A newfound Tesla marketing budget has been applied to YouTube, Facebook, Instagram, Google, and, of course, X.
How do you think Tesla marketing compares to the automotive industry as a whole? Remember: Tesla swore off traditional advertising early on, insisting that— from personal referrals and on social media — would have enough guts to promote the company. CEO Elon Musk mocked legacy automakers who spent profits on paid advertising.
In January 2024, Tesla invested $420,000 in advertising, which is 83 times more than last January . What’s changed? What other changes might be forthcoming at Tesla?Up until now, unlike traditional automaker approaches, Tesla has maneuvered fluidly between virtual and physical touchpoints, creating integrated opportunities between the online and the tangible.
Then the residual effects from Covid slammed down on Tesla, and its stock lost approximately 69% of its year-to-date value on December 30, 2022. It was one of the most challenging periods in the company’s entire 20-year history. One reason for its downfall was— the company sold fewer cars than Wall Street had expected.
Video ads boast that the Tesla Model Y is “the #1 most American-made car.” An experimental Google ad promises a Model Y lease for $399 a month. Other ads zoom in on Autopilot or roomy interiors.for staff to push the FSD subscription at a cost of $12,000 as Teslas were delivered to customers. It’s another innovative marketing tactic to elevate sales numbers.
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