One tweet by SpaceX and Tesla CEO Elon Musk can fluctuate the cryptocurrency market and stocks of many companies. This shows the influence of the founders of giant companies on the whole world's economy. With Tesla, one thing is sure that executives should come online and become the face of their company on social media platforms. Elon Musk is one of the most influential businessmen who knows how exactly social media marketing works. In this article, we will discuss Tesla's Marketing Strategy, how it began and why it is essential for the company's founder to be the face of the company on social media.
1. Why is Executive Face Important Online? Tesla Marketing Strategy
One tweet by SpaceX and Tesla CEO Elon Musk can fluctuate the cryptocurrency market and
stocks of many companies. This shows the influence of the founders of giant companies on the
whole world's economy. With Tesla, one thing is sure that executives should come online and
become the face of their company on social media platforms. Elon Musk is one of the most
influential businessmen who knows how exactly social media marketing works. In this article, we
will discuss Tesla's Marketing Strategy, how it began and why it is essential for the company's
founder to be the face of the company on social media.
0$ Social Ad Budget of Tesla
Tesla and SpaceX have become household names because of a massive shift from the
traditional approach of print social and video advertising that most companies employ
promotional marketing is bread and butter of the automobile world; however, Tesla was a little
bit of an oddity in this field earlier this year brand total reported that Tesla $0 social ad budget
over 30 days. This report analyzed some of the largest car manufacturers in the world and
looked at all the paid and organic social campaigns. From this data, we can see that Facebook
is the main money sink foremost of the auto brands, with YouTube and Instagram not far
behind. However, we know the outlier tesla responded to unpaid social advertising towards the
bottom. This is a revealing clue that Tesla takes towards marketing. The company envies
brands worldwide because they seem to have mastered reaching a worldwide audience with a
minimum traditional marketing budget. Companies worldwide spend billions the year trying to
figure out how to engage audiences and encourage them to buy their product.
So what makes Tesla unique, and why hasn't the market been set? Or how do Ford been able
to replicate such a result even though Tesla doesn't invest in the social campaign? Why do we
still see Musk's face?
Tesla logo or a SpaceX launch continuously plastered across screens. It can be primarily
pinned down to how Tesla's marketing team has well and truly figured out the free media
promotion equation.
If you give the media an exciting story to tell, they will reward you with free publicity.
Musk's media team has provided countless examples of this equation in action.
After Hurricane Maria knocked out the power for 3.5 million Puerto Rico residents who left him
without resources like running water, Tesla was one of the first companies to step out and
attempt to address the disaster pledging to help install battery packs and repair solar panels on
the island. Musk tweeted that Tesla had about 11000 projects underway in Puerto Rico, with
employees working hard to install them in hundreds of civic and residential buildings. The
governor of Puerto Rico tweeted back asking to talk further with Musk, which resulted in it being
retweeted thousands of times and the story being picked up on international news worldwide.
2. Another tactic in the marketers' toolbox is the CEO; however, this can be either the bitter
sharpest or the bluntest tool available, depending on the company.
Luckily for Tesla, Elon Musk may be one of the most marketable CEOs out there. Musk's
personal Twitter has developed a strong engage following of 62.5 million followers. A steady
stream of tweets allows Musk to speak his mind, often sharing the company's success goals
and failures, personifying the company brand in real-time compared to other major automobile
companies. Tesla is a company of today.
Tesla has recently topped Instagram as the fastest-growing brand in the world. According to
London-based company brand finance, this shouldn't be too surprising. After all, they have
positioned themselves well in some of the fastest-growing and most popular industries like
electric vehicles and sustainable energy, and even space travel.
They are being led by an outspoken media-savvy polarizing leader, Elon Musk, who is also
known as a walking talking marketing machine.
So, while their business growth may not be that surprising, what is shocking is Elon Musk, and
other tesla insiders claim that Tesla does not do advertising. And yet they have still managed to
grow 64.9 percent just in the last year alone.
