What is behavioral product management?
Behavioral product management (BPM) Is Product management that incorporates the science of psychology and how it is applied to human beings. Behavioral product management is utilized in the design of products to improve the user experience.
One of the basic assumptions of behavioral product management is that Human beings are irrational animals. Business process management strives to account for these unpredictable elements. In essence, behavioral product management has two modes of operation:
The psychology of the consumer – can have a significant impact on the design of a product. Still, you can also utilize psychology to channel customers toward certain behaviors that the product manager knows will benefit the product. In this sense, the product and the consumer are two-way conversations with themselves.
The emotions and sensations that a consumer can have when using a product should be considered by designers. ” What attracts their attention, drives them, and keeps them motivated are essential considerations.
A product manager must have at least an essential awareness of the factors influencing consumer behavior. Whether or not this progresses to the formal application of psychology depends on different circumstances.
Business process management (BPM) becomes an inescapable extension or branch of the more usual product management process.
Furthermore, after applying well-put behavioral product management, The product manager now has more visibility into the customer experience. It means that behavioral product management allows them to have a quantifiable and significant effect on the success of every department. While these responsibilities may not be listed in your job description, product managers may use behavioral data to assist coworkers in making wiser, more efficient, data-driven choices.
Benefits of Behavioral Product Management
A Product Manager can acquire valuable insight into the hopes, anxieties, frustrations, requirements, and wishes of the consumer by utilizing this technique. However, it is essential to note that psychology, and hence business process management, can not always successfully predict how people will act and react in the future. Simply put – behavioral product management shapes the mechanisms of business process management. It guides it to a valuable treasure: the data about what is driving the target audience.
When extensive market research has been conducted on a potential product and consumer opinions have been meticulously collected, it is not always the case that the production of a successful outcome will follow automatically. In the best-case scenario, measuring human volatility is an imperfect art form.
Example for Behavioral Product Management
Although behavioral product management is not a novel concept in and of itself, it has been able to develop in tandem with the scientific discipline of psychology, which has resulted in the production of increasingly complex consumer products in the process. The new car will be able to use new polymer inventions as they become available. BPM can benefit from discovering new psychological concepts simultaneously as they are developed. A phrase is used to characterize the application of psychology in product development embraced by various industries: “leveraging.”
Keeping the customer in mind Because it tends to concentrate primarily on the product’s end-user, behavioral product development is a small field of study. As a result, perhaps it should be regarded as a branch of broader product development rather than something that can completely replace it.
Pricing How a corporation prices a product can significantly impact consumers’ attitudes. It is simple to believe that when a product is overpriced, the immediate and more natural consequence will be that people will flee from the store. This does happen from time to time, at least in part.
Consumers who assume that the product’s value must be higher since the price is higher, on the other hand, have a less intuitive reaction to this. As a result, consumers may regard the product as a complete purchase, leading them to crave it.
Automation The aversion to having to perform the same acts over and over again is a well-established psychological consumer feature in many cultures. This is evident in the modern environment, where users must log into software applications each time they wish to access their content. Consumers have responded positively to the introduction of automated login, and its inclusion has made using a wide range of software products more accessible and more pleasant to use.
Simplification A study in behavioral psychology found that people sometimes feel overwhelmed by various options when faced with a choice. As a result, software applications have begun to reduce the amount of information that may be displayed on the screen at any given time to ease this problem (mobile apps). The users have a more comfortable experience and are more satisfied with the product when only the most popular consumer selections are displayed on the screen at any given time.
Behavioral Analytics vs. Business Data
Product teams obtain various information about their user personas by asking members from those persona groups a series of questions. Customer interviews, focus groups, and surveys are all ways that can bring value and insights.
When a product team asks focus group participants what feature they’d like the most, they may get an entirely different response than if they see those people engaging with a product prototype.
Behavioral analytics varies from other forms of data in that it records what individuals do rather than what they say.
How To Use Behavioral methods in your Product Management
There are various ways that Behavioral Product Management can assist a product manager, including the following:
– The difference between being spontaneous and proactive Unlike carelessly applied psychology in product management, which is erratic and unmeasured, actively involved business process management (BPM) is aggressive and systematic.
– An experienced product manager will be able to develop tools, such as psychological performance indicators, that will allow them to hold the product accountable. To trace the course of the product and keep it appealing to the consumer, product managers must make certain parts of the product development measurable in terms of these indicators, as described above.
Using notions of human behavior to your advantage When building a product, it is possible to draw on existing knowledge of human behavior.
Simple as that. If product managers were aware that you attracted all consumers to the color green, it would be advantageous for them to ensure that the product was green. A thorough psychology study may help you understand how people think, and building a product that adheres to specific behavioral principles will help you succeed in a competitive market.
This may even occur when a user may not consciously understand that they like a particular aspect of a product, even though you purposefully included the feature in the product in the first place.
On the lookout for distinguishing characteristics, A fundamental driving reason behind the development of practically any product is the need to identify a distinct niche or specific feature that would provide a competitive advantage to a company in the marketplace.
To accomplish this, a company can collect data from consumers about their unknown behaviors and then strive to address those needs in the product.
Alternatively, a company may employ previously acquired expertise in a specific topic area and include it in the product to influence the buyer.
Bringing science and design together, Psychology has grown in the same way that other areas of science have done throughout history.
Whether a company intentionally applies psychology to a project or the production of a product, it must do so to some extent to make the product or service appealing to the user.
A visually appealing product that performs well in the marketplace will always be a more appealing possibility than one that performs well but is also visually appealing.