Enhancing Tesla's Market Potential: A Social Media Marketing Report

This report examines social media marketing strategies for Tesla, focusing on enhancing its market potential through platforms like Facebook and Instagram. It analyzes the importance of social media in modern marketing, discussing how Tesla can effectively target its clients, especially with the introduction of the Tesla Roadster. The report details various marketing concepts, including creating engaged communities and utilizing word-of-mouth strategies to attract new customers. It emphasizes the significance of content creation and the use of visuals to engage potential customers. The report also highlights the importance of understanding customer preferences and using data to refine marketing efforts. Recommendations include leveraging Facebook and blogging for maximum customer reach, creating a digital community, and continuously monitoring social media statistics for strategy optimization. The report concludes that social media is the best option for Tesla to increase its brand awareness and exposure, with a focus on generating a maximum return on investment through targeted marketing campaigns.

E - Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Use of social media platform to enhance market potential of Tesla............................................1
TASK 2............................................................................................................................................3
Critical evaluation of specifically targeted client and relevance of internet in modern
marketing concept........................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

Table of Figures
Figure 1: Statistics of people using various social media platforms...............................................1
Figure 2: Ansoff Matrix...................................................................................................................3

INTRODUCTION
Social media is a trending tool that is generally opted by companies nowadays so as to
digitally market their product. Tesla is introducing its new product, named “Tesla Roadster”
which it is planning to market on social media platform. The report discusses regarding various
marketing strategies that can be used by Tesla so as to increase its market potential. Various uses
of social media are also being critically explained in the report.
TASK 1
Use of social media platform to enhance market potential of Tesla
Social media have become an important channel of communication which is used to create a
greater impact on overall business performance. Organisations are able to get the opportunity to
attract large number of customer towards it by reaching them at a wider platform irrespective of
national boundaries. Since, it is an interactive platform, here customers get chance to discuss
their requirements and desires with the brands (Berthon, 2012). A strong and focussed approach
can help organisation in reaching out those prospective customers. Social media is able to
provide both free and paid marketing services to the entities. Enterprises also have the
opportunity to use images, videos and other type of content that can attract customers towards
them.
Figure 1: Statistics of people using various social media platforms
(Source: 7 Reasons Why Businesses Should Adopt a Social Media Strategy. 2017)
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Tesla, which is an American company, specialises in energy storage, electric vehicle and
solar panel manufacturing. The organisation is planning to introduce its latest product with the
name “Tesla Roadster” It is important to convey its specifications and details regarding it to the
customers through which they can make purchasing decisions. There are various social media
platform that are readily available to market one’s product, which includes Facebook, Instagram,
Tumblr, LinkedIn, etc. One of the most used social media services that can be taken into
consideration by Tesla is Facebook. Since, it is wide and the most popular social media
marketing site, Tesla can market its product at it. The site allows having one to one conversation
with the customers based on which purchasing decision is made by the client.
Tesla can attract wide range of customers with the help of photos, promotion videos and
promoting special and introductory offers etc (Kim and Ko, 2012). It is important to prepare a
game plan and then implement it in the similar manner. Compiling the content to be displayed to
the customers and noticing its views can help in making adequate improvements in the further
content displayed to them. It is an effective technology that can be adopted by Tesla for
maximum reach to the customers Since, Facebook shares highest customer base. It is yet another
platform that is becoming quite famous among the youngsters. It can be an effective method to
attract large number of middle age group customers for Tesla. Constantly remaining in touch
with them can help in understanding the requirements based on which content and promotion
videos can be designed. Tesla can also involve in producing posts and series of posts can be used
to make people understand regarding the specifications of new introduction made by the
organisation. The content must be written and created in such a manner that it provides certain
