Product Management is an ever-changing field. Recently we have seen the emergence of the Chief Product Officer or CPO. In this ProductTank London talk, Richard Harrison, Managing Director of Xpertise Recruitment takes us through:
- Trends in product management
- What it takes to be a CPO
- Future of the CPO
Watch the video to see Richard’s talk in full. Or read on for an overview of his key points.
Product Management Trends
Product management is, in fact, a very inclusive profession. According to the current trends in the UK and London, not everyone who holds the role of a product manager went to university. Of those that did go to university, over 60% held non-technical degrees unrelated to STEM. The growth of product management as a career can be attributed to what Richard calls the “attack of the ants”. This refers to the fear many large established companies are feeling as more and more new players and startups enter the markets to disrupt them. One of the ways in which these new players are differentiating themselves from others in the market is through great product people and effective product management.
Becoming a CPO
The role of the Chief Product Officer is different to that of a Chief Technology Officer or Chief Marketing Officer. The CPO needs to be able to balance the technical side of things with the non-technical. CPOs require technical knowledge in their industry, they need to understand the needs of the customer and they need to possess leadership ability. Essentially, the CPO needs to be a mini-CEO to be as effective as possible.
Future of the CPO
The key takeaways from Richard’s talk center around the future of the CPO role and what it means for product management. A CPO needs to understand how to monetize, how to manage, be customer-focused and be able to deliver the product. Few firms have CPOs and many places don’t have the career path. Candidates will need to define the role and build their own path to becoming a CPO. They will need to obsessed with the customer experience and also be an inventor and understand how to build the product.