The success of the business in the long term largely depends on the product manager. When to Hire a Product Manager Small teams can work without a product manager: the business owner, for example, can set tasks and control their implementation. But as the team grows, a product manager becomes necessary.
After all at some point the volume of work
Grows so much that it is no longer possible to control it with the efforts of the company founder alone. The work of a product manager is usually assessed based on internal and external criteria. Internal criteria include: Interaction within the team. How well are the work processes debugged, does everyone understand what and how to do.
Are there any unmanageable conflicts, etc.
This is rather a subjective indicator, it does not have a quantitative assessment. The speed of the team’s work. To what extent does the actual work new zealand phone number library correspond to the planned work, how often do force majeure situations occur? External factors include numerous product metrics that show the level of its success in the market. These include, for example: Number of purchases and new users for the period. Average revenue per user (ARPU) and product marginality.
Return on income relative to advertising costs (ROI)
It should be above 100%. Customer Retention Rate (CRR): It is more profitable to retain current customers than to attract new ones. Customer Satisfaction Score (NPS). The specific list of KPIs depends on the specifics of the business and is determined individually for each company. Differences from other positions There are several positions in management with similar names that are often confused with product manager.
Let’s look at their main differences
Product owner vs product manager A product owner is a team the forever lasts for member role in the Agile project management methodology . They are responsible for delivering a product that meets the needs of the audience. The product owner not only manages the development process, but also focuses the team on what features users need. A product manager tg data is a specialist with broader competencies, as he is responsible not only for product development, but also for its distribution, promotion, research and customer support. If the product team uses Agile, the roles of product owner and product manager can be combined. In other cases, the product manager is the customer for the product owner. Project manager vs product manager Don’t confuse a product manager with a project manager.