Product Managers will manage products throughout their life cycles; overseeing the analysis, design, testing, and launching of new products. Product Managers will conduct in-depth research as well as develop a good understanding of their competitors, industry trends, and their customer’s needs in order to form a product concept. These individuals will lead the engineering and marketing teams to successfully achieve their goal of delivering an end product.
What does a Product Manager typically do?
Solidifying a Vision for Future Product Launches
Bringing a vision to life is a hard obstacle to overcome. Performing in-depth research and using their strategic knowledge, Product Managers will develop product concepts continuously for their organization. Typically the process will start with researching, planning, testing, and figuring out cost details. A Product manager will need to factor in all these steps in order for the product development process to be effective.
Developing a Successful Product Roadmap
Once a Product Manager has a vision for a future product launch, they get to work by building a product road map; a summary explaining the steps required in order for the product development process to be successful. They work directly with the engineering teams to execute the product roadmap and communicate with team member’s priorities needed to begin the process.
Providing Effective Project Management
A Product Manager will bridge the gaps within the company by providing leadership to the engineering team and marketing team. They will provide support to the engineering team by ensuring the design, testing, and implementation are meeting specific goals. If needed, they will help overcome obstacles such as defects and make room for improvements during prototyping. Also, Product Managers will provide support to the marketing team by ensuring the product launch and development of various collateral meet brand standards.
Product Manager Vs. Digital Product Manager
A Product Manager is similar in title to a Digital Product Manager because both positions oversee a product lifecycle and use project management skills. But there are big differences between the knowledge of launching a digital product vs. a physical product. For example, a Digital Product Manager will be developing a product such as a website, mobile app, or software application with mainly the IT and marketing team. A Product Manager will be partnering with market research, engineering, and supply chain teams to develop a physical product such as a book or clothing.
Important metrics for a Product Manager:
- Establish new product contributions to revenue growth/profitability goals
- Input into the creation of a solid 5-year product line plan for assigned category
- Demonstrated ability to informally lead teams to a successful result
- Demonstrated competence in product strategy as well as product development
