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Branding

Why Tesla’s Brand Strategy Stands Out During a Car Industry Crisis

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In the long run, a brand strategy is what will keep a business alive. This long-term plan will help a company develop a successful product and reach their short term and long term goals. A well-done brand strategy will affect every aspect of a business and is directly linked to a consumer’s needs. When it comes to brand strategies, Tesla provides some amazing brand strategy examples that anyone could apply to their business. Even if carmakers manage to copy Tesla’s model, they will fail due to the lack of brand marketing strategy that Tesla has. 

History of Tesla

Tesla.Inc was founded by Martin Eberhard and Marc Tarpenning in 2003. This company was created after General Motors forced a recall on all of their EV-1 electric cars from their customers and destroyed them in a junkyard. Elon Musk, the catalyst of Tesla, joined the company in 2004 with the necessary capital to run the company. Musk’s main goal was (and still is) to demolish the need for oil in cars and offering affordable electric cars. This leads to Tesla’s mission statement: “Tesla’s mission is to accelerate the world’s transition to sustainable energy.”

Social Media Engagement

Many CEOs are reluctant to use social media for their business. To them, social media means potential controversy and requires careful work. Elon Musk, however, threw that fear right out the window. Elon Musk engages with Twitter about two to three times a day, either through retweets or his own posts. Currently, Elon Musk has 29.9 million followers. 

You may expect that Musk simply promotes Tesla on his twitter with well-worded tweets, but it’s the opposite. Elon Musk is very human on his twitter account. He complained about his account getting locked, posts memes, and has live-broadcasts rocket launches. 95% of those looking to buy a car research their choices online. Elon Musk’s personal approach to marketing certainly has attracted an interested audience. While it is obviously risky to be so free on social media as the CEO of a multi-billion dollar, Elon Musk does it artfully well. 

Being Hard to Get is a Brand Strategy

In order to even test drive a Tesla, you must pay $5,000. Teslas are extraordinarily hard to get, which draws even more attention to the brand. There are no Tesla dealerships, all transactions are conducted online, the price is not negotiated, and you may wait months (or even years) to get your car. 

How does this attract consumers if it is so difficult to get? It attracts consumers for that very reason, it’s hard to get. Everybody wants the best pick of the bunch. The difficult road to obtain a Tesla makes the cars even more appetizing, as they almost seem forbidden. In the midst of a crisis within the car industry, Tesla is admirably brave to require so much in order to purchase a car. 

These hurdles do not exist for no reason, however. Teslas are often produced in a scarce amount, not mass-produced. The longer it takes for a person to obtain a Tesla, the longer Tesla has to create more cars. 

Brand Management for Your Business

Looking for an efficient brand marketing strategy? Need some more brand strategy examples that you can apply to your business? Web Content Development provides brand management services that will change the way consumers look at your business for the best. We know what approaches will work the best and are excited to help you and your business succeed.

Drybar: Creating an In-Demand Mainstream Luxury

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Who would have imagined some 10 years ago that a multi-million beauty empire could be born out of something as simple as a hair blowout? Probably none! But not Alli Webb, a mother of two who founded Drybar in 2008. What started out as a one-woman business has grown so big that Drybar locations, as at last count, numbers over 70.

Now, there’s nothing particularly special about Drybar’s offering – it’s still pretty much a hair salon. The question is, how were they able to grow this big on something as trivial as hair blowout? How have they managed to stay ahead of the competition in an industry with little entrant barrier? Brand management is the answer. Webb, at the outset of her entrepreneurial career, understood the power of brand management, and so leveraged it.

For new businesses looking to grow even in the face of stiff competition, there’s a lot to be learned from Webb’s approach to brand marketing. So read on! [Read more…] about Drybar: Creating an In-Demand Mainstream Luxury

In the Age of Fandoms: Creating a Following For Your Brand Marketing

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In a fiercely competitive market where there’s so much noise, having a loyal fan base is everything for a brand. Ever wondered why established names like Coca-Cola, Nike, Pepsi, and the likes keep spending millions on their brand marketing? The reason isn’t far-fetched: they understand that a loyal fan base is the lifeblood of a business.

