Tesla, Inc. has major opportunities to improve its financial standing and competitiveness in the global automotive and energy markets, as follows: Global sales expansion; Global supply chain expansion; Business diversification Essentially, Tesla markets to its customers by not directly marketing to them. Interested in discussing marketing campaign for your website? 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. 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 your company has a clear vision that resonates with the target audience, you should integrate that message in every piece of marketing material. This is how you’ll rally a staunch fan following, and in turn, a loyal customer base. So, the internet provides potential customers with their first impressions of the brand. Rather than wasting time with unnecessary sales pitches, Tesla empowers customers to make their own decisions. 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. Customers can easily appreciate that Tesla Motors exists to do more than just sell cars. The modern customer starts their buyer journey online. Tesla has saturated the markets where it can legally sell cars. Do you prefer a supercharger or a turbocharger? Are you a Ferrari or a Lamborghini person? With over 34 million followers and 11,000 tweets, calling him a mere “influencer” would be an understatement. 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. But not Elon Musk. For example, the company can expand in the global automobile market to support further business growth. From the very outset of your buyer’s journey, you’ll realize Tesla is different. 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. To many, cars are an extension of their characters. So, how does Tesla do its marketing on a limited budget? 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. This element of the marketing mix identifies the organizationâs outputs or products sold to target customers. 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. Because get this: All these things add up to build a sense of exclusivity that makes you want one even more. Great marketing always begins from great products. After thinking of other companies as a competition for about a decade, the company simply decided it was ‘’silly’’ to think like that. Any company or brand needs to have a solid vision statement. Authenticity is how you correctly connect with your audience, and controversy is how you expand your audience. This hasn’t been a strong point of Tesla as some of the major complaints of new car owners come from Tesla’s distribution strategy and delivery process. The price listed is the final price. 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. 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. Some customers were given outdated contact information. Also, prices are not negotiated and the purchaser Tesla can be done within five minutes or less on its website. As such, any company or brand must have a strong vision statement. 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. But that’s not the case with Tesla. 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. 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. Tesla, instead of changing the whole model, can change the location of the stores. 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. They appear to be nonchalant and fun-loving while also being one of the most ambitious brands on the planet. Tesla has 17 stores worldwide (ACWI) to sell its cars. What is Teslaâs marketing strategy? So while competitors shell out hundreds of thousands of dollars for a 30-second commercial to play during a sports event, Tesla sits back and lets their fans (many of whom are extremely influential) make (and promote) these videos for them. In this way it can make sure whenever the products are damaged the customer has to face no trouble getting it repaired. Selling cars online will create hesitations from the customer's side. 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…. 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. You’ll likely have to wait for a few weeks before you get your hands on your Tesla. However, Tesla can still sell its vehicles online in these regions, as the regulations bar Tesla only from direct sales in these regions. What’s the lesson here? 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. You order and configure your car online, without even seeing the actual car. 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. Tesla’s target audience is rallied by the company’s mission and genuinely believes Tesla is capable of the best. Put a face to the name. Marketers can actually leverage this to provide wide audiences with knowledge about the product or service that they’re selling. Soon, customers witnessed backlogs of Model 3s sitting at assembly plants and wondered why they hadn’t received their cars. 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.. They likely invest significant money in their marketing strategy. Not only does it help guide the company in a forward direction during testing times, but when used strategically, it can greatly support all marketing efforts. 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. And yet it seems like a necessity for companies to promote their products. With the internet becoming increasingly accessible in recent years, enter digital marketing — […], This is a guest post by AdNabu. The entire car buying process is seamless and time-efficient. 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. 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. Simply put, Tesla’s branding strategy is more “human”, relatable, and fun – something that you can emulate for your own branding. 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. 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. Take a look at our offerings and get in touch with us. It goes without saying, but Tesla won’t be where it is today without its charismatic and audacious CEO, Elon Musk. Its products are great in terms of technology, design and functionality. To facilitate that, a strong referral program can really go a long way – something that Tesla has. Tesla distinguishes itself with a strong online presence, with countless press mentions and millions of followers across the social web. Instead of hiding the problem, Tesla was candid about its challenges. Would this help the firms to improve its performance? And this sustainable leadership approach is becoming a model for businesses that want to compete in the market place by achieving long-term profits while conserving the resources of the planet and contributing to building a sustainable society. Tesla operates in the long range EV segment of the market comprised by electric vehicles. 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. This is how you’ll rally a faithful fan following, and in turn, a loyal customer base. Such a decision would be in the hands of the PR govt, PUC, any commercial stakeholders and, most importantly, the people of PR. 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. In this business analysis case, Teslaâs products are within the automotive, energy storage, and energy generation markets. 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 ⦠Teslaâs marketing strategy, then, goes against the trend of developing TV advertisements and pushing its products onto consumers. One wrong post can seriously damage the brand’s reputation, or even invite lawsuits. They likely invest significant money in their marketing strategy. Instead, Tesla focuses on word of mouth advertising, and referrals. 2. This is why itâs important to start marketing Tesla in a more traditional manner. Are you doing anything interesting or helping the world? All information is conveniently made available on their website, you order and configure your car online, and schedule the pickup. So if there is an automaker that can sell its cars using an online-only model, Tesla would seem to be it. Essentially, these are vehicles that can run more than 200 miles on a battery alone. Tesla and Elon share just about everything with their followers – mostly via Twitter or the company’s blog. By the way, there’s a subscription model for practically everything nowadays – including electric vehicles. View all posts by Tim Ferguson, How to Use ClickMeeting to Create a Webinar Flywheel That Builds Momentum. Many customers reported receiving conflicting information from different Tesla employees. In fact, you might say that his social media influence has contributed to Tesla’s success more than any money they spent on marketing. You must make sure this is not the case with your company. 3. Teslaâs marketing strategy is as disruptive as its business model. 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