19 essential product management skills

The phrase ‘product management skills’ refers to a range of core abilities that help people in this career path thrive and create great products. 

These include hard skills, like technical know-how and an understanding of Agile, to soft skills, like empathizing with customers and active listening.

A well-rounded product manager can handle the challenges of app and web development in their stride. And the good news is if you don’t already have these skills, you can learn and develop them. So without further ado, let’s dive in! 

1. Analytical thinking

Product managers need to understand heaps of data, ranging from performance metrics to market trends. KPIs, user acquisition rates, customer lifetime value — all numbers PMs need to crunch. They also need to be savvy with data-heavy tools like Google Analytics, Mixpanel, and Amplitude. 

How to level up

• Sharpen your analytical thinking by practicing with data sets
• Get to know analytics tools and play around with A/B tests
• Learn about common KPI metrics and how to track them
• Use real data to understand user behavior and look for ways to reduce friction points
• Get involved with online courses or workshops that focus on data analysis and product analytics.

2. Communication skills

PMs need to bridge the gap between developers, designers, and executives (including stakeholders). This includes turning data into an understandable, inspiring vision, explaining the reasoning behind decisions, and making sure everyone on the dev team knows what they’re doing.

All forms of communication are important, be it verbal, written, or visual. Writing clear product requirements documents (PRDs), creating great presentations, and leading productive meetings are part of the daily grind. PMs should also be able to listen actively, ask insightful questions, and give constructive feedback.

How to level up

• Boost your skills by learning about and practicing active listening and asking for feedback on your communication style
• Get to grips with common office tools like Zoom, Slack, and email
• Take courses in business communication or join public speaking groups like Toastmasters to build confidence and clarity in your speaking abilities
• Meet up with a writing coach or copywriter to refine your written abilities. 

3. Prioritization skills

Prioritization helps product managers hone in on what’s important while they navigate the product backlog, choose which features to develop next, juggle resources, and keep the team focused on the most urgent tasks. Customer impact, business value, technical feasibility, and strategic alignment are all part of the working day. 

How to level up

• Improve your prioritization skills by using frameworks like the Eisenhower Matrix, MoSCoW (Must have, Should have, Could have, Won’t have), or the Kano Model
• Practice making trade-offs in your daily life and justify your choices to build confidence and clarity in your decision-making process.

4. Strategic thinking

Being able to see the long-term direction of a product, including how it aligns with business goals, is a must. Strategic thinking also means being able to gauge the market, spot opportunities and risks, set clear objectives, and generally balance various needs.

How to level up

• Boost your strategic thinking skills by looking at market trends and studying competitors, and applying that to real or imaginary products
• Use tools like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to evaluate your product and see opportunities 
• Take part in strategic planning sessions and look into mentorship from an experienced product leader
• Commit to continuous learning through books, courses, and industry events to broaden your perspective and stay on top of new trends and strategies
• Practice setting long-term goals and creating detailed plans to hit them, refine them, and adjust based on feedback and changing circumstances.

5. Customer empathy

Understanding customer needs is at the heart of great product design. By empathizing with customers, product managers can figure out their wants and struggles to create more user-friendly creations. 

How to level up

• Boost your customer empathy by interacting with users through interviews, focus groups, and surveys. Or, if you don’t have access to these, reading customer feedback on product sites, forums, and so on.
• Use tools like UserTesting and Typeform to collect feedback and insights
• Create user personas and journey maps to visualize and understand different customer experiences
• Practice active listening in daily life. In work, put yourself in the user’s shoes by using your product as they would
• Encourage your team to adopt a customer-first mindset by sharing user stories and insights during meetings. 

6. Technical acumen

Whether collaborating with engineers or understanding technical constraints, project managers need to know the practical details. Translating complex data for non-technical stakeholders, making decisions about product improvements, and knowing the ins and outs of APIs, data structures and system architecture are all vital. 

How to level up

• Build your technical clout by learning the basics of coding through platforms like Codecademy or freeCodeCamp
• Take part in technical discussions and attend developer meetings to familiarize yourself with technical jargon and processes
• Use project management tools to track development progress and understand workflow intricacies
• Consider taking online courses or certifications in relevant technical areas.

7. Leadership

Product pros need to influence and inspire cross-functional teams with a clear vision, helping them work towards a common goal. They navigate challenges, resolve conflicts, and prioritize. They also lead by example by building trust, creating a culture of accountability, and offering support where needed.

