Since the emergence of the digital technology revolution more and more organizations are investing in digital products and solutions. As organizations are becoming more consumer centric, they see digital transformation as a way to innovate and develop new products, and also take advantage of the new business opportunities. Digital product managers play a vital role in this transformation. They lead teams in innovating and identifying new opportunities that could disrupt markets and create value for customers. In this article, we will understand in detail how to become a digital product manager, the various steps involved, digital product manager certifications and more. Let’s dive in.
Who is a Digital Product Manager and What Do They Do?
Product Managers are vital coordinators who bridge various cross-functional teams, encompassing areas such as design, marketing, finance, and legal. They are deeply involved in all facets of the product lifecycle, from strategic decision-making to hands-on execution. As various sectors, including banking, delve into digital innovations for enhanced customer service, the role of a competent product manager becomes even more crucial to ensure teams are aligned and objectives are met.
Due to the emergence of digital technology and products, the way business is being done has shifted from the traditional brick and mortar shop mode to a more digitalized way of selling. This has revolutionized the way customers discover, evaluate, and purchase goods and services.
How to Become a Digital Product Manager in 5 Simple Steps
Let us look in detail at the 5 steps to become a digital product manager.
Step 1: Master Skills
A. Soft Skills:
- Communication: Convey ideas, requirements, and project updates to cross-functional teams, stakeholders, and customers in an effective manner.
- Collaboration: Collaborating with various teams including designers, developers, marketers, and other teams to ensure an aligned product strategy.
- Problem-Solving: Identify issues, give practical solutions, and make data-driven decisions to address challenges during product development.
- Adaptability: The ability to embrace change, navigate uncertainties, and adjust strategies accordingly to evolving market trends and user needs.
- Empathy: Research on the user needs, their perspectives, and design products that align with the users’ emotions.
- Leadership: Motivate and lead cross-functional teams by creating a collaborative environment where teams can share ideas and work together towards a common goal.
- Negotiation: Resolve conflicts, prioritize tasks, and consider different perspectives to achieve the best results.
- Time Management: Accurately manage time, organize work, and complete projects on time in a fast-paced and ever-changing environment.
- Critical Thinking: Analyze market data, user feedback, and business goals to make informed decisions about product features and improvements.
- Stakeholder Management: Build and maintain relationships with internal and external stakeholders, ensuring their needs are considered.
B. Hard Skills:
1. Product Management:
- Product Strategy: Develop a product vision and strategy that is aligned with the company's goals and objectives.
- Road mapping: Create and maintain a product roadmap that outlines the features and enhancements that will be developed for a product.
- Market Analysis: Conduct market research to understand what the latest trends in your industry are and what your competitors are doing.
- User Research: Conduct user research through interviews, surveys, and usability testing to understand user needs and preferences.
- Data Analytics: Track key performance indicators (KPIs) to measure the success of your product and identify areas for improvement.
2. UI/UX:
- User-Centered Design: Apply design principles to create user-friendly interfaces that enhance usability and overall user experience.
- Wireframing and Prototyping: Use wireframes and prototypes to create visual representations of your product and test its functionality.
- Usability Testing: Use user testing to iterate on your designs and make improvements based on user feedback.
3. Development:
- Frontend and Backend Basics: Understand the fundamentals of frontend (HTML, CSS, JavaScript) and backend (APIs, databases) development.
- Agile Methodology: Use agile practices, such as Scrum or Kanban, to manage product development and iterations.
4. Marketing and Business:
- Customer Segmentation: Identify different groups of customers within your target audience based on their shared characteristics, such as demographics, behaviors, and needs.
- Pricing Strategy: Set prices for your product or service in a way that is aligned with your business goals and meets the needs of your target customers.
- Go-to-Market Strategy: Develop a plan for launching and marketing your product or service to achieve your desired business outcomes.
C. Other Competencies
Other than having these soft and hard skills, a digital product manager must have competencies like business acumen, strategic thinking, agility, working under pressure, etc.
Top Digital Product Manager Certifications / Degree
- SAFe 6.0 POPM Certification: SAFe® (Scaled Agile Framework) 6.0 POPM (Product Owner/Product Manager) Certification offered by Scale Agile, Inc. is a valuable credential for professionals involved in product management within scaled agile environments. The SAFe 6.0 POPM Certification is designed for individuals to become proficient product owners and product managers in a scaled agile environment. It emphasizes the application of lean-agile principles to optimize product value delivery and drive innovation. KnowledgeHut POPM course offers the required skills and knowledge in highly interactive online classes and makes you ready for the SAFe 6.0 POPM certification. The exam is a multiple-choice with 45 questions in a duration of 90 minutes. The passing score is 80% to receive the certification.
Izenbridge - Certified Scrum Product Owner (CSPO): The Certified Scrum Product Owner (CSPO) offered by Scrum Alliance is a widely recognized certification within the field of Agile and Scrum. It focuses on the role of the Product Owner which is a critical role in Scrum teams. Scrum product owners are responsible for defining and prioritizing the product backlog, ensuring value delivery, and collaborating with stakeholders. Once you successfully attend and participate in the two-day, Agile certification online course taught by a Certified Scrum Trainer (CST) you will be offered the certification.
