Tesla CEO Elon Musk attends the official opening of the new Tesla electric car manufacturing plant on March 22 near Gruenheide, Germany. Tesla’s shift to advertising indicates a desire to expand its reach beyond its existing fanbase. (Photo by Christian Marquardt - Pool/Getty Images)
Electric vehicle giant Tesla Inc (NASDAQ:TSLA) has taken a surprising turn by apparently venturing into traditional online advertising, signaling a shift in its marketing strategy, a month after CEO Elon Musk said he was open to trying it.
What Happened: Tesla has recently started running Google ads, according to the Google ad transparency center. The company has a total of 18 ads, with six being displayed in the United States and 12 in the UK. This marks the first time Tesla has paid for ad placements, as it previously relied on clever marketing tactics and promotional content.
Last month, Tesla shared a two-minute video on its official Twitter handle for Tesla Asia. The video, titled “Drive to believe—why she chose Tesla?” features Felicia, a branch manager and mother of two toddlers, as she drives through Singapore in a Model 3. Felicia highlights various features of the vehicle, emphasizing safety, child lock, heat protection, and autosteer.
Why It Matters: Tesla’s shift to advertising indicates a desire to expand its reach beyond its existing fanbase.
While the company has gained a reputation for its clever marketing stunts, including referral programs and unique product names like Tesla Tequila and Short Shorts, Musk recognizes the value of informative, visually appealing ads with an artistic element.
He has emphasized the importance of creating ads that viewers won’t regret watching, suggesting a focus on engaging and captivating content.
© 2023 Zenger News.com. Zenger News does not provide investment advice. All rights reserved.
Produced in association with Benzinga
Edited by Arnab Nandy
Get news, handpicked just for you, in your box.
