Elon Musk's embrace of advertising at Tesla grabs marketers' attention
Last year, Musk touted the company's "$1 (trillion) valuation with $0 advertising spend" on Twitter
With Elon Musk outlining plans for Tesla Inc. to use traditional advertising for the first time, viewers might see the electric-vehicle maker's Model Y crossover or upcoming Cybertruck pickup - maybe even the billionaire CEO himself - on TV or online.
Musk revealed those plans on Tuesday at the company's annual meeting, an about-face for the celebrity executive who recently acquired social media platform Twitter.
He has for years eschewed advertising in favor of seeking to capitalise on his star power and customer enthusiasm for Tesla's vehicles.
Musk said Tesla is not immune to macroeconomic pressures he foresees over the next year.
The EV maker's tweaking of prices in its major markets is a symptom of a company that no longer can take ever-higher levels of demand for granted in the face of growing competition.
Whatever advertising path Musk chooses, ad agency executives and investors expect a unique and irreverent take that will clearly communicate Tesla's advantages, including its technology.
Musk, who could not be reached for comment, told sources on Tuesday that he envisioned advertising that emphasised the features, safety and affordability of Tesla vehicles. A Tesla spokesperson declined to add anything beyond Musk's comments.
Last year, Musk touted the company's "$1 (trillion) valuation with $0 advertising spend" on Twitter.
