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A 3-Step Product Manager System to Make Your Product Successful
As the CEO of your product, at the end of the day you are responsible for its success. No sales, no developers, no CEO. you This is a major difference between a project manager and a product manager.
Project managers can complete their tasks, make sure everything is checked, and then have a great sense of satisfaction. A product manager does not feel that unless his/her product is a commercial (or internal) success. In many companies, the process of making a product successful is complex and seems to be designed by the project manager: it is filled with many steps and dozens of stages. Making a product successful is actually a relatively simple process, and product managers can make it happen if you follow the three steps below.
In short, there are three things done right for your product to be successful: improving the quality of prospects your sales team generates, improving your product presentations to potential customers, and increasing the number of potential customers. Call your sales teams. To make a product manager’s life easier, these three areas need to be improved simultaneously. Now here’s how to do it:
- Improve the quality of prospects your sales team generates: Assist your sales teams by providing referrals to existing customers and new customers. Hey, selling any product let alone your product is a tough job. When a salesperson shows up at a new customer’s door, do you think the prospect is happy to see them? No. However, if you can get existing customers to open the door for your sales team, the prospect’s guard will drop and your salesperson will have a real fighting chance of getting interested in your product. Direct your sales teams to meet only the decision makers. You know better than anyone what kind of job title is needed to shell out the cash needed to buy your product. Tell sales teams what to look for. This will help your sales teams make the best use of their time – if they can’t get through to the right person, they’ll know to move on to the next prospect. Guide your sales team toward larger buyers and away from smaller buyers. Every deal takes about the same amount of time to close, and if it turns out that a prospect doesn’t have a lot of money to spend, then they really aren’t a good fit for your product. Remember that just a few big deals are much better than a whole bunch of small deals.
- Improve presentations about your product to potential customers: Help your sales teams by equipping them with the materials they need for multiple meetings with potential customers. Rarely will a deal be closed in the first meeting so you need to teach your sales teams about the flow of conversation as it relates to your product. An important part of this is to help them identify the goals of the first and second meetings. If possible, as a product manager you should practice with your sales teams so they don’t repeat themselves out of nervousness or lash out in front of the customer.
- Increasing the number of leads your sales team calls: You are the CEO of your product. It’s up to you to guide your sales teams to the right prospects and then let them work their magic. Make sure your sales team is only meeting with decision makers – meeting with anyone else will make your team look like vendors instead of potential business partners. Ask your sales teams to take responsibility for their schedules. Get them to agree to meet with the prospect at a time that works best for them, and then call back later to move them to a time/date that works best for your sales team. This way they can pack more customer contacts in a given day. This way they will eventually sell more of your product.
Finally, make sure the sales team selling your products is out of the office during prime business hours. If they’re in the office, they won’t be in front of the customer selling your product, and that’s bad for both of you. While all of this may seem like a lot of work for a product manager to sell, remember that you are the only one in your company who will ultimately be judged by how successful your product is. You should be able to do it all!
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