This element of the marketing mix identifies the organization’s outputs or products sold to target customers. They can initiate chain of showrooms. Tesla Advertising Strategy. Tesla’s target audience is rallied by the company’s mission and genuinely believes Tesla is capable of the best. Tesla’s website is also an effective channel for sales and marketing, it has also used Twitter to successfully connect with the large base of fans and followers. In fact, most of the company’s announcements are made casually in response to Twitter fans. No wonder Tesla has the highest customer loyalty of all car brands with an overall satisfaction rating of 90%. While traditional marketing methods (TV, billboards, radio, and the likes) still work well to generate brand awareness, they simply aren’t affordable for everyday businesses, startups, and SMEs. It encourages others, namely customers, to do the selling for them. It provides incentives to the customers who have contributed a lot to GoPro's USG strategy. Also, responding to comments and complaints in a timely manner on social media is crucial to building a loyal fan base. Let’s join forces to drive awe-inspiring results. It goes without saying, but Tesla won’t be where it is today without its charismatic and audacious CEO, Elon Musk. Tesla bought its first factory from General Motors in 2010 and quickly transformed the facility into one of the world’s most advanced automotive plants. As needless to say as it is, Tesla Motors won’t be where it is today without the influence of its charismatic and rather audacious CEO, Elon Musk. And that’s understandable – they have to be super careful about what they’re posting as they represent the company, so to speak. He smokes marijuana with Joe Rogan, sells flamethrowers for fun, and sends a Tesla into space – pretty controversial stuff that completely captures and keeps your attention for when there’s a product launch. This is how you’ll rally a faithful fan following, and in turn, a loyal customer base. Usually, CEOs are somewhat hesitant when it comes to going all out on social media. Sure, your company’s CEO won’t be nearly as influential as Musk, but their personal branding efforts will make a huge difference to the company’s growth. Tweeting about new business ideas on the drive home, complaining about Twitter locking his account, live broadcasting rocket launches – there’s no holding him back. Opening offline stores in different countries would be beneficial because it will allow its customers to touch, try, and feel the product before purchasing it. Surveying more than 330 workers on-site has enabled them to get a clear forecast of how can marketing concept will evolve in the coming years. What is Tesla’s marketing strategy? The company uses product development to fulfill corporate objectives in this 4P variable. You must make sure this is not the case with your company. To many, cars are an extension of their characters. Does Tesla Motors have a great marketing department? In fact, in less than two decades, it has become the most valuable car company in the United States and one of the most sought-after car brands with an astounding fan base. Supporting a cause, raising funds to help someone in need, and being present at public events also gets people to check your business out for reasons other than just the products or services you offer. Instead of following the usual guidelines of "tweet this much, include videos" etc., you start to make your own. Tesla has 17 stores worldwide (ACWI) to sell its cars. Are you a Ferrari or a Lamborghini person? View all posts by Tim Ferguson, How to Use ClickMeeting to Create a Webinar Flywheel That Builds Momentum. Continuing along the same lines of authenticity, Tesla as a company are blatantly themselves. So if there is an automaker that can sell its cars using an online-only model, Tesla would seem to be it. This social proof is pivotal to creating a brand that’s head and shoulders above the competition. Keep in mind this was two years before the car was in production. Tesla keeps improving its systems, focusing on the big picture and the future. SEO and Content Marketing Blog - Growfusely, Arkin Khemchandani is a Content Marketer at, 17 Content Marketing Trends You Should Watch Out For In 2021, 10 Ecommerce SEO Strategies for Success in 2021 and Beyond, How To Leverage Quora For Content Marketing, Create the Best Possible Customer Experience, Leverage Your CEO’s Social Media Influence, Champion Your Mission and Vision in All Marketing Efforts, Provide Top-Notch Customer Support Post Purchase, Don’t Be Afraid to Be a Bit Controversial, Generate Brand Exposure Through Multiple Paths. Authenticity is how you correctly connect with your audience, and controversy is how you expand your audience. Have you ever seen a Tesla ad on TV, in a newspaper, or even on a web site? Teslas are not yet 100% green, but extreme public scrutiny of the company’s manufacturing processes will force Tesla to continue to improve its overall sustainability if it intends to retain its edge. Simply put, Tesla’s branding strategy is more “human”, relatable, and fun – something that you can emulate for your own branding. The company controls everything (from the initial test drive to follow-up maintenance) about