5 Minutes with… Venkata Bhonagiri
Is there any greater gift than the gift of curiosity? It’s a trait that’s taken Venkata Bhonagiri half way round the world and has driven him to keep moving forward in his career, to leave a cushy consulting job to retrain on another continent to jump into the world of advertising and marketing. It’s also a trait that has drawn him to his specialism in data strategy, the quest to find truth in the numbers.
Having grown up in a small town in India, with little access to mass media beyond one TV channel, these days Venkata can be found in Chicago, a city with a proud history of innovation in marketing and advertising. He’s senior partner and group director for data strategy and analytics at Mindshare, where he’s keeping his curiosity sated in the ever-changing world of data, media and tech. But outside of his day job, he also devotes a considerable amount of time to coaching up-and-coming talent through ADCOLOR and MAIP. That, and hanging out with Chicago’s iconic T. Rex, Sue.
Venkata caught up with LBB’s Laura Swinton to discuss his fascinating career path and to find out what he makes of the changes AI is bringing to the field.
LBB> Growing up, what sort of impact did the media have on your childhood? Was there ever an ambition to get into marketing or media when you were at school?
Venkata> Growing up in a small town in India, where access to just one national TV channel was considered a luxury, made the impact of media even more significant. The advertisements of major CPG brands like Tide, Cadbury, and Pepsi left a lasting impression on me. The storytelling techniques employed in those ads were impeccable, capturing my curiosity as a child and then as a teenager. It's common for advertisers to aim for top-of-mind saliency, where they want their brand or product to be the first thing that comes to mind when a consumer thinks about a particular category. In my case, I remembered the ads whenever I walked into a store, showing the effectiveness of those campaigns.
However, at that time, I had not realised the science behind the creation of those ads and the impact they had on my purchase behavior. In hindsight, it's fascinating to recognise that those early experiences sparked my curiosity and led me to pursue a career in the advertising industry. Understanding the science and strategy behind the ads I once admired has deepened my appreciation for the creativity and thoughtfulness that goes into creating impactful marketing campaigns.
LBB> More broadly, what were the formative lessons from your childhood that have stayed with you?
Venkata> Belonging to a lower economic stratum of society, my father taught me to believe and practice these values:
1) Curiosity and openness to learning: Having an open mindset towards learning especially, will encourage us to adapt and grow in any situation. He taught me that the acquisition of new skills while embracing feedback would take us a long way – the growth mindset.
2) Sense of experimentation: Growing up, resources were always limited, so trying different things to overcome challenges especially due to economic constraints was almost built in.
3) Morality and ethics: Sense of right and wrong. To my father, honesty, integrity, and being kind and compassionate towards others were non-negotiable and I still believe in those values today.
LBB> Before entering the marketing world, I believe you worked in consulting - what was that like and have you found yourself drawing from that experience in your marketing career?
Venkata> Consulting was challenging but very rewarding. Every experience is so unique; your opinions, analysis and recommendations to organisations and individuals in this line of work are in part based on your expertise. You will be working with a lot of data and facts, and there is this urge to make decisions rather quickly and effectively. This is where my passion for data was born and when this was combined with my curiosity to understand the science behind marketing and advertising, I was drawn to media as a lasting career.
LBB> What was it that inspired you to not only go back to school but change careers AND move country all at the same time?
Venkata> Remember, I told you about curiosity and openness to learn? The most effective way to learn advertising and marketing was to pursue a master’s in the science of marketing. There were not many universities and colleges in India that offered marketing as a research program with a focus on consumer behavior, while there were a ton of universities in Europe and the US that did. I was admitted to a number of universities abroad and picked the one that offered me a merit-based scholarship.
LBB> And what advice would you give to someone looking to make a similar career change?
Venkata> Just one line for everyone: stay hungry, stay foolish!
LBB> When you first moved to the States, what was the biggest eye-opener for you and why?
Venkata> Cultural differences, very clearly! Social norms and ways of life differed significantly. Most importantly, my first handful of experiences was at the university I graduated from in Texas. In India, at least from where I come from - a highly conservative small town -the culture gives great deference to a person of authority like a professor or a manager at an organisation. For me, this can often limit the ability of students and/or junior-level employees at an organisation to be empowered to discuss, question, clarify and or challenge the status quo. However, when I moved to the US, I felt liberated, because I was given the freedom to ask questions to professors, and sit and ideate with them. This was a luxury for me back in India.
LBB> Your first job in a media agency following your post-grad was at PHD Media - what important lessons did you learn early on?
Venkata> Two big lessons:
One, the world of media and advertising is vast and ever-expanding, while each individual or organisation involved in the industry represents a relatively small part of the whole. I was pleasantly shocked to see and experience the proliferation of platforms, channels, and content, and the reach and impact of advertising that has grown tremendously. It made me realise that the agency world has a ton of potential.
Secondly, relationships are key i.e., agency-client, media agency-creative, agency-publishers, internal stakeholders, etc. It is rather crucial to maintain a strong and healthy relationship with various partners, both internal as well as external. Long-standing and sustainable partnerships can take both individuals and agencies a long way.