kind of utility to them. Building presence at social media can help finding large number of
potential customers (Castronovo and Huang, 2012). This is another tool that can be adopted by
Tesla so as to market its product on social media platform. It can publish weekly newsletters
within which discussion about the company and product can be effectively made and same can
be presented in front of customer base.
TASK 2
Critical evaluation of specifically targeted client and relevance of internet in modern marketing
concept
There are various marketing concepts that are directly linked to social media and its
adoption can help the company to enhance its profitability and customer base through it ( Hays,
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Page and Buhalis, 2013). Some of the marketing concepts that can be used by Tesla are
mentioned below:
 Create a community engaged supporters so that word of mouth strategy can be used by the
company to attract the untapped customers.
 The relationship which is already existing, such as, customers who have already made
purchases, must be cultivated for long association.
 Encouraging people to buy products, helping them to find the ideal product or them and
guiding people to use the brand can help in higher profitability.
As in the case of Tesla, the company is introducing new product in its product portfolio, it
is trying to enter into new market of social media so as to market its product.
Social media can prove to be effective platform for the company, if used diligently. It
helps in targeting the audience in the most effective manner. Using personal information, such
as, age, gender, relationship status and language can help in identifying that what can make a
particular group attracted towards the product. A good social media strategy can allow users to
like, comment and share page thereby ending up in free advertisement. It ultimately helps in
expanding the business and introduces it to the new customers as well. However, the main issue
related to it is social media reduces the personal touch between seller and customer
(Papasolomou and Melanthiou, 2012).
Social media marketing strategy is an effective method of increasing website traffic and
search ranking and thereby increasing leads. The more people will get to know the product and
search the same, it will enhance the overall ranking ability of Tesla. It will play a vital role in
improving visibility. However, Tesla needs to make sure that content published on social media
is stimulating and provide the information in the format which is actually desired by the
clientele.
For a company, establishing marketing budget is always a challenging task. Hence, social
media can be a method where little or no investment is required to be made by the organisation.
It allows to generate maximum return of investment (Scott, 2015). Hence, it can be stated that
social media is an effective method to be adopted by Tesla so as to market its new product.
CONCLUSION
It can be concluded from the above report that social media is the best option of marketing
that can be adopted by Tesla so as to increase its brand awareness and exposure. The report
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outlined that there are various social media strategies that can be adopted with the help of
Facebook, Instagram, e mail marketing, blogging etc. Adoption of them can enhance the overall
customer base of the company where maximum return on investment can be generated by it.
RECOMMENDATIONS
 Opt for Facebook and blogging so that maximum number of customers can be attracted.
 Make a digital community where word of mouth can act as a tool so attract new customers
towards the company.
 Adoption of social media platform requires constant focus so that statistics of it can be used
for preparation of strategies.
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REFERENCES
Books and Journals:
Berthon, P. R., 2012. Marketing meets Web 2.0, social media, and creative consumers:
Implications for international marketing strategy. Business horizons. 55(3). pp.261-271.
Castronovo, C. and Huang, L., 2012. Social media in an alternative marketing communication
model. Journal of Marketing Development and Competitiveness. 6(1). p.117.
Hays, S., Page, S. J. and Buhalis, D., 2013. Social media as a destination marketing tool: its use
by national tourism organisations. Current issues in Tourism. 16(3). pp.211-239.
Kim, A. J. and Ko, E., 2012. Do social media marketing activities enhance customer equity? An
empirical study of luxury fashion brand. Journal of Business Research. 65(10). pp.1480-
1486.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3). pp.319-328.
Scott, D. M., 2015. The new rules of marketing and PR: How to use social media, online video,
mobile applications, blogs, news releases, and viral marketing to reach buyers directly.
John Wiley & Sons.
Online:
7 Reasons Why Businesses Should Adopt a Social Media Strategy. 2017. [Online]. Available
through: <https://www.potential.com/articles/7-reasons-for-having-a-social-media-
strategy/>.
The Ansoff Model. 2013. [Online]. Available through:
<https://www.smartinsights.com/marketing-planning/create-a-marketing-plan/ansoff-
model/>.
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