's Marketing Strategy

5 Things to Learn from Tesla’s Marketing Strategy

    Ever wondered how a company with $0 marketing budget makes headlines every day?

Tesla, America’s most valuable carmaker and parent company to SolarCity, the US’ biggest solar distributor, has an overwhelming fan base that creates homemade videos for their favourite brand. A kind of enthusiasm that has even intrigued a 10-year-old student to send a letter to Tesla.

Related: Project Loveday 

‘’Tesla Motors Inc. has no advertising, no ad agency, no CMO, no dealer network. And that’s no problem.’’ – AdvertisingAge (Via ReferralCandy)

Have you ever thought why would more than 350,000 people put down $1,000 deposits upon the announcement of Tesla’s new Model 3 last year? You’ve come to the right place. Here’s why Tesla’s marketing strategy is a model worthy of following!

  1.       Sell More than a Product – Emotional Attachment is Key

It’s true that Tesla sells diverse products; all-electric cars, solar panels, solar batteries, and other solar-powered products. The innovative company doesn’t only focus on its products, but on the overall experience, they provide their customers. As described by ReferralCandy, ”Tesla’s sells you a slice of the future.”

The company’s brilliant strategy completely takes you on a trip to an advanced future where gasoline is ancient history. That kind of marketing sticks in the minds of its recipients and attributes greatly to consumer preferences.

  1.       Keep Your Audience in the Loop

Tesla and its CEO practically share everything with their fans; either via Twitter or the company’s blog. That way, consumers know where to turn to, always. Most of the company’s announcements are made spontaneously in reply to Twitter followers. What we can conclude from Tesla’s experience is that maintaining an open two-way communication door to receiving feedback and respond to comments and complaints is essential to creating a strong fan base.

  1.  Generate Ground-Breaking Ideas

While audience engagement is essential, remember it has to be based on mind blowing ideas and creative concepts to inspire the media talks. One doesn’t do without the other. Tesla’s marketing might not be paid for, but it is surely earned through the team’s extensive work and contributions to the energy sector.  For example, in March 2016, Tesla’s CEO announced the unveil of Model 3, the company’s most affordable car yet, and the beginning of reservation, in the presence of his audience. Talk about successful marketing.

  1.       Realize the Importance of Communication and Media Appearances

Do it like Elon. The company’s CEO realizes the significance of having various interviews, being active on social media platforms, and cameo appearances; The Big Bang Theory, Iron Man, and The Simpsons. If you Google ‘Elon Musk interview’, ‘favourite books’ or even ‘quotes’, you’ll always get recent results. One of the many advantages of having a proactive media presence is that journalists will never cease to find material to write about you, thus, exposure for you and your company!

  1.        Embrace Competition

   Tesla went as far as releasing their open-sourced secrets of how to produce the car in good faith. This demonstrates Tesla’s ability to embrace competition and prove that innovation is key to a clean competition.

Tesla has open sourced its patents back in 2014, after being in fear of competition for so long, they simply decided it was ‘’silly’’ to think so. They started working toward a better a goal, their mission as a company, which is accelerating the world’s transition to sustainable energy. Therefore, they allowed other companies to use their concepts as long as they help in making that transition.

 

   So, in a nutshell, to advance  your business’s marketing game; be passionate about what you even do and always maintain a positive attitude, don’t dodge the cameras or negative comments you receive on social media, be personal and emotional whilst sending out your messages, trust your products and potential and lastly, have a witty sense of humor.

 

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