Tesla to test traditional advertising, Elon Musk reveals irony
In a surprising move, Tesla CEO Elon Musk announced today that the electric vehicle manufacturer would experiment with advertising to evaluate its effectiveness. This decision comes as a notable shift for Musk, who has previously shunned traditional advertising methods for Tesla. Interestingly, Musk’s recent acquisition of Twitter, a platform heavily reliant on advertising, may have influenced his change of heart.
At Tesla’s annual shareholder meeting in Austin, Texas, Musk commented on the irony of his newfound appreciation for advertising, given his ownership of Twitter. He also highlighted the appointment of advertising veteran Linda Yaccarino, who was hired last week to lead the social media giant. Musk said…
“We’ll try out a little advertising and see how it goes.”
This strategy aims to boost investor confidence in Tesla amid increasing competition and a sluggish economy, which has led to price reductions for the company’s vehicles. Since taking over Twitter in October, advertisers have been leaving the platform due to concerns about their ads being displayed alongside inappropriate content, following a nearly 80% reduction in Twitter’s workforce.
Despite his previous disdain for advertising, with a 2019 tweet stating he “hates advertising” and prefers to invest in product improvement, Musk acknowledged on Tuesday that many people remain unaware of Tesla’s affordability and impressive features. By experimenting with advertising, Tesla hopes to reach a wider audience and showcase the value of their electric vehicles, reported Channel News Asia.
