The company Tesla Motors was established in 2003 by a group of engineers from Silicon Valley who were determined to ascertain that electric cars can be better than cars that use gasoline (Tesla motors, 2016, 1). Armed with quick torque, incredible power, and with zero discharges or emissions, Tesla’s products are anticipated to be cars devoid of compromise. Every new generation of the Tesla products would be more and more affordable, therefore, helping the firm work towards its mission: to fast-track the world’s evolution to viable transport (Tesla motors, 2015, 1).
Tesla’s main trading operations lie in the field of energy storing and electric locomotive that basically designs, produces and trades in luxury electric vehicles (Hood, 2013, 1). With this kind of venture, it is therefore, crucial for a company like Tesla Motors to ensure that its face is on the market. Though there are no direct competitors to Tesla Motors, statistics show that Tesla has not sold as many product as the competitors. Additionally, Tesla has not been known to invest in traditional ad campaigns. Compared to one of its competitors such as, Nissan Leaf which spent $25 million in advertising its Leaf EV in the year 2012 (Mangàni, 2014, 2).
The social media is basically an incredible and extremely popular in the automotive industry. The automotive company Tesla has created a buzz especially in this modern age where a high percentage of people are preferring to use social media. With less than a decade in the automotive industry, Tesla has attracted over 2 million users on Facebook, Twitter and Google+ platforms alone. Important to note is that, Facebook and Twitter are notably Tesla Motor’s most advanced platforms where a majority of their referrals are derived from.
However, a majority of individuals with the interest of cars on social media normally prefer to use YouTube which has emerged as a popular referral as it has great and up to date reviews of cars by popular you-tubers. Tesla has not used this platform which could translate to be a beneficial move for the company. In addition, Tesla has been known to use its own blogs where it may not be known or accessible to many users. However, by using other popular automotive bloggers, it can translate to be an advantageous move for Tesla as a company. In summary, as one of the moves of growing its market share, it is advisable for Tesla to review its marketing strategies.
Apart from coming up with a strategy, Tesla Motors can also use some initiatives such as, pay per click (cost per click) and Real-time bidding (RTB). Pay per click (PPC) is sometimes also denoted to as cost per click. PPC, can be defined as an online marketing model that leads traffic to Webpages, where the advertiser only pays fees to the owner of the website if the advertisement is clicked (Miller, 2012, 1). Tesla Motors can use such a platform considering some of its blogs are not widely viewed. So, by direct traffic to this blogs people will have an opportunity to view their blogs.
Additionally, since PPC operates in a similar way to a silent public sale (Baker & Hart, 2008, 3). PPC functions in a manner that advertisers place their offers on specific phrases or keywords that they expect their target customers will be keying in search fields every time they are searching for certain services and goods. When an internet customer keys a word or catchphrase in the search field of a search engine that simply matches the selected keyword by the advertiser or even tries to visit a page whose subjects share the typed keyword, then the PPC ad is expected to be displayed on the page (Larsen, 2007, 2). In a majority of cases, the PPC ad is usually positioned to the right or just above the search outcomes. In a number of websites, the web designers position the ad in places or positions where they consider fit and beneficial to their websites (Prasad et al, 2013, 1).
On the other hand, Real-time bidding means the purchasing and selling of online advertisement impressions thru instantaneous public sales that happen in the time it takes a webpage to load. Those public sales are frequently facilitated by advertisement exchanges or supply-side podiums (Digiday, 2016, 1). As an advertisement brand loads in a user’s Web browser, info about the page it is on and the customer viewing it is distributed to an advertisement exchange, which then sales it off to the advertiser ready to pay the highest amount for it. The winning buyer’s advertisement is then loaded into the webpage almost immediately; the entire procedure takes just milliseconds to finish (Digiday, 2016, 1). Advertisers characteristically use demand-side platforms to assist them choose which advertisement brands to obtain and how much to offer on them centered on a diversity of aspects, such as, the sites they appear on and the prior behavior of the customers loading them.
Tesla might distinguish that a user has formerly been on its site looking at a specific type of car, for instance, and so may be ready to pay more than Nissan Leaf EV to serve advertisements to them. The price of impressions is basically determined in real time based on what customers are willing to pay, thus the term “real-time bidding” (Acuity, 2015, 1). RTB will enable Tesla Motors to target their advertisements to particular users. Thanks to this kind of platform since currently there is efficiency (Acuity, 2015, 1). With real-time bidding, advertisement purchasers no longer require to operate directly with editors or advertisement networks to discuss advertisement prices and to traffic advertisements. The two initiatives can characteristically be a great milestone for Tesla Motors in achieving its mission, objectives and to reach a wider market for its products (Acuity, 2015, 1).
