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. Twitter thought I got hacked & locked my account haha. Instead, Tesla focuses on word of mouth advertising, and referrals. 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. Tesla’s target audience is rallied by the company’s mission and genuinely believes Tesla is capable of the best. Tesla has come so far in such a short while, but thatâs no guarantee it will be around forever. It goes without saying, but Tesla won’t be where it is today without its charismatic and audacious CEO, Elon Musk. 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. Moreover, have a strong vision and mission statement that you can incorporate into all your digital marketing and promotions. As a consequence, there are no tedious salesmen. What’s more, Tesla’s advertising budget is zero. So, transparency should be integral to your digital strategy. Teslaâs marketing strategy is as disruptive as its business model. 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. For example, the company can expand in the global automobile market to support further business growth. 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. The price listed is the final price. For example, many customers who pre-ordered the Tesla Model 3 were discouraged to have their delivery dates delayed due to manufacturing problems. Typically, for the most part, the relationship between a customer and a company is almost purely transactional. It will help your company stand out for not only what you do or make, but for what you truly believe in. Tesla indicated that it would cut about 9% of its global workforce, as Tesla is looking to eke out its first profit. Soon, customers witnessed backlogs of Model 3s sitting at assembly plants and wondered why they hadn’t received their cars. The popular platform is commonly used to ask questions and find answers on any question in mind. Tesla shows how crucial it is for an automaker â or any company, really â 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. 3. In 2006, Elon Musk shared his â Secret Tesla Motors Master Plan (just between you and me)â on the Tesla website. 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. You order and configure your car online, without even seeing the actual car. 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. An excellent experience builds a sense of exclusivity and makes you want to spread the word about the company, which leads us to the next point…. Apart from people in the marketing and advertising industry, there may only be a handful of people on the planet who actually enjoy ads. They likely invest significant money in their marketing strategy. With over 34 million followers and 11,000 tweets, calling him a mere “influencer” would be an understatement. They likely invest significant money in their marketing strategy. With the internet becoming increasingly accessible in recent years, enter digital marketing — […], This is a guest post by AdNabu. It could work wonders for your branding and you won’t be spending a dime on ads. Every year, in the auto industry alone, billions of dollars are spent on advertising alone. 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. 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. What’s the lesson here? Would this help the firms to improve its performance? 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. He’s straightforward (about failures too) and engages with his followers almost daily. The lesson here is that companies that consider post-purchase customer needs are the ones that win big in the long run. Teslas are not yet 100% green, but extreme public scrutiny of the companyâs manufacturing processes will force Tesla to continue to improve its overall sustainability if it intends to retain its edge. 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. Tesla bought its first factory from General Motors in 2010 and quickly transformed the facility into one of the worldâs most advanced automotive plants. 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. And, of course, also on building exciting products that you can’t help but crave. It encourages others, namely customers, to do the selling for them. You haggle about the price, take the car for a spin, talk numbers, and whatnot – overall, it just isn’t a very pleasant experience. Put a face to the name. 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. The company uses product development to fulfill corporate objectives in this 4P variable. They don’t want to wait to get in touch with brands. The entire car buying process is seamless and time-efficient. Most CEOs are rather reluctant when it comes to going all out on social media. What is Tesla’s marketing strategy? No wonder Tesla has the highest customer loyalty of all car brands with an overall satisfaction rating of 90%. Continuing along the same lines of authenticity, Tesla as a company are blatantly themselves. Tesla keeps improving its systems, focusing on the big picture and the future. Also of note is the companyâs gradual aâ¦ 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. They want the ability to get instant answers to any doubts they may have. According to Tesla, it opens these stores in places âpeople regularly visit in a relatively open â¦ One wrong post can hurt the brand’s reputation, or even result in lawsuits. 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 Tesla can be seen as an inspiration to the industry, it also serves as an example of what happens â¦ Here are four marketing lessons that can help any business wanting some of Teslaâs magic to work for them. This is not to say that you must completely ignore paid advertising, but your ad spend should be minimal. Do you prefer a supercharger or a turbocharger? But not Elon Musk. I think the OP fails to appreciate the elegance of Teslaâs current marketing strategy. That is, word of mouth is one of the most effective forms of marketing and Tesla knows this well. Take a look at our offerings and get in touch with us. Also, honest tweets from your company’s CEO likely hold far greater value than 30-second paid ads on YouTube, which brings us to the next point…. It makes you feel special to own a Tesla – a feeling you can’t put a price on. At the same time, they have the most talented engineers building vehicles that help tackle the fossil fuel crisis. If you take a good […], When you think of content marketing, Quora is probably not the first thing that comes to mind. To many, cars are an extension of their characters. 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. 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. Great marketing always begins from great products. 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. But if not, you can still benefit from Tesla in an unexpected way. The customers can easily contribute to the company's strategy because they don't have to â¦ Instead, they focus on creating a customer experience that automatically turns customers into fans. Tesla recognizes this fact very well. 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. 