Shockingly, Elon Musk has made a momentous decision to venture into the realm of advertising for Tesla. This decision came after a meeting with a shareholder who commented on how companies like Netflix do not pay much for advertising, but their ads are everywhere. The shareholder also noted how many people do not know much about Tesla and its features. By entering the advertising arena, Tesla aims to reach a wider audience and increase brand awareness beyond its existing fan base.
Why Tesla Has Not Been Advertising
Years ago, Musk promised to not use paid advertising to promote Tesla. Instead, he wanted to use the money towards making the cars better. So, why has Musk decided to change his mind on the idea of advertising?
The Twitter Effect
Musk took over Twitter last year, which caused many advertisers to turn away from the social media platform. Musk stated that since taking over Twitter, his view on advertising has changed since “Twitter is highly dependent on advertising”.
The Future of Tesla
Elon Musk's unexpected move to embrace advertising marks a significant milestone in Tesla's evolution. Tesla's venture into advertising not only signifies its ambition to dominate the automotive industry but also paves the way for a more competitive electric vehicle market. As Tesla's marketing strategies unfold, many consumers will be watching to see how the company navigates the world of advertising while continuing to redefine the future of transportation.
Sure, there have been stories of companies that have been able to succeed without advertising. However, there are many more stories where companies have succeeded through paid advertising. Elon Musk plans to be a part of that group now.
Cate Bender, the author, is Project Coordinator of Marketing Keys