Smit Srivastava

"The Function within an organization which is responsible for the product's overall success is known as Product Management. It is a collaborative function to align internal and external stakeholders towards product vision" Major pillars of Product Management. 1)Market Research  2) Product development  3) Product Launch ❇ Market Research ✔ Identify problems & the key market drivers. ✔ Gather customer needs  ✔ Evaluate market potential  ✔ Market Segmentation  ✔ User Research  ✔ Competitive Analysis  ✔ Value proposition  ✔ Business Model ❇ Product development ✔ Product vision and Roadmap  ✔ Objectives and key results  ✔ Product design  ✔ Ideation and prototype development  ✔ Feature prioritization ✔ Build and test  ✔ User acceptance ❇ Product Launch ✔ Pricing Strategy  ✔ Sales and support training  ✔ Release notification  ✔ Sales play book and battle card ✔ Product messaging  ✔ Customer demo  ✔ User feedback  ✔ Go to Market ✴ Various types of Product Manager. The following general types and popularly used designations in the PM domain. 🔸 Technical Product Manager  🔸 Data or Analytics Product Manager  🔸 Design Product Manager  🔸 Growth Product Manager  🔸 Product Marketing manager  🔸 Product line Manager 🔵 Product Management is a broad function which requires to understand the market problem and the ways their product can solve the problem. So, organizations use to split this broad spectrum of responsibilities between different departments so each can focus on their respective areas ( inbound vs Outbound). Key focus areas of inbound and outbound PM. ⏺ Inbound Product Management ◼ More engineering focused responsibilities ◼ Understand technical aspects and prepares technical requirements/ specifications  ◼ Provide solution to customer problems in the form of technical user stories  ◼ Chalk out product roadmap and own the priority of features  ◼ Collaborate with engineering, design and research stakeholders to develop and release features on time. ◼ Customer feedback loop and release management. ⏺ Outbound product Management ◼ More business focused responsibilities  ◼ Understand the pulse of the market and prepares go to Market strategy  ◼ Provide insights to position the product better amongst target audience  ◼ Derive the pricing SKUs with ROI aspects  ◼ Develop sales & marketing enablement materials such as product decks, sales playbooks, battle cards, marketing collaterals etc. ◼ Product training to customer facing teams ♻ Organizational Structure 0f Product Management 📶 Career Trajectory of a typical Product Manager ⬆ CPO/CXO/CEO ⬆ VP,PM ⬆ Director PM ⬆ Principal PM ⤴ Senior PM ➡ Product Manager (PM) Do let me know your take, I'm eager to hear your responses. 😊

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***How to actually be a data driven product manager? Well if you are are the kind of PM who only looks at data supplied by your analyst in excel and has never documented a deliberate instrumentation section in your PRDs and has never logged in into your web analytics tool but love to proclaim yourself as a data driven PM, well let me peel the layers a bit*** 1. Let's start simple - first step is understand some basic nuances of data that you are seeing - let's say you are looking at conversion data - some simple questions you could ask yourself - Is it visit level or visitor level data, does it make sense to look at this data at this level, what do the attribution windows look like? Default attribution is ok or should you look at longer term attribution. 2. If the data feels off, do you have the ability to look under the hood and know whether it is due to an incorrect instrumentation problem or due to incorrect segmentation strategy - eg some segments applied at visits level, some at page views level. Hint - segmentation should generally be applied at same granularity. 3. When you are asking for more granular data - know what is feasible and what is not. Eg. if as a PM while launching the product you never bothered to instrument price buckets for devices on key events - then expecting your analyst to supply you conversion data for high end vs low end devices is foolhardy. Sure, he could first pull out the data by different device models and then manually bucket them but he is just paying extra tax for your own sloppy work. If you were planning to do this analysis from get go you should have built it into your instrumentation strategy. 4. Which brings me to a very important point always be very very deliberate and clear about your instrumentation plan- events and dimensions and make it part of your PRD. 5. Finally, you need to know the right tracking strategy for the problem at hand. Eg. if you want to know conversion of users who click on filters in the funnel, what should your tracking implementation be? Do you think if you track the click info in a page level variable as normally click data is tracked, you will be able to find the conversion? I hope you will do this in the future before loudly and proudly proclaiming yourself as a world class data driven PM. Let’s stop BS-ing shall we? Follow me for high quality content, not product philosophy but practical insights - https://lnkd.in/gHweK_q7 AND also here https://lnkd.in/ggUKftFq While you are at it you can also grab my product assignments playbook, 19 real product cases, all successful submissions, real job offers, ~258 pages of content. ***Grab it now**** - https://lnkd.in/gHzyN-Xc #product #datadriven #analytics

