Not only will you be able to get a head start on the full Growth Product Manager Nanodegree program — available in June — but taking this course will unlock 30% off the price of the full Nanodegree. All progress in this course can be applied towards graduation from the full Growth Product Manager Nanodegree program
If you’ve recently taken an interest in product management, you may have noticed that there’s a subset of designations in this space that have the word “growth” thrown in everywhere – Growth Product Manager; Product Growth Manager; Product Manager, Growth; and Product, Growth.
And no, these aren’t just fancy synonyms for the same job. A quick Google search for the term “growth product manager” shows close to 7.5 billion results – nearly double what you get when searching “product manager.”
Marketing analytics is at the heart of any digital marketing strategy. Ask anyone who’s dealt with marketing analytics, (which in most cases is Google Analytics), a bounce rate is a very scary number. Since it’s ideal for a website to have a low bounce rate, the higher that number goes, the scarier it is. It’s literally the number that leaps out at you every time you bring up your analytics dashboard.
Being a product manager is a coveted job opportunity among freshly minted graduates and those looking to change careers. And why not? Glassdoor listed it among the top five jobs in the United States for 2020.
Why is the product manager role so hot? This career offers high-job satisfaction, compensation, and job growth.
The best part is that while salaries in this space start at around $60,000 per year, they can skyrocket to nearly $200,000 per year, depending on location, experience, expertise, and scarcity of skill, reports Glassdoor.
Imagine you’re planning a holiday to a beautiful, yet remote location. You’ve reached the nearest city, and you’re ready to make your way to your final destination. Then, you realize that you don’t have the map to get there. And as luck would have it, GPS isn’t working, either.
That’s exactly how it feels if you’re leading a product development project without a product requirement document (PRD).
A PRD is, essentially, a laundry list of product development specifications—including what has to be built, who it’s for, its purpose, and the value it brings to its end-users. It provides a vision of what the final product should accomplish and details all the features and functionalities that will be required to meet those goals.
The clearer a PRD, the better the chances of the final product achieving its desired outcomes. An extremely well-defined PRD may even include preliminary sketches of what the final product may look like, and how its end-users may interact with its functionalities.
The primary advantages of a PRD are that it provides immense clarity to all relevant stakeholders (internal as well as external), ensures the realization of specified goals, and maximizes the chances of everyone being satisfied with the final output.
Not only will you be able to get a head start on the full Growth Product Manager Nanodegree program, available in June, but taking this course will unlock 30% off the price of the full Nanodegree. All progress in this course can be applied towards graduation from the full Growth Product Manager Nanodegree program.
Product managers face a common challenge in the nascent stages of creating a product: finding the ideal methodology. While there’s a wide assortment of methodologies to choose from, each one has its own principles, rules, practices, processes, and pros and cons. And, there’s no such thing as a one-size-fits-all approach.
The Project Management Institute (PMI) defines product management methodology as a “framework that is used to structure, plan, and control the process of developing an information system.”
Think of these methodologies as a series of steps that a product manager needs to execute (with the help of a team, of course ) to design, develop, and test a product toward its successful launch/ release. While it shares a certain degree of overlap with project management, product management is restricted to managing the life cycles of products only – from their birth (ideation/ design phase) to their distribution (market launch/ release).
However, with so many product management methodologies to choose from, how do you cherry-pick the best one for your product? The short answer is — it depends. The right methodology depends entirely on the variables you’re working with – primarily your timelines, flexibility, and budget.
There’s no one-size-fits-all approach, there’s also not just one approach that’ll fit the bill. You may find that a combination of methodologies, such as Agile + Waterfall, may be right for your team.