some examples of famous digital natives tha have succesfully built API programs and also monetize their programs. The evolution has been from free to semi paid services to full on revenu share programs. Apigee is now bringing the mainstream market into this space.
- Any API provider that has valuable data or services that developers or end users would pay to access Eg: Maps, Travel Deals, Streaming video Any API provider that has valuable data or services that developers or end users would pay to access Eg: Pitney Bowes, Dunn&Bradstreet Extending your reach by offering others incentives to sell for you. Anyone who has access to users can be an example of a third party that is interested in becoming a partner.
- Basic overview of why you should monetize your APIs. Transition into how MapQuest is already well established in this space.
- Where did all these developers/customers come from? What APIs does MapQuest even offer?
- Jump into some of the APIs that MapQuest offers. How are customers using these services?
- Describe some common applications built using the MapQuest APIs. MapQuest has been monetizing their APIs for years so what’s new? The story being told today is how MapQuest transformed B2B this past year by launching a self-serve platform / online storefront to further monetize their APIs.
- First describe what life was like prior to launching the Self-Serve platform.
- (Also includes Extended Rights Geocoding and Asset Tracking.) MapQuest’s Monetization strategy used to just tailor to Enterprise customers. Enterprise customers are treated very well, but comes with a higher cost. Enterprise customers are also guaranteed 99.9% uptime of all our APIs. MapQuest realizes this model makes it difficult for smaller businesses to transition into becoming an Enterprise customer. Should MapQuest try to attract smaller businesses?
- Goal was to close the gap between Free and Enterprise. Note: Free users are limited to 15k transactions per month. Lots of number crunching and conducting a cost-benefit analysis before making any decision. Ultimately decided that yes, MapQuest will go after smaller businesses who are not yet ready to make the leap into becoming an Enterprise customer. Decision was made with the understanding that: 1) not enough Account Managers to support all potential customers 2) would likely need to build a self-serve platform to automate all purchases 3) there will be major technological hurdles What exactly were these technological challenges?
- Each bullet items is a major project. It’s not something that gets done overnight.
- To overcome the technological challenges, MapQuest partners with Apigee.
- In mid-June, we were able to launch the self-serve platform.
- In the post-Self Serve world, MapQuest transformed B2B with a whole new tier of affordable plans. What’s different about the Self-Serve plans? Briefly describe the pricing model (nothing more than what’s already available through the website). No dedicated Account Managers. No SLAs. Support questions can be asked through the public forms and/or the Contact Us form. Refer back to the earlier statement of “closing the gap between Free and Enterprise”. The Self-Serve Plans does exactly that. It sits between Free and Enterprise in price, quota, and services. The idea was that “MapQuest grows with your business”.
- MapQuest grows with you. In previous years, the entry path to becoming a MapQuest Enterprise customer was always steep. The APIs were always there and available, but our API Monetization strategy was not living up to its full potential. Realize that the typical path for new/smaller businesses: 1) Start at a lower pricing plan. 2) Move to higher pricing plans as your business grows. 3) Eventually find your way to becoming an Enterprise customer with custom SLAs and premium support.
- Recap a few things, and report on some results/findings that we’ve had since Launch.
- BEFORE: the MapQuest Monetization strategy only included the Free to Enterprise migration path. AFTER: new tier of paid customers (Self-Serve) that previously didn’t exist. Bonus new features due to the partnership with Apigee.
- Efforts resulted in 121 additional paid users in 3.5 months. Paid users whom we’ve never spoken to. Paid users who came to MapQuest on their own. Found there was a large demand for the lower price points. Ok that there is no premium technical support or 24/7 emergency support. Ok that everything is self-serve and done through the Developer Portal.
- Giving an idea of how quickly MapQuest implemented all of this.
- What’s next for MapQuest? More pricing options, different subscription models (find which model is most successful), add-ons. Additional insight into usage numbers.