So, as the new kid on the block looking to get a fair share of the market, how do you create a following for your brand? If you are lucky enough to have some serious funding, things might be easier. At least you would have enough to pay experts to work on your brand strategy. But chances are you are on a lean budget. So you are your own brand strategist. Does that mean you’ve lost out of the race even before it started? No! [Read more…] about In the Age of Fandoms: Creating a Following For Your Brand Marketing

How To Market To Create an Emotional Connection in 2019

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Customers are inundated with choices.  Are they are choosing to buy groceries at the local mom-and-pop store versus the chain retailer? Picking up clothes at a high-end retailer versus a massive superstore? Maybe they’re deciding to cut their own grass versus hiring a lawn care company. Customers make choices every single day.  

The advent of web-based retail and advertising has only increased the number of choices to be made and the number of options available. If you own a business, whether it is small or large, online-only or brick-and-mortar, you need to reach out to your target audience so that they know you are there and they choose you out of all the other options.  Historically, marketing strategies focused on large segments of the population, such as older men, housewives, families, young singles, etc. But recent marketing research has shown the value in appealing to the emotions and feelings that influence purchases — an emotional marketing strategy. Increasingly, businesses are choosing to target marketing strategies on creating an emotional connection with the customer.

What is An Emotional Marketing Strategy?

Emotional marketing strategy is a term that captures a variety of marketing techniques that have one thing in common: they target the audience’s emotions and seek to create an emotional connection with that audience.  Research demonstrates that people make decisions based on emotions, not facts. We are not the rational creatures we think we are! No matter how much we may pour over facts and figures before making a purchase, most of us buy with our hearts, not our heads.  

We may be able to deliver a speech about why a certain car was the best choice, but the truth of the matter is that we buy the same brand of car that our beloved grandad always did. A good marketing strategy utilizes that information. Instead of persuading the potential buyer with rational reasons to purchase a product or service, you can generate a good feeling through marketing.  That’s easy enough to say, but how to actually do it?

Market to the Person, Not the Segment

Use personalized data, when available, to individually market your product or service.  If you own a local business, send out individual postcards as a thank you or including a free offer for stopping by the store.  If you run a blog, take a survey asking for input on future posts. Follow up by thanking your readers and tailoring future posts to their responses.

Tell a Story

When people hear an emotionally charged story they generate strong memories about it.  Marketing strategies that tell a story create a memory in the customer’s mind. That memory is associated with the product or service in question.  This connection is the goal of so many commercials. While the commercial may not overtly advertise the product, the consumer associates the product with this emotional memory of the story.

Use Images

People remember pictures more than words.  A good graphic will stick in the customer’s mind much longer than a well-crafted sentence.  Use striking images and graphs where appropriate.

Social Media

Humans are social creatures  We inherently rely on the judgment and experience of others when making our own decisions. Use that to your advantage by seeking out reviews and testimonials on social media and posting positive feedback.  

If you would like to learn more about how to target marketing strategies toward emotional marketing, reach out to the marketing professionals at Web Content Development today.

 

Stranger Things and Nostalgic Product Placement

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Product placement is nothing new.  Advertisers have slipped their products into television shows and movies for decades.  Actors might smoke a certain brand of cigarettes or drink a specific brand of soda. Brand name packages can be strategically placed on countertops or coffee tables.  Producers accept money from advertising agencies to seamlessly incorporate products into the production. But the production of modern shows set in the past, such as Netflix’s Stranger Things, has ushered in a new era of nostalgic product placement.  Stranger Things prominently features brand name products that were popular in the early 1980s (when the show takes place). This product placement lends to the authenticity of the show but also changes the dynamic of product placement.

Stranger Things and Product Placement Examples

Because Stranger Things is set in the early 1980s, it makes sense that the show’s characters would use products from that time.  In fact, it would be strange if they didn’t! By using popular products of the time, from food to games and school supplies, the production team for Stranger Things authenticates the time frame for the show.  This approach is as important as creating period-appropriate clothing and hairstyles for the characters. Every visual element contributes to the 1980s setting of the show. So which types of products has Stranger Things utilized to evoke the ‘80s?  