1. People trust recommendations from friends and family more than they could ever trust ads of a brand promoting itself. From the very outset of your buyer’s journey, you’ll realize Tesla is different. Ultimately, people would appreciate that fact and prefer your brand over competitors. Companies that believe in what they sell and stand behind their beliefs are the ones that make it big. It lets you and I advertise for them, for free. It needs to increase market share in states that have banned its stores. Authenticity is how you correctly connect with your audience, and controversy is how you expand your audience. You’ll likely have to wait for a few weeks before you get your hands on your Tesla. This is why itâs important to start marketing Tesla in a more traditional manner. If your company has a clear vision that resonates with the target audience, you should integrate that message in every piece of marketing material. 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. 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. 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. All information is conveniently made available on their website, you order and configure your car online, and schedule the pickup. In fact, most of the company’s announcements are made casually in response to Twitter fans. 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.”. He takes care of all the clients from closing to delivery. You must make sure this is not the case with your company. View all posts by Tim Ferguson, How to Use ClickMeeting to Create a Webinar Flywheel That Builds Momentum. The main role of a Tesla retail store is provide information about its vehicles. 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. Download our Tesla SOV brand report now! Marketers can actually leverage this to provide wide audiences with knowledge about the product or service that they’re selling. 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. 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. Will your car be able to take the battering of that arduous road trip? 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. Are you a Ferrari or a Lamborghini person? It also arranges different contests to motivate the customers for sharing their videos. The big question: will Tesla actually succeed with its new model? 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. 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. 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. What is Teslaâs marketing strategy? But that’s not the case with Tesla. Let’s join forces to drive awe-inspiring results. 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. 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 “$0 marketing budget” story is great marketing itself. © 2018-2020 Growfusely. For high performance digital marketing on a limited budget, you must have a strong focus on rendering an outstanding customer experience. In fact, you might say that his social media influence has contributed to Tesla’s success more than any money they spent on marketing. Tesla has 17 stores worldwide (ACWI) to sell its cars. The AEC firms should look into the use of the B2C approach to determine which can be used for the betterment of the AEC Industry. Essentially, Tesla shapes its brand with innovation and simplistic minimalism – it sets itself apart by doing things differently without compromising on quality. Your focus should be on providing amazing customer experience and creating the best possible products in your niche which, with the help of content marketing, sell themselves. Selling cars online will create hesitations from the customer's side. Long story short, customers are more inclined to bear with delays and issues if they understand what’s really happening behind the scenes. It provides incentives to the customers who have contributed a lot to GoPro's USG strategy. This is how you’ll rally a staunch fan following, and in turn, a loyal customer base. 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. 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¦ Because get this: All these things add up to build a sense of exclusivity that makes you want one even more. Have you ever seen a Tesla ad on TV, in a newspaper, or even on a web site? If you want to inquire about link building services of Right Mix Marketing, you can get in touch with Tim on email@example.com And Tesla, with Musk as its CEO, does a great job at it. Automotive marketing teams have long understood this bond between people and their cars, and are quick to take advantage of it. But not Elon Musk. They appear to be nonchalant and fun-loving while also being one of the most ambitious brands on the planet. 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. Well, those who focus on the actual numbers will be aware of the fact that eCommerce stores have overhead retail businesses in many ways. The modern customer starts their buyer journey online. 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.. But that’s not the case when it comes to Tesla and its customers. Not really, there’s no marketing team or a chief marketing officer (CMO). 2. Customers regularly engage with your product after the purchase, which affects their outlook of the company and its service. To facilitate that, a strong referral program can really go a long way – something that Tesla has. Modern customers are an impatient bunch. Keep in mind this was two years before the car was in production. In this business analysis case, Teslaâs products are within the automotive, energy storage, and energy generation markets. Whether you’re scrolling through social media or cruising along the highway, ads are a nuisance you can’t escape. This social proof is pivotal to creating a brand that’s head and shoulders above the competition. Also, prices are not negotiated and the purchaser Tesla can be done within five minutes or less on its website. And yet it seems like a necessity for companies to promote their products. Consistent messaging from every department and employee helps customers stay confident in the company and have a smoother buying experience. Image Credit: Courtesy of Tesla Essentially, Tesla markets to its customers by not directly marketing to them. They can initiate chain of showrooms. Companies that wholeheartedly believe in what they sell and stand behind their beliefs are the ones that stand out. In fact, over 70% of all Tesla sales are made online, away from stores. 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. Tesla has saturated the markets where it can legally sell cars. Perhaps in your pajamas. Many customers reported receiving conflicting information from different Tesla employees. In this way it can make sure whenever the products are damaged the customer has to face no trouble getting it repaired. One wrong post can seriously damage the brand’s reputation, or even invite lawsuits. No bargaining, the price listed is the final price. 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. People will see you as a friend, not just a corporate trying to sell as much as you can. 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. 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. Tesla Advertising Strategy. And so, from the beginning, Tesla has had a solid referral program that further motivates customers to share their great experiences with the company and its products. You haggle about the price, take the car for a test drive, and talk some numbers – overall, it’s a time-consuming and not a very pleasant experience. 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