- Elon Musk said at a shareholder meeting that Tesla is “trying” advertising for the first time.
- This billionaire used to hate advertising.
- Musk’s announcement was met with cheers from investors at the event.
Elon Musk said Tesla will start advertising for the first time in its history.
“I’m going to try some ads and see what happens,” Musk said. Tesla’s Cyber Roundup for 2023 at the Austin facility.
Musk suggested that shareholder Kevin Paflas, also known as YouTuber Meet Kevin, who attended the event, needed to do more to educate non-Tesla fans about its products. In response, the company said it would start promoting the product.
Tesla’s chief executive said he “has heard a lot”, adding that it was “ironical” that Twitter was “heavily reliant on advertising”.
By 2022, Twitter will be about 90% of revenue through advertisers. However, the platform reportedly has some issues. Advertisers run away Since Musk’s takeover.
Musk’s announcement at the Tesla event was met with cheers from the crowd. The billionaire later told CNBC’s David Faber on Tuesday night that he was taken aback by the enthusiasm. He told CNBC that Tesla will use advertising to defuse misconceptions about its brand, especially when it comes to pricing and promoting safety.
However, Tesla doesn’t seem to have a clear strategy for advertising yet. Musk told Faber that he had just decided to try advertising during Tesla’s event.
The move was what some Tesla investors wanted. Tesla investor Ross Garber said in April that electric-car makers need to be more like Apple when it comes to advertising.
“Tesla just needs to advertise and at some point they will understand this,” he said. wrote on twitter. “That’s why almost every company advertises. To educate consumers about their products.”
Musk declined to say where Tesla will start promoting its products. But Wedbush tech analyst Dan Ives said the decision was a “huge step forward” in battling the growing global EV race. Tuesday’s tweet.
Over the years, Tesla has used unconventional methods to promote its products. The brand has relied heavily on Mr. Musk’s promotions. This billionaire frequently tweets about Tesla and its various products on his Twitter profile of himself, which has nearly 140 million followers. His image as the second richest man in the world has also become synonymous with the brand.
Musk has previously said: i hate ads And Tesla likes to put money in towards R&D, not promotional content. But there are signs that Musk’s stance on the issue is softening last week, when he appointed a new head of advertising to replace Twitter’s CEO. Shortly after Musk bought Twitter, SpaceX purchased an advertising campaign For Starlink satellite internet service on the site.