Today’s fast-paced world of technology and increased competition requires product managers who dare to stand up for their products and strategy choices. The complexity of technology companies’ product management has increased dramatically, and many tasks have been moved from the management team to the product manager’s hands.
In the role of a SaaS product manager, you are in charge of your product or service, with the full responsibility to both create and implement your strategy. Understanding the customer, the market, and the competition is vital, and you must constantly push for improvements to create, increase or maintain profitability.
On top of this, you’re the spokesperson who will ensure that your particular product or service ends up at the forefront by pushing for its capabilities.
The SaaS product manager’s role places high demands on competence, personal abilities, and key qualities. With the experience shared by many product managers from tech, industrial and service companies of various sizes, we’ve concluded that the following qualities make a great SaaS product manager.
Thorough Understanding of the Product or Service
In discussions with the development team, a SaaS great product manager should know which are the hottest technology trends, what their competitors are doing, which parts of the product are the core, and what they can use as knowledge from other companies.
Regardless of whether they’re working in a startup, small, medium, or large company, as a product manager, they must understand their product. Since the product manager’s main tasks are strategic planning and execution of new and existing products, they must also have extensive knowledge about what the company offers.
A product manager is considered the hub of expertise for the entire organization regarding the products and services.
Outstanding product managers know how to evaluate the industry, the market, and the competition out there. With this, they’re able to create a realistic vision of how to meet the needs of the market and customers. They also recognize when products should be modified to meet evolving customers’ needs.
The bottom line is that a good product manager knows their business and understands that the strategy for the product supports the company’s long-term goals and values.
Understand How to Use the Right Tools and Platforms
To be an excellent SaaS product manager, you must ensure that the projects are all fulfilled on time, and also choose the right tools and platforms for the team. Making sure you have plugins and integrations that streamline your devs workflow and allow them to access the right data efficiently is of the essence.
For instance, the proficient Gitlab Jira integration solution powered by Bitband allows product managers to stay on track with the development teams on every issue. It assists in the coordination of project team members’ efforts and keeps close track of progress.
It’s an excellent way of staying in control of their committed data while also ensuring that that data is protected at all times. When it comes to accelerating the development workflow and making deadlines more achievable, these integrations are extremely effective.
In addition, a SaaS product manager should always make sure to opt for an option that allows integration with other types of tools, such as powerful collaboration and communication tools.
Brave With Strong Decision-Making Skills
A product manager must make decisions under time pressure and with many unknown parameters. They’re responsible for the consequences of their decisions and, as a result, must act as leaders and keep track of a range of activities and build an effective employee engagement strategy that will ultimately help grow the business.
A product manager must create a vision for the SaaS product that will be successful today but also in the future. This strategy eventually leads to revenue growth.
A dedicated SaaS product manager knows that a successful product requires many people to work together with sales, marketing, support, development, and operations. The different sectors have different drives and views on what is most important. So it’s the product manager’s job to listen and understand, make forward-looking decisions based on current data, and explain why the chosen path is the right one.
A SaaS product manager must also allow for the acquisition of new tools and methods for dealing with market insights, product planning, requirements management, and handover to development. The product leader role is therefore ideal for those who want to constantly learn new things.
Being a product manager entails having a special mindset rather than a specific education. It’s about being able to look holistically at work, but also being able to understand how to develop a product or service that can generate revenue.
SaaS product managers should have a feel for the marketing and it is of incredible value for them to know when to be creative and when to use data as a guide in the operations. They can drive brainstorming and develop innovative ideas together with customers, but also go into detail with developers.
To conclude, successful SaaS product managers are those who bring great enthusiasm and a deep commitment to excellence. They understand all aspects of the business, use the right tools, and make strong decisions every day.
In essence, they’re the ones who bring products and services to market aiming to satisfy customers’ needs and increase the company’s revenue and profitability.