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What is North Star ✨ framework? North Star framework is an important product management concept to define success metric for business and inputs that drive the success metric. Here is an attempt to simplify it (Go to PPT 💻) + What is a North Star Metric? A North Star metric is the one measurement that’s most predictive of a company’s long-term success. + Why Do We Need a North Star Metric? Focus and Alignment Company-wide View

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Product management demands honed skills that are cultivated and refined over time. Many believe they can effortlessly navigate the realm of product management, but there's a chasm between mere participation and achieving tangible outcomes. Here are five pivotal skills for product managers who consistently deliver results: 🚀Insightful Data Interpretation: Transforming qualitative and quantitative data into actionable insights necessitates sharp critical thinking. 🚀Product Intuition: This amalgamates cognitive empathy, creativity, and domain proficiency. While nurturing creativity can pose a challenge, it's entirely attainable. 🚀Compelling Data-Driven Narratives: Mastering the art of persuasive storytelling with data, while ensuring factual accuracy, is a skill that can be developed with practice. 🚀Versatile Communication: The ability to communicate effectively across various mediums is crucial for successful product managers. 🚀Decisive Decision-Making: Product managers are constantly required to make informed decisions swiftly, utilizing available information to prevent team stagnation or inertia. What stands as the foremost growth opportunity in product management within your organization? And what about yours? #productmanagement #coachingproductmanagers #productleadership #producttakes ------ 🌍 Shubham Karnwal 🆘 0-1 Product Managers 🔔 Follow me for more content ♻️ Share is care

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As a seasoned Engg and Product Leader , I'm often asked: Is AI right for my product? There is NOT a simple "yes" or "no" answer to it! Because, It requires a very careful assessment and evaluation. Do not just blindly follow the train, till you calculate everything around it to aboard. Let's understand with some examples : -Assessing AI for the product means, understanding its potential benefits and drawbacks. Take, e.g., the 📊Recommendation Systems. AI-powered recommendations can significantly enhance user experience by personalizing content. However, they require vast amounts of data and sophisticated algorithms, which may not always be feasible or necessary for every product. -On other hand, let's consider 🔒Cybersecurity. AI has changed the way of threat detection, enabling real-time analysis of complex patterns to identify and mitigate risks. In this case, integrating AI isn't just beneficial but essential for staying ahead of evolving security threats. -Now let's look at chatbots: While AI-driven 🤖 chatbots can automate customer support and streamline interactions, they may "still" fall short in handling nuanced Q/A or providing empathetic responses. In such cases, a human touch might be more effective. -On the other hand, in industries like healthcare , 🏥AI-powered diagnostic tools have demonstrated remarkable accuracy in detecting diseases from medical images. In this domain, the benefits of AI in improving healthcare outcomes outweigh concerns about privacy or algorithmic biases. 👩‍🎓 As a Technical Product Manager, my role is to guide 🗺 product decisions based on rigorous analysis and strategic foresight. Before jumping on the AI bandwagon, let's critically evaluate its relevance and potential impact on our product's success. When deciding 🛠️whether to incorporate AI, it's imp to weigh in factors like data availability, computational resources, and the problem domain's complexity. Blindly following the AI trend without proper evaluation can lead to wasted resources and missed opportunities for innovation. It is also 🎯crucial to educate leadership authentically, about the true status of AI research and its impact on consumers. Blindly saying "yes" to every AI implementation request, isn't beneficial to informed decision-making. By providing a balanced view of AI's capabilities, limitations, & risks, we can foster discussions grounded in reality. Ultimately, empowering leadership with knowledge and fostering a culture of critical thinking enables us to make responsible decisions aligned with our product's goals & values. 💡 What are your thoughts on incorporating AI into product development? 👩‍🏫 How do you approach educating leadership about AI in your organization? Share your strategies and insights in the comments below #ProductManagement #AI #TechInnovation #DataDrivenDecisionMaking #StrategicThinking #Engineering #Leadership #AI #Leadership #ProductStrategy #EthicalAI #ContinuousLearning #InformedDecisionMaking

