An age-old truth that has remained constant across industries – “it is expensive to get a new customer for the business when compared to retaining an existing customer”. With the internet becoming center-stage for all businesses ensuring existing customer satisfaction is crucial. All it would take is an enticing invite from your competitors on one of the platforms across the web to sway your customer away from you. To prevent this, utilizing API integrations will improve the user experience which in turn increases the retention rate of your app users. Let’s discuss this in detail.
Meaning of API
Application Programming Interface works by linking software solutions. Integration of API creates a powerful means for businesses to provide multi-platform support to their customers. It helps with in-app chat.
Meaning of API integrations
Integration of API in a scalable chat app facilitates two software solutions to work together. Features and working of one platform can be accessed through another in an in-app messaging API server. The integration is beneficial for businesses and users. Businesses’ time, money and effort is saved to build white-label chat apps. For users, it saves the time and effort of entering and accessing the same information on multiple platforms.
Development vs Purchase of API
Here’s how to build a chat app to increase user engagement and generate high revenue – integrate API in a scalable chat app for Android.
If your company is serving a niche market, requires a high level of security or is a large enterprise, building an API for your self-managed chat app is beneficial. It could even be a necessity as the company would have customized requirements in the self-managed chat solution.
When you develop a chat messaging API in-house, involves a heavy investment of money and skilled manpower. In addition, time will be required to develop the API for the in-app messaging solution. Time taken is based on the requirement and its complexity. These factors are eliminated when a business utilizes a ready API for its self-hosted chat app.
If a business does not fall under any of the three categories mentioned above, it could purchase a pre-built API. This will save the investment of time, money and effort of building and maintaining an API for white label chat app since purchase involves a one-time or recurring fee.
Advantages of using a pre-built API
When your business provides a chat application for Android for your customers, using a pre-built API will get the work going instantly. You don’t have to wait until the API is built to deploy it into your systems. Time is the most important asset and capitalizing on it fetches good results for your chat platform.
In the app, chat API chat can instantly improve your app’s user experience. It creates a positive image of your brand in the eyes of your customers, reduces the effort of your users, and increase engagement and repeat purchase.
User data is transferred between platforms in real-time without any error, security issues and downtime while the user is on your application. This creates a positive user experience.
Cost-effective scalability and storage of data
The basic tools required in the chat app white label do not have to be built as the integration of API in your application provides automatic access to the tools from another app. This saves time, money and effort when you develop a chat app.
As the user data is shared between the two online platforms, a lesser amount of storage space is required by businesses. It also reduces the collection and processing of fresh data which increases the efficiency of the application.
The factors mentioned above help in scaling the business quickly and handling the business as it scales. It also reduces the amount of money the business spends on building, maintenance and storage of data. This includes the server space, manpower and tools required to maintain the application.
Increased revenue generation due to an increase in app usage
If you are wondering how to build a chat application that increases the revenue of your business, it is by integrating API. User interaction with the brand and business sets the tone of the brand. It is a major deciding factor for customers in making purchase decisions. From the initial user interaction in the self-managed chat app to continued interaction, the ease with which users can interact with the brand determines the sales the business will make. Therefore, API integration increases app usage which in turn increases the revenue a business generates month-on-month.
5 Best API Integrations in 2023
As several APIs are available in the market, it could be tough to make the right choice for your business. We’ve picked the top 5 APIs and listed them below for your reference.
HubSpot
HubSpot is an all-inclusive solution for a business’s needs for inbound marketing, sales and customer support. This helps in increasing functionality and retention.
Elastic
Elastic API is beneficial for searching and analyzing data. It also secures the data using its threat detection and response.
Mailchimp
Mailchimp, an email marketing tool also facilitates marketing automation and e-commerce. As a business, you can automate and personalize your user experience using Mailchimp API.
Mixpanel
Data analytics is a crucial component of marketing. Mixpanel helps in tracking the interaction of the app with its users thereby providing detailed insights into user behaviour. This helps in formulating strategies to increase user engagement.
Sendbird
When you build a chat app, using Sendbird helps in increasing engagement and improving the conversion rate. Its chat SDK, chat API and React UI components speed up the design and development of an app.
Wrapping up
Now that you have detailed insights on how API integration facilitates an increase in user engagement, thereby retaining existing customers, and increasing sales and revenue, you can take the next step in using an API. The top 5 APIs discussed above are beneficial for businesses of any size and industry. Integrate the right API in your in-app chat API chat software and take your business to heights.
