API Drives Innovation in Digital Marketing and Brand Management
FREMONT, CA: In the new era of digital transformation, APIs have enabled businesses to tap into social media and other digital platforms to expand their market reach. Therefore, brands need to consider APIs that can unlock the power of the cloud as a central resource to all digital activity. By understanding how APIs can be used in present and its future possibilities, marketing can play a key role in driving forward commercially viable digital brand. While the customer experience is the end game to innovation, APIs have become a cornerstone for achieving competitive advantage in the digital economy.
For instance, Citi bank developed a strong API driven digital marketing strategy through a series of hackathon to become the world's digital bank. In pursuing its vision, the bank launched CitiMobileChallenge using a prototype API that offered developers opportunities to query and interact with fake bank accounts. Through such innovative effort, Citi unveiled the advantageous offerings that APIs uphold. The hackathon proved to be an excellent marketing opportunity that positioned Citi as a bank which is ready to embrace APIs and collaborate with developers, customers and employees to drive innovation.
The API portal enables developers to access external data sources or unwrap their own data services to partners, suppliers, customers and employees. It provides the architecture that enables customer offerings across offline, digital and new service capabilities like the Internet of Things (IOT). Most digital businesses like Google, Facebook and Twitter have APIs that developers can use to tap into their platforms.
On a marketing level, APIs have the potential to power all digital marketing channels by managing the data used in apps and allowing developers and partners to use the data a company is prepared to share. The systematic use of API analytics provides a real-time view of digital businesses along with insight into what is happening and why. Additionally, APIs helps to deliver increased revenue, brand awareness and greater reach with customers and partners. So, Chief Marketing Officers (CMOs) need to work jointly with Chief Information Officers (CIOs) to Support APIs as a driving force of digital marketing and brand management.