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Many times in my PM career, my teams were executing at full capacity, as per the aligned product startegy and also building backwards from customer needs found during user research convos. But the products failed to deliver the impact in first go and required few iterations to hit expected success metrics. Reflecting back, the success was not denied due to execution, but due to lack of understanding of all parameters which lead to success in any complex initiative. Navigating such complex situations requires understanding the issue and then communicating the same with others in team to create a shared understanding of what's wrong. In such cases Dr. Mary Lippitt's Model helps understand what's really happening in an initiative. The model essentially says, there are 5 inputs to manage any complex change and if any of the 5 inputs is missing the team will struggle. Go through the screenshot to identify individual scenarios and the corresponding team reality. Once you understand the parameter absent in your relevant context, fix it proactively to increase your odds of success. From experience, defining right “ Incentives” for teams with conflicting priorities is the toughest and "Vision" and "Skills" are most difficult to change in short term and hence Product Managers typically tweak the other 3 parameters to achieve success. #productmanagement

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#productmanagement #productvision #productmission #productroadmap #productstrategy Product Vision A product vision is a high-level, long-term view of what you want your product to achieve and how it will benefit the users and the market. Key Points: - Inspiration: Provides motivation and direction for the team. - Alignment: Ensures all stakeholders have a shared understanding of the product's goals. - Future-Oriented: Focuses on the desired impact and end state. Example: To revolutionize urban transportation by creating the most user-friendly and sustainable electric scooters. Product Mission A product mission details the purpose of the product, explaining why it exists and how it aims to fulfill the vision. Key Points: - Purpose: Defines the product's core purpose and primary objectives. - Value Proposition: Clarifies what value the product provides to customers. - Tactical: More immediate and actionable compared to the vision. Example: To provide convenient, affordable, and eco-friendly transportation solutions for city commuters. Product Roadmap A product roadmap is a strategic document that outlines the planned development and evolution of a product over time. Key Points: - Timeline: Includes short-term, mid-term, and long-term milestones. - Features and Releases: Lists planned features, updates, and versions. - Prioritization: Shows which initiatives are prioritized and why. Example: Q1 : Launch of mobile app. Q2 : Integration with public transport systems. Q3 : Introduction of a new, lightweight scooter model. Product Strategy A product strategy outlines the approach to achieving the vision and mission, including market positioning, competitive landscape, and go-to-market plans. Key Points: - Market Analysis: Understanding market needs, competitors, and opportunities. - Differentiation: Defining how the product will stand out from competitors. - Customer Focus: Identifying target customer segments and their needs. - Revenue Model: Detailing how the product will generate income. Example: Target Market: Urban professionals aged 25-40. Unique Selling Proposition: The most reliable and energy-efficient scooters. Revenue Streams: Sales, subscriptions, and partnerships with local businesses.