How did Elon Musk and Tesla become the fastest growing brand globally without
advertising?
3. Well, the first thing you need to understand unpacking Elon Musk and Tesla's claim is
understanding that advertising does not equal marketing. Instead, advertising is just one small
part of marketing and in Tesla's tiny nonexistent part, but that doesn't mean that the company
doesn't do marketing. Tesla is one of the experts in marketing as, under the marketing umbrella,
there are tons of other things like content marketing, social media marketing, public relations,
and many more. All of these are marketing tools that Tesla uses, and all of them cost some
time, money, and energy.
For instance, when Tesla launched their rocket into space and they sent a Tesla roadster for the
ride well, that was where they did marketing.
Marketing that just happened cost just under 100 million dollars.
Now, this little trip to space was not advertised at all. But it did include elements of content
marketing, social media marketing, and public relations. When it comes to finding new, creative,
and innovative ways to get attention and marketing, that isn't advertising.
Here comes the most surprising fact. Tesla is not alone; in fact, several other prevalent and
well-known businesses spend very little or nothing at all on advertising companies like Google,
Netflix, amazon, apple, Facebook, and Uber. These companies have built massive empires on
marketing but not necessarily on paid advertising.
We will look at what was the core of their marketing strategies but worst, let's tackle and answer
the question that:
What's wrong with advertising anyway?
When it comes to launching a new brand or a new business, the traditional way is to create
something and spend a ton of money on advertising and try to reach as many people as
possible when this is done right, and when it's paired with an actual good product or good
service. This traditional approach can be pretty practical, and the problem is this approach is
made right. And more often than not, advertising dollars and simply throwing money at the trial
are spent instead of time on strategic thinking and creativity. This is where the famous John
Wanamaker quote comes in, "half the money I spend advertising is wasted. The trouble is, I
don't know which half," And in today's day and age, that is simply unacceptable.
While there are turn-off places that advertise and go wrong very quickly, a large portion of this
waste simply comes down to optimizing for the wrong variable, such as spending money to try
to get likes, comments, shares or merely trying to reach as many people as possible, or simply
try to improve metrics like brand recall which is just how many people remember you. At the end
of the day, it’s not how many people remember you; what matters is how many people buy from
you. Marketing's job always has and always should be first and foremost to make sales. If your
marketing isn't making sales, not bringing in new revenue, or not making you money, then it's
simply not working, and Tesla's marketing strategy is definitely working.
4. So if Elon Musk and the whole Tesla team aren't focused on advertising, what are they doing
instead?
First of all, tesla is an excellent product, and they are obsessive about making a great product or
even better. They are obsessively focused on their customer or end customer. Tesla customers
love the brand and love the company. How do we know this? Customers write about it, and they
talk about it and tell everyone that they know about just how great the product is.
Now let's talk about Apple. Innovation is at the core of what they do, and they are always trying
to make the product better, faster, and more exciting than their previous product.
So, what we learn as the principle of marketing from Apple or Tesla are:
1. Make a great product with an outstanding USP.
2. to tell everyone about that product.
Most business entrepreneurs try to gain attention regarding their products, but this never works
out. Anything less, you focus on creating an outstanding product.
Elon Musk- The Integral Part
5. Tesla almost has baked-in marketing aspects to it with alone and his personality. He can also
leverage his brand that he has spent years building up before getting into Tesla. Because Elon
Musk is so polarizing and outspoken, it makes it easy for him to get a ton of attention. In short,
Elon Musk is synonymous with Tesla. Like Steve Jobs was synonymous with Apple, or Bill
Gates was synonymous with Microsoft. Essentially, when one of these enormous personalities
does or says something, it forms a two-part effect where not just the personal brand gets the
attention but also the business.
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6. Title: Why is Executive's Face important in Social Media Marketing?
Description: The best social media strategy these days is promoting a brand using the executive's
face on social media marketing. Tesla CEO Elon Musk's marketing strategy is almost similar.