We will help to set up Compass on your servers or in the cloud. We will simplify the move and adaptation of the team. Order a consultation The Role of a Product Manager in Business It is difficult to overestimate the benefits of a product manager’s work. On the one hand, an experienc specialist will help identify promising ideas for the company, and on the other hand, reject losing options.
Thus, the business will be able
To get additional profit and not lose money due to mistakes. The product is the ideologist of the company. He explains why and for whom the team is releasing nigeria phone number library a product or making an update. He defines how this will help achieve the strategic goals of the business. Effective coordination of employees from different departments at all stages of the product life cycle also helps to increase revenue.
The success of the business in the long
Term largely depends on the product manager. When to Hire a Product Manager Small teams can work without a product manager: the business owner, for example, can set tasks and control their implementation. But as the team grows, a product manager becomes necessary. After all, at some point the volume of work grows so much that it is no longer possible to control it with the efforts of the company founder alone.
How to evaluate the effectiveness of a product manager
The work of a product manager is usually assess bas on the level of skills of specialists and their motivation may be different internal and external criteria. Internal criteria include: Interaction within the team. How well are the work processes debugg, does everyone understand what and how to do, are there any unmanageable conflicts, etc. This is rather a subjective indicator, it does not have a quantitative assessment.
The spe of the team’s work
To one, how often do force majeure situations occur? External cg leads factors include numerous product metrics that show the level of its success in the market. These include, for example: Number of purchases and new users for the period. Average revenue per user (ARPU) and product marginality. Return on income relative to advertising costs (ROI). It should be above 100%. Customer Retention Rate (CRR): It is more profitable to retain current customers than to attract new ones. Customer Satisfaction Score (NPS).