Technical product managers are professionals responsible for a company’s product and strategy organization. Their job is to develop innovative ideas based on customer insights to drive the company’s products forward and increase the profitability of existing products. They apply their knowledge of the customers’ needs and the company’s corporate strategy to develop new strategies for developing the company’s products.
Technical product managers supervise the entire product line lifecycle, from the strategic planning stage to product release. They are also responsible for developing a company-wide marketing strategy and work closely with heads of other departments to implement it.
Technical product managers must have an advanced knowledge of both business and technology, as well as of product development and strategic planning. They must know how to maximize business value from a product and how to make the product more valuable to customers.
Strong communication and leadership skills are a must, as this is a management role, one that requires frequent communication with all areas of the company. Teamwork skills are also very important, as technical product managers typically work closely with heads of various departments within their company. They also work with the company’s key customers, which makes client-facing skills essential to the position.
The role often requires travel to customer and non-customer sites, so a degree of mobility is usually required.
Technical product managers usually have a degree in engineering, computer science, or a related technical discipline. Most employers look to hire candidates with at least two years of experience in product development in a relevant industry.
Technical product managers’ daily duties will vary from job to job and from one industry to the next, but their work typically entails meeting with engineers to determine product release requirements, working closely with sales and marketing professionals to define the marketing strategy for various products, and meeting with business analysts and other specialists to understand what the target customers’ needs are, to learn about the key benefits of the product, and to collect all the data necessary to understand the product positioning.
Technical product managers are responsible for developing pricing modules and managing any changes in product pricing. They conduct market research in order to specify market requirements for the company’s existing and future products, visit the key clients to discuss the products, and work to identify potential partner relationships for any given product. They monitor and analyse market trends, research competitors’ products and services, and work on finding ways to improve the company’s current line of products. They meet with the management team leading product development to make sure that product requirements are understood, and respond to all enquiries related to the product.
Technical product managers are also responsible for managing product contracts, providing the technical sales team with the necessary knowledge to help them market the product, and for finding creative new product solutions and presenting them to senior management and customers. They also act as liaisons between the development, service and marketing teams prior to product release.
Image Credit: New Media Expo
Related: Technical Product Manager Salary