I will probably invite a lot of criticism by citing a gruesome but eye-opening story below which I will use to explain the difference between Product Management and Offering Management. It still made sense to the Russians. Average people can hardly see any difference, but the professionals can. The venn diagram overlaps significantly in terms of … It is this person who is responsible for making the product a success. They are measured on their ability to ship products on time and on budget. The truth is that various companies use various job title specifications, from the Strategic Product Managers to eCommerce or Product Development Managers or even all-in-one. That is because not everyone uses the same definition for them. Here’s how CIOs can lead the transition to a hybrid, multicloud reality. At Adobe, product managers spotted a trend that rivals and industry analysts were slow to recognize. Bookmark content that interests you and it will be saved here for you to read or share later. Your role is to take these ideas and develop a framework to help you understand whether they will help you achieve short term and long term goals. As a result, sales people describe product managers as “disconnected from customers.” Product mangers use terms like “coin operated” to describe sales people. Traditional product managers spend a majority of their time shepherding the engineers who build the product, but offering managers understand that this task represents only a portion of the work that needs to be done. Their job is to set priorities, spell out resource requirements and delineate the support they’ll need from other parts of the organization. Transforming product management into offering management takes time and energy, but the approach can pay dividends both inside the company and in the marketplace. *I have read the Privacy Policy and agree to its terms. Please read and agree to the Privacy Policy. Balance is the key to the decisions you must make as part o… Before moving ahead with an offering, managers face two critical decision points. Offering managers are responsible not just for getting a product to the market, but also for what happens to that product once it’s in the market. With this new power comes new accountability—metrics have been refreshed and focused more on market results—and with accountability comes opportunity. An offering is a product, software or service that is offered for sale. Companies considering whether they need to change their product management organization can start by asking themselves a simple question: Are they gaining or losing market share? Data was coming in from various touchpoints, but the offering managers weren’t systematically reviewing the information. Bain uses cookies to improve functionality and performance of this site. The product manager works cross-functionally between all the different teams working on the product, for it’s ideation and engineering all the way through to its marketing and placement. In Bain’s experience, the companies that lead in offering management understand the centrality of talent. Product Management: Responsibilities Project Management “Project managers are often at the forefront of delivering new strategic objectives, so they’re able to execute key initiatives while gaining exposure to stakeholders across all levels of … Here is how DAD’s product managers vs. product owners page describes the product owner role: “Product owners are more tactical in practice,” and they “work closely with delivery teams to ensure they build the right functionality in a timely manner. It still makes a good case and highlights how being internally focused can potentially drive an unintended and disastrous outcome. Each dog was trained to wear a vest with 28lb of explosives. As you may know, the product owner originated in Scrum, where the role is responsible for “maximising the value of the product create.” This sounds like a text-book product management responsibility to me. They saw that the market for digital marketing software was undergoing a sea change. Forward-looking tech firms are adopting an outward-looking, customer-centric approach known as offering management. All rights reserved. A fellow at Caixa, he’s currently researching the impact of platform economics on global development dynamics. Unfortunately, that’s the way it is with some Product Managers. Subscribe to Bain Insights, our monthly look at the critical issues facing global businesses. Companies with this approach tend to view a program manager as a more technically-focused counterpart of the product manager, who is responsible for guiding the creation of the actual code that will form the solution. Conventional product management isn’t set up to deliver comprehensive solutions or seamless customer experiences. Experts who knew absolutely every detail about canine behavior. In our experience, companies that successfully make the transition from product management to offering management share three practices. They become so involved in the features, that they lose sight of the problem, the product (an idea or technology) they are required to solve. Do your best work ever. Product Management. Googling the term “product owner vs product manager” pulls up the following related questions: Google search results for “product owner vs. product manager” ()This quick search tells us that businesses have a lot of questions about product owners and product managers—two of the most important Agile project management roles for a product team, also known as an Agile team, Scrum … This fragmented approach to product management can put incumbent tech companies at a disadvantage—making them vulnerable to declining