Promotional Strategies of Tesla

Tesla has emerged as a tech giant even though it is a car company because it has transformed the way vehicles have been thought of for centuries. On top of the great product, promotional strategies it uses as a company is extraordinary. It has picked up a huge market in the competitive automobile industry where established companies are billions of dollars ahead. Even though the competitors are trying to change their existing design to compete with Tesla, it is a completely new product. It's not a car, it's a gadget. So, competitors are having hard time catching up. 

Tesla works with pull strategy, that is, once the new model is announced with a real-life prototype in the event, they start taking the orders. For creating awareness among its customers, CEO, Elon Musk uses twitter (to reach people who have money because Tesla is expensive) and other influencers like YouTubers to reach a mass audience. Normally, Tesla shows off the technical specifications, safety features, simplicity, design, and smartness of a car. They now launch various variants of cars to go deeper into the market, targeting customers from low price range to premium price range.  

Tesla has its outlets across all the major cities in the world. They don't go with dealers but rather have an online store and a great customer support team to facilitate their online stores. Also, 

with the brand loyalty of above 80% retention of customers, Tesla is one of the most innovative and disruptive company in the world. Tesla provides novelty in the car making it more like a phone that you want to keep using. That is the key to its customers' hearts in such a stagnant industry. The software upgrades for the car allows people to have a new car every once in a while without changing the vehicle. They show the work they do in the factory, the work they are doing in the future products to keep customers always wanting for more. It doesn't give you what you want, it makes you want things.

They are designing their own hardware and software sharing the same technology across all of its products. So, each car can technically communicate with another. This is a great way ahead for the future of self-driving vehicles. This technology is also one of the reasons to contribute to its customers’ loyalty. So, people who can afford don't just want only 1 type of car but all variants of it to try and enjoy the overall experience of the car. 

Tesla has grown to take a decent amount of market share in the last 5 years.  Although marketing was not great in the beginning as the company was more focused in research and development, Tesla has now made people market their products rather than doing on its own. With Elon Musk having millions of fans all across the world, it has been easy for the company to put the face to the brand. So, marketing happens everytime Elon does something or Tesla does something.