How to level up

• Ask for feedback from your team and peers
• Get to grips with project management tools 
• Take part in leadership training programs or workshops, and read books on leadership principles and practices
• Improve your decision-making skills by practicing structured decision-making techniques like SWOT analysis
• Practice active listening and empathy to understand your team’s needs and concerns
• Reflect on past decisions and consider areas for improvement 
• Practice goal setting, and learn about motivating a team.

8. Business acumen

Product managers bridge the gap between tech nerds and executives, helping the two fuel business growth. For that reason, they need to understand basic business principles. 

This means analyzing customer economics and developing pricing strategies, not to mention understanding a whole wealth of acronyms: Monthly recurring revenue (MRR), customer lifetime value (CLV), profit margins, ROI (Return on Investment), CAC (Customer Acquisition Cost), and LTV (Lifetime Value) to name but a few.

How to level up

• Take finance, marketing, and business strategy courses on platforms like Coursera and LinkedIn Learning
• Stay updated on industry news and trends by reading business journals and reports
• Create financial models and business cases for your product ideas using tools like Excel or Google Sheets
• Seek guidance from experienced business leaders and financial experts.

9. Time management

Good time management means being able to control how you spend your hours to hit those goals. Product managers need to meet deadlines, attend meetings, coordinate tasks, and avoid bottlenecks to keep the project on track, all while balancing long and short-term goals and keeping stakeholders happy. This means less stress, better productivity, and higher quality work.

How to level up

• Boost your time management skills by using project management software to organize and prioritize tasks
• Use techniques like the Pomodoro Technique to stay focused
• Rejig your schedule to factor in changing priorities and make sure you’re using your time well
• Reflect on your daily and weekly activities to spot areas for improvement and streamline your workflow.

10. Negotiation skills

Negotiation means the ability to reach mutually beneficial agreements through discussion and compromise. Whether negotiating deadlines, budgets, or feature sets, being able to find common ground and achieve win-win outcomes is a must for PMs. They need to balance competing interests while securing resources and driving the product forward without unnecessary conflict.

How to level up

• Develop your negotiation skills by practicing active listening and understanding the needs and priorities of all parties involved
• Use techniques like BATNA (Best Alternative to a Negotiated Agreement) to prepare for negotiations and identify your options
• Brush up on your ability to reach a decision as a team
• Take part in in negotiation workshops or online courses to learn different strategies/approaches
• Role-play negotiation scenarios with peers to build confidence and improve your ability to find creative solutions
• Keep a log of your negotiation experiences to reflect on what worked well and what could do with a polish.

11. Problem-solving

Problem-solving is the ability to identify, analyze, and resolve issues. It’s a PM essential, helping managers navigate obstacles like technical glitches and market shifts, while keeping things on track. All of this boosts productivity while minimizing frustration and downtime.

How to level up

• Refine your problem-solving skills by practicing techniques like root cause analysis and brainstorming
• Use frameworks like the Five Whys or Fishbone Diagram to find underlying causes of problems
• Chat with your team to gather diverse perspectives 
• Take on challenging projects that push you to think critically and adaptively
• Reflect on past problems you’ve solved to understand what strategies worked well and why
• Find new and complex situations to build your problem-solving muscle, whether engaging in debates or playing puzzles. 

12. User experience (UX) design skills

User experience (UX) sits at the heart of product design, so as a product manager, knowing the process is a must. Strong know-how in this area helps product managers create intuitive and user-friendly products that customers love. They need to collaborate closely with UX designers to develop wireframes, prototypes, and user flows, all while analyzing user feedback and juggling budget demands.  

How to level up

• Learn the basics of design principles and user-centered design
• Use tools like Sketch, Figma, or Adobe XD to create wireframes and prototypes
• Run usability tests to gather direct feedback from users and identify and spot areas for improvement
• Read books on UX design and stay updated on the latest trends and best practices
• Try design workshops or online courses to deepen your understanding of UX principles.

13. Adaptability

Markets change, as do customer needs — so being able to take these in your stride will come in handy. Adaptability helps product managers pivot and reallocate resources as needed. Staying flexible als means the product remains relevant, even in the face of disruption. 

How to level up

• Embrace a growth mindset and stay curious by learning about new developments and exposing yourself to new ideas
• Ask for feedback from your team and users to find areas for improvement
• Use agile methodologies like Scrum and Kanban to build change management into your projects 
• Attend workshops on change management to learn practical strategies for leading your team 
• Practice flexibility by taking on a range of projects that push you out of your comfort zone and require you to adapt quickly to new challenges. These can be both work-related and non work-related. 

