Digital marketing business model For Tesla

Digital marketing business model For Tesla 

Introduction and digital trend review

Tesla Inc., formerly known as Tesla Motors is considered as American automobile and Energy Company which was founded in the year of 2003(Tesla, 2019).

The firm had launched diversified innovative products in the field of automobile sector that has also started to supply and design the lifestyle products. In 2015, the firm has aimed to focus on the autopilot, safety, motors and charging networks.

The firm has operated in the context of 260 galleries/ retailers combination in 2018(Tesla, 2018).

The firm has offered bestselling plug-in passenger car manufacture in the context of electric car industry. As the application of digital medium platforms has risen, the businesses has inclined their service pattern in digital orientation.

So, the adaptability of digital marketing business models would help the companies to grow and flourish according to the business goal.

The digital business models are considered as digital branders, customer experience designers, demand generators and product innovators.

Digital branders have mainly focused on the renewal and establishment of brand equity for applying deep consumer engagement(Allen & Fjermestad, 2001).

Customer experience designers have used the information of customers and insights for establishing end-to-end and superior experience for the consumers.

On the other hand, demand generators has focused on driving converting and online traffic across channels for maximising the efficiency in marketing along with growing wallet share(Beig & Khan, 2018).

Product innovators have used digital marketing techniques for developing, identifying and rolling out the digital services or products.

The digital marketing trends are considered as application of artificial intelligence and chatbot, influencer marketing and personalisation.

Application of artificial intelligence and chatbot has enabled the customer to get assistance over digital medium related to availing the products or services(Cavender & H. Kincade, 2014).

Influencer marketing has become essentially important for reaching to most suitable target customer which is beneficial from the business perspective.

Personalisation indicates the inclination of product or service according to the preference of customers which are of unique and different from the traditional pattern.

Singular target customer for Tesla

Target market or target customer is considered as the particular group which is identified as the base for selling the particular product or services.

Initially, the businesses has selected the target customer for inclining the services or product into that orientation(Cox, et al., 2014).

Elon Musk has changed the pattern of service or product deliverables of the company which is mainly based on innovation and uniqueness.

Tesla has served one particular target market which is for the premium sports car sector. The firms have worked out their process to cross over into regular manner with following X series model.

Customer experience designers have used the information of customers and insights for establishing end-to-end and superior experience for the consumers.

The business has also utilised the mono-segment positioning which has focused on one segment in detailed approach. The individual who have higher disposable income and class image are considered as the main target customer(Ding & Tseng, 2015).

The people of North America, Europe and Asia are identified as the main target customers based on geographical Tesla has also planned to offer customised vehicles which has added value to the customer.

The wealthy, socially responsible and environment friendly customers are identified as the particular group of customers who can avail the product or services of the company.

The target market of Tesla is processed through focusing on demographic, geographical, psychographic and behavioural aspect where different variables such as density, age, gender, lifecycle, personal traits, sought benefits and occupation are considered as the important aspect(Du Preez & Bendixen, 2015).

Tesla has used the anticipatory positioning type where the target segmentation process has processed.

The target customers has also been gained through the fan base of the social media influencer. The company has focused on the innovation principles for diversifying and differentiating the company deliverables which is aligned with themarketing principles.

The types of vehicle class are based on the pattern of high-end luxury SUV or Sedan, middle price range, commercial vehicles targeted for shipping business and transportation, green community, enthusiastic in fast sports car, autopilot along with the followers.

So, the main target customer group of Tesla belong to the age group of 30-60. Moreover, they should belong to the upper middle class family and comprises the classy nature for availing the cars.

The average household income of the citizens are considered as above $80,000. Based on the value of psychographics, it has been identified that the gas consumption concern along with economic value in cars has provided to the target customers.

The individuals having desire about the luxury cars with higher safety valuation also included under target customers(Du Preez & Bendixen, 2015). Mainly, the individuals who have higher social class and wealth can avail the services.

The company has also provided quality products which has enabled the customers to gain insight related to the identification of suitable target market.

Impact of digital trend on Tesla; implications and response to trends along with its relation with target customer

Due to globalisation, the business process has initiated to expand over global medium through adapting the digital medium for reaching most number of consumers.

The digital marketing policies are also needed to be incorporated for assuring business goal accomplishment which has simplified the marketing process for company(Ching & Ellis, 2014).

The digital marketing trends are considered as application of artificial intelligence and chatbot, influencer marketing and personalisation. Tesla has also need to be follow all the trends of digital medium for assuring the expansion of business process.

The application of artificial intelligence has enabled the business to follow the guidelines of digital marketing by generalising and creating the content and advertisement over digital medium.

As the firm has targeted the particular group of elite customers, the digital medium promotion would enable the management of the company to gain concern of most number of customers(Daidj & Egert, 2018).

Wide ranges of intelligent tools has applied for creating news and concern related to the adaptation of business process which are considered as Articoolo, Quill and Wordsmith.

The marketing department of the business has also gained in-sight related to the demands and preferences of customers.

The company should diversify their deliverables for creating the unique service pattern which has assisted the company to gain more customers. Introduction of electric vehicles with attractive design has enabled Tesla to add value to customers in the form of social and environmental concern.

The adaptation of machine learning or automatic learning has analysed millions of data related to the customers for determining the preference pattern of consumers(Datzira-Masip & Poluzzi, 2014).

Email marketing has become crucially important for the digital marketing tend which is supported by the digital advertisement. Google ad platforms and different social media platforms has applied artificial intelligence and machine learning which has enabled the management to analyse the demographics, interests and other aspects of user.

The company should also apply Audience Management as a service (AMaaS)which has utilised transfer, deep and machine learning for automating the optimisation and handling of advertisement.

