Negotiating Timelines & Targets Is Crucial: Puneeth Bekal, HDFC Securities

An accomplished marketer, Puneeth Bekal, EVP & CMO, HDFC Securities, has been in the industry for over 17 years, a major part of which is in the BFSI sector. Along with orchestrating several award-winning campaigns with noteworthy accolades like Emvies, Effies, and Abbys, Bekal has built a powerful sponsorship ecosystem for brands with BCCI, ICC and IPL.

On top of it, he has worked in over 42 cities across India and 7 countries, presenting him with a deep understanding of the country's diverse nature and sense of global interconnectedness. This has, in turn, helped him become a better marketer with an inclusive mindset, he feels. 

In a quick confab with Bekal, he speaks on what goes behind the journey of becoming one of the ‘BW Top Marketers 2024’ and how he navigates his day-to-day agendas.

Excerpts:

You moved from Mastercard to HDFC Securities earlier this year. What about the BFSI domain interests you so much in your career choices? Had you considered other sectors at any point?

Fintech is one of the most rapidly evolving sectors globally, especially in India, where we are at the forefront of tech innovation. With our diverse demographics and rising disposable incomes across various age groups, the BFSI/fintech space is uniquely positioned to empower individuals to manage and grow their wealth with ease. There's also a noticeable cultural shift among younger generations in how they view money and finances compared to previous generations. Today’s youth understand the importance of actively engaging with financial platforms and partnering with trusted experts to reach their personal financial goals. While I had several opportunities across sectors such as media and sustainability and was particularly drawn to green ventures due to my passion for environmental causes, I felt that fintech offered a broader scope for learning and brand-building, especially for younger audiences. My career journey has taken me through various industries—from automotive to real estate, FMCG, corporate brand strategy, retail, payments, and now fintech. Each sector has provided fresh perspectives on marketing, helping me to constantly reinvent myself. This variety keeps the journey exciting and fulfilling, allowing for innovation and the establishment of new frameworks across industries, which is both challenging and satisfying. 

HDFC Securities is part of HDFC, a major homegrown brand primarily focused on India. What are some of the challenges and opportunities that come with this, compared to your earlier experiences with international brands? 

Honestly, the challenges aren’t too different. In large organisations like Godrej, Mastercard, or HDFC, core systems and processes are well-established. However, from a marketing and branding perspective, the challenge lies in adding new dimensions and frameworks to meet the specific goals and objectives you’ve been brought on to achieve. 

How do you ensure that all stakeholders are aligned with marketing goals and outcomes?

I prioritise clear goal-setting and defining dependencies across functions, ensuring these are discussed with relevant stakeholders. Negotiating timelines and targets is crucial. Building strong cross-functional teams and creating seamless workflows is essential. But the most important aspect is adopting a consumer-first approach. When this mindset permeates across functions, it enhances the quality of interactions and collaborations. Regular meetings with the CEO, sales, product, tech, and strategy teams foster ongoing collaboration, allow for necessary adjustments, and ensure transparency. This approach helps in setting realistic yet ambitious marketing goals. 

You are among the youngest marketing leaders included in the BW Top Marketers list. While age is indeed just a number, what works to your advantage (or even disadvantage) in this context, especially given the intensity of the BFSI sector in India? 

Being younger is definitely an advantage, as the majority of the nation is young. Legacy companies often struggle to connect with the cultural and mindset shifts among younger consumers. However, being younger also means working harder to build credibility and trust with industry veterans. I believe that combining the rich insights from seasoned professionals with the agility to embrace emerging trends will help create robust strategies, seamless execution, and, most importantly, a strong organisational culture. 

How do you navigate the complexities associated with being a CMO in today’s business environment where ROI is critical? 

One of the exciting aspects of being a modern marketer is the responsibility for ROI and the ability to directly impact the business. It places you at the center of decision-making, where you can analyse data, identify the right channels, refine messaging, and optimise campaigns daily. Of course, building the brand and ensuring it resonates with cultural movements and consumer passions through activations and conversations is also key, alongside driving pure business metrics. 

The CEO-CMO partnership is becoming increasingly important but also faces challenges, with many CEOs expressing dissatisfaction with marketing departments. How do you see this partnership evolving in the era of modern brand and business building? What kind of companies will reap the most benefits? 

As mentioned earlier, marketing must be ROI-driven, leading to tangible business outcomes. Without this, the function lacks impact. Traditional marketing strategies need to evolve, integrating acquisition, distribution, and content-to-commerce with brand-building initiatives. This alignment with the CEO’s vision is crucial and applies across industries and consumer segments.

Soumya Sehgal Bhutani

BW Reporters Soumya is the Senior Editorial Lead at BW Marketing World. She extensively writes on the Indian media, marketing and advertising ecosystem in India.