- Professional Scrum Master I (PSM I): PSM I certification offered by scrum.org is designed for scrum masters, who are responsible for facilitating scrum teams. It covers topics such as scrum theory, practices, and values. You can learn and become a professional scrum master by attending agile online live courses. To get certified as a professional scrum master answer an online multiple choice 80 questions exam in a duration of 60-minutes. To obtain the certification you must score 85% in the test.
- Certified Digital Product Manager: Certified Digital Product manager (CDPM) offered by the Association of International Product Marketing & Management (AIPMM) is a credential that tests your understanding of practical skills, processes, and concepts used by competent digital product managers. This globally accepted certification helps you in performing your role as a digital product manager in all its capacity and expertise.
Step 2: Determine Your Ideal Timeline
Take your time to research and understand the skill requirements to become a digital product manager. Based on your knowledge, skills, work experience and learning capabilities, you can venture into the digital product manager career path in a few years, and it could take anywhere between 5 to 10 years to have gained full-time real-world experience in digital product management.
A. Start Learning in a Format That Suits You
There are various learning formats available for you including live interactive classes, online self-paced courses, in person bootcamps, webinars, etc. You could choose the learning method and style that suits your preferences.
B. How Long Does It Take to Become a Digital Product Manager?
The time it takes to become a senior digital product manager varies depending on various factors including your existing skills, educational background, and the specific path you choose. Let us look at these factors in detail:
- Educational Background: Having a relevant educational background such as a degree in business, technology, design, or a related field is a head start in becoming a digital product manager.
- Skill Enhancement: Gaining proficiency in necessary skills such as user research, data analysis, project management, and UX/UI design will help you in your career path.
- Real-world Experience: Gaining experience in digital product management is crucial. This can include internships, freelance projects, or working in roles related to product management or development.
- Certifications: Pursuing relevant certifications like Certified Scrum Product Owner (CSPO) or other product management certifications might require several days of training and preparation for the certification exam.
The above factors will give you a fair idea of the time it will take you to embark on your journey to pursue a career as an associate digital product manager.
Step 3: Begin Building Your Portfolio / Resume
Building a strong portfolio and digital product manager resume is essential for showcasing your skills and experiences as a Digital Product Manager. Also, creating a digital portfolio showcasing your projects, case studies, and design work will help you gain visibility and increase your chance of getting connected with recruiters.
StandoutStep 4: Where and how to find a job
Finding a job requires you to do research on various job roles and skills and see if your skill sets match with the job. There are different arenas through which you can start your job search.
- Online job boards: There are a number of online job boards that list digital product manager jobs. Some of the most popular job boards include Indeed, Monster, and LinkedIn.
- Company websites: Many companies list their open positions on their own websites. You can search for job openings on the websites of companies that you are interested in working for.
- Recruiters: Recruiters can help you find job openings that match your skills and experience. You can find recruiters by networking with people in the industry or by contacting recruiting firms.
- Networking: Networking is a great way to learn about job openings and meet potential employers. Attend industry events, connect with people on LinkedIn, and reach out to your friends, family, and colleagues.
- Internships: Internships are a great way to gain experience and make connections in the tech industry. Many companies offer internship programs for digital product managers.
A. Top Companies Hiring Digital Product Manager
Amazon, Google, Apple, Microsoft and Facebook are the top companies hiring digital product managers.
B. Job Outlook for Digital Product Manager
As per an insight given by the US-based management consulting firm, McKinsey & Company “the role of the product manager is expanding due to the growing importance of data in decision-making, and increased customer and design focus, and the evolution of software-development methodologies”
According to the U.S. Bureau of Labor Statistics, employment of product managers is projected to grow 22% from 2020 to 2030, much faster than the average for all occupations. This growth is being driven by the increasing demand for digital products and services.
Organizations are investing heavily in digital transformation to stay competitive in today's fast-paced market. Digital product managers play a pivotal role in driving these initiatives by creating innovative digital products that meet customer needs and expectations. The fast progress of technologies like AI, machine learning, IoT, and virtual reality offers digital product managers exciting chances to make innovative products using these emerging technologies.
Step 5: Ace the Interview
Brief overview of interview process
The interview process will be the first step in your recruitment and hiring process. It is a very critical stage where both the employer and the candidate assess each other's suitability and fitment for the role and the organization. The interview process typically involves several rounds of interactions and evaluations where the employer will assess you on your hard skills, behavioral intelligence, and soft skills to ensure a well-informed hiring decision.
Tips:
- Be well prepared by evaluating the digital brand manager job description and role thoroughly.
- It is always advisable to research the company’s vision and culture before attending the interview.
- Give real life examples of your technical and leadership skills.
- Showcase and highlight your people management skills and your experience in handling cross functional teams such as handling conflicts, motivating teams, etc.
- Be clear and confident in your answers.
- Avoid using jargons and use simple language to answer the questions
- Read case studies to understand the various aspects of the role.
