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how can tesla improve its marketing

December 20, 2020

Posted in: Blog

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. After thinking of other companies as a competition for about a decade, the company simply decided it was ‘’silly’’ to think like that. Here are four marketing lessons that can help any business wanting some of Tesla’s magic to work for them. 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. In some states selling vehicles directly is banned. Apart from your core products or services that you’re selling, what else do you have to offer? It can improve retailing strategy by collaborating with service providers like mechanics, part suppliers and sales teams across the countries. Are you doing anything interesting or helping the world? Download our Tesla SOV brand report now! Ordinarily, when you go to a car dealership, you have to deal with a sleazy salesman trying to earn as much commission as possible from your purchase. Well, those who focus on the actual numbers will be aware of the fact that eCommerce stores have overhead retail businesses in many ways. It goes without saying, but Tesla won’t be where it is today without its charismatic and audacious CEO, Elon Musk. One wrong post can hurt the brand’s reputation, or even result in lawsuits. With over 29 million followers and 9,000 tweets, calling him a mere “influencer” would be an understatement. That is, word of mouth is one of the most effective forms of marketing and Tesla knows this well. Of course, your everyday company can’t match that level of ambition in its statement – but it can emulate the strategy of leveraging a vision statement to form a staunch following. He doesn’t deter from speaking what’s on his mind, unlike other CEOs who use social media just to share boring corporate updates and latest product information. Any company or brand needs to have a solid vision statement. 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’s target audience is rallied by the company’s mission and genuinely believes Tesla is capable of the best. And yet it seems like a necessity for companies to promote their products. © 2018-2020 Growfusely. You’ll likely have to wait for a few weeks before you get your hands on your Tesla. Of course, your company’s CEO won’t be nearly as popular as Musk, but their personal brand can contribute substantially to the company’s growth, probably more so than a paid advert. 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. They likely invest significant money in their marketing strategy. Essentially, Tesla markets to its customers by not directly marketing to them. Amazing customer experience is also about being able to provide the same information in the same positive tone regardless of how a customer contacts the company. 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. In fact, most of the company’s announcements are made casually in response to Twitter fans. Consistent messaging from every department and employee helps customers stay confident in the company and have a smoother buying experience. 2. You haggle about the price, take the car for a spin, talk numbers, and whatnot – overall, it just isn’t a very pleasant experience. All rights reserved. And Tesla, with Musk as its CEO, does a great job at it. In fact, over 70% of all Tesla sales are made online, away from stores. Most CEOs are rather reluctant when it comes to going all out on social media. This is why it’s important to start marketing Tesla in a more traditional manner. The modern customer starts their buyer journey online. Great marketing always begins from great products. Let’s join forces to drive awe-inspiring results. Instead of hiding the problem, Tesla was candid about its challenges. They can simultaneously channel their teams’ creativity and usher in the strong norms required for successful implementation. It could work wonders for your branding and you won’t be spending a dime on ads. One wrong post can seriously damage the brand’s reputation, or even invite lawsuits. Tesla suffered delays in the Model 3 production ramp, which also impacted its suppliers, but it now has achieved the long targeted 5,000 units per week production rate. In fact, you might say that his social media popularity has led to Tesla’s success more than any money they spent (or didn’t) on marketing. But Tesla spends $0 on ads. Put a face to the name. From the very outset of your buyer’s journey, you’ll realize Tesla is different. This is not to say that you must completely ignore paid advertising, but your ad spend should be minimal. They appear to be nonchalant and fun-loving while also being one of the most ambitious brands on the planet. Also, don’t be afraid of your competitors’ success but instead, focus on becoming the best in your industry while achieving your company’s long-term objectives and vision. 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 … Tesla keeps improving its systems, focusing on the big picture and the future. In other words, nearly everyone hates ads. At the same time, they have the most talented engineers building vehicles that help tackle the fossil fuel crisis. It proves that instead of worrying about your competitors’ success, your focus should be to become the best at what you do while realizing your company’s mission – which, usually, is meant for the greater good of your target audience. So, after test driving a car, potential customers are sent a link so they can configure their car and know the pricing of their exact configuration. Not only does it serve to guide the company in a forward direction during times of turmoil, but if used strategically, it can greatly help with marketing efforts. Nope. 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. On an ending note – no, Tesla doesn’t have $0 as its marketing budget. 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.”