The podcast: Begin with the End at Mind
The guest: Eshan Ponnadurai, vice president of consumer marketing at META
Source: The CMO Podcast
Why we picked it: Ponnadurai’s experiences at tech giants like Google, Uber, and META offer relevant lessons in adaptability, purpose-driven marketing and digital transformation. His emphasis on balancing data with storytelling, understanding diverse audiences and fostering cross-functional relationships addresses key challenges faced by today’s bank marketers.
Executive Summary
In the ever-evolving landscape of digital marketing, few stories are as compelling and instructive as that of Eshan Ponnadurai. As the Vice President of Consumer Marketing at META, Ponnadurai brings a unique blend of global experience, cultural sensitivity, and marketing acumen to one of the world’s most influential companies.
His journey from a young immigrant in Australia to a key player in shaping the marketing strategies of tech giants offers valuable insights for bank marketers.
The key takeaways from this cheat sheet can be found scattered throughout the report under “Ponnadurai’s lesson for bank marketers:”.
What we liked about the podcast: Ponnadurai is very engaging, and fun to listen to. His humility shines through the recording, but he didn’t hesitate to provide a slew of lessons he’s learned over the years, backed up by some great — and enticing — stories. The dialogue betweeen Ponnadurai and the podcast’s host Jim Stengel is also very conversational, which makes it very easy to listen to and lose track of time.
What we didn’t: The podcast traversed Ponnadurai’s career, but we would have loved to dig deeper into one or two of his jobs and the lessons he learned at those institutions.
Procter & Gamble As Ponnadurai’s Foundation
Ponnadurai’s marketing journey began at Procter & Gamble, where he quickly learned that marketing and advertising were far from synonymous.
“I thought advertising and marketing were the same thing until I joined P&G,” he recalled. This experience laid the foundation for his approach to marketing, emphasizing the importance of consumer insights and brand building.
Ponnadurai’s lesson for bank marketers: Look beyond traditional advertising. Focus on deep customer insights and use these to inform product development, customer experience improvements, and long-term brand building strategies.
Tech Giants and the Power of Purpose
Ponnadurai’s transition to the tech world started with YouTube and Google, where he played a crucial role in expanding these platforms in Southeast Asia. This experience taught him the importance of aligning a company’s products and services with a broader societal purpose.
He moved to Uber in 2016, to become their regional marketing director (where his manager at YouTube said “even we can’t stop you” from taking the job). The narrative changed three months later: “Incredibly poor reputation, poor internal values, poor operating system, illegal in many countries,” he says. “I definitely had some moments of like, what have I done?” he admitted.
That two-year stretch at Uber, while seemingly hopeless, was foundational to his career in marketing — allowing him to learn valuable lessons about leadership and the importance of purpose-driven marketing.
“In my experience, you have to expose yourself as a leader, you’ve got to be declarative about what you’re trying to do, the change you’re trying to create and be an example of that change in every way, ” he says.
Ponnadurai’s lesson for bank marketers: In an era where trust in financial institutions is often low, finding and communicating a clear purpose that goes beyond profit is crucial. This could involve focusing on financial inclusion, supporting local communities, or promoting financial literacy. Align your marketing efforts with this purpose to build stronger connections with customers.
Ponnadurai’s stints at Airbnb and WhatsApp further honed his skills in adapting to changing circumstances and working closely with founders to shape product strategies. At Airbnb, he had to quickly pivot from launching a luxury brand to reimagining how to serve high-end travelers within the existing platform.
At WhatsApp, on the other hand, Ponnadurai focused on establishing a marketing function for a product that already had massive global adoption. “My first response was, I don’t think you need a marketer. I think you guys are doing just fine over here,” he recalled. However, he soon realized the importance of articulating the app’s value proposition around privacy and connection.
Ponnadurai’s lesson for bank marketers: The financial sector is undergoing rapid digital transformation. Be prepared to adapt quickly, whether it’s to new technologies, changing customer expectations, or shifts in the regulatory environment. Always be ready to reassess and articulate your value proposition in light of these changes.
META: Managing Multiple Brands and Platforms
Ponnadurai now oversees consumer marketing for a portfolio of brands under the META parent company — including Facebook, Instagram, WhatsApp and Threads. This role presents unique challenges in managing multiple platforms with diverse user bases and at different stages of growth. To manage this complexity, Ponnadurai emphasizes breaking down the challenge into manageable parts — looking at these different arms as unique businesses instead of one big one. This approach allows him to tailor strategies to each platform’s unique user base and growth stage.
