Why Should Every Product Manager Read Crossing the Chasm?

Why Should Every Product Manager Read Crossing the Chasm?

Product managers of software products have many prospective tools to consider and some essential ones that have to be in their toolbox. These include understanding product management methods, team leadership abilities, creating product roadmaps, managing portfolios, implementing Lean Startup, performing Customer Discovery, managing development with SCRUM, and much more.

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The Role of Software Product Manager

It takes time to advance to the position of software product manager. Shifting from software developer to project manager to product manager is a popular career path. Many organizations employ project managers. They are in charge of successfully managing a project, a short-term endeavor to create a product or service, such as developing a software module or release. Managing a team, creating plans, controlling plan execution, and creating accountability for results are useful skills.

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Project managers usually interact with the development team and a few relevant stakeholders, including the project's funding source.

They typically have a moderate level of responsibility and little authority. Their accountability is limited to the goals of the temporary endeavor.

In comparison, product managers have a larger wide discretion than project managers and need to work all across functions of the organization – marketing, sales, allocation, support, etc. Product managers benefit by having business acumen and understanding business concepts, such as vision, strategic plan, marketing strategies, etc. They are much more likely to get both responsibility and authority, which expands beyond completing the product, such as meeting revenue expectations.

The term comes from "Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers" by Geoffrey Moore.

The chasm persists because after a definite point of selling a product to early adopters, the sharp increase plateau whether the next stage of growth is to sell the products to the masses. In the book, Moore argues that its fundamental issue businessmen and product managers confront when attempting to cross the chasm is the simple truth that while early adopters are okay with incomplete characteristics and early-stage technologies overall, the early majority is reasonable and will only recognize the product once this solves a current issue they face.

The product design has to be practical progress to what they do, rather than simply promises future ROI potential.

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Moore sees four fundamental aspects of idealists that alienate the next market's purchasers, the pragmatists:

● lack of appreciation for the value of sector or colleagues' experiences

● taking a greater passion for technology than in their industry

● failing to understand the importance of current Product design infrastructure

● overall disruptiveness

These distinctions demand that you market and sell to such two types of clients in very separate ways.

It is pointed out that to cross the chasm successfully, a succession of strategies must be implemented.

1. Determine the point of attack: Divide the market into target niches and focus on one at a time. Dominate target niches and rise to the top of the market. Begin to expand into adjacent niches.

2. Gather the invasion force: Create a comprehensive product concept and surround yourself with partners.

3. Define the battle: Construct the opposition and position your product.

4. Begin the invasion: Create a sales marketing strategy and pricing.

How would you cross the chasm?

Here are three steps that will assist you in bridging the gap between early adopters and the mainstream market.

1. Redefine Your Customers' Requirements

What you did to attract early adopters is not the same as what you need to attract the mainstream. There are few similarities between these two groups.

2. Promote Word-of-Mouth

While most early adopters probably found you while looking for something new, the mainstream expects you to seek them out. The problem is that the mainstream is based on high-end references from other user experiences.

3. Select the Appropriate Niche

It would help if you targeted a niche to move your innovation into the mainstream successfully. While numerous approaches exist, finding one with a significant pain point and a high economic value is your best bet.

Furthermore, it is critical to recognize that the transition from early adopters to the mainstream is not easy with any innovation. If you want to be successful in the future, you must drastically alter what made you successful in the past. The ability to reconcile these two points of view is critical.