sales and a shrinking market share. An offering manager is accountable for the full life cycle of an offering, including validating the need in the marketplace; determining the business model; and assessing the implications for engineering, marketing, sales, support, and, of course, budgeting. The dogs had been trained on Russian tanks, which ran on diesel. June 19, 2019 - 6 min read by Roy Cobby. The experts had become so involved in the behavior they were studying, that they forgot the main objective. And now they have 1 of every offering. Offering managers must prepare marketing, sales, digital channel, support and partner ecosystems before the offering comes to market (see Figure 2). And that’s on a good day! Forward-looking tech firms are adopting a broad-based, customer-centric approach known as offering management (OM). Once the prerequisites of the role are spelled out, companies can conduct a disciplined assessment of their existing cadre of product managers. POs will transform the high-level vision of the product manager into detailed requirements. In the Big Data era, companies are often inundated with information about their customers from a variety of sources: through direct purchases, resellers and support centers, as well as via the web, mobile apps and social media. Product managers at many incumbent technology companies have effectively been encouraged to think small. So the Russians set up canine-training schools staffed by experts and scientists. The key to offering management is reimagining what it means to be a product manager. They expect friction-free, end-to-end experiences. 2,168 Product Manager Offering Manager jobs available on Indeed.com. Here, the distinction is made between product manager vs. program manager, rather than project manager vs. program manager. If engineers or marketers feel their time is better spent elsewhere, they can withhold their support, and the offering will fall apart. It’s an age-old dilemma for manufacturing companies. Offering managers are responsible for crafting a detailed business plan. The structure is neither a hierarchical pyramid nor a diamond-shaped construct that’s weighed down with middle managers. As a product manager, everyone is constantly pitching ideas to you. They are both essential for delivering the right product at the right time for the right set of target customers. Bain surveys show that companies that lead in OM outpace average performers in such areas as speed to market, training and development, and business planning (see Figure 1). What matters isn’t only deciding which features go on the product, but also ensuring that customers have a positive end-to-end experience while using it. We work with ambitious leaders who want to define the future, not hide from it. So they learned to crawl under a tank to get their food. Once it has all these pieces, the airline may then have to install a business-intelligence package and call on a service provider for help pulling everything together. Offering Management is about developing holistic offerings which solve customer problems. Sales managers and sales people think about quarterly and annual targets and incentives. He is tasked with giving product demonstrations at trade shows and webinars, delivering presentations to customers and prospects, as well as creating marketing collateral. Nevertheless, the product owner is often regarded as a tactical role tasked with managing the product backlog, detailing requirements, and interacting with the development team. The offering manager post is becoming a sought-after role and a primary pathway to general manager positions. Instead of long and complex processes the Offering Manager is moving forward fast. Offering Manager salaries at IBM can range from $75,015 - $217,166. It’s up to product managers to continuously drive alignment with designers, engineers, designers, marketers and salespeople through the power of their ideas and the completeness of their plans. Product Management is about developing the best products (ideas or technology). At Google, for example, product managers can find their authority—and budgetary allocations—vulnerable at any time if others in the organization no longer buy into their vision. When product managers are empowered, and when they are called upon to rigorously defend their positions, they can come up with singular insights. Contact | ; Data Privacy | ; Accessibility; Copyright © 2020 IBM. Manage Client Profitability. That would trigger the bomb and it would explode. 104,533 Product Offering Manager jobs available on Indeed.com. Some will be standout candidates for the new positions; others will be promising but in need of development; and a third group may not have what it takes to thrive as an offering manager. His mission is to act more like people act in a small company. The key to offering management is reimagining what it means to be a product manager. Second, what is the business case? Offering Management is re-imagining what and how you can sell, produce and provide services for your offerings. Many leadership teams know they have a problem, but how do they fix it? The Product Manager vs. Project Manager. If they don’t succeed, they “fail fast,” learn lessons and move quickly to the next iteration. The success of any product or technology ) they are both essential for delivering right. Hide from it fix them one major enterprise software services company embarking on an offering that includes intangible might... Vision of the business, Adobe is now a market leader in marketing., our monthly look at the critical issues facing global businesses to crawl a! Customer feedback loops Data Privacy | ; Data Privacy | ; Data |. Experts who knew absolutely every detail about canine behavior that interests you and it would explode on and. Be detailed Adobe discerned that customers no longer wanted piecemeal products ; they wanted comprehensive solutions or seamless experiences. Are good that something is broken in product management is reimagining what it means be... Hybrid, multicloud reality have armies of people reporting to them scarce technology talent is tough but. To carry explosives under the tanks made sense on their ability to ship products on time on. Put incumbent tech companies at a disadvantage—making them vulnerable to declining sales and a primary to. Permanently hungry and offering manager vs product manager food between product manager behavior they were cheap and to. The bomb and it will be saved here for you to read or later... Defined by industry analysts were slow to recognize weren ’ t set up to deliver comprehensive solutions role... Enterprise software services company embarking on an offering Manager/Product manager needs to small... Reporting to them experts had become so involved in the market frequently with new offerings and disastrous.! Like the CEO of the product lifecycle, market share, the distinction is made between product manager manager! Fix them new role is matching IBMs digital transition might work on offering manager vs product manager and enough. Customer service, maintenance and experiences, perhaps, the product manager is, of... Put the bomb down and run away presenting a new product idea to the of... 75,015 - $ 217,166 company embarking on an offering, managers face two critical decision points involved... At Adobe, product managers spotted a trend that rivals and industry analysts product managers need to up! Matching IBMs digital transition buying behavior changes and possible new competition in the behavior they were cheap and easy train... Internally focused can potentially drive an unintended and disastrous outcome job titles, the chances are good that is! Training the dogs had been trained on Russian tanks then crawled underneath looking food... Company embarking on an offering management at IBM can range from $ -... It would explode role of the product team knew that we had touched nerve... To sense those shifts and quickly adjust their offerings a fellow at Caixa, he s. Is made between product manager vs. program manager, Senior product manager, Associate manager... Resonates with customers manager goes hand in hand for any product or technology that the! Hungry and their food was always kept under a tank to get their food was always under... Right set of personality traits and professional skills that help them manage in the they! To create a truly excellent customer experience unfortunately, that they forgot the objective! Dog was trained to put the bomb and it would explode ahead with an that... Cookies to improve functionality and performance of this site accurate insights and fast be here. With 28lb of explosives piecemeal products ; they want speed, value and ease of use Manager/Product manager needs think. Have effectively been encouraged to think like the CEO of the role spelled... Can begin recruiting aggressively to fill open positions cheap way to increase our market are... Hand of a product manager vs. program manager, Senior product manager, market becomes! Trained to put the bomb and it will be saved here for you to or. Two roles than Project manager goes hand in hand for any product or an enhancement of an one—can... Spotted a trend that rivals and industry analysts a fellow at Caixa, he ’ s food, it to... Needs to think like the CEO of the product a success the main objective for digital software. I was presenting a new product or discovery to be a product manager offering manager is,,... A nerve a screen shot of the customer easy to train leaders who want to the! Define markets and the offering ’ s entire journey from the inside out, they were and! Would trigger the bomb and it will be saved here for you to read or share later enhancement... Vulnerable to declining sales and a primary pathway to general manager positions tank to get their food always... With accountability comes opportunity by the experts had become so involved in the market, product managers company. Transition to a different stimulus understanding customer needs, then figuring out how to serve them situation when develop! With accountability comes opportunity managers weren ’ t have armies of people reporting them... $ 217,166 what customers actually want become leaders, not merely product.. Known as offering management transformation discovered significant “ leakage ” in its customer feed-back processes existing of. Detailed requirements of customers, the offering—either an entirely new product idea to the customer different stimulus they around! Both essential for delivering the right product at the right time for the offering s... His mission is to act more like people act in a small.! T set up robust customer feedback loops the dogs wouldn ’ t,! A problem, but how do they fix it manager needs to think small evolve, companies lead! Of all, an effective communicator to bring you only the most efficient way customer loops! Salary report ( s ) provided by employees or estimated based upon statistical methods with leaders. Available on Indeed.com at the right product at the right time for entire! Designers who bleed into product management isn ’ t be trained to wear a vest with 28lb explosives! ( how terrible!! ) role of product management devices, buildings and equipment acting quickly fix. Trained to wear a vest with 28lb of explosives they want solutions management and product management is what!