Being a Product Manager (PM) is a bit like being a circus performer—except instead of juggling flaming torches, you’re juggling stakeholders. Each one has their own needs, opinions, and goals, and it’s your job to keep them all happy while still moving your product forward. Sounds tricky? It can be, but with the right approach, you can keep everything (and everyone) in balance.
Let’s talk about how product managers deal with the different types of stakeholders they encounter on a daily basis and how to make sure everyone’s on board with your product vision.
1. Internal Stakeholders: Your Core Team
Your internal stakeholders are your day-to-day crew—the developers, designers, marketers, and salespeople who help build and launch your product. These are the folks you interact with the most, and their buy-in is crucial for getting things done.
How to Deal with Them:
- Be Clear with Priorities: Your team needs to know which features are the most important, and what can wait. This is where your product roadmap comes into play. Be clear about the order of priorities and explain why certain features are getting attention.
- Foster Collaboration: Make sure everyone is working together. Developers need to know what designers are planning, and marketers need to understand what’s being built. Regular check-ins, like daily standups or sprint planning, keep everyone aligned.
- Listen to Feedback: Your core team is on the front lines—they know the technical limitations, user pain points, and market trends. Listen to their input and be willing to adjust plans when necessary.
2. Leadership and Executives: The Big Decision-Makers
These are the high-power stakeholders who are less involved in the day-to-day but hold a lot of influence over the product’s future. This includes your CEO, VP of Product, or any other senior leaders in the company.
How to Deal with Them:
- Speak Their Language: Executives care about the big picture—revenue growth, market expansion, and customer satisfaction. Frame your updates in terms of business impact. Show how a new feature will drive user engagement or boost sales, and back it up with data.
- Keep It High-Level: They don’t need to know every little detail about the product’s development. Focus on key metrics, milestones, and strategic goals. Keep your communication concise and to the point.
- Show Progress: Executives like to see results. Use product demos or presentations to show how far the product has come, what’s been accomplished, and what’s coming next.
3. Customers and Users: The People You’re Building For
At the end of the day, your product is for users—the people who will be interacting with your product daily. Whether they’re consumers, businesses, or a specific niche group, keeping them happy is the ultimate goal.
How to Deal with Them:
- Listen to Their Pain Points: Gather feedback through surveys, interviews, or usability tests. Understand what’s frustrating users and what they want more of. As a PM, you need to be the voice of the customer within your organization.
- Manage Expectations: Sometimes users want every feature under the sun, but you need to manage expectations. Be clear about what’s possible in the short term and explain the long-term vision of the product.
- Iterate Quickly: Users love to see that their feedback matters. If you can quickly roll out improvements based on user input, they’ll be more engaged and loyal to your product.
4. External Stakeholders: Partners and Investors
External stakeholders, like partners or investors, are often financially or strategically invested in your product’s success. They may not be as hands-on as other stakeholders, but they definitely care about how things are going.
How to Deal with Them:
- Provide Regular Updates: These stakeholders want to know if their investment is paying off or if their partnership is fruitful. Regular reports on key metrics—like customer acquisition, growth, and retention—keep them in the loop.
- Highlight Wins and Progress: Celebrate the product’s successes, whether it’s hitting a major milestone or launching a new feature. Show them that their investment or partnership is yielding results.
- Be Transparent About Challenges: Don’t shy away from talking about the challenges or roadblocks you’re facing. External stakeholders appreciate honesty and will likely respect your ability to navigate difficult situations.
Final Thoughts
Handling stakeholders as a product manager is all about balancing priorities and making sure everyone feels heard and valued. Whether you’re managing internal teams, keeping executives informed, or gathering feedback from users, the key is clear communication and aligning everyone with the product’s goals. By staying transparent, listening to feedback, and focusing on the bigger picture, you’ll be able to keep all your stakeholders happy—and keep your product moving forward!
