To be successful as a product manager, you must be able to guide engineers, delight customers, and satisfy stakeholders. These three areas are interconnected and rely on each other for a product’s success.
Product managers are in charge of leading the product development process. They should have a solid understanding of the product’s technical aspects and be able to effectively communicate with the engineering team to guide them through the product’s development and implementation. This includes being able to understand the technical constraints and trade-offs involved in various design decisions, as well as making informed decisions about the product’s direction. A product manager at a company that develops mobile apps, for example, should have a strong understanding of the various mobile platforms and be able to collaborate closely with the engineering team to ensure that the app is optimised for each platform.
Customer delight: A product manager should have a thorough understanding of the needs and desires of the customers and be able to apply that knowledge to create a product that truly delights them. This includes conducting customer research, gathering feedback, and continuously iterating on the product to ensure it meets and exceeds the customers’ expectations. For example, a product manager at a consumer electronics company might conduct surveys and focus groups to better understand their customers’ needs, and then use that information to create a new product with features and designs that customers specifically requested.
Satisfying stakeholders: A product manager must also be able to balance the needs of customers with the needs of stakeholders, which include the company’s leadership, sales and marketing teams, and other internal stakeholders. This includes being able to effectively communicate the product’s value proposition and aligning the product strategy with the company’s overall goals and objectives.
When developing a new product, a product manager at a software company, for example, may have to consider the needs of the sales team. The sales team may prefer a product that can be easily customised to meet the needs of different customers, whereas the product manager may prioritise the development of a product that is simple to use and has a simple user interface. In this case, the product manager must strike a balance that pleases both the sales team and the end-users, such as developing a product with a high level of customization but also a user-friendly interface.
A review of the literature on product management confirms that the ability to balance the needs of various stakeholders is an important skill for a product manager to have. Product managers can develop products that not only meet the needs of customers, but also align with the company’s overall goals and objectives by considering the needs of both customers and stakeholders. This ultimately results in a product that is successful for both the company and the customers, resulting in a long-term business.
