Research reveals that there is a growing need for and interest in product managers and management because they are obtaining some of the highest salary offers in SaaS. There is a ton of possibility for professional progression in this industry—many of the CEOs of some of the biggest software companies have backgrounds in product management. Product managers are proving to be extremely valuable in the tech and SaaS industry due to their responsibility for "delivering the correct products for clients," in the words of Mercer. This means that they oversee figuring out how to develop a product that not only their customers enjoy, but also SOLVES their problems. Being a product manager, much less an amazing one, is unquestionably no simple task at all.

You must distinguish yourself from the competition in this cutthroat business by aiming to be one of the top 1% of product managers. To do this, hone and develop the abilities we've already highlighted, and never stop learning. One of the professions that necessitates ongoing learning and development is product management. To keep up with and stay ahead of shifting consumer needs and demands, you'll need to continuously improve your skills. It's a difficult job, but if you're a product manager, you obviously enjoy a challenge, otherwise, you wouldn't be in this line of work in the first place.

A lot will change between the product manager of 2020 and the product manager of 2025. More so than the tactical issues that would fall under the purview of the product owner or the product operations job, your role will become more focused on outcomes and strategic planning, and abilities like storytelling, empathy and strategic alignment will become essential to success. Bringing the "voice of the customer" and an "outside-in" perspective to the company will be prioritized more, and product management will increasingly be based on consumer data analytics and insights.

Companies need to rethink the qualities that set excellent product managers apart from the competition, including abilities, roles that must be filled, and team structures. Instead of using a career progression based on the acquisition of new skills or an increase in authority inside the business, far too many firms still merely utilize seniority-based system. The latter strategy has a benefit because it provides a complete picture of the abilities needed to enhance the hiring procedure and team makeup. As a result, businesses might restructure their product management teams to include more specialists with a focused set of abilities as opposed to generalists who try to handle everything.

Both hard and soft skills have been discussed in this blog, and before we wrap up, we would want to leave you with the following comment from Brian Sparker, a PM at G2 - "Soft skills are grossly undervalued in product management. I believe that rather than the management, people usually pay more attention to the product side of things. Having leadership skills makes a good product manager. They put others before themselves, refuse to accept mediocrity, and are prepared to go above and beyond to support their team. The world of SaaS needs you more than ever, so be the company's product manager superhero and continue developing your superpowers."