Ponnadurai’s lesson for bank marketers: Many banks offer a wide range of products and services, from personal checking accounts to complex investment products. Adopt a similar approach by viewing these as distinct “businesses” within your organization. Tailor your marketing strategies to the specific needs and characteristics of each product line and customer segment, while maintaining overall brand consistency.
He also stresses the importance of building strong relationships, particularly with product leaders. “If you’re working in a technology company and you’re a marketing leader, your primary relationship is with your product leaders,” he explains, adding how frequently he works — and fosters relationships — with other departments, particularly IT and product development teams.
Ponnadurai’s lesson for bank marketers: Foster strong relationships with other departments. As digital banking becomes increasingly important, close collaboration between marketing and tech teams is crucial for creating seamless, brand-aligned customer experiences across all touchpoints. This collaboration ensures that marketing efforts are aligned with product development and that the user experience consistently reflects the brand promise.
At META, Ponnadurai faces the challenge of measuring success across multiple platforms at different stages of maturity. He focuses on two key metrics: preference and usage. “Preference is a brand outcome,” he explains. “Are people in the categories we’re in finding Facebook, Instagram, WhatsApp, and Threads the most preferred brands?” Usage, on the other hand, can mean different things for different platforms – from growth in new markets to engagement and retention in mature ones.
Ponnadurai’s lesson for bank marketers: Develop a nuanced approach to measuring marketing success. While traditional metrics like customer acquisition and product uptake remain important, also consider measures of customer preference, engagement, and long-term loyalty. For digital products, user engagement and retention may be as important as initial adoption.
Dig deeper:
- From Outside Banking: How Brands Should Weather Consumer Skepticism of GenAI
- Fintechs, Walmart and Crypto: A Venture Capital Firm’s Take
- How Banks Can Compete Using Platform Business Models
Data and Story: The Dual Pillars of Modern Marketing
In the tech world, data is king. However, Ponnadurai emphasizes that data is only half of the equation. “Data is the language of business, but story is the language of humans,” he notes. Throughout his career, Ponnadurai has leveraged his passion for storytelling to create impactful marketing campaigns, including award-winning videos for Google and Uber.
For bank marketers, this balance is crucial. While the financial sector has access to vast amounts of customer data, translating this into compelling narratives that resonate with customers is the key to effective marketing.
Ponnadurai’s lesson for bank marketers: Invest in robust data analytics capabilities, but don’t neglect the power of storytelling. Use data to inform your strategies and measure your results, but craft compelling narratives that bring your brand and products to life for customers.
A Few Culture Lessons for a Digital Age
Throughout his career, Ponnadurai has come to view restlessness as a positive trait. “As I’ve got older, I think it’s like this… You’re never satisfied with the status quo. You’re always pushing for something more. There’s more for us to deliver, more for us to achieve.” he explains.
In his leadership role, Ponnadurai seeks to instill this sense of positive restlessness in his team. He aims to hire people who can see their personal dreams aligning with their professional ambitions, fostering an environment of continuous growth and innovation.
Ponnadurai’s lesson for bank marketers: Cultivate a culture of positive restlessness in your marketing team. Encourage continuous learning and innovation. In an industry often perceived as traditional and slow-moving, this mindset can be a powerful differentiator.
As the marketing landscape continues to evolve, Ponnadurai also chooses to remains steadfastly curious and forward-thinking. He’s particularly interested in understanding the next generation of internet users and how they interact with social media platforms.
“I’m curious about this next generation of adults,” he shared. “Someone that’s 18 today that’s going to be 20 in two years time… I think you fail to win a younger generation, you kind of fail your business, and you fail your brand.”
This curiosity extends to his personal interests as well. Ponnadurai is passionate about youth sports and mental wellness practices like breathwork, seeing these as ways to stay connected to younger generations and maintain his own well-being.
Ponnadurai’s lesson for bank marketers: Stay curious about emerging trends, particularly in how younger generations manage their finances. This could involve exploring new financial technologies, understanding changing attitudes towards traditional banking, or investigating how social media influences financial decisions.
Editor’s note: This article was prepared with AI language software and edited for clarity and accuracy by The Financial Brand editorial team.