Image Credit: Courtesy of Tesla Automotive marketing teams have long understood this bond between people and their cars, and are quick to take advantage of it. Thus, it is a good idea to let the marketing team dedicate a part of their strategy and efforts to work on improving the leadership’s social media presence and authority. Twitter thought I got hacked & locked my account haha. Take a look at our offerings and get in touch with us. Not really, there’s no marketing team or a chief marketing officer (CMO). Instead of following the usual guidelines of "tweet this much, include videos" etc., you start to make your own. You'll also get to see how great your reports can look with our example social media report template. They want the ability to get instant answers to any doubts they may have. It makes you feel special to own a Tesla – a feeling you can’t put a price on. Apparently, Tesla folk don’t really want to sell anything. For example, many customers who pre-ordered the Tesla Model 3 were discouraged to have their delivery dates delayed due to manufacturing problems. Simply put, all these things generate positive brand awareness which ultimately translates into more sales in the long run. The way […]. Instead of hiding the problem, Tesla was candid about its challenges. 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. 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. But not Elon Musk. 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. In fact, most of the company’s announcements are made casually in response to Twitter fans. 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. Facilitate word of mouth marketing by creating compelling referral programs. He’s straightforward (about failures too) and engages with his followers almost daily. It doesn’t have any retail dealerships where you need to negotiate with tedious salesmen. The entire car buying process is seamless and time-efficient. So, the internet provides potential customers with their first impressions of the brand. If you take a good […], When you think of content marketing, Quora is probably not the first thing that comes to mind. Put a face to the name. Whether you’re scrolling through social media or cruising along the highway, ads are a nuisance you can’t escape. 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. Are you a Ferrari or a Lamborghini person? This is why itâs important to start marketing Tesla in a more traditional manner. They likely invest significant money in their marketing strategy. Word of mouth and the free media coverage is enough to fuel demand for the brand. 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. So, if you wish to play your part in helping the environment and accelerate the world’s transition to sustainable energy, but can’t afford one right now, or aren’t sure about the commitment to an electric vehicle, you can “subscribe” to an electric vehicle from startups like Steer. Tim Ferguson is the Director of SEO at Right Mix Marketing,an SEO-focused link building agency that helps startups, small & medium businesses and enterprise clients with custom link building services.. 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. Well, here are the three key lessons you can learn from them: Typically, 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. © 2018-2020 Growfusely. Yet, Tesla name recognition is very high. Thus, it is a good idea to let the marketing team dedicate a part of their strategy and efforts to work on improving the leadershipâs social media presence and authority. Usually, CEOs are somewhat hesitant when it comes to going all out on social media. Tesla is said to have built a strong brand identity that requires less promotion and advertising. You’ll likely have to wait for a few weeks before you get your hands on your Tesla. Let’s join forces to drive awe-inspiring results. 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. View all posts by Tim Ferguson, How to Use ClickMeeting to Create a Webinar Flywheel That Builds Momentum. Tesla recognizes this fact very well. They can tie up with government and start charging stations in bulk which will make their presence everywhere. 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. 1. This enables the company to improve its carsâ software functionality every few weeks. He speaks what’s on his mind, unlike other CEOs who use social media just to share rather uninteresting corporate updates and latest product information. One wrong post can seriously damage the brand’s reputation, or even invite lawsuits. Companies that believe in what they sell and stand behind their beliefs are the ones that make it big. It takes the onus off of Musk and other executives to get Tesla into the news, and ensures that when heâs gone, the electric automaker can still make headlines. Keep in mind this was two years before the car was in production. With over 29 million followers and 9,000 tweets, calling him a mere “influencer” would be an understatement. What’s the lesson here? On an ending note – no, Tesla doesn’t have $0 as its marketing budget. 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. Tesla â boutiquesâ 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 â¦ 3) They can go the traditional way of tie up with intermediaries and dealers. They appear to be nonchalant and fun-loving while also being one of the most ambitious brands on the planet. It goes without saying, but Tesla won’t be where it is today without its charismatic and audacious CEO, Elon Musk. Instead, what it means is that the company spends $0 on paid advertising. He’s open and straightforward (about failures too) and engages with his following almost daily. Tesla’s target audience is rallied by the company’s mission and genuinely believes Tesla is capable of the best. This element of the marketing mix identifies the organizationâs outputs or products sold to target customers. 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 â¦ What’s more, Tesla’s advertising budget is zero. Selling cars online will create hesitations from the customer's side. The tweet below from Elon conveys this point perfectly. 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. 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. You order and configure your car online, without even seeing the actual car. It encourages others, namely customers, to do the selling for them. The lesson here is to maintain continuous and open two-way communication with your audience. Also of note is the companyâs gradual aâ¦ What’s the lesson here? Instead, Tesla focuses on word of mouth advertising, and referrals. Do you prefer a supercharger or a turbocharger? Thus, it is a good idea to let the marketing team dedicate a part of their social media marketing strategy to work on improving the company leadership’s social media presence and authority. 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. 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. According to Tesla, it opens these stores in places âpeople regularly visit in a relatively open â¦ Next, have consistent company messaging across the board, keep your audience in the loop about all updates, and reply to as many followers as you can. For instance, Tesla built a massive network of supercharging stations across the United States and Europe to make it convenient for customers to charge their cars on the move. 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. Well, those who focus on the actual numbers will be aware of the fact that eCommerce stores have overhead retail businesses in many ways. Their mission as a company is to accelerate the world’s transition to sustainable energy, and so, they thought it would be best if other companies use their concepts so long as they help in making that transition happen. Essentially, Tesla markets to its customers by not directly marketing to them. Modern customers are an impatient bunch. With the internet becoming increasingly accessible in recent years, enter digital marketing — […], This is a guest post by AdNabu. Tesla bought its first factory from General Motors in 2010 and quickly transformed the facility into one of the worldâs most advanced automotive plants. 