Is it time to hire a Product Manager?

Product Managers (PM) are in demand and, suddenly, everyone wants to hire one. Even established companies are creating their first PM positions and/or reorganizing departments to include Product positions.

But, if you look a little closer at the job descriptions, what’s expected of a PM varies vastly between companies. There’s a lack of standardization across industries and companies and even confusion about what a Product Manager is supposed to do.

Understanding the Role of a Product Manager

A product manager is responsible for a product or product line's strategy, roadmap, and feature definition. They work at the intersection of business, technology, and user experience, ensuring that the product meets the market's needs and delivers value to both the company and its customers.

Ok, you might be saying, that’s great and all but what does a Product Manager actually do? Here is a non-comprehensive list of tasks a PM can do:

Be the voice of the user

The PM knows how the user will engage with the product and anticipates all possible use cases of the product so that it functions for the end user. 

Research user needs

To determine the user's needs, the PM conducts user research. They can draft surveys, conduct usability tests, interview users, and look at analytics. 

Define what needs to be built

Once the PM knows what the user needs, they communicate those needs to the business, the engineers, and other cross-functional teams. A skilled PM can write detailed and comprehensive business cases to prove the value of certain products.They also define and deliver requirements to engineering to minimize surprises during the build and testing process. 

Plan Work

The product manager is in charge of the roadmap and prioritizes features and tasks. They analyze what features will have the most impact on the user and/or the company compared to the relative lift to build. 

Test the product

The product manager should test the final product alongside QA teams, to ensure that the functionality works as expected and to release a working product to the end user. 

Signs That It's Time to Hire a Product Manager

Lack of Strategic Direction

Without a clear product strategy, your team may be working hard but not achieving the desired outcomes. A PM can provide a strategic vision, aligning the team's efforts with the company's goals and the customer’s most important needs.

Inefficient Product Development

If your development team is constantly shifting priorities or struggling with scope creep, a product manager can bring much-needed focus and organization. They can create a structured roadmap and ensure the team adheres to it.

Customer Feedback Overload

Receiving a lot of customer feedback is great, but managing and prioritizing this feedback can be overwhelming. A PM can analyze customer insights, prioritize features, and make data-driven decisions to improve the product based on what brings the customer the most value.

Competitive Pressure

If competitors are consistently launching better products, it's a sign that your product development process needs a boost. A product manager can conduct competitive analysis and help your product stay relevant in the market.

Scaling Your Business

As your company grows, so does the complexity of managing your products. A PM can handle this increased complexity, ensuring that your product lineup scales effectively and continues to meet market demands.

How to Hire a Product Manager

If you haven’t hired a product manager before, it can be difficult to find the right person for your needs. Job descriptions vary widely, and responsibilities range from updating copy on a website and uploading documents to a repository, to leading agile teams, defining product strategy, and conducting user research. 

Applicants are increasingly using a spray-and-pray method, applying for roles without taking the time to read job descriptions. They are sending their resumes to any job with Product Manager in the title, increasing the likelihood of receiving a high volume of unqualified candidates.

Add that to the increasing popularity of being a Product Manager as a career choice, and you’re bound to get a few hundred applications for each PM role you post.

How can you sort through piles of resumes and make the right hire when you’re new to Product Management in the first place?

Raven Road Partners can help. With our more than two decades of experience hiring for product roles and other functional roles, we know how to thoroughly vet candidates and match the right ones with your unique needs. We are constantly meeting and engaging top talent, and with our deep networks, we may already have a relationship with the best person for your team. 

Benefits of Hiring a Product Manager

Improved Product Strategy

A PM brings a strategic perspective, ensuring that every product decision aligns with the company's long-term goals.

Enhanced Cross-Functional Collaboration

Product managers work closely with engineering, marketing, sales, and customer support teams, facilitating better communication and collaboration.

Data-Driven Decision Making

PMs rely on data and analytics to make informed decisions, reducing the risk of failed product initiatives.

Customer-Centric Approach

A good product manager keeps the customer at the center of every decision, leading to higher customer satisfaction and loyalty.

Faster Time-to-Market

With a dedicated PM, your product development process becomes more streamlined, enabling faster delivery of new features and products.

When You Might Not Need a Product Manager

While the benefits of having a product manager are clear, there are instances where hiring a PM might not be necessary:

Early-Stage Startups

In the early stages, founders often play the role of the product manager. If resources are tight, hiring a PM might not be feasible immediately.

Small Teams with Simple Products

If your product is straightforward and your team is small, you might be able to manage without a dedicated product manager.

Outsourced Development

If you rely heavily on outsourced development, the need for an in-house product manager might be reduced. However, coordination and communication still need to be managed effectively.

Conclusion

Ultimately, the right product manager can be a game-changer, driving your product vision, enhancing team collaboration, and ensuring that your products deliver maximum value to your customers.

Ready to hire a Product Manager, but don’t know where to start? Consult Raven Road Partners to start your Product Organization today.