Breakthrough In Solving The Problem Of How To Evaluate A Product Manager

Oh do I have a tasty dilemma for you this time around! I’ve been working with one of my clients who is setting up a brand new product management department. He’s faced with a challenge that you’d think would be more common than it appears to be: just how should you evaluate the job that a product manager is doing?Product Managers Are Not Project ManagersThe newly minted manager of product managers was struggling. It was the beginning of the year and one of the things that he had to do on his list of tasks was to set up annual goals for his team.This manager was coming from a project management background. In his first pass at creating goals for his team this training really came across: all of the goals had to do with meeting dates. Clearly there’s more to being a product manager than this.He was facing a revolt from his p-management team when I was brought in to see if I could broker a solution to this problem. The manager had a valid need to be able to manage his p-managers, but they also had a reasonable expectation that they would be measured based on what a product manager does, not on what a project manager does.Say Hello To The Puppet MasterI stated out by having a talk with the manager who was trying to come up with the goals. It turned out that he really didn’t have a clear understanding of what product managers do. In a nutshell, he viewed p-managers as sort of a “super project manager”. The only problem with this is that the company had project managers who worked on every product’s team. Clearly there had to be something different in what these two groups of employees were doing.I then took some time and met with the p-managers themselves. It turns out that they were all busy doing exactly what you would expect a product manager to be doing: studying markets, guiding product developers, and putting out fires.After having collected all of the available information, I brought the manager and his team back together. I started this meeting out by taking the time to explain to the manager the role that product managers played in his company.Right or wrong, I used the analogy of a puppet master (you know, those old-time puppeteers who controlled the puppets by pulling on strings connected to their hands and feet). I pointed out to him that the role of the p-manager was not so much to do things, but rather to make sure that things got done. P-managers are like information hubs. They ensure that the right information gets to the right person at the right time so that they can accomplish a task.The difference between a p-manager and a project manager can be murky at times. However, I pointed out that if the p-manager told the project manager to build a 3-wheeled car, the project manager would make sure that the car got built on time and on budget. However, when the car flopped in the marketplace, it would be the p-manager’s fault because he had said that a 3-wheeled car was what the world needed.A New Way To Evaluate Product ManagersWhat was needed here was a new way to evaluate product managers. Others have discussed this topic and they’ve focused on getting the product’s requirements correct. I think that this is important; however, the p-manager’s job does not end there.What I told the manager and his team was that a much better way to evaluate product managers is to focus on the four areas that a product manager actually controls. These all have to do with the up-front work of determining what product to create, creating the product, and then ensuring that the product is a success once it’s been made.The four areas include: knowledge of the market, providing a well understood business strategy, empowering the company with product tactics, and directing the creation of product related content. Each one of these areas has plenty of room for individual performance metrics to be created that can be used to evaluate how well a p-manager is doing his / her job.What All Of This Means For YouP-managers, just like every other employee in a company, need to be evaluated in order to determine if they are doing a good job. The problem is that nobody really seems to have come up with a good way of doing this.P-managers are not project managers. This means that the traditional management metrics of delivering a product on a given date and keeping it on budget, don’t really seem to apply to p-managers.What a p-manager does is pretty much all “behind the scenes”. We deal in relationships as we get people to do different things at different times. We are an information hub that provides the right information to the right people at the right time.A much better way to evaluate product managers is to focus on the four areas that a p-manager actually controls: knowledge of the market, providing a well understood business strategy, empowering the company with product tactics, and directing the creation of product related content.The performance of a p-manager can be measured. However, you need to be very careful to do it in terms of what a product manager does, not what a project manager does. Once you establish the proper metrics to measure your p-manager by, you’ll be able to determine just how successful your products are going to be.

Digital Marketing – What Is in Store for 2017 and Beyond

The arena of Digital marketing is extremely competitive and highly volatile… During the start of every year the strategists in the field of digital marketing sit at their desk to design and discuss upcoming trends, challenges and opportunities to bring out strategies to take the marketing techniques to the next level!The traditional methods that were used few years back are no more a fashion. In the ever changing market these techniques, either became outdated and vanished or evolved itself as new strategy. The techniques that were used last year may not be finding the same importance, relevance or order of preference!After studying and analyzing the emerging trends, the strategists have lined up the most effective marketing techniques that is going to shake the field this year and beyond!Digital Marketing Strategy is one word that is echoing everywhere!Mobile phone centric We all know that Google has phased out all websites that are not mobile phone friendly. Not only Google, remaining search engines and other digital platforms will also start doing this! The websites and applications that are mobile phone optimized only will remain!Apart from mobile phones, other handheld devices, wearable technologies like smart watches and other smart devices will find top a place in digital marketing techniques.Videos to rule!Videos are already a rage on digital platforms. In the coming years, video based advertisements, and other marketing techniques are going to dominate the scene and heavy investments will be pumped into!Like YouTube and Facebook, many other social media websites will be fitting that plug-ins for those video streaming.Content mattersContent, as it is called the ‘King’ of digital marketing, is going to reach another level of importance. Well devised, high quality content will always command a respect in the market. Creativity, skill and knowledge on the written subject will make a huge difference! Interactive content has already found its way as the best digital marketing strategy…Just not writing, in-depth discussion and analysis of things in the content is what that is expected from the marketing strategists!Mobile Apps Every smart phone user will have at least 5 or 6 apps in their handset. Apps are now designed to cover every aspect of the day-to-day life activities… From necessities to fun area, from people of all walks of life to profession, Apps are there for everything! Slowly, websites will be replaced by these apps!!Social Media Social media sites are already enjoying an enviable position in the marketing arena. It will remain as one of the most favourite hangout places of the younger generation… Twitter like sites are expected to lose its place in digital marketing, and Facebook and other video supporting sites will come out with various innovations, creating a revolution in digital marketing strategy!Conversion Rate OptimizationCRO or Conversion Rate Optimization, visitors becoming consumer, is going to be used as one of the major techniques of future digital marketing strategies. This system, at present, is still at the beginner level, but is expected to find its right place soon!Search algorithm will changeGoogle is the search engine that is widely utilized by the internet users. People are already searching with other engines, which uses a different way of search optimization. Google itself is slowly changing some basics, and in coming years, a new wave of search algorithms will make a stride in its own style!Chatbots and AIChatbots and other Artificial Intelligence based technology and techniques are also expected to rule the roost, and future will be more interactive based techniques like these. Interaction is the key. It always pays good results in marketing campaigns. These techniques are sure to evolve to another level paving way for a dominant role in digital marketing!SMS SMS and other text based tools and techniques will continue their influence in digital marketing for next few years. Interactive text messaging and smart phone supported other text messaging services will also make their mark in the marketing arena!The ConsumerThe ever changing psyche of the consumer is the one of the major key elements that is going to decide, and design any future digital marketing strategy! After all, consumers are the final receivers of any service, for that matter!

