How to Measure Self-Improvement As Product Manager? - Design Your Thinking

How to Measure Self-Improvement As Product Manager?

product manager measurementProduct Management is a facilitatory function, and a Product Manager is a facilitator in the process of making products. The only two functions that really matter to product / engineering companies is engineering and sales. Product Management is the conduit that connects the produced product to the sellers of the product so that the business can become viable.

Two-way Conduit

Now in the context of the above question, what really matters as far as product management goes, is to understand how good product managers are making the two-way conduit function. In simple terms, the two broad measurements for a Product Manager are:

  1. How is he / she making sure the engineered goods / products are sellable?
  2. How good is he / she at ensuring the company is indeed investing its engineering dollars in building the product (and its features) that helps the company achieve its goals and targets?
‘One’ Story

Lets look at them in a little detail. Good products are ones that create value for someone such that they believe its worth paying for. It’s one thing to have a good product, and a whole different thing to be able to articulate its value to customers. Only when the two are done properly, do we have a successful product. A Product Manager should make sure that the salesmen and the engineers are are telling ONE story. To be able to do this, a Product Manager must ensure a few things are done right. They are:

  1. Product documentation tell the story clearly and is available in a well-lit place
  2. Product Marketing is telling the same story, and is producing the right material for salesmen to use
  3. Conducts trainings regularly for salesmen, marketers and engineers alike
  4. Visits customers and is engaging enough using more than one channel
  5. Understands and reassesses the value delivered through the product such that the monetization works flawlessly through changing technology and economic conditions
  6. Aligned with the executive management and the board’s vision and is actively realigning the product strategy with the company’s vision
Measurements for a Product Manager

The measurements can be derived from the above. Some examples of these metrics would be:

  • Number of times the product was positioned wrongly and the company lost a customer
  • Increase in conversion rate
  • Increase in customer feedback touch points
  • Increased creation and validation of product hypotheses

These are just some ways. You can use many more such metrics, but what’s more important is to make them tangible by setting yourself goals.