14. Research skills

Product managers need to have their finger on the pulse of market trends and competitor movements, keeping an eye out for weak areas and opportunities for growth. The best product managers are curious and analytical, sifting through lots of data, picking out the best insights and applying those to the product strategy. 

How to level up

• Choose a market research template and practice running research for a test product
• Use tools like Google Trends, SEMrush, and competitive analysis frameworks
• Read review industry reports and whitepapers to stay on top of market trends
• Run surveys and focus groups to gather direct feedback.

15. Agile and scrum knowledge 

Product managers should know how to plan sprints, hold daily stand-ups, manage backlogs, and conduct sprint reviews and retrospectives to keep the development process efficient and customer-focused. By mastering Agile and Scrum, product managers can accommodate changes, and keep the team on track.

How to level up

• Take courses on Agile and Scrum from platforms like Coursera, where you can find offerings from Google, Microsoft, and other reputable companies
• Use project management tools to manage your agile projects
• Join Agile communities or attend meetups to share experiences and learn best practices
• Review your Agile processes based on team feedback and project outcomes.

16. Understanding of go-to-market

Go-to-market (GTM) strategy involves moving a product from development to market to wider uptake. A well-done GTM strategy raises your chances of a successful product launch. This includes everything from market analysis and positioning to sales enablement and marketing campaigns. Product managers with strong GTM skills drive product awareness and take-up. 

How to level up

• Build your GTM strategy skills by studying successful product launches and understanding the key components of a GTM plan
• Use templates and frameworks to structure your approach
• Collaborate closely with marketing and sales teams to align on goals and tactics
• Take courses on product marketing and launch strategies from platforms like LinkedIn Learning
• Regularly review and adjust your GTM strategy based on market feedback and performance metrics.

17. Design thinking

Design thinking is a human-centered approach to product creation. It’s all about Design thinking is a human-centered approach to product creation. It’s all about understanding user needs, challenging assumptions, and redefining problems to identify alternative solutions. By focusing on empathy, ideation, prototyping, and testing, product managers can accurately locate user pain points and develop customer-centric solutions that boost their happiness with the product.

How to level up

• Get started with learning the basics of design thinking through courses on platforms like Coursera or Udemy
• Practice by working on design thinking projects, either in your current role or through side projects
• Use techniques like empathy mapping, journey mapping, and brainstorming to generate and refine ideas
• Engage with users to test and iterate on your prototypes.

18. Emotional intelligence

Emotional intelligence (EQ) is the ability to understand and manage your own and others’ emotions. As you can imagine, it’s highly useful in business — but especially so for those who act as go-betweens for teams with different priorities. 

High EQ helps product managers connect with their team members, understand their motivations and concerns, and foster a positive work environment. It also helps them build trust, navigate complex interpersonal dynamics, inspire their teams, make empathetic decisions, and communicate effectively.

How to level up

• Develop your emotional intelligence by practicing self-awareness and mindfulness
• Reflect on your emotional responses and seek feedback to understand how you come accross
• Read books and take courses on emotional intelligence
• Practice active listening and empathy in your daily interactions
• Engage in activities like meditation or journaling to enhance your emotional regulation skills.

19. Project management skills

Last but not least, product managers need to have their project manager hat on at all times. Organizing tasks, juggling deadlines, and keeping an eye on budgets are all daily concerns. 

The best product managers are adept at coordinating tasks and timelines, keeping the development process ticking along smoothly while addressing risks promptly. This keeps everyone on track to hit their goals. Understanding deadlines, metrics, project management tools, and product plans is essential.

How to level up

• Improve your project management skills by using tools to track your progress
• Take courses in project management methodologies, e.g. PMP (Project Management Professional) or PRINCE2 (Projects IN Controlled Environments)
• Practice setting clear goals, defining milestones, and regularly reviewing project progress
• Engage with your team to gather feedback and pivot as needed.

Backlog was made for product managers

No matter how good your skillset, overseeing product design is a difficult gig. So let product management software take the strain. 

From Kanban boards to burndown charts, Backlog has everything you need to facilitate speedy product delivery. Everyone on the team can log in, check progress, tick off tasks and more without worrying about outdated versions or missing info. Plus, with analytics and reporting built in, busy managers can analyze data and improve their processes and products every step of the way. Ready to give it a try?