A Brief Introduction:
The software business is in a beautiful place right now. How we conduct business, manage our homes, and connect has been changed by software, which is now at the core of many sectors.
Product management is a crucial strategic task in today’s most prevalent firms. Product managers work with comprehending market and customer requirements as representatives of the product, company, and end user.
Product managers frequently oversee a cross-functional product team in addition to creating product roadmaps. They regularly engage with other functional groups (such as marketing, sales, support, and UX) to keep product planning, enhancements, and releases on track.
There is a lot of misunderstanding about seniority, structure, and job titles in product management.
You can locate a veritable gold mine of various product management job titles and product people if you visit LinkedIn.
Planning and carrying out a product’s marketing strategy is frequently the responsibility of product managers. They must know their place in sales and marketing to accomplish this effectively.
Product Management is swiftly rising to the top of the list of sought IT positions. There is a great deal of confusion around what a product manager does because it is a relatively “new” position.
It is made worse by the multiple “job titles” for available product managers and by the reality that every company approaches product management differently.
Many product managers have graduate degrees, most of whom have college degrees. An applicant’s chances of landing an entry-level product role can be increased by majoring in business or technology and completing appropriate internships.
Product management is, in general, a strategic position. However, product managers regularly carry out a variety of tactical tasks, such as conducting user interviews, market research, or collaborating with engineers on product requirements.
The engineering team also grooms the product backlog and organizes sprints.
We will go over each level of the product manager hierarchy in this post, along with some helpful content and overviews of each product position.
SaaS Product Management:
Most businesses employ SaaS applications across their entire organization for various tasks. Software as a service, or “on demand,” dates back to the 1970s.
The position of a product manager is exceedingly complex, ambiguous, and rife with potential conflicts. They are in charge of creating fantastic, market-differentiated products that customers adore. However, they are advised to de-scope goods to a “minimally feasible” version to deploy features as quickly as possible.
It became vital to provide software-as-a-service products so that businesses could afford to implement specific systems. With the passing of time and the growth of the internet, access to different software solutions has become more straightforward.
Software as a service is an acronym for SaaS. Because it is cloud-based software, any device with an internet connection can access it. The databases, servers, and code for the software program that users can access through a subscription are all hosted by Saas companies.
The exponential growth of SaaS businesses in recent years is evidence of the corporate world’s dynamic technological landscape in earlier decades.
Product management for SaaS products differs significantly from that of on-premise applications.
It’s simple to overlook that SaaS product management is a young and developing field.
Titles You Should Know:
Customer Success Manager:
They are accountable for accomplishing just what the label implies: monitoring client and consumer happiness. Saas products are more likely than not sophisticated, and CSMs are to be fully knowledgeable about the product.
This information aids in the customer onboarding procedure. Along with using it, they are also accountable for client feedback. The customer success manager (CSM) is a liaison between users’ needs and available options.
Associate Product Manager:
An entry-level role known as an associate product manager (APM) typically reports to a product manager (PM) or group product manager. It is frequently a mentorship position that a product manager secures early in their career. APMs get the chance to study under top product leaders and build a solid base of best practices.
An assistant product manager’s regular duties may include conducting competitive analysis, data analysis, and creating feature requirements as needed.
Junior Product Manager:
Even though they are new to the position, Junior Product Managers don’t need as much practical experience as Associate Product Managers. They work autonomously with a team of product developers, sometimes on a smaller project or area, and are guided and mentored by a more experienced product manager.
A junior product manager can come from any background and often has some professional experience under their belt. The three most frequent backgrounds are engineering, design, and business.
Chief Technical Officer:
The SaaS product must always be up to date for its users to guarantee that any defects or problems noticed by other users are immediately out of the way.
They are responsible for developing the product, adding to it, making it better, and planning its future. These experts serve as go-betweens for customers and other departments.
A product manager often handles the strategy, roadmap, and feature description of a product or product line. On the structure and size of the organization, they might answer to the group product manager, the senior manager, or the vice president of products. They might promote them to positions with three to five years of experience.
Working with cross-functional teams, product marketing managers, and business analysts, is a requirement. They might also be in charge of forecasting and profit-and-loss duties.
PMs assess the market and competitive environment to establish a product vision that offers distinctive value. This position involves both tactical and strategic actions.
Senior Product Manager:
A senior product manager performs the same duties as a product manager but is given an old title in honor of their accomplishments, highlighting their product’s significance, or because they help mentor junior product managers.
This role is a hybrid one in some organizations. The Senior Product Manager has some line-management duties in addition to working directly with a product.
Group Product Manager:
The leadership and management of a product management team in charge of a particular set of goods is the responsibility of the group product manager (GPM). It is the highest non-executive position a product manager can hold and frequently has management responsibilities for other product managers.
They may have five to eight years of experience and often report to a product director or vice president. A GPM’s everyday duties are research, strategy, product development, and people management.
This person is in charge of product promotion. They collaborate with the design, development, and sales teams to determine how to increase conversion rates.
Additionally, marketing managers do A/B tests on their websites to determine what functions effectively and spot any shortcomings.
Director of Product Management:
In an enormous corporation, the director of product management often reports to the VP of the product; in a smaller organization, the CEO or business unit leader. They might promote them to positions with seven to ten years of experience. Given the seniority of the work, management expertise and the capacity for cross-functional leadership collaboration are prerequisites.
The director of product management should express a clear vision for the product’s future. They also prioritize investments that will benefit their corporation most financially.
Chief Product Officer:
The chief product officer (CPO), who typically answers directly to the CEO, is in charge of all internal product initiatives. Depending on the shape of the organization and the requirements, they can enter the position with 10 to 20 years of experience.
The CEO and board members have established the corporate vision and goals, and the CPO will typically concentrate on developing the overall product strategy to carry out these objectives. Sometimes the CPO also serves as the CMO. In this instance, they are responsible for the product’s development and marketing.