Tesla is known for being ad-averse and hasn’t really ran traditional advertising since it launched in the early 2000’s, choosing to rely on word of mouth to promote its vehicles instead. Now things could change for the automaker. During the company’s latest shareholder meeting, Tesla chief Elon Musk replied to an audience question regarding advertising with: “We will try a little advertising and see how it goes.” Apparently, the executive changed his mind about advertising after acquiring Twitter, which makes most of its money from ads.
“It’s indeed ironic that Twitter is highly dependent on advertising. Here I am, never used advertising really before, and now I have a company that’s highly dependent on advertising. So, I guess I should say advertising is awesome, and everyone should do it.” That’s a total reversal from the executive’s previous stance. He said a few years ago that he hated advertising and that Tesla uses money other automakers set aside for ads and endorsements “to make the product great.”
In his response during the shareholder meeting, Musk said Tesla vehicles have functionalities and features that most people don’t know about. The company does post them on its Twitter account, but he acknowledges that doing so is like preaching to the choir. In a follow-up interview with CNBC, he said ads could be “informative and entertaining” so that they’re more content than typical advertisements. He suggested that future Tesla ads could take on that format and highlight its vehicles’ lesser-known features.
Musk has also teased two new EVs during the shareholder meeting, where he said that the vehicles’ design and manufacturing techniques “are head and shoulders above anything else that is present in the industry.” He said that the company is already in the process of “building a new product,” which could mean that Tesla is already working on a prototype for at least one of the EVs.
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