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Navigating the Ever-Evolving Landscape of Product Management In the dynamic realm of product management, staying ahead of trends is crucial to ensuring successful product launches and maintaining a competitive edge. As technology continues to advance and consumer preferences shift, product managers must adapt their strategies to meet evolving demands. Here, we explore some prominent trends shaping the field of product management, propose a solution to a common challenge faced by product teams, and highlight the importance of cultivating a diverse portfolio of experiences. Trends in Product Management: 1. Data-Driven Decision Making: Product managers are increasingly leveraging data analytics to inform their decisions throughout the product lifecycle. By harnessing insights from user behavior, market trends, and performance metrics, teams can make informed choices that drive product innovation and enhance user satisfaction. 2. Agile and Lean Methodologies: Agile and lean principles continue to dominate the product development landscape, enabling teams to iterate quickly, respond to feedback, and deliver value to customers in a timely manner. Embracing these methodologies fosters flexibility and adaptability, essential qualities in today's fast-paced market environment. 3. Customer-Centric Design: Successful product managers prioritize the needs and preferences of their target audience, adopting a customer-centric approach to product development. By conducting user research, gathering feedback, and implementing design thinking principles, teams can create products that resonate with users and address genuine pain points. Cross-Functional Collaboration: Collaboration across departments and disciplines is becoming increasingly prevalent in product management. By fostering communication and alignment among engineering, design, marketing, and other stakeholders, product managers can ensure that everyone is working towards a shared vision and goals. Solution to a Common Problem: One recurring challenge faced by product teams is managing conflicting priorities and stakeholder expectations. To address this issue, implementing a robust prioritization framework can provide clarity and direction. By defining clear criteria for evaluating features and initiatives, teams can objectively assess their potential impact, feasibility, and alignment with strategic objectives. The Importance of Diverse Experience: Building a diverse portfolio of experiences is essential for aspiring product managers looking to advance their careers and make meaningful contributions to the field. Exposure to a variety of industries, product types, and organizational structures equips professionals with valuable insights and perspectives that can inform their approach to product management. Whether it's working on consumer-facing mobile apps, enterprise software solutions, or hardware products, each experience offers unique challenges and opportunities for growth.

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It is 2024 and I am yet to find any Product Management Certification in Indian landscape which gives good ROI. For instance spending 50k- 2 Lakh just for the Product managemt basics, case studies and "exposure" still does not make sense to me. It is all available Free today. I am looking for inputs or suggestions from people who have participated in such certifications who have gained value, feel free to comment and let me know your experience. DMs are also fine if you think you do not want to comment publicly. P.S: I am okay with the hate I get for writing this, I am a PM have too thick skin for all this. Sankalpa Sarkar (PSPO) Tannishk Sharma #productmanagement #aspiringpms #productmanagers

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Product Managers, if you're seeking career growth insights, Lenny Rachitsky's recent podcast featuring Vikrama Dhiman is an absolute must-listen. Vikrama shares a valuable PM skill development framework, and immense wisdom and specificity on how to sharpen skills at every stage. While avoiding generational stereotypes, he definitely addresses what, I'd hazard, other leaders have noticed as a rising trend of young professionals seeking rapid career progression ahead of skill enhancement - and he does it with gracious & empathetic advice that is right on the money. For leaders aiming to mentor product managers effectively, this discussion is a goldmine too. Thanks Lenny and Vikrama for the thought-provoking dialogue #ProductManagement #CareerGrowth #LeadershipDevelopment

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Writing PRD's is an art. Read this awesome article from Planio on writing lean product requirement document for #productmanagement and #software professionals. Follow ProductHood School and Lokesh Gupta for more such resources.

