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Musk plans advertisements for Tesla: style and content trigger speculation

2025-01-24 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)11/24 Report--

In the morning of May 18, Tesla CEO Elon Musk reportedly revealed that he would use traditional advertising to promote Tesla cars for the first time. In other words, viewers will have a chance to see the company's Model Y and upcoming Cybertruck pickup trucks in TV or online ads, and perhaps even Musk himself.

Musk revealed the plan at Tesla's annual shareholder meeting on Tuesday, a significant turnaround for the tech mogul who recently acquired social media company Twitter. For years, he avoided advertising, using the attention he attracted and Tesla users 'enthusiasm for the electric car company to achieve free publicity.

"We'll try a little advertising and see how it works. Musk told investors in Austin, Texas. Tesla shares closed up 4.4 percent Wednesday.

Musk expects the macro economy to come under pressure in the coming year, and Tesla will not be immune. The electric carmaker has cut prices in key markets, suggesting it faces increasing competition and Tesla can't take rising demand for granted.

Whatever advertising path Musk chooses, ad executives and investors expect them to clearly communicate Tesla's strengths, including technology, in unique and unconventional ways.

Tal Jacobson, who will soon become CEO of advertising technology company Perion Network, said: "Tesla is not like other car companies, and Musk is not starting now, so we expect Tesla to communicate its disruptive technology and personalized charm through breakthrough ideas. "

Jacobson said of Musk: "His ability to amplify his brand and his company's brand with media is an art. "

Musk has not commented on this. But he said in an interview Tuesday that he envisions advertising to emphasize Tesla's features, safety and economy. A Tesla spokesman declined to comment further.

Musk previously told the media that he had not yet developed a "perfect strategy" for Tesla advertising. But he said the ads should "convey the product message" and be "aesthetically pleasing." He added: "There should be some artistic elements. It should be something you won't regret after seeing it. "

While Tesla promoted the car through its Twitter account, Musk said the approach was "preaching to those who have converted, but not reaching those who have not yet been convinced."

Musk claimed on Twitter last year that Tesla "has a $1 trillion valuation and doesn't do a penny of advertising."

Some industry executives speculate whether Musk will try to create memorable TV ads, like Apple's famous 1984 Macintosh computer ad. The latter, directed by Ridley Scott, played only during the Super Bowl. Many say the ad, inspired by George Orwell's dystopian novel of the same name, opened the way for big-budget television advertising.

Bob Gruters, chief revenue officer of streaming platform Loop Media, said: "I don't think Musk will build a brand image as carefully as Apple, but I think they will adopt a minimalist and futuristic style. "

Many wondered if Musk might even appear in advertising himself, but that approach could be risky given the polarization of opinion about the CEO.

"Is he an ambassador who can effectively promote the brand? My guess is that there are safer, more engaging and engaging ways to communicate brand strength than using Musk as a spokesperson. Kimberly Whitler, a professor at the University of Virginia School of Business, said:

Vivek Astvansh, an assistant professor of advertising at Indiana University's business school, said that while Musk did not disclose a marketing budget, Tesla could be seen as an important customer for top advertising companies.

WPP, Omnicom, Publicis and Dentsu, the top four advertising companies, did not comment.

Advertising intelligence firm Vivix said Tesla spent $151947 on advertising in the United States in 2022. By comparison, Ford and Toyota spent $370 million and $1.1 billion on advertising, respectively, while GM brands spent $1.35 billion on advertising in the United States last year.

GM spent $4 billion on global advertising and promotions, while Ford spent $2.2 billion on advertising, according to regulatory filings.

Related to Twitter? Author and venture capitalist Claire Diaz-Ortiz believes Musk's "new enthusiasm for advertising" isn't surprising given his acquisition of Twitter last fall. Diaz-Ortiz has held management positions at Twitter and has written books about the social media company.

Musk last week named Linda Yaccarino, former NBC Universal advertising chief, as Twitter's new CEO.

"It's hard for Musk to own a company that needs advertising money to survive and then devalue advertising in the name of the CEO of the manufacturing company," says Whitler of the University of Virginia. "

Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments, sees Musk embracing ads as a positive sign. He expects the company to differentiate its products from its competitors. "They will obviously focus on environmental protection and emphasize that this is the car of the future, not your father's old car. 'he said.

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