All the various components, like customer acquisition, conversion, and retention are driven by the product itself.īecoming a product-led company is a process that starts with a mindset shift. In contrast to sales-led companies whose focus is on the sales cycle and closing the sale. “Product-led growth is defined as a go-to-market strategy that relies on using your product as the main vehicle to acquire, activate, and retain customers.”Īccording to this strategy, product-led companies focus on outstanding user experience. As the author of “Product-Led Growth”, Wes Bush, writes: Product-led growth will have a lot of traction in 2022. They have become more tech-savvy and expect the very best shopping experience at the most affordable price. There is a deep focus on the customer and their product’s higher purpose.Īs a result, users have new ways to buy and use products. Today, Product Managers have shifted to discussing “organization strategy” and “transformation in a digital world” empowered by digital capabilities. It should also look at developing the product to adapt to evolving user needs.
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#2.Products have become the primary driver of customer acquisition and retentionĪlthough it may be interesting to discuss how to leverage technical skills, the focus of a Product Manager should not solely be on technology. Fully remote work positions give companies a much bigger pool of viable candidates.īy removing the constraint on commuting distance and switching to fully remote work, IT companies lean more on freelancers and independent contractors to fill in the gaps in highly-skilled product professionals. More employee freedom around their location has made highly-skilled Product Managers and Product Owners choose freelancing rather than a full-time hire.īesides the obvious cost-savings for companies due to downsizing their office space, there is also a huge benefit related to the hiring process. Why is agility so important? Read our blog: Agile Projects: 5 Mistakes a Product Owner Should Avoid Additionally, flexible work arrangements have become the standard for employees in key industries. Remote agile product teams will continue to thrive in 2022 and beyond, as most companies have already adopted a hybrid model of remote/office work. The transition to remote working means that workforces are more distributed, and collaboration creates new challenges. They also increase their capacity to quickly adapt their products and meet the ever-increasing market demand for quality and convenience. Organizations that invest in reskilling and upskilling their product teams become more resilient to future market challenges. There are many courses and certification programs designed to help Product Managers become more specialized and advance in their careers.
We therefore expect to see growing specialization of Product Managers in areas such as AI Product Management, Personalization and Data Product Management. This position requires a more robust skill set. Product Managers have remained in the spotlight as value maximizers and agents of change, with responsibility for product-centric business growth. In the past two years, we have seen a global increase in interest for product teams. Non-digital businesses are also expanding their product focus to the digital world. With working from home becoming “the new normal”, and consumer spending habits transformed as a result of the pandemic, our markets have shifted dramatically. #1.Growing demand for Product Managers and freelancing Product Managers face a renewed set of challenges and a list of obstacles that continue to be shaped by pandemic aftershocks. Here are 5 product management trends to follow in 2022. To thrive, companies must become resilient in this fast-paced, ever-changing environment – and that means product managers must be one step ahead.
To stay relevant and attract clients, product managers must make sure their products keep up with trends and leverage new features and benefits.īut as they say, with change comes opportunity. They now have many different needs, more choices, and all kinds of distractions. Not only has the world changed, but so have customers.
It may often feel like we are losing the battle to stay relevant to our target markets. The world of technology is constantly evolving – from advanced AI, Machine Learning, FinTech, and Cryptocurrency to Robotics and RPA. Let’s take a look at the top trends in product management. With so much at stake, the role of the Product Manager or Product Owner has become more important than ever before. Leading businesses are adopting new technologies faster – creating innovative products against the clock in a race to stay relevant and keep customers engaged.
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