Product managers have quite the job description and responsibilities; but despite being a lucrative career, there is still some confusion as to what they do and how they do it. For starters, they hold the reins in product creation and development, so they are the brain and limbs behind company ideas. A career that focuses on aligning consumer needs with business philosophy, product management is demanding work but we should acknowledge that many of the most chief executives you would recognize started in this field.
Working as a product manager is a great way to climb the ranks in a business. However, it also provides creative and talented individuals with an opportunity to shape products that impact millions of people.
The tasks of a product manager
(1) Ideation
- Product managers have to think of new ideas by assessing consumer behavior and studying their needs. They have to manage a plethora of new ideas and select a handful to develop; while new designs are essential for releasing a product line, you simply cannot approve all of them.
- I said it before and I will say it again: having ideas for good products is one thing but turning them into a reality is another. It is not very hard to think about products that people would want, but the process involves much more; you need to assess if the idea aligns with the brand’s philosophy and whether there are any practical ways bringing it about.
- Therefore, product managers have to form a detailed plan of a product’s features (a road map) and give tangible justifications for them by backing it with extensive research. Only then can they hand over the project to a team of developers who will design each aspect of it.
(2) Stakeholder management
- As a product manager, you will have to balance the needs of all stakeholders involved in a project. Retaining the balance of everyone’s interests is a difficult task to accomplish but it’s part of the job description and builds decision-making capability.
- Most of the time, the customers’ needs do not add up with the resources you have and other times, they simply do not align with the visions of company executives.
- Product managers see their plan for an idea as the best one around but the problem is about articulating this to the other executives in the room.
(3) Market research and analysis
- A product cannot afford to simply exist; product managers need to have an in-depth understanding of the target consumer and what they are looking for in a product.
- On a similar note, they should be in the know about what their competitors are doing, and other general trends in the market.
(4) Mapping features
- Product managers have to learn about the topic at hand and decide how the product will do what it is supposed to do.
- As a product manager, you cannot help but think about the future, in terms of the product’s development. Creating a roadmap for the idea is crucial so that the business understands how the product will appeal to consumers in the present, as well as the future.
(5) Consistent prototyping
- Do you think Steve Jobs was able to make the perfect iPhone at the first attempt? It is impossible to bring about a high-quality product in a single iteration. Good product management is when you test the product through various trials and build prototypes until it finally achieves your desired goals. At that point, your idea will have come to life and it is ready for the public to see; this is referred to as an MVP, or market-viable product.
- Sometimes your ideas might look amazing on paper but when it comes down to reality, you will find that there is minimal scope. However, product managers can determine a product’s efficacy and durability by prototyping and testing the team’s assumptions. Once a product passes initial trials, the development team can move on to committing more resources to its production.
Skills of a product manager
Product managers possess an extensive range of skills, only some of which they develop on the job. For instance, imagination and determination are not something you typically learn on the job, yet they are a necessity in generating ideas. The reason why they have such an impressive skill set is the significance of their role in bringing a commodity to the consumer; they act as the gateway for consumers to give insight as to what they expect from a business.
- To begin with, product managers should have unmatched leadership skills that help inspire the team and unite them to put in the effort to build a product.
- Creativity and the ability to derive genuine ideas from everyday life is a trademark skill that helps one think outside the box.
- Being influential is part of the equation. How else will you convince:
- company executives that consumers need the product you are building; and,
- consumers that they need the updated and advanced version for an improved experience?
- When you are knowledgeable about the production process and are tech-savvy enough to learn about the technology used to make the product, it results in a seamless designing and prototyping stage.
- Product managers need to have a thinking process that is data-driven to derive trends and insights from multiple sources of information. This is paramount in helping the business make its next move for launching a product, marketing it, and various other aspects of the product life cycle.
- Lastly, they should have insatiable curiosity, which keeps them from settling for less than perfect results. A curiosity to learn about consumers, their daily lives, and seeing the world from their perspective, makes it convenient to map out the customer experience.
As the brains behind some of the most life-changing products people have used, product managers are intuitive, imaginative, and very creative people. At the same time, they have unmatched intellect, exhibit eloquence, and make for competent leaders. It is true that they do not have the simplest of job descriptions, but the experience of bringing happiness and comfort to people by using your skills is well worth the effort.