Elon Musk Announces Tesla’s Shocking Advertising Strategy!

Elon Musk made a shocking news admission recently which gave the world of marketing a striking shake. At a stakeholders meeting, he admired ‘advertising’ and asserted that ‘Tesla’ is looking to give it a try. At the company’s annual meeting, he said that he is planning to use a traditional marketing strategy for the very first time and emphasized that it is necessary for the company in the coming year as Tesla, he said, is not immune to macroeconomic pressures. This decision signifies a drastic shift in Tesla’s marketing strategy.

Tesla is not going to use the media, the Twitter owner said, and amplify its branding. He is envisioning advertising revolving around the safety, quality, features, and affordability of Tesla vehicles. The advertising strategy is yet to be framed, but the approach is going to be clear, Elon said. The company is going to preach to an audience that has already converted. The company is not seeking to reach people who have not already converted. We can expect an aesthetically pleasing and informative copy for sure, as per experts.

He further said that there is a lot about the company that people do not know. The audience is not fully aware of the features and functionalities of Tesla vehicles which the company now aims to approach through a traditional advertising strategy. The company is now going to go for more tasteful advertising campaigns to improve brand awareness and market penetration. The company may finally stand to benefit from advertising as a result of macroeconomic changes in the manufacture of electric vehicles (and higher performances from competitors) compared to last year when Tesla automobiles were in high demand. And although Musk will soon transfer control of Twitter’s CEO role to someone else, it seems like it would be a good place to start for any Tesla marketing effort.

What Are The Possible Reasons Behind This Shift In Strategy?

Similar to other automakers, Tesla doesn’t invest in conventional advertising. It also wasn’t really necessary. Other marketing strategies, like emails, referral programs that reward current owners for referring new clients, and Musk’s frequent tweets, have helped the company gain enormous popularity. Tesla has even used its devoted consumers to create its advertisements. Musk agreed to the concept in 2017 after a Tesla enthusiast who wrote a letter to the business asking it to run an advertising contest posted it on Twitter. Marques Brownlee, a YouTuber and tech reviewer, was declared the winner of the competition, which was called Project Loveday, in honor of the 10-year-old girl.

There are numerous reasons why Tesla ought to think about running advertisements. The brand distinction must now go beyond simply saying, “Hey, it’s electric!” due to the developing EV market. It isn’t an anomaly anymore. Most electric vehicles now have huge touchscreen displays and quick 0 to 60 mph acceleration, which is a hallmark of Tesla’s attributes. The EV industry has developed to the point where it is no longer sufficient to be the hip, brand-new, sparkly ornament among a collection of century-old combustion engine artifacts.

TWITTER LINK

Given his acquisition of Twitter last autumn, Musk’s “newfound passion for advertising,” in the words of novelist and venture capitalist Claire Diaz-Ortiz, was not unexpected. Former Twitter manager Diaz-Ortiz is the author of books about the social media firm. There is also a further, more intricate explanation. Until last October, when he acquired Twitter, which, despite Musk’s numerous and frequently ill-considered attempts to generate alternate revenue streams, still relies nearly entirely on advertising, he could afford to be scornful of advertising. If you keep downplaying the usefulness of, well, advertising, it might be harder to persuade marketers that you’re a viable partner.

Twitter depends heavily on advertising, so here I am with a firm that also depends heavily on advertising, despite never really using advertising previously, Musk said. Advertising is great, so everyone should do it, I suppose. On stage, Musk stated. Musk also emphasized that Tesla might gain from advertising by highlighting characteristics that customers might not be aware of.

Musk’s “revelation” has one drawback in that a larger audience may not necessarily agree with his current interpretations of what is educational and entertaining. A day before the shareholders’ meeting, Musk used his trademarked tone to claim that George Soros “wants to erode the very fabric of civilization” and that he “hates humanity,” before making use of an anti-Semitic cliche and drawing comparisons to the Marvel villain Magneto. Recently, the Soros family office fund sold its Tesla stock. Musk responded to an inquiry from NBC News over his remarks by saying, “I’ll say what I want to say, and if the consequence of doing that is losing money, so be it.” The kind of brand development that Tesla needs is not this. (Or Twitter, SpaceX, etc.)