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PRODUCT MANAGEMENT SECRETS 

HOW TO BECOME A PRODUCT MANAGEMENT GURU ?

A Product Manager is a key role in a company. Some industry leaders also refer to them as the CEO of the product. 

 

They are accountable for building the right product and delivering the product right. For both effectiveness and efficiency.

 

In the process they are also responsible for the vision, strategy, roadmap, and feature definition of the product or portfolio. 

 

This session will review multiple aspects of Product Management including roles, responsibilities, and keys to success. 


HOW TO TRANSITION INTO PRODUCT MANAGEMENT ?

Day in the life of a Product Manager entails many things depending on the growth of organization. 

 

You might be managing existing product or portfolio, You might be working to improve revenue via an optimal pricing strategy. 

 

You might be tasked to Provide realistic customer acquisition forecast 

 

You might be working with design and business teams to create presentations & data sheets.


WHY PRODUCT MANAGER IS THE MASTER FACILITATOR?

As a master facilitator, product manager brings together ideas from various stakeholders and disciplines. 

 

possess the capability to Bring together customers, partners to pursue a shared objective

 

Works backwards from impact to the product epics, stories and features review technical and marketing content for relevance to the audience.

 

Acquires competitive intelligence leveraging all types of research

 

Gathers, assembles and presents information to support business case 


DAY IN THE LIFE OF A PRODUCT MANAGER ?

As a general manager of the product, he is expected to empower team members by 

 

Attends learning and networking events with the single purpose to improve customers lives by grasping their reality, constraints and experiences 

 

Offering continuous customer orientation trainings for design, technology and business functions to propagate and assimilate customer insights.

 

Brings together key members of the team, facilitates in depth conversations, identifies decision alternatives that have most positive impact on stakeholders.

 

Works with marketing and sales teams to improve win ratios by optimizing qualification and conversion metrics based on evolving grasp of customer persona.

 

Keeps a tab on product operational metrics includings financial results on a regular basis to quantify the output and outcomes.


WHAT IS A PRODUCT ?

Very few things unite us as global citizens. Unhappiness tops the list. We humans believe that the route to contentment, comfort, satiety, warmth, peace, and happiness passes through right choices, decisions, and experiences.

 

According to psychologists, Seeking new, making progress, getting recognized are self-therapies we seek to overcome inabilities and discontentment.

 

Are you wondering “Why are we talking psychology ?” 

 

A product is a tool to connect human beings and facilitate progress in their lives. An approach to broad base capability and democratize outcomes. 

 

It is an intermediary between the people who create it and the people who consume it. So, as a product leader, you need to be concerned about human emotions, insecurities as much if not more about the shipping of features.

WHY DO WE BUILD PRODUCT ?

A product is a mechanism to transfer visionary efficiencies to other people and help them overcome constraints impeding progress.

 

A product is a bundle of distinct experiences a customer would like to ideally have in a specific context as they go about with their lives.

 

A product represents different things to different groups of individuals. As a user, you look at it as a bundle of change, as a buyer you look at it as a bundle of outcomes, as a visionary you look at it as a bundle of benefits, as a technologist you look at it as innovative engineering, as a business investor, you look at it as a bundle of profits so on and so forth.

 

While all these narratives are legit, the question as to which narrative should lead everything else is a valid conflict within product teams.

 

“we start with a customer need and work backward” – said Jeff Bezos of Amazon.

 

customer’s (decider and user) take precedence over everything else. Ultra successful companies like Amazon call it as customer obsession,


WHO DO WE BUILD PRODUCT?

World is filled with only 2 kinds of people. 

 

Proactives and Reactives. Reactives are those who care because they need to. 

 

Proactives are those who care because they want to. As a customer, you are defined by the need. 

 

It’s ok to be reactive.

 

As a creator, you are defined by the want. Be Proactive. Customer Obsession is the Science and Art of being proactive with your customer. Anticipating their needs and innovating on their behalf. 

 

“Our job is to figure out what customers are going to want before they do.” – Steve Jobs.

 

It’s about listening to their verbal and nonverbal feedback. grasping their unpredictable behavior, identifying outlier patterns and eradicating friction in their activities.

 

All companies claim to be customer obsessed. Reality is different. Aspiration is good. Sustained customer centric Action is the only way to a higher share of revenues.


HOW TO ACHIEVE PRODUCT SUCCESS WHIT CUSTOMER OBSESSION?

There are many ways for an organization to flourish.

 

You can be a very successful company by being product obsessed, competitor obsessed, technology-obsessed, business model obsessed and market-obsessed.

 

Any of the above methods can help you achieve your business goals. Customer Obsession is a choice that helps you reach market leadership in a healthier way.

 

It defines the attitude, structure, and processes to invent and pioneer on behalf of the customer.

 

Listening, Experimenting, Inventing and Delighting defines the mindset.Leveraging user research and making user feedback available to everyone defines structure

 

Being Prepared to adapt against constantly changing needs, wants and expectations define the process.Culture, Insights, and Foresight are the cornerstones of customer obsession.

 

“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” – Steve Jobs,


WHAT EMPOWERS PRODUCT MANAGER TO BE THE VOICE OF CUSTOMER?

A Product Manager holds forte as the voice of the customer. Unbiased advocate of the customer needs based on different types of User Research.

 

Leverages insights from Qualitative, Quantitative and Behavioral methods to grasp customer context. 

 

Combines inquiry with observation to unearth the underlying pain. Identifies and Validates the priority of needs, Categorizes them along unworkable, unavoidable, urgent and underserved buckets so as to figure out the desirability. 

 

Funnel that knowledge to remove status quo and establish a new normal by building a new product or improving an existing product.


WHAT ARE THE WAYS TO GAIN A NUANCED UNDERSTANDING OF CUSTOMERS?

Influencer, Decider, Buyers and Users are types of customers. Typical questions of product managers are 

 

How long and often should i commit to grasping customer needs?

What ratio of effort should go into researching the different types? 

What point in the development process should i focus on knowing users?

What are our core customer segments? 

What pain points each segment have?

What features would alleviate pain points?

Is the feature desirable to the customer team?

What changes do we require in order to accommodate new need groups? 

 

Getting to know your users is a never ending task. It is the only activity that lasts the whole cycle of discovery, definition, development and Delivery. Structuring a mechanism to collect, organize and act on feedback. Ability to distinguish signal from noise is a key skill for Product Managers.


HOW DOES A PRODUCT MANAGER CONNECT THE ORGANIZATION ?

A Product Manager is the hub of a wheel that holds the internal organization together

 

A People Person. He is obsessed with assembling best teams, evangelizing their needs and empowering them with resources to excel in their spheres.

 

Every organization is structured differently. Functional, program oriented, and Skill driven teams are typical examples. Irrespective of how they are organized, each individual operates with personal and professional goals tied to their context.

 

Brimming with ideas, suggestions, requests and complaints, they seek to and need to have a say in how products are built.

 

A product manager gets to interact with legal, sales, marketing, industry analysts, business development, technology, CXO’s, data analysts, user researchers, user experience designers, security experts, customer success, customer support and finance on various disciplines that will impact the product launch.

 

A product manager compiles, consolidates and cross pollinates ideas from all disciplines  of the organization.


Digital Product leadership

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