When evaluating a product roadmap, the product manager must take into account certain factors such as the company size, core competencies, and emotional intelligence. A great product manager must maintain the balance of the company’s various departments and keep the peace between the production, engineering and design teams.
Products on the verge of revolutionizing the industry or having an exponential rate of adoption in the market are what a great product manager strives for. Most of their skills are obtained through experience rather than from a classroom. Some of their core specialization requirements are listed below.
- Performing market assessments.
- Conducting customer interviews.
- Product roadmap planning.
- Feature prioritization.
- Pricing and revenue modeling.
- Tracking success metrics.
The main reason why product managers make a large impact on companies is that they are required to make forward-looking decisions on a regular basis. This is extremely beneficial if the product manager specializes in that area of expertise. However, the questions that arise must-have solutions devised by the product manager such as what are the risks involved, what are the possible effects of a delay, the last responsible moment to make a decision, whether the plan is open to flexibility and many more.
What is Relationship Management?
Apart from having effective communication skills, a product manager must also know how to efficiently manage and coordinate between the internal and external departments as well as the shareholders. They must maintain a good trustworthy bond and authentic connection with everyone involved in bringing the product to market.
Relationship management is crucial when it comes down to working with others towards a common goal, resolving conflicts, negotiating with shareholders, planning workflow for resource-constrained engineering teams, balancing customers’ needs and more.
The product manager will also directly communicate with existing customers to provide their feedback on what could be improved. Sometimes, customers can beta test upcoming features in order to give an insight into how the customer reacts to the product.
What are the Core Objectives of a Product Manager?
A product manager needs to work seamlessly with many other departments such as sales and marketing, engineering and support teams. A product manager’s core objectives areas listed below.
- Product managers need to work closely with the sales director in order to develop the best product marketing strategies.
- Product managers need to estimate the scope of future product types, product lines, etc. by conceptualizing new product ideas based on customer needs.
- Product managers need to maintain operational requirements by assigning and scheduling employees, checking on tasks and evaluating work results.
- Product managers need to assess market data for the product, meet product demand, research customer input data and evaluate sales call results.
- Product managers need to determine the needs of the customers through suggestions, feedback, etc.
- Product managers need to compare the product with the competition and strategically assess the market conditions.
- Product managers have to use the cost of sales and production, market research data, etc. to determine the right pricing for the product.
- Product managers need to facilitate inventory turnover, they have to adjust the production schedules accordingly as well as the inventory levels.
- Product managers have to efficiently optimize the product line communications by clearly defining the main functions and objectives of product marketing communication.
- Product managers have to develop precise marketing strategies, this is possible only when working closely with the advertising, sales and production departments.
- Product managers have to update critical information to the product management team. They need to prepare sales forecasts and product analyst reports for the short and long term.
- Product managers need to constantly study, update and maintain technical knowledge of the product. This can be done through attending educational workshops, reviewing professional publications and establishing personal networks.
- Product managers need to prepare the detailed Return on Investment (ROI) analyses as well as recruit, orient, train and teach new employees.
What does Information need to be included in a Product Manager’s Resume?
A standard product manager resume should contain the manager’s personal information, academic qualifications, relevant skillset, and prior work experience. Product managers are generally business-savvy people who are passionate about what they do and are value-driven individuals.
They need to highlight their good communication skills as they will need to persuade shareholders, designers, business executives, production managers, etc. and get them all on the same page. Having good analytical abilities can help evolve product strategy methods as managing multiple product stages within schedules and budget restrictions can be overwhelming.
When planning your product manager’s resume, mention all the skills needed for the product which should include everything from concept to delivery. Some of these are listed below.
- Team Leadership.
- Product Lifecycle Management.
- Product Roadmaps.
- Technical Product Research and Development.
- Product Requirements Gathering and Analysis
- Troubleshooting & Debugging.
- Quality Testing.
- Competitor Research and Market Conditions.
- Financial Modeling and Forecasting.
- Test-Driven Development.
- Business to Business (B2B) and Business to Consumer (B2C).
- Market Research and Trend Analysis.
- Product Marketing and Product Development.
- Staff Management and Customer Communications.
- Strategic Planning and Project Management.
- Brand Building and Operational Sequence Enhancement.
When it comes to building a good product manager resume, keep in mind that the role being applied for is an amazing one but it is a highly challenging field and is not specifically limited to one particular kind of qualification. Product managers come from different backgrounds and various skills, it is vital that you accept the role you are most suited for.