Digital marketing strategy
Online competition has proved to be fierce battle. To win, a company needs to plan, manage and maximize digital channels.
Tesla should structure their plans to define the opportunity, strategy and action. Their digital Plan will be more credible if they have SMART goals.
- Review their marketplace and set goals.
- They can use key activities to define their digital opportunity through marketplace analysis:
- Review digital marketing capabilities
- Review performance using dashboards after customizing analytics for their business.
- Summarize customer insight in customer personas and customer journey maps.
- Audit brand and benchmark competitors.
- Define their SMART goals with conversion spreadsheet prototypes to measure opportunities.
Create digital strategy
Review how their digital intention and communicate it using digital targeting methods:
Select target market sections and personas. Define digital targeting methods.
Define their online value proposition (OVP) as well as review of business and income model, brand positioning and incorporation with traditional channels.
Review marketing mix for online selections for the 4Ps: Product, Price, Promotion and Place.
- Grow their audience online
This involves creating awareness of their brand, products and services on other websites and in offline media to create traffic to different web presences like their main site, microsites or social media pages. It includes maximizing reach using nonstop inbound communications and planned campaigns to generate multiple connections using diverse paid, owned and earned media touch points.
- Define their online viewers prospective
- Tesla should set genuine targets for building traffic, awareness and social media followers.
- Define dashboards to review efficiency of present digital media in analytics.
- Review present use of digital media and chances to improve.
- Set VQVC (volume, quality, value, and cost) goals using adaptation budget models.
Tesla should select the best communications routes.
Their online customer purchase strategy should:
- Define main brand messages to develop audience awareness, awareness and acquisition intent.
- Select pertinent media and targeting.
- Link to their content marketing strategy (Act).
- Prioritize channel media spend, shortened in a transformation-based media plan and budget.
- Encourage brand interactions and leads
Tesla should identify the best options to increase lead conversion.
- Review consumer journeys for desktop-mobile visits using analytics and response tools.
- Review social media and mobile marketing avenue commitment.
- Define objectives, events and dashboards for assessing consumer interactions.
- Prioritize content marketing and consumer journeys.
- Define consumer personas.
- Define content marketing strategy.
- Generate website and market improvement plan as well as lead profiling.
- Increase sales through conversion rate optimization (CRO)
This is the conversion from lead to sale. It includes getting your viewers to take that crucial next step which turns them into purchasing consumers whether the payment is done through online Ecommerce trades, or offline networks.
Review emphasis to increase conversion to sale.
- Form and review site conversion channels and paths to procure (online and offline) and measure targets for incremental revenue.
- Review multichannel (Omni-channel) connections to grow income per visit.
- Review analytics and consumer response.
Create a method for conversion rate optimization.
- Define online conversion rate optimization (CRO) method.
- Define how main online communications (search, email, social, and mobile) drive sales.
- Define offline incorporation paths to buy.
- Build customer loyalty and advocacy
This is generally a long-term arrangement that is, developing an association with first-time purchasers to form consumer loyalty as repeat acquisitions using communications on their site, social presence, email and direct communication.
Review prospective to increase consumer activity levels
- Review consumer loyalty using RFM analysis for communications and sales. Measure incremental revenue potential.
- Review consumer satisfaction drivers.
- Review efficiency of customer communications.
Define plan to advance consumer retention and engagement.
- Create consumer engagement plan.
- Create online personalization and marketing plan for incremental revenue.
- Create consumer interaction plan (email marketing and social media marketing).
Acuity, 2015, real time bidding explained. Retrieved on 3rd February 2016 from http://acuityads.com/real-time-bidding/
Baker, M. and Hart, S. 2008, The marketing book. Oxford: Butterworth-Heinemann.
Digiday, 2016, real-time bidding. Retrieved on 3rd February 2016 from http://digiday.com/platforms/what-is-real-time-bidding/
Hood, D. (2013). The marketing manifesto. London: Kogan Page.
Larsen, H. 2007, Cases in marketing. London: Sage Publications. Guidance for Risk
Mangàni, A. (2014). Online advertising: Pay-per-view versus pay-per-click. J Revenue Pricing Managing, 2(4), pp.295-302.
Miller, M. 2012, B2B digital marketing. Indianapolis, Ind., USA: Que
Prasad, A., Mahajan, V. and Bronnenberg, B. 2013, Advertising versus pay-per-view in electronic media. International Journal of Research in Marketing, 20(1), pp.13-30.
Tesla motors, 2015, Tesla’s mission is to accelerate the world’s transition to sustainable transport. Retrieved on 3rd February 2016 from https://www.teslamotors.com/about
Tesla motors, 2016, Tesla’s mission is to accelerate the world’s transition to sustainable transport. Retrieved on 3rd February 2016 from https://www.teslamotors.com/about