Tesla should focus on the implementation of intelligent algorithms which has optimised and adjust the budgets for assuring higher sustained conversion rate and it has increased the performance of advertisement by 83% in 10 days.

Influencer marketing is also considered as the important trend of digital marketing which is required to be incorporated by Tesla management for accomplishing business goal.

The advertisement pattern has shifted in the direction of collaboration with influencer who has promoted the service or product of business. As the organisation has targeted elite and wealthy class of customers, they expectedly involve in the digital medium which has been considered as the opportunity for the business process(Ching & Ellis, 2014).

The CEO of the firm Elon Musk has always focused on the innovation principles which is also required to be circulated among diversified range of customers for assuring the success of business and accomplishing the business goal.

The digital marketing models has also been adapted through focusing on trends which has been aligned with the principles of demand generators, digital branders and product innovators.

The basic marketing capabilities are also required to be incorporated through focusing on need assessment and segmentation, measurement, real time assessment, targeting and personalising, content optimisation, advocacy and social influence and innovation principles along with omnichannel experience(Du Preez & Bendixen, 2015).

The trends and preferences of the customers has also been analysed and interpreted through incorporating with the recent digital marketing trends and tools.

The firm has already created brand image by delivering quality vehicles whereas the number of businesses operating in the automobile sector has raised rapidly.

It has provided the business an opportunity to diversify the business operations anddeliverables according to the demands and preferences of customers.

The strategic decisions of business has also needed to be incorporated in such a direction that the preferences and demands of customers can be maintained.

The company had started their journey with the motive of driving the electric vehicles which has added social and environmental value to the customers.

The selection of target customers are required to be focused at the initial phase to incline the product or service orientation into that dimension.

The adaptation of artificial intelligence would provide the target customer an opportunity to focus on the user simplification in accessing the online medium for the business(Beig & Khan, 2018).

Most of the customers are considered as the individuals who have belong to the high class and it has assure the marketing team of business to avail the social media platform and involve with the online medium.

The benefits and speciality of the vehicles has expressed through the video representation which is considered as the integral part of digital marketing.

The innovative positioning of the business processes has also been followed for attracting the target customer which is beneficial from the business aspect. These trends are very important in terms of attracting most of the target audience(Cox, et al., 2014).

As the organisation has mainly put their focus on innovative principles, the customers are willing to be attracted by the particular dimension of service deliverables.

The customers with the lifestyle of aspirer, explorer, succeeder and reformer are identified as the target customer which has enabled the company to incline the digital marketing service of business.

Most number of individuals who have class, wealth and the sense of maintaining environmental sustainability are identified as the main target customer.

The content of the online advertisement must be inclined in such a manner that digital medium influencer would also add value to the customers. Most number of customers are also attracted through following the marketing principles.

Providing the opportunity for designing own car has also attracted most of the customers which is included inder marketing strategy.

Thus, the target customers of Tesla has been adapted through focusing in the digital marketing models and trends.

Conclusion

Tesla has aimed to focus on the autopilot, safety, motors and charging networks.Customer experience designers have used the information of customers and insights for establishing end-to-end and superior experience for the consumers.Influencer marketing has become essentially important for reaching to most suitable target customer which is beneficial from the business perspective.

Tesla has served one particular target market which is for the premium sports car sector. The firms have worked out their process to cross over into regular manner with following X series model.

The people of North America, Europe and Asia are identified as the main target customers based on geographical Tesla has also planned to offer customised vehicles which has added value to the customer.

The company has focused on the innovation principles for diversifying and differentiating the company deliverables which is aligned with the marketing principles. The digital marketing trends are considered as application of artificial intelligence and chatbot, influencer marketing and personalisation.

The adaptation of machine learning or automatic learning has analysed millions of data related to the customers for determining the preference pattern of consumers.

References

Allen, E. & Fjermestad, J., 2001. E-commerce marketing strategies: an integrated framework and case analysis. Logistics Information Management, 1(14), pp. 14-23.

Beig, F. & Khan, M., 2018. Impact of social media marketing on brand experience: A study of select apparel brands on Facebook. Vision, 3(22), pp. 264-275.

Cavender, R. & H. Kincade, D., 2014. Management of a luxury brand: dimensions and sub-variables from a case study of LVMH. Journal of Fashion Marketing and Management, 2(18), pp. 231-248.

Ching, H. & Ellis, P., 2014. Marketing in cyberspace: what factors drive e-commerce adoption?. Journal of marketing management, 3(20), pp. 409-429.

Cox, N., Gyrd-Jones, R. & Gardiner, S., 2014. Internal brand management of destination brands: Exploring the roles of destination management organisations and operators. Journal of Destination Marketing & Management, 2(3), pp. 85-95.

Daidj, N. & Egert, C., 2018. Towards new coopetition-based business models? The case of Netflix on the French market. Journal of Research in Marketing and Entrepreneurship, 1(20), pp. 99-120.

Datzira-Masip, J. & Poluzzi, A., 2014. Brand architecture management: The case of four tourist destinations in Catalonia. Journal of Destination Marketing & Management, 1(3), pp. 48-58.

Ding, C. & Tseng, T., 2015. On the relationships among brand experience, hedonic emotions, and brand equity. European Journal of Marketing, 7/8(49), pp. 994-1015.

Du Preez, R. & Bendixen, M., 2015. The impact of internal brand management on employee job satisfaction, brand commitment and intention to stay. International Journal of Bank Marketing, 1(33), pp. 78-91.

Tesla, 2018. Power Everything. [Online]  Available at: https://www.tesla.com/energy [Accessed 31 Dec 2019].

Tesla, 2019. about us. [Online]  Available at: https://www.tesla.com/about [Accessed 31 Dec 2019].

 

Leave a Comment