LBB> How would you describe your leadership style and how did you figure out what sort of leader you did (or didn’t!) want to be?
Venkata> It’s funny you ask this question; I was reflecting on my leadership a few months back and I believe my style is ‘servant leadership.’ I believe you should prioritise the needs of your team members and clients, and focus on their growth, well-being and success. I’ve always strived to serve as a mentor, consultative partner and facilitator, empowering my team and supporting clients to achieve their full potential and growth.
LBB> What recent projects have you been involved in that have been particularly satisfying?
Venkata> I have been working closely with the leadership team at Mindshare in shaping its ‘Good Growth’ system, an online strategy and planning platform that empowers our people and teams to drive our vision of ‘Good Growth’ for our clients.
Today, growth is changing. Global digital platforms have more users than countries have citizens and have united and empowered consumers to demand more from brands – more transparency; more value; more action and more authenticity. Mindshare’s approach has been trying to resolve tensions that marketers face today, specifically between short-term sales and long-term brand building by looking beyond a single moment, a single sale, and a single platform. This requires a new way to understand the motivations, mindsets, and emotions that drive consumer decision-making across platforms (empathy); you then need to scale these insights into activation that unifies demand and brand marketing (accuracy).
We have been focused on developing assets, tools and approaches to help make this happen. This is a very satisfying experience.
LBB> As you’ve progressed throughout your career, the number of platforms you have to work with and wealth of data you can access has grown wildly. Has that changed the nature of analytics in media and marketing, if so how?
Venkata> Yes, the increased number of platforms and the abundance of data have significantly changed the nature of analytics in media and marketing. It has shifted the focus from traditional methods to more data-driven approaches, allowing marketers to gain deeper insights into audience behavior, preferences, and campaign performance. With advanced analytics techniques and tools, marketers can now make more informed decisions, personalize experiences, optimise campaigns in real time, and measure the impact of their marketing efforts more accurately.
LBB> Here’s the inevitable AI question! Obviously there have been elements of AI and machine learning embedded in data tools for some time, but with this current boom and the ability to not only analyse but generate content too, how do you see AI opening up new opportunities for agencies like Mindshare?
Venkata> The current boom in AI and machine learning is opening new opportunities for media agencies. AI can automate and streamline various tasks, such as data analysis, content generation, and ad targeting. For example, AI-powered programmatic advertising platforms can optimise ad placements in real-time, leading to more effective and personalised advertising campaigns that reach the right audience at the right time. Mindshare has tools that are powered by AI that can auto-optimise several campaigns based on a desired business KPI and various buying currencies. This is rather game-changing.
LBB> What are your thoughts of a prospective re-coupling of the media and creative worlds of advertising?
Venkata> In an increasingly complex and fragmented media landscape, bringing these two worlds together can facilitate better collaboration, seamless integration and the development of more cohesive and effective campaigns. By breaking down silos and encouraging cross-functional collaboration, advertisers can create holistic strategies that deliver compelling messaging across various platforms, leading to more impactful and engaging advertising experiences for audiences. That’s why within Mindshare we have a creative content unit called Content+, and why as an agency, we also collaborate very closely with our creative agency partners, both across WPP and beyond.
LBB> You’re now based in Chicago, a city with an illustrious history of brands and advertising (and chilly winters!). How does the city inspire you and what are your favorite spots?
Venkata> Chicago indeed has a remarkable advertising history, being home to iconic agencies and brands. The city has played a pivotal role in shaping the advertising industry with innovative campaigns and creative ideas.
I have two favorite spots. One is the Magnificent Mile: my first workplace was on this bustling stretch of North Michigan Avenue. It has upscale shops, restaurants, and iconic landmarks like the Chicago Water Tower. And then the other is the Field Museum, a fascinating natural history museum, home to Sue, the largest and most complete T. Rex skeleton ever discovered.
Whether it's the vibrant advertising history or the diverse range of attractions, Chicago has something to offer everyone, making it a beloved city for both residents and visitors alike.
LBB> And outside of work, what do you like to get up to? What inspires your and refuels you?
Venkata> I find fulfillment in mentoring and coaching young talent. Sharing knowledge, providing guidance and nurturing the next generation can be rewarding and inspiring. I am one of the ADCOLOR FUTURES and a MAIP coach in my free time. The 4A's MAIP mission is to provide and showcase the advertising industry with the best talent through world-class development opportunities. I’ve also served on several industry awards juries; doing so allows me to engage with the creative community and gain a fresh perspective from time to time.
LBB> Looking back, you’ve been in the States for over a decade and in that time, India’s tech scene (which was already substantial) has really boomed - what do you think the media and marketing industries in the US and India could learn from each other?
Venkata> The media and marketing industries in the US and India can learn from each other in several ways. The US industry can learn from India's tech scene and in particular, its innovative use of technology to engage diverse audiences. India can benefit from the US industry's expertise in strategic planning, data-driven decision-making and responsible advertising practices. Both countries can exchange insights on cultural diversity, content creation, and storytelling to create more impactful and meaningful campaigns in a global context.