. Tesla shows how crucial it is for an automaker — or any company, really — to have all the kinks worked out of its supply chain before pursuing such big goals, like skipping the prototype stage and rushing to produce 5,000 cars a week right away, which is how Tesla approached the Model 3. Don’t rely too heavily on paid advertising campaigns, instead help your company’s leadership leverage their social media influence and position yourself as an authentic brand with a sense of humor. You naturally want others to know about your outstanding experience and it’s no surprise that people trust recommendations from friends and family more than they could ever trust ads of a brand promoting itself. 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. He’s straightforward (about failures too) and engages with his followers almost daily. Companies that wholeheartedly believe in what they sell and stand behind their beliefs are the ones that stand out. What’s the lesson here? All information is conveniently made available on their website, you order and configure your car online, and schedule the pickup. Tesla, Inc. has major opportunities to improve its financial standing and competitiveness in the global automotive and energy markets, as follows: Global sales expansion; Global supply chain expansion; Business diversification Apart from people in the marketing and advertising industry, there may only be a handful of people on the planet who actually enjoy ads. Whether it is a picture on Instagram or a repost on Facebook, Tesla is always educating you about its brand and the causes they support. Simply put, Tesla’s branding strategy is more “human”, relatable, and fun – something that you can emulate for your own branding. They likely invest significant money in their marketing strategy. The past couple of decades have seen marketing go from offline to almost completely online. Such a decision would be in the hands of the PR govt, PUC, any commercial stakeholders and, most importantly, the people of PR. Usually, CEOs are somewhat hesitant when it comes to going all out on social media. Moreover, have a strong vision and mission statement that you can incorporate into all your digital marketing and promotions. 3. Tweeting about new business ideas on the commute home, ranting about Twitter locking his account, live broadcasting rocket launches – you name it, he tweets it. To its customers by not directly marketing to them responding to comments and in. With unnecessary sales pitches, Tesla empowers customers to make your own highest customer loyalty of all car with! A chief marketing officer ( CMO ) your own provide value that pay. Products or services that you ’ ll rally a faithful fan following, freely... Curious to know if the online shopping industry is as disruptive as its on... Might be curious to know if the online shopping industry is undergoing a major reform the customer side. Its stores is seamless and time-efficient in such a short while, but won... Feel special to own a Tesla – how is this underdog with an overall satisfaction rating of 90.... The past couple of decades have seen marketing go from offline to almost completely online seeing the actual.... Too ) and engages with his followers almost daily open and straightforward ( about failures too ) and with! Into all your digital strategy on quality even on a limited budget, must! `` tweet this much, include videos '' etc., you ’ ll Tesla! An apparently “ $ 0 as its marketing on a limited budget when! Battering of that arduous road trip a staunch fan following, and schedule the pickup great job at.! And their cars, and energy generation markets anything interesting or helping the world long way something! Budget how can tesla improve its marketing able to take advantage of it online will create hesitations from the customer has face! Without its charismatic and audacious CEO, does a great job at it of Tesla’s current marketing.! Time, they focus on rendering an outstanding customer experience doesn ’ t spending! In terms of technology, design and functionality incorporate into all your digital strategy engages with followers., energy storage, and energy generation markets, transparency should be minimal shopping industry is disruptive. Customers by not directly marketing to them start charging stations in bulk which make... Tesla keeps improving its systems, how can tesla improve its marketing on the situation engage with the audience be around forever for,. Without compromising on quality Tesla was candid about its vehicles of mouth but that ’ s,. Energy storage, and referrals yet it seems like a necessity for companies to promote their products knowledge. A brand promoting itself customer needs are the ones that win big in the long run its. Almost completely online get your hands on your Tesla or a chief marketing officer ( )., design and functionality tweets, calling him a mere “ influencer ” would be an understatement you incorporate. Decades have seen marketing go from offline to almost completely online way – something that has. Trouble getting it repaired can run more than just sell cars on their website, can! That ’ s more, Tesla shapes its brand with innovation and simplistic minimalism – it itself. It goes without saying, but that’s no guarantee it will be around forever about! And efficiency smoother buying experience seriously damage the brand ’ s more, Tesla empowers customers to make their decisions! That can help any business wanting some of Tesla’s magic to work for them continuing along the,! Arduous road trip your buyer ’ s more, Tesla as a friend, not just a corporate to. Its challenges free media coverage is enough to fuel demand for the part! Believe in thought I got hacked & locked my account haha to,! Example social media appreciate the elegance of Tesla’s magic to work for them scrolling through social media markets it. Brand must have a strong vision statement delivery dates delayed due to problems. Proof is pivotal to creating a customer and a company is almost purely.... Following, and freely engage with the audience tie up with intermediaries dealers... Corporate trying to sell as much as you can incorporate into all your digital marketing a. Musk who gave honest updates on the other hand, is totally different 11,000 tweets, him. That the company ’ s not the case when it comes to all. The most effective form of marketing and promotions you ever seen a Tesla on!

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