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. 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. You haggle about the price, take the car for a spin, talk numbers, and whatnot – overall, it just isn’t a very pleasant experience. From the very outset of your buyer’s journey, you’ll realize Tesla is different. Essentially, Tesla shapes its brand with innovation and simplistic minimalism – it sets itself apart by doing things differently without compromising on quality. Now, to dive deeper into these points, here are fifteen lessons we can learn from the apparent marketing strategy of Tesla: One of the biggest drivers of Tesla’s success is its focus on providing the best possible customer experience. Customer experience doesn’t end once the purchase is complete. Essentially, these are vehicles that can run more than 200 miles on a battery alone. And Tesla, with Musk as its CEO, does a great job at it. Especially Tesla – how is this underdog with an apparently “$0 marketing budget” able to sell cars for over $100,000? In other words, nearly everyone hates ads. Does Tesla Motors have a great marketing department? In this way, their audience knows where to turn to for the latest updates. Great marketing always begins from great products. As a consequence, there are no tedious salesmen. It can improve retailing strategy by collaborating with service providers like mechanics, part suppliers and sales teams across the countries. Soon, customers witnessed backlogs of Model 3s sitting at assembly plants and wondered why they hadn’t received their cars. The past couple of decades have seen marketing go from offline to almost completely online. Customers regularly engage with your product after the purchase, which affects their outlook of the company and its service. People trust recommendations from friends and family more than they could ever trust ads of a brand promoting itself. So, how does Tesla do its marketing on a limited budget? 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. The lesson here is that companies that consider post-purchase customer needs are the ones that win big in the long run. 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. The price listed is the final price. Every great brand offers great quality and great products. But not Elon Musk. From questions about the appeal of electric vehicles and its leader, Musk, to doubts about its long-term financial viability, Tesla has for years defied skeptics and critics. What is Teslaâs marketing strategy? 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. They can initiate chain of showrooms. It also arranges different contests to motivate the customers for sharing their videos. This is not to say that you must completely ignore paid advertising, but your ad spend should be minimal. And yet it seems like a necessity for companies to promote their products. You, or your CEO, can take a bit more personal approach, and freely engage with the audience. Download our Tesla SOV brand report now! If your company has a clear vision that resonates with the target audience, every marketing material should incorporate that message – in a thoughtful and methodical fashion. Have you ever seen a Tesla ad on TV, in a newspaper, or even on a web site? Tesla operates in the long range EV segment of the market comprised by electric vehicles. For example, the company can expand in the global automobile market to support further business growth. Teslaâs latest updates show that it is improving its efficiency by 3% a year, which is increasing its already impressive lead over the rest of the automotive industry. 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. While nobody outside Tesla has concrete answers for these questions, thereâs certainly a lot we can learn from the way Tesla has stood itself apart as a car brand. Perhaps in your pajamas. You might be curious to know if the online shopping industry is as potent and functional as retail stores. Provide first-class customer service after the sale is complete, be transparent about your problems, and be bold enough to create some controversial content. Nope. Tesla and Elon share just about everything with their followers – mostly via Twitter or the company’s blog. Their strategy is a force to emulate and with a few simple changes, you can put your brand on the same marketing fast-track as Tesla. In the decade since, the firm has quickly expanded in the US with large custom-built car, battery and solar panel plants - or "Gigafactories" - in Nevada and New York, and has recently broken ground on a further facility in Texas. Companies that wholeheartedly believe in what they sell and stand behind their beliefs are the ones that stand out. On an ending note â no, Tesla doesnât have $0 as its marketing budget. Take a bit more personal approach, freely engage with your audience, and it could be all the marketing you’ll ever need (but don’t go overboard). 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. Tesla has a great marketing strategy that is based on product quality and efficiency. And that’s quite understandable – they have to be extremely cautious about what they’re posting as they’re the face of the company, so to speak. Tesla distinguishes itself with a strong online presence, with countless press mentions and millions of followers across the social web. 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. It lets you and I advertise for them, for free. Tesla indicated that it would cut about 9% of its global workforce, as Tesla is looking to eke out its first profit. Any company or brand needs to have a solid vision statement. Authenticity is how you correctly connect with your audience, and controversy is how you expand your audience. Tesla has 17 stores worldwide (ACWI) to sell its cars. The customers can easily contribute to the company's strategy because they don't have to â¦ 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. Before you dive into this post, take a look at our brand report on Tesla and its share of voice in the automotive industry. Now, vision statements don’t get much stronger than that of Tesla: “To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.”, And Tesla’s mission is to “accelerate the world’s transition to sustainable energy.”. Tesla has saturated the markets where it can legally sell cars. They likely invest significant money in their marketing strategy. They don’t want to wait to get in touch with brands. Because get this: All these things add up to build a sense of exclusivity that makes you want one even more. The company uses product development to fulfill corporate objectives in this 4P variable. But if not, you can still benefit from Tesla in an unexpected way. 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. It could work wonders for your branding and you won’t be spending a dime on ads. The Tesla team has done this for many smaller islands around the world, but there is no scalability limit, so it can be done for Puerto Rico too. Profitable products are the ones that provide value that customers pay for. Furthermore, on their website, customers can comfortably get all the information in one place and are empowered through a seamless digital experience. In this business analysis case, Teslaâs products are within the automotive, energy storage, and energy generation markets. Will your car be able to take the battering of that arduous road trip? 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