Elon Musk desperately needs to run a global ad pitch for Tesla.
Someone needs to tell the man who told advertisers to go F%#€ themselves, and is also suing them, that he needs to hire a brilliant agency to sort his brand and do some brand advertising. Perhaps Mark Reid CEO of WPP who celebrated him at Cannes could give him a call.
The truth is, even in a slowing market for EVs, it’s the likes of the stronger branded manufacturers who are winning in Europe. BMW sold more electric vehicles than Tesla in the European Union last month—the first time it has outsold its American rival in EVs. According to Jato Dynamics, an industry-analytics firm, the German carmaker shifted 14,869 EVs, while Tesla managed 14,561.
Meanwhile, BYD (the Chinese manufacturer many have never heard of) is battling Tesla globally to do the most sales. It undercuts Tesla on price. It’s only a matter of time it wakes up to needing brand building as the next lever.
One can’t dispute the genius of Musk or his innovation, but unlike other tech disrupters & innovators like Apple, he’s never really built the Tesla brand to defend it when the competition increases. It’s been defined by him and by being first. Musk did the hard yards of disrupting the market, making EV cool, attracting the early adopters and then broadening the audience.
But truth is if looking to buy an EV buying a Tesla now feels like joining the herd. You turn heads less when you see one and owners no longer advocate why they are smart. You can now get the benefits of an EV and a differentiated brand choice too. Whilst Musk was once a brand asset, unlike Jobs, the values that rub off on Tesla are those of an ego-centric maniac.
Media is looking for bad news stories on Tesla and not good. So cars catching fire and self driving car incidents are giving a level of attention of someone who has become the enemy.
Yet, he remains a genius and Tesla has so much more in the brand he’s built. It’s fixable.
Here is my change advice to Elon. Run a global pitch. Pay 3 or 4 great agencies to solve Tesla’s brand dilemma and go again.
Then sell the pitch process to Netflix as a reality documentary. I know I’d watch.
Founder & CEO at Glow
1yThanks Anthony! Great role here for someone looking to build skills and responsibilities in an important next step in their career…