Importance of Monetization for Product Managers

Monetization plays a crucial role in product management, as it ensures the creation of value for customers. Product managers should actively consider monetization strategies for their products, rather than relying solely on alternative revenue sources like ads or subsidies. They should assess the possibility of assigning a price to each new feature or product they develop. Understanding the marginal costs and ensuring that the price justifies the value delivered is also important. By viewing pricing decisions as user-centric and aligning them with the broader product experience, PMs can create fair and compelling value propositions for their well-monetized buyers.