HomeBUSINESSLearnings From The COVID-19 Crisis: Recommendations For Product or Service Managers

Learnings From The COVID-19 Crisis: Recommendations For Product or Service Managers

Nobody knows how it will come out after this crisis caused by COVID-19, but recommendations will have to be applied to Product or Service Managers based on the learning and new circumstances raised with the appearance of this pandemic.

Once we continue working (always at the bottom of the barrel …) so that the companies that trust us can continue developing their projects, and without stopping to define or implement a new business model, either within an already established company or A startup has been aware that, until a few weeks ago, the management of products or services has undergone several relevant changes that, as soon as possible, it is necessary to recognize.

Next, a series of trends has been compiled that have been collected in different blogs, comments, and webinars that have proliferated so much in recent days. Some of them are mere claims because it is not yet known how this type of process will influence the behavior of customers and users, nor how this type of process will affect some brands and strategies.

Ideas to keep in mind

Although risky, the most probable are identified:

  • Possibility of enjoying the experience, both physically and online: Before, when you were working on the habits of new customers, users or technical specifiers, or of any other type, you thought about a way to carry out the conversion process, as well as the customer journey. In some cases, some points could only be done physically or online. Right now, with the existing circumstances, one should think about performing and being able to enjoy the service both physically and digitally. It is applying what in some cases is called omnichannel experience.
  • Eliminate possible bureaucratic actions: If you are working on services that require intermediate validation, assess them in the most objective way possible and validate their usefulness, since it has been shown that these actions can delay the provision of the service or the purchase of some type of product.
  • Monitor the supply chain: If the supply chain is understood as the process from when unprocessed materials are sent to production until the product (especially physical) reaches the customer. This aspect is a bit of the dark side of product management (many managers do not care about this point) and it has become one of the main workhorses when situations are different and relevant events are precipitated. The only way to know what is happening, the only way to improve, is to measure as much as possible in such a way that it is managed.
  • Understand the supply process to deal with stressful situations: Understand the risks that may occur to our service, whether it is physical or digital (watch out for technology infrastructure providers), to understand and manage these situations. Many product managers consider themselves safe with contracts with ANS or (SLAs), but you may need to think about replications of specific infrastructure or emergency providers.
  • Optimize as many processes in the back office: At this point, the actions to be taken in the processes within the organization should be assessed to optimize the services to be provided and that are relevant to customers, adding value to them. Digitization and automation are the very relevant lever for this optimization process.
  • Management of demand peaks: Many operation proposals have been applied, such as LEAN methodologies or 0 stock proposals, but perhaps it is necessary to monitor and have an emergency solution for cases of possible risks and address them to provide service in peak demand. This does not mean having a huge stock, with the financial burden that it entails, but it does mean having some kind of proposal for cases of unexpected peaks.
  • Try to think of profit models not only economic but also environmental and social: Now more than ever, a collaboration between actors is endorsing solutions and proposals that not only seek economic benefit but also a positive impact on society and that are beneficial to the environment.

As mentioned, many of them are not different proposals from those made before this period of crisis, but which, after it, have become key pieces to keep in mind when products or services are launched on the market.

Also Read: Guidelines For Effective Leadership In Teleworking

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