the journey and isn’t pushy with its sales, which makes for an outstanding car buying experience. One wrong post can hurt the brand’s reputation, or even result in lawsuits. Many customers who tweeted at the company received personal responses from Elon Musk who gave honest updates on the situation. The modern customer starts their buyer journey online. Also of note is the company’s gradual a… The customers can easily contribute to the company's strategy because they don't have to … It could work wonders for your branding and you won’t be spending a dime on ads. But not Elon Musk. 3. However, Tesla can still sell its vehicles online in these regions, as the regulations bar Tesla only from direct sales in these regions. If you haven’t already, consider creating an exciting referral program for your company that motivates your customers to spread the word amongst their friends and family. Of course, most companies can’t match this level of ambition in their mission and vision statements – but you sure can emulate the strategy of using your statement to build a brand with a faithful following. On an ending note – no, Tesla doesn’t have $0 as its marketing budget. Just as Tesla is fully invested in creating the best electric cars on the planet, Tesla owners are truly invested in the success of the company. And vision statements don’t get much stronger than Tesla’s: “To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.”. Many customers reported receiving conflicting information from different Tesla employees. And this is appreciated by the customers – 73% of customers say valuing their time is the most important thing companies can do to provide great service. Put a face to the name. Are you doing anything interesting or helping the world? With over 34 million followers and 11,000 tweets, calling him a mere “influencer” would be an understatement. It also arranges different contests to motivate the customers for sharing their videos. In 2006, Elon Musk shared his ‘ Secret Tesla Motors Master Plan (just between you and me)’ on the Tesla website. So, how does Tesla do its marketing on a limited budget? Essentially, Tesla markets to its customers by not directly marketing to them. This is why it’s important to start marketing Tesla in a more traditional manner. Word of mouth and the free media coverage is enough to fuel demand for the brand. Finally, for holistic branding, do more than just direct selling of your products or services by maybe supporting a cause or doing something for the greater good of the people. Customers regularly engage with your product after the purchase, which affects their outlook of the company and its service. Marketing of Tesla communicating the benefits have to be strong. Modern customers are an impatient bunch. The solution is to wean Tesla off of its near-term dependence on the capital markets by turning at least modestly profitable, which Goldman Sachs projects will … What is Tesla’s marketing strategy? This hasn’t been a strong point of Tesla as some of the major complaints of new car owners come from Tesla’s distribution strategy and delivery process. Apart from people in the marketing and advertising industry, there may only be a handful of people on the planet who actually enjoy ads. Sometimes, standing out from your competition doesn’t have to just be about your business offerings, but your involvement in other important things in the world. While nobody outside Tesla has concrete answers for these questions, there’s certainly a lot we can learn from the way Tesla has stood itself apart as a car brand. It takes the onus off of Musk and other executives to get Tesla into the news, and ensures that when he’s gone, the electric automaker can still make headlines. Tesla “ boutiques” t end t o h ave m ore s table r evenue s treams t han t raditional c ar d ealerships, a s there a re a n o s alespersons, n o s ervice c omponent, a nd p rices o f a ll T esla … Not only does it help guide the company in a forward direction during testing times, but when used strategically, it can greatly support all marketing efforts. It can improve retailing strategy by collaborating with service providers like mechanics, part suppliers and sales teams across the countries. They add features like “fart noises” to their cars, while the CEO shares memes on Twitter. Before you dive into this post, take a look at our brand report on Tesla and its share of voice in the automotive industry. Essentially, Tesla shapes its brand with innovation and simplistic minimalism – it sets itself apart by doing things differently without compromising on quality. © 2018-2020 Growfusely. If there’s an issue that you’re working to fix, one that’s going to cause customer disappointment, it’s crucial to be transparent about it instead of hiding it – and your customers would appreciate it. Tesla's Marketing Strategy on Social - The "Apple" Approach This isn't an approach that necessarily works for everyone, but when you've built a hype machine as Tesla has done, the rules of social media start to change. Selling cars online will create hesitations from the customer's side. It lets you and I advertise for them, for free. Do you prefer a supercharger or a turbocharger? 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