On Tesla’s website, Elon Musk revealed his “Secret Tesla Motors Master Plan (only between you and me).” in 2006. This was two years before the car’s release. In it, Elon shares a bit about himself and what he’s been working on but spends most of the article going over environmental concerns and how he plans to develop and scale transportation that is energy positive. Although the initial release will be the expensive Tesla Roadster, Elon goes on to say:
Without giving away too much, I can say that the second model will be a sporty four door family car at roughly half the $89k price point of the Tesla Roadster and the third model will be even more affordable. In keeping with a fast growing technology company, all free cash flow is plowed back into R&D to drive down the costs and bring the follow on products to market as fast as possible. When someone buys the Tesla Roadster sports car, they are actually helping pay for development of the low cost family car.
‘The overarching objective of Tesla Motors (and the reason I am backing the company) is to help accelerate the transition from a mine-and-burn hydrocarbon economy to a solar electric economy, which I believe to be the primary, but not exclusive, sustainable answer,’ Elon wrote in his essay.
This is an intriguing and one-of-a-kind vision. Unlike other vehicle businesses at the time (and still), Tesla’s goal was not to produce cars that were incrementally better than the previous year’s. Elon’s concept was updated in 2016 with the release of ‘Master Plan Part Deux.’
Sharing this idea with the rest of the world provided the brand both a goal and a personality. It made the general people feel directly invested in the voyage and encouraged them to follow it. It also piqued people’s interest in the things Musk was promoting.
Here are some overarching theme’s of Tesla’s Master Plan and the reputation Tesla has garnered from them.
Face Your Obstacles
This energizing start, however, was not without flaws. Concerns have been raised about the company’s finances, capacity to construct automobiles on a large scale, delivery delays, and Musk’s public comments throughout the years.
Tesla and Elon Musk, on the other hand, have a knack for immediately acknowledging and addressing complaints on social media.
Musk is known for responding to tweets from both reviewers and Tesla owners who provide suggestions for improvement. This demonstrates that they are paying attention and are willing to accept comments. It increases customer loyalty and strengthens the brand’s reputation. It also adds a layer of excitement for Tesla owners who have a direct route to the company’s CEO with whom they can share ideas.
Preventative Measures
A new customer’s connection with the vehicle’s manufacturer does not begin with the purchase of a new car. A new customer is frequently enticed to choose a dealer for repairs as part of the purchase. This is an excellent marketing technique because it boosts income for traditional automakers.
Tesla increased its service offering as an electric vehicle manufacturer. Tesla owners would be obliged to have their automobiles serviced by Tesla Motors due to the revolutionary nature of each Tesla vehicle.
Tesla Rangers, a mobile service crew that visits Tesla owners at home, was created to eliminate the inconvenience of having to visit and wait at a dealership for repairs. This strategy is another stroke of brilliance for Tesla marketing, as all other vehicle owners witness the Tesla vehicle being taken care of in a comfortable manner. This not only increases brand loyalty, but it also piques the interest of future customers.
Charging Station for Tesla
Tesla’s marketing approach also includes the establishment of Tesla Superchargers, which are Tesla’s own charging stations. The Supercharger stations, with their future appearance and lack of staff, provide a futuristic piece of real-world advertising. When a Tesla owner arrives at a charging station, they plug in for roughly 30 minutes and receive a notification from the Tesla app when the vehicle is ready to drive.
Traditional advertising spends billions of dollars attempting to capture the consumer’s attention. Telsa has a bread strategy that directs attention to the consumer.
Make a Unique Selling Proposition
Other traditional automakers’ marketing strategies are diametrically opposed to Tesla’s. Tesla, on the whole, avoids paying for advertising. This is remarkable when you consider the $11 billion dollars spent on marketing by other vehicle companies each year. This may appear to be a counterproductive branding tactic, yet it has had no impact on Tesla’s brand awareness.
Furthermore, Tesla performs little social media marketing, with the exception of Elon Musk’s rare promotional Tweets. Tesla’s Facebook profile was famously shut down in March 2019.
The way Tesla sells its vehicles is one significant element of differentiation that makes it stand out. Tesla does not sell automobiles through dealerships. Instead, showrooms are built up in retail malls. A wide range of automobiles are available for test drives at each site. Inside the showrooms, each car’s innovation is on full display.
Tesla’s retail store
Tesla Motors’ upscale stores in shopping centers appeal to the general population.
This is basic marketing: go where your clients are already present. People notice the store as they wander around shopping malls buying other things, and awareness of the brand grows over time. This is something that any firm can do by figuring out how to go where their customers congregate. Customers are more likely to desire to know what’s on offer if it’s there in front of them.
Demonstrate a Little Personality
Elon Musk, the Tesla CEO, is inextricably linked to the Tesla brand. The corporation benefits greatly from the iconic character of the “real-life Tony Stark.” Like Steve Jobs with Apple, the leader’s public image has a significant impact on the company’s success.
The use of humor in Tesla’s marketing is one way Elon brings brand personality to the company.
It wasn’t a stuffy corporate announcement when Tesla declared that they will give all patents to the public in order to further the development of electric automobiles. Instead, a parody of an online meme titled “All our patent are belong to you” was used as the headline.
Elon Musk frequently uses Twitter to make jokes and communicate his personal thoughts about the Brand’s growth.
This ability to use comedy in your marketing is a wonderful method to build customer trust. It demonstrates that you are a human being who wants to enjoy the time you spend helping them.
Of course, there are limits to how liberated you may be with your social media messages. Elon Musk has been chastised and even fined $40 million for revealing material that was not permitted by the board of directors. It’s a good idea to strike a balance between your brand’s levity and personality and the company’s basic beliefs.
Pushing the Limits
Tesla has long been known for being a leader in the electric vehicle industry. Tesla, on the other hand, had primarily focused on non-commercial vehicles until 2017. All of that would change with the launch of the Tesla Semi. The goal was to create the first electric transport truck in the world. Tesla sought to make semi-trucks genuinely look stylish, in addition to providing innovation to an industry that is critical to global commerce. The driver’s cabin included centered steering wheels and control panels, as well as autopilot.
The 2019 Cybertruck, which Elon Musk had mentioned at as early as 2012, was another unexpected reveal. Tesla made the announcement in November 2019, on the same day and in the same place as the original Blade Runner film. The truck’s design was drastically different from what had been expected (even ‘leaked’ design photos did not match the final product).
Despite the fact that the Cybertruck’s design is bound to irritate some buyers, it received over 250,000 preorders just a week after its unveiling.
Elon Musk is a billionaire entrepreneur. The Tesla Semi and Roadster have been revealed.
Innovation is at the heart of the Tesla brand. They are advancing the idea of what an electric car and mode of transportation might look like in the future. The automotive industry has been drastically transformed by their goal of driving the planet with renewable energy. The audience will find this both motivating and fascinating.
Tesla’s brand recognition has only grown as its target market shifts from luxury vehicles to more affordable electric cars and trucks. Tesla has avoided advertising and a competitive price approach since CEO Elon Musk’s attractive personality is inextricably linked to the brand.
In 2020, the price of Tesla’s stock will rise.
Tesla’s stock price increased by over 700 percent in 2020, giving it a market capitalization of over $800 billion.
With the Tesla Semi, Cybertruck, and a redesigned next-generation Tesla Roadster on the way, it’s evident that Tesla will continue to rule the electric car industry far into the 2020s and beyond.
Telsa customers are among the most devoted in the industry. They excitedly place preorders two years in advance, and they are walking billboards for the company’s innovation. These Tesla marketing lessons may be applied to any company looking to have a positive effect on the world.
