Elon Musk, the CEO of Tesla, announced during the automaker’s 2023 annual meeting of shareholders that the company, which has long shunned conventional advertising, will “try” out the plan.
Details on Elon Musk claims that Tesla would ‘attempt a little advertising’
Similar to other automakers, Tesla doesn’t invest in conventional advertising. It also wasn’t really necessary. Other marketing strategies, like as emails, referral programmes that reward current owners for referring new clients, and, of course, Musk’s frequent tweets, have helped the company gain enormous popularity.
Tesla has even used its devoted consumers to create its own advertisements. Musk agreed to the concept in 2017, after a Tesla enthusiast who wrote a letter to the business asking it run an advertising contest posted it on Twitter. Marques Brownlee, a YouTuber and tech reviewer, was declared the winner of the competition, which was called Project Loveday in honour of the 10-year-old girl.
Due to Tesla’s reliance on the calibre of its goods and word-of-mouth from early customers to bring the firm to what is now an iconic status as an electric car automaker and technology inventor, Advertising Age hailed Tesla as one of “America’s hottest brands” back in 2010.
“Our owners become our ambassadors,” Musk said at the time to Advertising Age.
Now that the corporation wants to emphasise the affordability of its automobiles and the promotion of new car features, Musk is ready to change his mind.
Musk responded to a query from Kevin Paffrath on Tuesday by saying, “We’ll try a little advertising and see how it goes.” Meet Kevin, a financial expert and YouTuber whose ETF ticker, PP, has Tesla as its largest holding.
Paffrath pointed out that Tesla might promote functions such as over-the-air updates that enhance airbag deployments or refute popular misconceptions that Teslas are “super expensive” when, in fact, “the starting price for Tesla is below the average car price in the U.S.”
Musk concurred, saying that his time running the heavily reliant company Twitter had convinced him that “advertising is awesome, and everyone should do it.”
