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. Instead of following the usual guidelines of "tweet this much, include videos" etc., you start to make your own. 3) They can go the traditional way of tie up with intermediaries and dealers. The lesson here is that companies that consider post-purchase customer needs are the ones that win big in the long run. But not Elon Musk. Every great brand offers great quality and great products. No bargaining, the price listed is the final price. 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. According to Tesla, it opens these stores in places âpeople regularly visit in a relatively open â¦ Tesla Advertising Strategy. Tesla keeps improving its systems, focusing on the big picture and the future. 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). Also, prices are not negotiated and the purchaser Tesla can be done within five minutes or less on its website. For high performance digital marketing on a limited budget, you must have a strong focus on rendering an outstanding customer experience. 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. 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. One wrong post can seriously damage the brand’s reputation, or even invite lawsuits. Tesla’s target audience is rallied by the company’s mission and genuinely believes Tesla is capable of the best. In this way it can make sure whenever the products are damaged the customer has to face no trouble getting it repaired. 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. Instead, what it means is that the company spends $0 on paid advertising. It will help your company stand out for not only what you do or make, but for what you truly believe in. It lets you and I advertise for them, for free. In fact, you might say that his social media influence has contributed to Tesla’s success more than any money they spent on marketing. In 2006, Elon Musk shared his â Secret Tesla Motors Master Plan (just between you and me)â on the Tesla website. Does Tesla Motors have a great marketing department? With the internet becoming increasingly accessible in recent years, enter digital marketing — […], This is a guest post by AdNabu. So, transparency should be integral to your digital strategy. Most CEOs are rather reluctant when it comes to going all out on social media. 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. 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. They don’t want to wait to get in touch with brands. And, of course, also on building exciting products that you can’t help but crave. Profitable products are the ones that provide value that customers pay for. View all posts by Tim Ferguson, How to Use ClickMeeting to Create a Webinar Flywheel That Builds Momentum. So, how does Tesla do its marketing on a limited budget? The price listed is the final price. Instead, they focus on creating a customer experience that automatically turns customers into fans. Tesla steps into the shoes of its customers by thinking through the entire journey. You haggle about the price, take the car for a spin, talk numbers, and whatnot – overall, it just isn’t a very pleasant experience. Tesla indicated that it would cut about 9% of its global workforce, as Tesla is looking to eke out its first profit. It goes without saying, but Tesla won’t be where it is today without its charismatic and audacious CEO, Elon Musk. 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. They add features like “fart noises” to their cars, while the CEO shares memes on Twitter. Tesla has a great marketing strategy that is based on product quality and efficiency. Tesla and Elon share just about everything with their followers – mostly via Twitter or the company’s blog. Put a face to the name. 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. All information is conveniently made available on their website, you order and configure your car online, and schedule the pickup. As such, any company or brand must have a strong vision statement. Also of note is the companyâs gradual aâ¦ Twitter thought I got hacked & locked my account haha. If your company has a clear vision that resonates with the target audience, you should integrate that message in every piece of marketing material. 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. Companies that believe in what they sell and stand behind their beliefs are the ones that make it big. The main role of a Tesla retail store is provide information about its vehicles. The tweet below from Elon conveys this point perfectly. 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. Would this help the firms to improve its performance? 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. With over 29 million followers and 9,000 tweets, calling him a mere “influencer” would be an understatement. Typically, for the most part, the relationship between a customer and a company is almost purely transactional. Some customers were given outdated contact information. 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 provides incentives to the customers who have contributed a lot to GoPro's USG strategy. 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…. Tesla, instead of changing the whole model, can change the location of the stores. But that’s not the case with Tesla. 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. The popular platform is commonly used to ask questions and find answers on any question in mind. Tesla is said to have built a strong brand identity that requires less promotion and advertising. People will see you as a friend, not just a corporate trying to sell as much as you can. 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. Tesla has saturated the markets where it can legally sell cars. 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. 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. Customers regularly engage with your product after the purchase, which affects their outlook of the company and its service. It doesn’t have any retail dealerships where you need to negotiate with tedious salesmen. And yet it seems like a necessity for companies to promote their products. For example, many customers who pre-ordered the Tesla Model 3 were discouraged to have their delivery dates delayed due to manufacturing problems. 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. 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. Rather than being pushed into a sale, they are given information to make their own decisions, which leads us to the next point…. This is how you’ll rally a staunch fan following, and in turn, a loyal customer base. I think the OP fails to appreciate the elegance of Teslaâs current marketing strategy. This shows Tesla’s ability to embrace competition. 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. 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.. To facilitate that, a strong referral program can really go a long way – something that Tesla has. To many, cars are an extension of their characters. Before you dive into this post, take a look at our brand report on Tesla and its share of voice in the automotive industry. It also arranges different contests to motivate the customers for sharing their videos. The lesson here is to maintain continuous and open two-way communication with your audience. 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. Not really, there’s no marketing team or a chief marketing officer (CMO). He’s straightforward (about failures too) and engages with his followers almost daily. Apart from your core products or services that you’re selling, what else do you have to offer? 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. 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. People trust recommendations from friends and family more than they could ever trust ads of a brand promoting itself. Its products are great in terms of technology, design and functionality. Tesla bought its first factory from General Motors in 2010 and quickly transformed the facility into one of the worldâs most advanced automotive plants. Image Credit: Courtesy of Tesla 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. If you didn’t already know, Elon Musk, in good faith, famously open-sourced all of Tesla’s patents and praised Tesla’s rivals for their progress on electric vehicles. 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. The big question: will Tesla actually succeed with its new model? 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.”. The modern customer starts their buyer journey online. Continuing along the same lines of authenticity, Tesla as a company are blatantly themselves. Customers can easily appreciate that Tesla Motors exists to do more than just sell cars. In fact, over 70% of all Tesla sales are made online, away from stores. While Tesla can be seen as an inspiration to the industry, it also serves as an example of what happens â¦ Usually, CEOs are somewhat hesitant when it comes to going all out on social media. What is Teslaâs marketing strategy? © 2018-2020 Growfusely. All rights reserved. 1. 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. 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. No wonder Tesla has the highest customer loyalty of all car brands with an overall satisfaction rating of 90%. 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. Rather than wasting time with unnecessary sales pitches, Tesla empowers customers to make their own decisions. 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. 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. 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. You order and configure your car online, without even seeing the actual car. In other words, nearly everyone hates ads. As a consequence, there are no tedious salesmen. But Tesla spends $0 on ads. 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. 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. 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. Start With a Vision. 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. Customer experience doesn’t end once the purchase is complete. 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. This social proof is pivotal to creating a brand that’s head and shoulders above the competition. This is how you’ll rally a faithful fan following, and in turn, a loyal customer base. He takes care of all the clients from closing to delivery. Because get this: All these things add up to build a sense of exclusivity that makes you want one even more. And Tesla, with Musk as its CEO, does a great job at it. Great marketing always begins from great products. Download our Tesla SOV brand report now! 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¦ Are you doing anything interesting or helping the world? Not to mention the simplest and most effective form of marketing that results from this strategy – word of mouth. What’s the lesson here? Will your car be able to take the battering of that arduous road trip? Marketing Strategy We will increase the market share of Tesla Motors in the Electronic Vehicle / Hybrid market by 5% over the next 5 years by introducing a lower priced EV, the Tesla Gen3. Essentially, Tesla markets to its customers by not directly marketing to them. 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