Why Choose Digital Marketing Over Traditional Marketing

The internet has become a necessity for everyone. Without it, people cannot imagine their lives. From social media to cloud solutions, the internet has completely revolutionized our lives. In the field of marketing, it has given us digital marketing.As the internet is one of the most popular technologies, it is easy to say that digital marketing is preferable over traditional. Still, one could argue that traditional marketing grabs hold of the public that does not use the internet as often as the others. With such arguments, it would be better if you read the following points to find out as to why digital marketing is superior to traditional marketing.It is affordableDigital marketing does not cost as much as any form of traditional marketing. Whether you consider newspaper ads or television ads, they all cost much higher when you compare them to the paid ads online. This does not mean digital marketing is less effective. In fact, it offers a higher conversion rate than traditional marketing in a large number of cases.The reason behind such affordability and effectiveness of online marketing is the fact that everyone is now using the internet. If you do not want to spend on paid marketing, you can opt for other methods which do not cost any money. With SEO, you will not be spending any money on advertising your business. Still, the best way to digital market your brand is through a combination of non-paid and paid marketing methods.Overall, digital marketing costs much less when compared to traditional marketing. You will be able to save much money by opting for this choice.It has a broader reachAs stated before, almost everyone uses the internet now. Either on a mobile or on a laptop, a person will be connected to the internet. Digital marketing Mumbai allows you to target this audience through numerous different methods. Each method is unique as well.It is easier to manageYou will not have to put much effort into managing your online marketing campaigns. The SEO of your website will work automatically after a certain time. Your PPC ads will be getting displayed on the search results and you will just have to check the progress. Moreover, you can do all of this within a few clicks from anywhere at any time.On the other hand, conventional marketing demands more supervision. Basically, it employs more people and you do not get to find out whether it yielded as good results or not. It is not as flexible as the digital marketing too.Now that you know the advantages of online marketing, you should start looking for a service provider of the same. By hiring an expert, you will be able to save your money, energy, and resources while availing the maximum benefits of online marketing. If you need any help, you can contact us.

Short, Intermediate, And Longer – Term Impacts On Home Sales, When Rates Rise!

For many reasons, some, economic, while others, related to the pandemic – related, so – called, fatigue, etc, home prices, in most areas, have gone up, at, or, near, record amounts! Because of the prolonged period of artificially – created, low – interest rates, mortgage rates, have been at historic lows! Since, for most home buyers, using financing is essential to affording a purchase, when a low rate, causes cheap money, and, thus, the ability to afford more home – for – the – buck, prices usually rise! It permits qualified buyers to qualify for more money/ loan, because the ratio of monthly mortgage, to overall income, is artificially – reduced! How long will this trend continue, will it become the new – normal, will previous trends/ cycles return, and how will pricing be affected, in the immediate, intermediate, and longer – run, are, all factors, to consider! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, some possibilities, to consider, and understand.

1. Short – term: Since, the Federal Reserve Bank, announced, they planned to raise rates, three times in 2022 (of course, this was before the potential implications, and ramifications, from the Omicron variant), many feel pressure, to act quickly, to take advantage of today’s low rates, before they go up! Three increases will probably translate to, at least, a 0.75% higher rate, which will translate, for most mortgages, to hundreds of extra dollars, per month. Some things to consider, and pay attention to, is, this rate of increased home prices, will, probably, not continue, especially, at such a large degree! How longer one, expects to keep a specific house, is, one issue, to consider, thoroughly, and wisely, before proceeding!

2. Intermediate – term: Although, many believe, to – know, the precise timing of any projected rate – hike, is uncertain! The Fed has changed, and/ or, altered its strategies and approaches, in the past, What the intermediate – term, may bring, including potential inflationary pressures, how long the economic conditions, and unknown factors, related to the pandemic, etc, will determine, largely, what this phase, may bring! In addition, the attitude, and perceptions of buyers, and their confidence, etc, largely impact this real estate market!

3. Longer – term: In the longer – run, will things, restore, to what we have seen, so often, in the past, which is, alternating cycles, between, Sellers, Buyers, and Neutral Markets? The possibilities, include: a continued large escalation; a more – gradual, but persistent – one; some leveling; and/ or, will we see, at least, in certain areas, some sort of falling prices, for a period.

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