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In Product Management, theoretically, vanity metrics are poor metrics to talk about. You should be more focussed on success metrics, one of which could potentially become a North Star Metric. However, in real life while working on real products or real business models, everything matters, because it is all connected. You cannot discard a vanity metric and directly jump to success metric. In most of the cases, vanity metrics create path for success metrics to actually succeed. Example 01: Social Media Number of followers can be considered a vanity metric in this case as it does not signify a real value or return. You could argue that how much your users are engaged in your business is the real success, or even better, follower-to-user conversion. But would you want to have just 5 followers who are all engaged with you, have also purchased a product of yours, but are still 5? Example 02: B2B SaaS Website Number of unique website visits can be considered a vanity metric in this case. What would really matter is the number of new sign ups, number of users who have started free product trials, and finally how many of them went for a paid subscription. However, who would sign up without coming to the website? Metrics should be visualized as a ladder where one step leads to another, all done with a backward thinking approach. If your north star metric is revenue and your product is just a website, you should try to look at it backwards from revenue to how people would know do checkout, add product to the card, search for a product, even get aware about your website and type it in the URL. If you really want your product to succeed, don't jump to defining metrics. Instead, define a clear detailed step-by-step process and work on why and how would a user do what you want them to do at every step of this process - define success at every step. If that is done right, your product is going to succeed. Even if you have defined the right success metrics, it wouldn't really matter if you have not defined the right process. #productmanagement #productanalytics #metrics #product

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2 key frameworks for product analytics [𝟏] 𝐀𝐀𝐑𝐑𝐑: 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧, 𝐀𝐜𝐭𝐢𝐯𝐚𝐭𝐢𝐨𝐧, 𝐑𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧, 𝐑𝐞𝐟𝐞𝐫𝐫𝐚𝐥, 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 What?  The AARRR framework tracks the user lifecycle and helps in identifying key stages of growth. It's a funnel model to optimize and measure customer lifecycle. Use it to: Understand user flow and optimize for specific growth goals (e.g., increase referrals). Pros:  Provides a clear focus on impactful metrics leading to revenue growth. Cons: Can be oversimplified - doesn't take into account all product types. [𝟮] 𝗛𝗘𝗔𝗥𝗧: 𝗛𝗮𝗽𝗽𝗶𝗻𝗲𝘀𝘀, 𝗘𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁, 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻, 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻, 𝗧𝗮𝘀𝗸 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 What? This Google-developed framework focuses on core user metrics for app success, and helps measure and improve user experience. Use it to:  Measure user experience (UX) and prioritize features that drive user satisfaction. Pros: Holistic user-centric approach, helps identify areas for improvement. Cons: Can be subjective - interpretation of metrics like 'Happiness' can be biased. Liked this? Follow Vishal Bagla for more. #ProductManagers #ProductManagement #Frameworks #Career

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You might get lot of tips and advice as a PM aspirant. Not all are true. Transitioning to a new career is tough and requires a lot of hard work. I help people transition to #productmanagement career and try to be as realistic as possible. I don't like to sugar coat just to make some quick bucks. That's why if someone says you that you can become something in 6 weeks then mostly its wrong. Certainly some might be lucky but that's an exception than norm. Almost everyone I know or worked with had to struggle a lot to become something. So the next time someone gives you some tips, don't take it on the face value. PS - I don't guarantee a PM job but what I promise is something that you really need. Pushing you out of comfort zone. Join my next PM cohort and learn to build great products. Follow ProductHood School and check website.

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Here is how you make data work for you as a Product Manager… I happened to come across this excellent ebook written by the folks at Product School that fairly summarises this topic. My understandings from this book are as follows: 1️⃣ Relentlessly focus on your core business You should use data to understand customer sentiment, discover hidden pain points, and to communicate your product’s value effectively. 2️⃣ Deliver your product efficiently Feature factories don’t sell. Build what matters and ship it on time using data at hand. 3️⃣ Leverage data to create value for users Understand data democratisation. The data you collect should also help users in gaining insights. Give them descriptive dashboards to make a stickier, more valuable UX. 4️⃣ Build or Buy? Do not build everything in-house. Scale fast using 3rd party solutions when time is key. Homegrow only when it’s long term and you have time. 5️⃣ Be a data-driven communicator If you communicate efficiently using data, stakeholder buyins get easier. Efficient communication includes but is not limited to visualising data, simplifying complex data points, and narrating product value prop. Feel free to add something that you find of value. ♻️ Repost if this will help your network.

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