Steal Elon Musk's Advertising Framework To Increase Sales & Grow Your Business
Have you ever wondered how Tesla became so popular? In this episode, we look at why Tesla wasn’t advertising until now and what Elon Musk believes is the best framework for creating ads that convert. We look at real-life examples of advertising strategies and viral marketing campaigns in various industries.
Elon Musk’s simple framework is that every ad should have the following characteristics:
- Informative so that you know what you’re getting and learning something.
- Aesthetically pleasing (art/creative component) so you enjoy consuming the content.
- Don’t regret watching so that you don’t feel like you wasted time.
Why didn’t Tesla need advertising up until now?
- Strength of product. Model S is attractive, fast, and desirable.
- Understanding their customer. Early adopters talk & share. For Tesla, this would be people who are: tech-savvy, well-off financially, and have influence.
- Elon Musk has a huge following and is involved in the community. Other CEOs couldn’t hope to pull this off (imagine the CEO of GM or Chrysler trying something similar?)
- They always DID newsworthy things. Blogs wanted to talk about them. Blogs & media need something to talk about, and Tesla always gave them a reason (CyberTruck, Stock Price, Car into Orbit, ties in with Space X, etc.)
We then compare this advertising framework to other Industries (Sports Facilities, Apps and Fitness, eSports & Gaming, Landscaping & Home Services, and digital products) with practical examples from real-life.
Show Notes & Episode Guide
- 2:06 — Elon Musk recently announced that Tesla would begin advertising. Martin and Sahil start to look over the framework to see what Elon Musk talks about when it comes to advertising and what he looks out for. One of the key points is that Musk doesn’t want anyone to regret watching the ad.
- 5:25 — The guys discuss ads that they’ve seen in real life and what made them stick out.
- 6:25 — Why did Tesla feel that they didn’t have to advertise? We look at Elon Musk’s popularity and role as the brand’s face. There are pros and cons to this that can’t be ignored.
- 12:55 — With Tesla’s investments in AI, the company has been at the forefront of major advancements. This has led to unique advertising situations where the company didn’t have to spend directly on promotions.
- 15:44 — The guys look at the role of viral campaigns and how companies are trying to stand out these days. The stories range from the yellow duck in Toronto to gymnastics in the park.
- 21:45 — The guys discuss how they would apply unique marketing strategies in real life by looking at practical examples from fighting (marketing for fighters) and fitness (making your own recipes).
- 25:55 — Sahil brings up a unique viral campaign from the eSports world. The guys bring up home services and other practical examples of promoting a business. A simple idea like a video tutorial can be an excellent marketing strategy for your small business.
- 33:16 — The guys finish off the discussion by looking at digital products and how you could promote this sector. The role of influencers is discussed in promotions and what it takes to stand out.
- 38:37 — The discussion turns to the importance of launching valuable free content that’s better than most people’s premium material. The conversation ends up by talking about why you shouldn’t create boring content.
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