Tesla Chief Elon Musk has officially confirmed plans to adhere to its investors’ requests for “larger scale” electric vehicle products advertising. However, the CEO’s X post indicated that Tesla has yet to determine the most effective approach.
The announcement has delighted investors, including X user James Stephenson.
Tesla’s advertising strategy
Tesla has a reputation for not engaging in many advertisement efforts for its electric vehicle products. It mostly relied on the “word of mouth” marketing strategy, letting owners talk about the advantages and greatness of its products.
Tesla strongly believes that product improvement is a better approach to attracting new customers than spending on expensive advertising initiatives.
As reported by Electrek, company investors have been calling for Tesla to launch advertisements to outline the product’s special features and offered benefits.
Advancements
In a significant development, the Tesla boss decided to deviate from the “word of mouth” practice earlier this year. At the 2023 Annual Meeting, he stated that the automaker will finally have “little advertising.”
EV-a2z covered Tesla’s new Google advertisements in June, indicating its commitment to stay true to its promise. At that time, the company had only launched a total of 18 ads. Now, it has more than 300 different ads on Google.
Now, the CEO updated investors during the Q3 2023 Conference Call last week about his renewed outlook on doing advertisements.
“We are advertising. I think there is some — something — there is something to be gained on the advertising front. I don’t think it’s nothing, but informing people of a car that is great but they cannot afford doesn’t really help. So, that is really the thing that must be sold, is to make the car affordable, or the average person cannot buy it for any amount of money.”
Tesla CEO Elon Musk
In a recent X post, CEO Musk further clarified the company’s take on larger-scale advertising for its EV products.
“I said we would advertise. We are doing so at small scale and will do so at larger scale as we figure what works best.”
Tesla CEO Elon Musk
Significance
It is only reasonable for Tesla to try various EV advertising approaches before going for larger-scale efforts. As mentioned, it already has 300+ Google ads. Tesla enthusiasts also previously shared new sightings of Tesla ads at a Tokyo airport ahead of the Japan Mobility Show.
It would be really exciting to see which strategy Tesla finds best for its electric vehicle advertisement. A Super Bowl advertisement would be a great idea, but it will not be cheap.