Also find below the link for the digital product manager job description:
Who can Become a Digital Product Manager?
Digital product manager is responsible for the entire lifecycle of a digital product from its inception to its launch. First and foremost, to become a digital product manager, you must have specific skills and experience. Let us look in detail the requirements:
1. Digital Product Manager Requirements
- Analytical Skills: You must have knowledge and experience of handling and analyzing large volumes of customer data. This data will help you get a fair idea of customer patterns, their expectations, current trends and the future demand for specific digital products.
- Communication Skills: Digital product managers must have strong communication skills in order to convey ideas and suggestions in a simpler and more precise manner. They also must be able to liaise with stakeholders and clients in an objective manner.
- Leadership skills: A digital product manager must be able to lead multiple cross functional teams to the common goal and objectives. They must be able to delegate tasks, give constructive feedback, motivate teams and resolve conflicts.
- Organizational Skills: Digital product managers must be able to manage multiple projects simultaneously. They must be able to juggle various activities without getting overwhelmed. They need to be able to keep track of deadlines, budgets, and resources.
- Product and Technical Skills: Digital product managers must be able to clearly understand the technical requirements of the product like design, UI/UX, its purpose and be able to clearly communicate these product requirements to team members.
- Customer Behavior Analysis: Understanding the customers’ behaviors, their preferences, and motivations is a very important skill a digital product manager should possess. This helps them in creating customer focused innovative designs and products.
- Creativity: Digital product managers must have the ability to think creatively and out of the box to come up with innovative and creative ideas. They must have a hunch towards creative thinking and the ability to brainstorm with teams to create and design digital products.
- Adaptability: With the rapid changes in technology, digital product managers must have the ability to adapt to changes. They must be quick learners and acquire new skills in order to perform their role to their full potential.
- Collaboration Skills: Should be able to promote teamwork and collaboration so that various cross functional teams can work collaboratively without any hassles.
2. Educational qualifications
- Bachelor’s degree in business, computer science, information systems, or related field is required
- Experience and knowledge using SQL queries and with back-end and front-end programming languages such as Java, HTML, CSS, etc.
Benefits of Becoming a Digital Product Manager
Digital product manager is the primary role that understands product requirements and technicalities. As a digital product manager, you will be applying your management skills as well as technical skills in product innovation and creation. You will be directly responsible for the business revenue and organizational growth. You will also collaborate with cross-functional teams, including designers, developers, marketers, and business stakeholders. This collaborative environment will promote ideation and looking at different perspectives.
- High salary: Digital product managers typically earn a high salary due to the strategic importance of their role and the skills they bring to the table.
- Job security: The demand for digital product managers is growing rapidly. As businesses continue to invest in digital products and services, the demand for digital product managers is expected to grow.
- Variety of job opportunities: There are a variety of job opportunities available for digital product managers. You can work in a variety of industries, such as technology, healthcare, and finance.
- Challenging and rewarding work: Digital product managers play a vital role in the development of new products and services. They get to work with cutting-edge technology and have a direct impact on the success of their company.
- Opportunity to learn and grow: Digital product management is a rapidly evolving field. There are always new things to learn and new challenges to overcome. This can be a great way to challenge yourself and grow your skills.
What’s the Demand for Digital Product Manager?
Digital product manager demand is projected to grow 8% from 2018 to 2028. The demand for digital product managers is growing rapidly across all sectors and there are huge opportunities available if you are aspiring to be a digital product manager. The new and emerging digital technology is changing the way organizations are developing products and solutions. This transformation helps keep businesses in the league without becoming obsolete. The rise in customers demanding interactive digital products and services has made the role of digital product manager even more crucial. The traditional way of developing products has taken a huge leap in recent years and businesses are recognizing the need to adapt and embrace digital solutions. Companies are investing and allocating resources to create a culture of innovations and creativity.
Digital Product Manager Salary
- The average salary for a digital product manager is $98,127 in the US. The average digital product manager salary ranges between $70,000 and $136,000 in the US.
- The average salary for a digital product manager is £61,984 per year in the UK. The average digital product manager's salary ranges between £51,000 and £77,000 in the UK.
- The average salary for a digital product manager is INR1,600,000 per year in India. The average digital product manager's salary ranges between INR1,000,000 and INR 2,800,000.
- The average salary for Digital Product Manager is $112,000 per year in Australia. The average digital product manager’s salary ranges between $68,000 to $144,000.
- The average salary for Digital Product Manager is $110,488 per year in Canada. The average digital product manager’s salary ranges between $95,000 to $129,000. [Source: Glassdoor]
Conclusion
To wrap it all up, digital product managers play a vital role in the paradigm shift of businesses. They are the ones who drive digital solutions ideations and development. They form the bridge between the various teams involved in developing the digital product. Also, they keep the senior management posted on the digital product’s development and updates. Digital product managers are multi skilled professionals who manage resources, budget, cross-functional teams, and all aspects of digital product management. They hold significant responsibility for delivering top notch digital solutions and ensuring the business success of the organization.
