Google and Meta leaders on managing stakeholders
One of my biggest challenges as a PM was properly managing stakeholders. This is arguably the highest leverage activities you can undertake as a PM.
I got the below feedback from a senior executive after investing in executive communication. In this post I share strategies I learned and use.
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4 case studies I submitted to hiring managers got me offers from different companies. (Join 16+ people who have access )
Solutions to 7 popular PM interview questions using frameworks from PMs at Google, Microsoft, and Amazon PMs (Join 7+ people who have access )
Free resources (worth at least 3500$) that helped me transition from customer success to Product Management (liked by 500+ people
Sample resume used by PMs to land a Microsoft offer. (Liked by 2000+ people)
Review from a PM colleague in the United Kingdom
Why is managing stakeholders important as a PM?
Ensures alignment with project goals and stakeholder expectations, driving overall success.
Facilitates effective communication and decision-making, reducing risks and conflicts.
Enhances collaboration and support, leading to better resource allocation and project outcomes.
What are signs you need to manage stakeholders better?
Constant requests for updates by stakeholders.
ā Inconsistent feedback ā Stakeholders provide conflicting or delayed input, causing confusion.
Lack of engagement ā Stakeholders are uninvolved, indicating poor communication or unclear expectations.
What do Senior management stakeholders care about in your communication?
Impact on business outcomes and long-term objectives.
Sā trategic alignment with company goals.
Progress against key metrics and milestones.
Critical decisions needed and clear next steps.
Proven frameworks for communicating with stakeholders and Executives
Summary
Here are 10 practical strategies I have learnt and use to manage stakeholders
1. Clear Communication: Use tools like Slack for real-time updates and tailor messages to the audience.
2. Set Expectations Early: Outline goals, timelines, and manage scope with a formal process.
3. Active Listening: Schedule check-ins and use tools like Google Forms to collect and address feedback.
4. Involve Stakeholders in Decision-Making: Use collaborative tools and workshops for alignment.
5. Tailor Information for Different Stakeholders: Customize updates based on stakeholder roles and needs.
6. Build Trust: Follow through on commitments and be transparent about issues.
7. Manage Conflict Effectively: Mediate disagreements with data and neutral problem-solving.
8. Provide Value to Stakeholders: Demonstrate progress with metrics and tailored reports.
9. Document Decisions and Agreements: Summarize meetings and track decisions with tools like Jira.
10. Stay Proactive: Use a stakeholder matrix and address risks before they escalate.
Deep dive
1. Clear Communication: Establish transparent and regular communication with stakeholders.
Tips:
- Set up a communication plan that includes regular updates via email, reports, or meetings.
- Use communication tools like Slack or Teams to provide real-time updates.
- Ensure all communication is tailored to the audienceāavoid technical jargon for non-technical stakeholders.
2. Set Expectations Early: Align expectations from the start regarding project goals, timelines, and outcomes.
Tips
- Hold a kickoff meeting to outline the product vision, milestones, and timelines.
- Share a project timeline document or roadmap with clear deadlines.
- Manage scope creep by agreeing on a formal change management process.
3. Active Listening: Ensure stakeholders feel heard and valued.
Tips:
- Schedule regular one-on-one check-ins with key stakeholders to gather their feedback.
- Use a feedback collection tool (e.g., Google Forms) to systematically collect input from multiple stakeholders.
- Restate their feedback during meetings to show active listening and clarify any doubts.
4. Involve Stakeholders in Decision-Making: Engage stakeholders early in the decision-making process to ensure buy-in.
Tips:
- Use collaborative tools like Miro or Confluence for co-creating product features or strategies.
- Organize workshops or brainstorming sessions to align on product priorities.
- Create voting or prioritization sessions using frameworks like RICE or MoSCoW.
5. Tailor Information for Different Stakeholders: Customize the depth and type of information for different stakeholders.
Tips:
- For executives, provide high-level progress and ROI-focused updates.
- For technical teams, offer more detailed insights into product specs or timelines.
- Use visualization tools (e.g., dashboards) to give non-technical stakeholders an easy overview of progress.
6. Build Trust: Develop strong relationships based on trust and reliability.
Tips:
- Keep promises and follow through on commitments, big or small.
- Be transparent when things go wrongāadmit mistakes and work on solutions.
- Regularly check in on the pulse of stakeholder satisfaction using surveys or informal feedback.
7. Manage Conflict Effectively: Resolve stakeholder disagreements with tact.
Tips:
- Identify areas of misalignment early and mediate discussions with facts and data.
- Use conflict resolution frameworks like āCollaborative Problem Solvingā to work through disagreements.
- Stay neutral and focus on finding common ground that benefits the product.
8. Provide Value to Stakeholders: Focus on delivering value that aligns with stakeholder needs.
Tips:
- Regularly remind stakeholders how the productās development is solving their pain points or reaching business goals.
- Demonstrate progress with tangible outcomesāuse metrics or early product releases to showcase value.
- Create custom reports that highlight specific KPIs relevant to each stakeholder group.
9. Document Decisions and Agreements: Maintain records of discussions and decisions to avoid misunderstandings.
Tips:
- After every significant meeting, send a summary of decisions and action points to all attendees.
- Use project management tools like Jira or Trello to document and track agreements.
- Maintain a shared document or wiki for easy access to key project decisions.
10. Stay Proactive: Anticipate stakeholder needs and concerns before they arise.
Tips :
- Use a stakeholder mapping matrix to identify and categorize stakeholders based on their influence and interest.
- Plan regular risk reviews to address potential concerns before they escalate.
- Proactively offer solutions to potential blockers rather than waiting for stakeholders to raise issues.
Each of these strategies ensures that stakeholders remain informed, engaged, and aligned throughout the product lifecycle, minimizing friction and enhancing collaboration.
Thatās it for this week. See you next Monday!
When you are ready, I can help you in four ways:
4 case studies I submitted to hiring managers got me offers from different companies. (Join 16+ people who have access )
Solutions to 7 popular PM interview questions using frameworks from PMs at Google, Microsoft, and Amazon PMs (Join 7+ people who have access )
Give you free resources (worth at least 3500$) that helped me transition from customer success to Product Management (liked by 900+ people
Give you a sample resume used by PMs to land a Microsoft offer. (liked by 2000+ people)
Feedback from a PM who landed her first role through close mentorship
Free Resources
Link to the free communication template
How to speak more confidently and persuasively |Matt Abrahams
2. ā Persuasive communication and managing up | Wes Kao
3. ā .#ProductCon SF '23: Empower Your Team w/Effective Communication by Disney SVP of Product
4. ā Webinar: Effectively Communicate With the Leadership Team by fmr Uber PM Dir, Satadal Bhattacharjee
5. #ProductCon: The Skills to Become a Director, VP, or CPO by Facebook VP of Product
6. Webinar: Communicating with Executives Effectively by Google Group PM,