Product coaches are in high demand because of exceptional rise in new products. Product coaching is an apprentice craft. To understand product management one needs the guidance of product experts.
Some companies do not have expertise in coaching. Also, they lack time due to too much work. The product team requires training in design, marketing, and customer success.
Who can guide companies in product development? Who can fit the role? Yes, product coaches can cater to the need of companies and focus on the product development task.
Companies have ideas that can benefit the market. The product expert aims to get those ideas in the market.
Do you think you fit the role of the product coach? Do you want to know more?
Then let’s get in-depth knowledge about a product coach.
Who is a product coach?
The product team is smart enough to develop product ideas. But, if they are unaware of the market, it becomes tough to get the buyers.
The situation would be more frustrating if the team does not have an idea about what to do next. There are times when a company sells the idea but gets rejected and this demotivates the team.
Companies face questions like:
How to improve the trust of product teams?
What are the ways through which they can achieve great results?
This is the time when a product coach is required. These questions are answered by the product coach. He or she knows the loopholes.
Hence a product coach is someone who deals with product ideas. Product coaches are categorized into product development coach and product management coach.
The product development coach is like support. The objective of such a coach is to create a positive environment. This can make the product team work towards growth and success. A coach also works as a product management coach. In this role, a coach is trying to solve issues before creating a product. He or she is someone who optimizes the strategic product process.
The coach knows the theory behind every project idea. Hence, product coaching helps in adopting best practices. The product mindset is developed among the team. A product coach ensures that newly created products serve the needs of people.
A coach finds the problem and prepares the team for the right approach. The guidance of the coach helps the team in discovering their solution. There are fewer instructions and more motivation.
Hence, a product coach is an integral part of the product delivery model. A talented team requires a great coach to create a successful product.
Why do companies need product coaches?
There are product thinking gaps in every company. A Product team cannot easily identify the target market. Thus, a company requires a product coach. There are various reasons why there is a need for a product coach.
Product coaches help in developing commercially viable products
Before making a product, the team does not identify which products are suitable. They may lack the sense of judging the needs of the market. A product coach can help in this matter.
Product coaches can take care of the product launch process
A lot of times a product team may have an idea but they lack in following the right process. There is no clarity between the management, marketing team, and product owners. Nobody knows the right strategies to be used for launching a product. As a product coach, you can help companies in a smooth product launch process.
Coaches can develop new ideas
Every company focuses on good ideas. But they do not know how to prioritize them. Product coaches can develop new ideas and curate them too. They understand which ideas should be first given a push. Companies may not have a proper feedback process.
A product coach takes into account all the feedback and ensures that it is seamlessly integrated into product development.
Coaches can deal with challenges and take actions
There are difficult situations in product development. A product coach is required to give product insights. This is to deal with uncertainties and take the appropriate decisions. The team at times does not know what improvements are required.
A coach can help in handling the loopholes. As a coach, you should be ready to take up challenges and take appropriate actions.
Product experts can measure the outcomes
Strategies are designed to measure the impact of a product. A product team may not know the criteria to analyze the outcomes. This is where a product coach can analyze and measure the outcomes.
Coaches can guide in designing products according to customer problems
Companies do not focus on what problems a customer faces. They develop products just for the sake of their benefits. They overlook whether the customer needs it or not. A product coach makes product development as per customer problems.
Core traits of a good product coach
What skills does a product coach possess? You must be eager to know about it. A coach helps people in mastering their skills. But for coaching people he or she also needs to have certain skills. What are these traits?
For product development, a proper skillset is a must. A coach should know ways to create feasible solutions. Also, they must have the skills to explore the problem areas. A product coach works with the product team, sales, marketing, and more. Hence, he should have technical proficiency. The skills should help in turning big ideas into actual products.
Here are some of the attributes or qualities of a good product coach.
Empathy, as defined in dictionaries, is the way of connecting with people’s feelings. It is about sharing their thoughts. As a product coach, you can understand the problem well if you are empathetic.
You will try to solve the issues of the product team by connecting with the management. It is seen that the product team shares their problems more if the coach is empathetic.
