6 Ways To Avoid Bias In Product Management

Product management involves processes that guide a product’s lifecycle, from planning and development to launching and beyond. It is a complex project with different stages, requiring strategic decision-making to be successful. Therefore, as a product manager, you must handle product management based on facts and objectively to be successful. This can sometimes be tricky, especially if you have inherent knowledge and experience alone. This bias could lead to close-mindedness and rushed decisions.

Unfortunately, you may end up with poorly made products that do not meet desired objectives. A Fuld & Company research also suggests that bias can be a bigger threat than your competition. Below are some tips to avoid it.

1. Assess your product at various times

As time goes on, information evolves and changes, and it is the same with products. After launching, you may realize that your consumer preferences have changed, industry standards have improved, etc. Leaving things the same may cause you to run at a loss. Therefore, assessment and evaluation will become necessary. Especially in the current fast-paced environment, you may not need to wait years to assess your product. Fortunately, you can use tools like the maxdiff analysis to obtain useful information, such as preferences on product features, for your research.

2. Follow benchmarks and standards

Defining success can be difficult, particularly in product management, since every business may express it differently. However, following a predetermined standard can enable you to measure your product against the market alternatives. Try to adhere to these standards whenever feasible because they are generally acknowledged, and many users are familiar with them. Utilizing benchmarks and standards in your product management can also offer constant reassurance that your product is on the right track and assist you in making the necessary adjustments as soon as possible if you’re not.

3. Involve others in processes

If you’re an entrepreneur, product management might appear to be a lonely path since you are the only one focused on the outcome of a certain product or feature. Incorporating other perspectives in your decision-making process increases confidence that it is sound and not based just on your personal bias. However, this does not imply turning product strategy into a democracy where everybody gets a say. It doesn’t also imply that you only discuss issues with stakeholders you see as equals. Every contribution is an additional viewpoint and perspective derived from a mix of data and experience. Many of these views may be founded on irrelevant or old experiences and unsupported facts and this is why standards are important.

4. Make decisions based on data

Another useful technique for reducing bias is to base your decision on data. This means determining what you already know and going out there to fish the rest. You can use several mediums to strengthen your decision-making, including research, surveys, interviews, and so on. For instance, the data you acquire via these mediums may justify why you should choose certain features and the right pricing. They can also serve as a valuable persuasion tool to get others to agree with you. Regarding product management, it is always best to argue based on concrete data from legitimate sources.

5. Check in early and frequently with your customers

Your customers can be a fantastic resource to constantly bounce off ideas. This doesn’t suggest picking up your phone and calling your customers every time about their preferred product features. There are several opportunities to use customers as a quick resource for acquiring feedback. Once you’ve worked out enough about a new feature or modification to convey it clearly, you can test it on a few valued and invested customers to see their responses.

6. Use experience as an asset

There is a lot of talk about how and why you should resist the temptation to allow experience bias to impact your decisions on product management. However, avoid downplaying how valuable an asset your experience can be. Your experiences shape your ethics and make you an important asset to your organization. However, by employing the above strategies, you can demonstrate that you are not entirely basing your approach only on the experience you have accrued over the years. Ensure that it is only one of a few factors you consider for your product’s future.

Bias is likely to present in every business, whether big or small. As you work to establish your product firmly in the market, it is critical that you are aware of the disadvantages bias brings This way, you can put measures in place to avoid it