What do B2C product management roles require?
B2C or Business-to-Consumer products are those products that get directly used by consumers. As an example, you can think of products that you encounter every day such as smartphones, social networking websites, and mobile banking apps as B2C products. Developing a B2C product requires extensive study of your target demographics using methods such as user research/focus groups. You will be catering your product to the masses and will need to use techniques like A/B testing to determine the impact of any changes to key performance metrics.
What do B2B product management roles require?
B2B or Business-to-Business products are those products that get directly used by enterprises, small and medium businesses, and mom-and-pop shops. As an example, you can think of products that any business may need such as bookkeeping software, contact center application, and cloud computing services. Developing a B2B product requires you to understand the core needs of a business and engage key decision-makers such as C-suite executives, and other senior leaders such as VPs and Directors. You may have a disproportionate focus on the top customers who will help you move the needle.
Are B2C or B2B roles better?
The cliched product manager's answer is it depends. Choosing to manage a B2C or B2B product comes down to your personal preferences. You should try out both types of roles before deciding what you like. B2C products can give you the satisfaction of knowing that your friends and family members are at least vaguely familiar with your work. B2B products are rarely talked about in the public domain as consumers don't use them in their everyday lives. However, B2B products allow you to work with senior executives on the customer side, which can help you learn leadership skills and build extensive professional connections. It is difficult to directly connect with customers on such a level with B2C products, as you are usually just getting feedback through key performance metrics and user research/focus groups.