This skill is the base for all other product coach traits. Once the connection is built, sharing ideas is simple. As a product coach, you can communicate more effectively with the management and sales team. The pain points are identified beforehand. A coach knows which problems should be solved on a priority basis.
Listen with full interest
Listening is an important trait to uncover the needs which are not met. It is something similar to empathy. It involves persuading the team. The skill helps in getting to the root of an issue.
A coach may have a problem if he or she is ego-driven. This may lead to more failures. Thus, they must have active listening skills. For a good product coach, it works like a tool. Through this approach, they can help in creating products according to users. It is about listening to the needs of people and this is required for product success.
Curiosity is an important trait for product experts
As a product coach be curious to ask questions. You can conduct a question and answer session for clarity. As a coach, you can take your time to learn the pros and cons of product management. You should be curious to know about the latest trends, competition and more.
Curiosity will help you get clarity of the requirements and let you guide the product team in the right direction.
Be honest and a risk-taker
As a product coach, you should have a mindset of a risk-taker. But at the same time, be honest about the results even if things go wrong. As a coach, be prepared with plan B if plan A fails.
Acquire statistical knowledge
It is not that coaches are experts in math. But without a basic understanding of statistics, product coaching does not work. The coach uses it to identify meaningful data. The experiments will not work if statistics are not in place. It helps coaches in ignoring less productive information.
Have good IQ based on rational
After the analysis, coaches have to come out with an opinion. They have to dig deep to find what were the points which helped in achieving the results. It is about linking the dots. This helps in critical thinking. Also, coaches use critical thinking for the right judgment and decisions.
You will become thoughtful about results. There would be incomplete information that you may have to deal with. Hence, critical thinking skill is essential to reach the root cause and get the best product.
Product coaches should be good in visual communication
Drawing an idea gives more clarity. You may think about how this trait works? It is not about showing your art skills. This attribute is for describing the thought on paper. It helps in exploring various possibilities. Many coaches perform whiteboard sketching. This visual communication skill helps them share ideas in a better way.
Sometimes words do not create that magic which picture does. Here you are graphically representing the product information. This helps you to effectively create a useful product.
Benefits of having a good product coach
In today’s economic condition, companies are concerned about cost reduction. They are keen on reorganizing their resources. They want products with minimal redundancy. Organizations are approaching product coaches for product development.
Product coaching offers organizations with various benefits. As a coach, you are committed to the goals of the business. The good part about a product coach is that he or she targets the market demand. This, in turn, results in better outcomes.
Here are some of the ways why it is beneficial to leverage a product coach.
Product coaches can develop an effective product strategy
A product coach knows what kind of product is needed by the market. He or she takes care that the right product is delivered at the right time. For this, a coach builds up a strategy that is accepted by the organization.
Knows about the target market and the customer
A product coach teams up with the sales and other channels. This is to ensure that they are not pursuing the wrong target market. This is because a coach knows the current market trends. He or she knows where the biggest opportunities are lying.
The skillset of a product coach is very strong. It helps in selling products to the right customer.
Communication process increases within the product team
A product coach can improve the communication process between product and sale teams
A coach can initiate a good amount of dialogue among the team members. These conversations can lead to amazing opportunities.
Also, with the help of coaching, the team can derive new market problems. These issues can pertain to new or existing products. There should be communication with the marketing team also. It is to ensure that marketing activities are in sync with product sales.
Product coaches can prevent product failure risk
A product coach focuses on scalable products. Case studies are prepared after collecting product data. These are based on business intelligence and assumptions.
Product coach works upon market trends, customer needs, market situations, and various external factors. It helps to ensure that a company’s investment in a product involves minimum risk. A coach tests all the scenarios to create a product.
Helps in building a connection between strategy and implementation
Product strategy is of no meaning if not implemented correctly. Thus, a product coach creates a link between strategies and execution. This keeps the product team on track. They know what is to be done and whatnot.
Product coaches provide a useful roadmap
Product coaches look at the whole picture. They guide the team in executing the road map of the product. This way the teams know how to dedicatedly work for a particular product.
