8 Profit Activator vs Elon’s “marketing”

I recently started listening to the ILoveMarketing podcast, (which is a great resource to get into the value added marketing space) and on the other hand I am a big fan of Elon and his companies.

These two interests created an illusion of a contradiction in my mind because Elon does not do any “marketing” in a traditional sense.

So the idea is to take the most customer-facing company of Elon, Tesla and see how the 8 profit activators hold against their approach.

Tesla in 8 Profit Activator’s lense

Before 1/3: What is the ONE target market you will focus on for now?

The key part is the “for now”, Tesla strategically focused only at one target market at the time starting with the first version of the roadster, and later when down the broader markets.

Before 2/3: How can you compel your potential client to call/contact you?

This part is just Elon building out the reach on Twitter and also sharing the mind-blowing specs of the cars.

Before 3/3: How can you educate, and motivate your prospects to meet you?

The education is done by the individual Tesla lowers who are covering every step of the company and sharing their experiences online and offline. This had been created by creating such a high-value product that customers want to learn more.

During 1/3: What are you going to do when they come to you?

This part is done by rethinking and transforming how a car could be bought from the ground up, cutting ties with the dealership model and allowing fast and easy way to buy a car.

During 2/3: How do you deliver a dream experience to your client, one that exceeds all expectations?

Tesla got into the habit of underpromising and overdelivering, while still shipping a high-value product. Talking about the much lower cost of ownership, the driving experience, etc.

During 3/3: How can you provide the best after-sale service?

This part is easy over the air updates, new features, continuous value delivery to the customer which makes the product more and more valuable.

After 1/2: How can you keep in touch with your client after they have done business with you?

This happens mostly through service centres, over the air updates and with referral codes.

After 2/2: Do your clients know enough about you to refer you in “high probability” conversations?

The news of someone buying a new car usually spreads like wildfire in the neighbourhood and it is a known fact that a new Tesla owner could not shut up about his car :) Combining this effect with the referral codes, and allowing a referee to help the community and feel good about it is a great way to boost the word of mouth marketing.

In Conclusion

Despite the initial contradiction, Tesla’s model fits well into the 8 Profit Activator model. The weakest link in the chain is an official easily shareable infographics, which tells the 7 biggest reasons why and EV is much better than an ICE car.

Disclaimer: I own Tesla shares.