Have you read the latest product management stats?
Product managers devote 18% of their time to strategy, followed by 15% on technical collaboration.
However, only 8% of their time is spent on metrics. Plus, more than half of their time is spent putting out fires. Product managers are devoting too much time to roadblocks instead of innovation.
Do these scenarios feel familiar?
These stats can change. You must adapt quickly to a data-driven world and reduce obstacles.
Here are three ways to catch up.
1. Adopt an Agile Work Method
Agile is revolutionizing product management, but what is it?
Agile management treats products like a lifecycle. Work is performed incrementally and rigorously tested. Feedback, collaboration, and self-organization are essential for effective agile management.
Agile is widely used in the software industry. It’s so popular; product managers are earning professional Agile certifications. This article breaks down Agile management into simple terms.
2. Supplement Your Education
Let’s go back to the last point about certifications.
College degrees are highly preferred among hiring managers. Additional certifications and experience are even better.
Agile certifications are one option. You could work as a Scrum Master for a major product development project. This role is named for the Agile framework, Scrum.
Are you fresh out of college? You could pursue a post-graduate certificate in product management. Graduates (and undergraduates) can also work as interns for product development agencies.
CAD is another valuable skill.
CAD means “computer-aided design.” CAD certification proves CNC machine experience. CNC machines perform several building processes, an asset for product design, prototyping, and production.
You can earn more industry-niche certifications too. For example, a kids’ product designer would benefit from an educational technology certification.
Are you a self-starter? Independent projects boost resumes. You could upload data projects to Github or product prototypes to Behance.
Professional certification in data analytics is another route.
Data drives product development. For example, Netflix uses viewer data to create original programming. It’s the ultimate recipe for customer satisfaction!
3. Product Managers Are Data Analysts
You don’t have to be a data analyst to think like one.
Every person gathers and analyzes data without realizing it. Like you, they take that data and use it to make decisions. For example. using grocery store receipts to create a shopping budget is an example of data analytics.
Remember the Netflix example from earlier? Product managers can learn a lot from the streaming company.
Netflix analyzes viewer data and customer feedback to craft content that satisfies every demand. Are you applying this level of analysis to your product development?
This process starts by understanding your audience. Create detailed customer profiles that accurately represent your ideal buyer. Conduct more research to discover their favorite social networks, values, aspirations, and challenges.
Design a Product With Impact
Don’t let your product shrink into the background.
Create memorable products with a new approach to product management. Consider the benefits of agile development, certifications, and data analytics.
Effective product managers stay informed. Follow the blog to get the latest developments in your favorite industries.