Product Management In B2B And B2C, What Is The Difference?

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Product Management In B2B And B2C

Product Managers need to focus on developing the scope, providing ideas for new functionality, interacting with the internal team, and managing the product throughout its life cycle. The prospect of becoming a Product Manager is appealing.

But, before checking Product Manager resume tips, you need to be aware that product managers in B2B and B2C environments have a different approach and role in the business.

Differences Between Product Management in B2C and B2B Environment

Differences Between Product Management in B2C and B2B Environment 

1. Users vs Clients  

As modern businesses are getting more competitive, you need to be closer to the people who receive your services.

In B2C, product managers can not reach every end-user individually and ask them for their opinion, and the end product they want. B2B, on the other hand, has specialized people in the form of sales and support teams who constantly monitor and inform of any changes or needs of the clients, which makes the information flow more fluid.

B2C is deeply rooted in analytical reasoning to create a goal and vision by consulting with the development team. B2B product managers have to understand the client requirements, develop a solution, and convince the entire team to change focus and make necessary adjustments. Hence, due to constant updates, Scrum is an unavoidable necessity for B2B product managers.

2. Focus And Responsibility 

The assessment of a Product Manager deals with conversions and the success of new features of the product. The revenue generated depends on the decisions of the Product Manager since there is no sales team.

Hence, a B2C Product Manager needs to have business knowledge with a focus on growth at all times.

In the B2B model, product managers support the sales team to achieve sales and usage. The Product Manager needs to realize new goals, convey it to the team, and develop a game plan. It requires a team of designers and developers that can quickly change focus, along with good communication between the team.

3. Approach To The User 

In B2C, it is impossible to approach customers on a one-on-one basis. Hence product managers use A/B testing with collective clustered data, which includes feedback from customers. If a user stops using the product in a B2C business, the Product Manager will not be as worried, since he looks at the bigger picture.

When it comes to B2B, the value of relationships is very important, and often to acquire a single user, product managers, and the sales team expend many resources. The team also pays close attention to every demand of these clients because losing one client can adversely affect the business. The product managers in B2B need to be quick thinkers and good negotiators, making sure the company does not fall in the trap of a bad deal.

4. Money And Time 

B2B companies earn more revenue per user than B2C companies.

B2B companies need to fix priorities depending on sales and revenue. For every new feature, there is a huge loss in terms of time and money. The Product Manager needs to manage user needs and map out the new features across the entire team for quick development and deployment.

B2C companies do not have to pay attention to every consumer, and usually, product features are already discussed early on from collective data. With very little adjustments and the new features decided in the beginning stage by the Product Manager, B2C Companies have plenty of time to complete their projects.

5. Functionality vs Design 

B2B product managers do not have time to think about visual design but focus more on the functionality and the interactive design of the product. In any case, support teams can always help clients to make the product user friendly. In most cases, B2B product managers need to create customized products for different clients.

B2C companies need to focus on both the functionality and overall design of the product. The product needs to be user friendly, and the design should be visually appealing to gain the attention of customers. In B2C, products are normally made for consumers with little changes.

6. Technical Knowledge  

B2C product managers rely on data to convert sales, and hence do not require to communicate a lot with the tech team. Thus, B2C product managers can have technical skills, although it is not mandatory.

However, the B2B Product Manager needs to be an expert in technical knowledge to understand what the user wants to convey. S/he also needs to convince the internal team. Hence, s/he needs to have a clear idea of the technology and the industry terminology across various channels.

While the Product Manager in both B2B and B2C have different skillsets and follow different paths, the result of their goal is to deliver value through their product.

How To Become A Product Manager

If the prospect of leading the innovation of a product excites you, and you want to manage the product throughout its life cycle, the job as a Product Manager is right for you. As a Product Manager, you stand at a position of authority and responsibility.

How To Become A Product Manager 

According to Indeed, the average annual salary for a Product Manager is $ 100,620, excluding a cash bonus of $8,000 per year. Since the job of a Product Manager is highly sought after by people, you need to create a resume that is specific to the job role and the organization. You can apply for the job of a Product Manager by creating an attractive resume.

As a Product Manager, there are various roles available to you. If you are interested in marketing, you can check product marketing manager resume examples to help you out, since they are a bit different from the traditional Product Manager role.

Conclusion

The responsibilities of a Product Manager include analyzing possible modifications, convincing the entire team involved in the creation of a product, monitoring progress, managing the team, as well as adapting to changes and creating an action plan.

B2B environment and B2C environment require product managers to think and act differently. In B2C, the Product Manager needs to focus on data to create new features for the new product, whereas in B2B the sales and support team help in the product development with direct interaction from the client. In any case, you will require a solid resume to land a good job as a Product Manager.

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