The product roadmap acts as a guideline that can guide the team to make the target product without any major problems.
Finalizes roles and responsibilities of team members
The product coach finalizes the role of each product team member. There is clarity about the functions of every member. This will help the team to complete the task on time without any delay.
How much can a product coach earn?
The average salary of a product coach is $76,500 per year. In hourly terms, it is $39.23 per hour. When a coach starts the business he or she can earn around $19,403 per year. But with experience product coaches can earn around $130,050 per year.
A lot of companies are eager about developing the products. They are ready to pay any amount for the success of the product.
Hence, this is the reason why a product coach has a high chance of earning handsome amounts. Even a product coach can earn $50 to $500 per session. Coaches who join a company can get $20,000 to $75,000.
Product coaching is a great option to achieve financial freedom. But one needs to gain expertise to earn well. All it requires is good knowledge of the market and hard work.
Marketing strategies for product coach to get clients fast
It is overwhelming to get clients. Also, you may need effective strategies for growing your business.
As a product coach, you should follow certain strategies. Yes, it can help you in the right way.
Below are some major marketing strategies that can work in your favor.
How to use this tool for getting the clients?
As a product coach, you will have professionals as an audience. Hence, LinkedIn is your platform.
There are various tools on LinkedIn for your help. You can make groups, send direct messages, share articles, and more.
The best tool is publishing videos. It can help in engaging with your LinkedIn connections. Also, you can post some unique coaching messages. The duration of videos can be 30 seconds. It will tell people about your unique coaching practices. Also, you can share the benefits of product coaching.
Join a networking group
A product coach can get clients through business networking groups. These are lead groups. They often conduct regular meetings. Here people exchange contacts and referrals. Through this, clients who are developing products can approach you.
Speak at conferences
A lot of organizations conduct conferences. A product coach can conduct a session wherein you can invite people. Here a coach gets a chance to share knowledge about product development. He or she also shares the experiences. These conferences are paid or free depending upon the place. But, it helps a coach meet some prospective clients.
The coach can collect their data and approach them later. It will provide more business in the future. Also, during the session provide a short quality handout for the participants. It should contain your contact information. Using conferences for sharing knowledge always works.
A product coach needs to find out the people who can refer their clients to him or her. These are the people whom a coach can put trust in. For instance, a designer can refer a coach to a new business owner. This way a coach gets the client. In the same way, a coach can provide a client to the designer. This can benefit both parties.
Mail an introductory letter
As a coach, you can prepare an introductory letter. This can include a free sample session. Prepare an attractive introductory offer and mail it to your contact list. The letter mentions your coaching work and benefits. People do not have much time to read. Hence, keep it short, simple, and attractive.
Create a promo kit
It consists of information about your coaching. This contains CDs about your coaching, brochures, articles, your card, etc. It has everything through which people can know about you. This is to be given to your prospective clients. Once they know how you can help them, they will approach you.
Make a YouTube channel on product coaching
These days a lot of people are starting their youtube channel. It is used in various fields.
You can create one such channel and ask people to subscribe. The idea is to create an engaging and interesting video.
Also, it should be informative enough. Share your contact in the end so that people can approach you. This helps in lending credibility to your coaching practice. More people will trust you. They will believe in what you do. This can turn them into paying clients.
You can be a guest speaker in such seminars. This is because such events are always looking for speakers. Here you can find many people to whom you can share your card. There would be people with a lot of queries.
You can ask them the right kind of questions. It must be open-ended so that people can give you more details. This is the best time to make yourself known as a specialist in product coaching.
Use Twitter search
This is the best option to find real-time tweets from people and companies. These are ones who are looking to hire or may need some help. There are keywords or phrases as below which help you in searching:
– Hiring a product coach
– Looking to hire an expert product coach
– Looking for a product development coach
You can try with more options and discover some great potential clients. There may be even good projects.
To summarize, to get yourself noticed as a product coach, you must follow the right strategies. The above guidelines are best to improve your coaching skills. There is no doubt that clients will ask for you once they know about your coaching.