What is Digital Product?

When I attend a BBQ and someone asks, “What’s your job?” I usually say I work in “Digital Product.” But often, this leaves them puzzled about what that really means.

To put it simply, I oversee software products and teams. This usually helps them grasp the main idea.

Yet, there are many smart young minds who aren’t familiar with Digital Product Management. This post aims to give you a basic understanding, and perhaps encourage you to join the tech community at large.

I naturally moved into digital product work after years of handling video projects, storytelling, branding, design, and websites. So my entry was informal, as is common, but I still had no idea this was even a role.

Digital products come in various types:

  • Business to consumer (B2C)
  • Business to business (B2B)
  • B2B2C
  • Enterprise

They can be platforms or applications called SaaS, which stands for Software as a Service. They might be free, offer free-to-paid upgrades (freemium), have a one-time fee, or be subscription-based.

What is Digital Product Management?

At its core: Digital product management orchestrates the strategic lifecycle of digital assets—software, apps, and online services—from conception to continual enhancement.

Why does it matter?

In our tech-driven era, adept digital product management ensures products satisfy users, amplify earnings, and retain competitiveness. It harmonizes tech with user expectations, forging value and distinction.

In a nutshell, this is what a product manager’s role is: align the product with the business needs and the user’s needs. Create something great at the intersection of the two and you’ll be successful. Easier said than done, and there’s a ton of nuance in there. Millions of small decisions that sum up to an experience that will ultimately make or break the product (and maybe the business too).

Though guidelines exist, rigid rules don’t.

Role of a Product Manager

Product management spans diverse tiers: executive stewards steering high-level strategies, middle-tier managers aligning teams and initiatives, and hands-on associate product managers executing vital tasks in the product trenches.

Whatever the level, the main tasks include:

  • Navigating Complexity: Digital product managers bridge the gap between various teams, translating customer needs into actionable plans for developers and designers.
  • Decision-Making: They make informed choices about features, design, and priorities based on business goals and user insights.
  • Stakeholder Alignment: Digital product managers ensure alignment among stakeholders, fostering communication and shared objectives.
  • Strategy and Vision: They contribute to the overall product strategy, ensuring the product’s direction is aligned with the company’s goals.
  • User-Centricity: They champion user needs and ensure that the product delivers exceptional user experiences.

Digital Product Management Lifecycle

Digital products hold a fascinating trait—they’re forever evolving. A Product Manager’s duty? Unceasingly refine and elevate the product fueled by user insights and data. With each new discovery, Unser insight or bug unearthed, the cycle continues.

  • Ideation & Discovery: Generating and refining product ideas based on market gaps, user needs, and strategic goals.
  • Requirements: Defining the product concept, features, and scope, often through user stories and prototypes.
  • Development: Building the product based on defined specifications, using Agile methodologies for iterative development.
  • Testing: Thoroughly testing the product for quality, usability, and performance.
  • Launch: Introducing the product to the market, often with a Minimum Viable Product (MVP) approach.

Balancing Business & User Needs

A skilled PM harmonizes business and user needs. I’m biased, but I’ve always prioritized user experience in the products I’ve managed (I’ve mostly worked on consumer applications). Yet, there are instances, especially in B2B and enterprise settings, where tech prerequisites steer the overall experience.

Generally, look out for the following:

  • Business Objectives: Achieving profitability, market share, and strategic growth are vital for a company’s success.
  • User-Centricity: Prioritizing user needs, preferences, and pain points leads to products that customers find valuable and user-friendly.
  • Balancing Act: Effective digital product managers must find a middle ground between business objectives and user-centric design to create successful products.
  • Long-Term Success: Balancing both aspects ensures products remain relevant and aligned with market trends.

Data-driven Decision Making

In the realm of digital product, a remarkable advantage is the abundance of data and analytics available to a PM. It’s hard to envision making pivotal choices without such insights. Contemporary tools facilitate instant, daily information access. Yet, the challenge lies in maintaining perspective amid details.

  • Data-Driven Insights: Data from user behavior, customer feedback, and market trends provide valuable insights.
  • Informed Decisions: Digital product managers use data to make informed decisions about product features, enhancements, and direction.
  • A/B Testing: Data-driven A/B testing helps optimize user experiences and identify effective strategies.
  • Iterative Improvement: Regularly analyzing data enables continuous improvement and refinement of products.
  • Validation: Data validation supports assumptions and helps in steering the product in the right direction.

I’ve tried to provide a foundation for understanding the core concepts related to digital product management, the role of product managers, the product management lifecycle, the importance of balancing user needs and business goals, and the crucial role that data and analytics play in informed decision-making. Expanding on these concepts can help you provide valuable insights to your audience interested in digital product management.

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