I’m writing about one hundred things I’ve learned about being a product manager.
Knowledge is power for product managers, but you have to gather and interpret the right metrics. I use these seven key performance indicators (KPIs) to keep track of my customers and to identify products that need some love and attention. I hope that you can use similar KPIs to expand your customer insight and to drive better performance.
Do you spend more time writing documents about your product than actually managing it?
Many companies with a product management function become all caught up in the process, drowning themselves in increasing numbers of documents. These rapidly become overwhelming to manage, contain duplicated detail and ultimately obscure the real goal of product management, namely to create successful products.
I once worked with a chap who managed an online service, which charged by amount of data stored. The service was popular and growing its revenues, however the P&L model assumed that data was stored compressed, when in fact the reverse was true. Thus, the more popular the service became, the more it lost money on running costs…