Why is Executive Face Important Online - Tesla Marketing Strategy
Know more about virtual live receptionist services
What is Tesla Marketing?
One tweet by SpaceX and
Tesla CEO Elon Musk can fluctuate the Cryptocurrency market and stocks of many
companies. This shows the influence of the founders of giant companies on the
whole world's economy. With Tesla, one thing is sure executives should
come online and become the face of their company on Social Media platforms.
Elon Musk is one of the most influential businessmen who knows how exactly
social media marketing services work. In this article, we will discuss Tesla's
Marketing Strategy, how it began and why it is essential for the company's
founder to be the face of the company on (online) social media.
0$ Social Ad Budget of Tesla
Tesla and SpaceX have
become household names because of a massive shift from the traditional approach
of print social and video advertising that most companies employ promotional
marketing is the bread and butter of the automobile world; however, Tesla was a
little bit of an oddity in this field earlier this year brand total reported
that Tesla $0 social ad budget over 30 days. This report analyzed some of the
largest car manufacturers in the world and looked at all the paid and organic
social media marketing agencies. From this data, we can see that Facebook is the main money
sink foremost of the auto brand, with YouTube and Instagram not far behind.
However, we know the outlier tesla responded to unpaid social advertising towards
the bottom. This is a revealing clue that Tesla takes towards marketing. The
company envies brands worldwide because they seem to have mastered reaching a
worldwide audience with a minimum traditional marketing budget. Companies
worldwide spend billions each year trying to figure out how to engage audiences
and encourage them to buy their product.
So what makes Tesla unique, and why hasn't the
market been set? Or how do Ford been able to replicate such a result even
though Tesla doesn't invest in the social campaign? Why do we still see Musk's
face?
The Tesla logo or a SpaceX
launch is continuously plastered across screens. It can be primarily pinned down
to how Tesla's marketing team has well and truly figured out the free media promotion equation.
If you give the media an exciting story to
tell, they will reward you with free publicity.
Musk's media team has
provided countless examples of this equation in action.
After Hurricane Maria
knocked out the power for 3.5 million Puerto Rico residents who left him
without resources like running water, Tesla was one of the first companies to
step out and attempt to address the disaster pledging to help install battery
packs and repair solar panels on the island. Musk tweeted that Tesla had about
11000 projects underway in Puerto Rico, with employees working hard to install
them in hundreds of civic and residential buildings. The governor of Puerto
Rico tweeted back asking to talk further with Musk, which resulted in it being
retweeted thousands of times and the story being picked up on international news worldwide.
Another tactic in the
marketers' toolbox is the CEO; however, this can be either the bitter sharpest
or the bluntest tool available, depending on the company.
Luckily for Tesla, Elon
Musk may be one of the most marketable CEOs out there. Musk's personal Twitter
has developed a strong engagement following of 62.5 million followers. A steady
stream of tweets allows Musk to speak his mind, often sharing the company's
success goals and failures, personifying the company brand in real-time
compared to other major automobile companies. Tesla is the company of today.
Tesla has recently
topped Instagram as the fastest-growing brand in the world. According to
London-based company brand finance, this shouldn't be too surprising. After
all, they have positioned themselves well in some of the fastest-growing and
most popular industries like electric vehicles and sustainable energy, and even
space travel.
They are being led by an
outspoken media-savvy polarizing leader, Elon Musk, who is also known as a
walking talking marketing machine.
So, while their business
growth may not be that surprising, what is shocking is Elon Musk, and other
tesla insiders claim that Tesla does not do advertising. And yet they have
still managed to grow 64.9 percent just in the last year alone.
Advance SEO stratigies
How did Elon Musk
and Tesla become the fastest growing brand globally without advertising?
Well, the first thing
you need to understand unpacking Elon Musk and Tesla's claim is understanding
that advertising does not equal marketing. Instead, advertising is just one
small part of marketing and in Tesla's tiny nonexistent part, but that doesn't
mean that the company doesn't do marketing. Tesla is one of the experts in
marketing as, under the marketing umbrella, there are tons of other things like
content marketing, social media marketing, public relations, and many more. All
of these are marketing tools that Tesla uses, and all of them cost some time,
money, and energy.
For instance, when Tesla
launched their rocket into space and they sent a Tesla roadster for the ride
well, that was where they did marketing.
Marketing that just
happened cost just under 100 million dollars.
Now, this little trip to
space was not advertised at all. But it did include elements of content
marketing, social media marketing, and public relations. When it comes to
finding new, creative, and innovative ways to get attention and marketing, that
isn't advertising.
Advance Social Media marketing services
Here comes the most
surprising fact. Tesla is not alone; in fact, several other prevalent and
well-known businesses spend very little or nothing at all on advertising
companies like Google, Netflix, amazon, apple, Facebook, and Uber. These
companies have built massive empires on marketing but not necessarily on paid
advertising.
We will look at what was
the core of their marketing strategies but worst, let's tackle and answer the
question that:
What's wrong with advertising anyway?
When it comes to
launching a new brand or a new business, the traditional way is to create
something and spend a ton of money on advertising and try to reach as many
people as possible when this is done right, and when it's paired with an actual
good product or good service. This traditional approach can be pretty
practical, and the problem is this approach is made right. And more often than
not, advertising dollars and simply throwing money at the trial are spent
instead of time on strategic thinking and creativity. This is where the famous
John Wanamaker quote comes in, "half the money I spend advertising is
wasted. The trouble is, I don't know which half," And in today's day and
age, that is simply unacceptable.
While there are turn-off
places that advertise and go wrong very quickly, a large portion of this waste
simply comes down to optimizing for the wrong variable, such as spending money
to try to get likes, comments, shares or merely trying to reach as many people
as possible, or simply try to improve metrics like brand recall which is just
how many people remember you. At the end of the day, it’s not how many people
remember you; what matters is how many people buy from you. Marketing's job
always has and always should be first and foremost to make sales. If your
marketing isn't making sales, not bringing in new revenue, or not making you
money, then it's simply not working, and Tesla's marketing strategy is
definitely working.
So if Elon Musk and the
whole Tesla team aren't focused on Online advertising, what are they doing instead?
First of all, tesla is
an excellent product, and they are obsessive about making a great product or
even better. They are obsessively focused on their customer or end customer.
Tesla customers love the brand and love the company. How do we know this?
Customers write about it, and they talk about it and tell everyone that they
know about just how great the product is.
Now let's talk about
Apple. Innovation is at the core of what they do, and they are always trying to
make the product better, faster, and more exciting than their previous product.
Affordable Website development
So, what we learn as the principle of marketing from
Apple or Tesla are:
1. Make a great product
with an outstanding USP.
2. to tell everyone
about that product.
Most business
entrepreneurs try to gain attention regarding their products, but this never
works out. Anything less, you focus on creating an outstanding product.
Elon Musk- The Integral Part
Tesla almost has
baked-in marketing aspects to it with alone and his personality. He can also
leverage the brand that he has spent years building up before getting into
Tesla. Because Elon Musk is so polarizing and outspoken, it makes it easy for
him to get a ton of attention. In short, Elon Musk is synonymous with Tesla.
Like Steve Jobs was synonymous with Apple, or Bill Gates was synonymous with
Microsoft. Essentially, when one of these enormous personalities does or says
something, it forms a two-part effect where not just the personal brand gets
the attention but also the business.
Read more:
Top 10 digital marketing agencies USA
Digital Marketing Strategy 2022
Comments
Post a Comment