Join Brad Batesole for an in-depth discussion in this video API integrations, part of Marketing Foundations: Growth Hacking.
- An often overlooked but powerful growth strategy is to open up your platform for use by others. And Application Programming Interface or API let's others access the information that your platform provides. It's essentially a way for others to leverage your offering. An API might allow you to recruit a number of partners who invest in supporting your product. If you have a technology platform that has value and it's unique enough then you can generate awareness through an API integration. One example of a brand using an API is Evernote which is a software designed for note taking.
Chris Traganos their director of developer relations shared that they are seeing a trend where a person who uses another app with Evernote built in is 50 percent more likely to move on to their platform. They've essentially created the ability for complimentary applications to add in Evernote functionality using their API. Uber, the peer to peer taxi service, opened its API and saw tremendous success. They've received integrations with Open Table, Google, and even Starbucks. These companies see shared value. Open Table might believe that they can increase conversions if they suggest in Uber when a user makes a reservation.
There might even be kickbacks provided by Uber to Open Table for each successful ride. Those are some pretty big examples but this works on a smaller scale too. By opening up your platform for others to build on you're attracting a lot of attention to your business. Granted this only works if you've got a technology start up but you can apply these same learnings in other avenues. Let's say you can't provide an API, is there something else you can do along those same lines? Think about some unlikely offerings that might add value to your target market.
What can you share or offer that's different from your core product? An API is going to be an endeavor to implement. It'll require additional effort from your technical team but there's a lot of value to be had if it's executed properly and in the right space.
The course concludes with growth-hacking case studies, highlighting the growth-hacking techniques that helped propel such companies as Airbnb, Uber, and Tinder to explosive growth.
- What is growth hacking?
- Understanding the funnel
- Setting up tracking and analytics
- Leveraging customers and existing users
- Testing ideas
- Generating an audience
- Creating an incentive strategy
- Real-world examples of successful growth hacking