    • Food products in their 1980s packaging, such as Eggo Waffles, Mrs. Butterworth’s syrup, Hunt’s Snack Pack Pudding, Kentucky Fried Chicken, Nabisco Nilla Wafers, Nutty Bars, Pringles, Ritz crackers, SunMaid Raisins
    • Drinks such as TAB (the original diet soda), New Coke, and Schlitz beer
    • Games such as Up Words, Dungeons and Dragons, Family Feud, and Score Four
    • Trapper Keepers- the mega-notebook/folder carried by all kids at the time

These are just a few of the most prominent examples of nostalgic product placement in the show.  Netflix confirms that they have more than 75 product placements agreements in place for Stranger Things, although they claim to be unpaid placements.

The Importance of Nostalgic Product Placement

In addition to giving the show authenticity, nostalgic product placement allows the viewer to create an emotional attachment to Stranger Things.  Many members of the target audience grew up in the early ‘80s. Seeing these products in use brings the viewer back to his or her youth and creates a nostalgic connection.  It even gives viewers a kind of interactive experience, allowing them to play “spot that product.” To Netflix, this nostalgic product placement is clearly an opportunity for a solid revenue stream.  To advertisers, product placement is a golden opportunity to reach a very specific audience. Netflix has reams of data on exactly who is watching which shows that it produces valuable information for marketing professionals.

How Stranger Things Brought Back New Coke

Season 3 of Stranger Things is set in 1985, the year that brought us New Coke, one of the biggest product flops of all time.  To keep with the timeline, Stranger Things features New Coke, and in a marketing twist, Coca-Cola is re-releasing a limited supply of New Coke as a tie-in with the show.  So we’ve gone from a show that showcases a nostalgic product to creating a demand for that product in the current time. It is easy to see how this nostalgic product placement could generate demand for other products, whether they are now obsolete, like the Trapper Keeper, or whether products bring back retro packagings such as the genuine tins for Ritz crackers or Sun-Maid Raisins.

For more information on how product placement can be an important part of your marketing strategy, reach out to us. At Web Content Development, we implement the best strategies to exceed your online marketing goals.

 

Why Target Appeals To Millennials

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Millennials are the largest generation in United States history, and that makes them a huge target audience for marketing today.  The shopping habits of the millennial generation differ from generations past. As such, retailers cannot rely on marketing strategies that worked in previous years.  Instead, they must tailor the shopping experience they offer–both online and in brick-and-mortar stores–to fit millennial trends. Target stores are taking the lead here, responding to this dynamic marketplace in order to appeal to millennials.

Target Store: Technology and Millennials

Millennials have grown up surrounded by technology.  As a result, technology is integrated into their daily lives.  Millennials use technology, primarily their cell phones, for everything: entertainment, keeping up with friends, banking, bill paying, hailing an Uber, ordering takeout.  And, of course, shopping. Technology has so seamlessly fused with their lives that they expect it to be a part of their everyday experiences. That can mean ordering dinner, then taking a picture of the food for social media, then rating the restaurant on an online platform.  The millennial generation does not compartmentalize their online life and their in-person life–they are one and the same. In terms of shopping, that means that millennials expect the in-person experience to be seamlessly integrated with the online shopping component.

What does that online/in-real-life integration of the shopping experience look like?  It means that millennial shoppers expect that if they are interested in a product, they can

  • Research it online
  • View anything available online in the brick-and-mortar store
  • Pay for it online
  • Have it shipped OR pick it up in-person
  • Share the experience on social media
  • Gain peer feedback online
  • Use photo sharing for brand engagement

Stores that want to draw in millennials consumers need to address these expectations.

Millennial Trends

Technological trends are not the only trends impacting millennials.  The millennial generation is also very socially conscious. Brands hoping to woo millennials must focus on the social ideals prominent in millennials.  Millennial trends include environmental consciousness and activism, health consciousness, gender identity, and fluid family models. Marketing strategies should appeal to these trends in order to draw in millennial consumers.

Target Marketing Strategies and Millennials

The retail giant, Target, has focused on the millennial experience in order to bring in these buyers.  Stores are currently implementing changes in order to appeal more to millennials. Some of these Target marketing strategies focus on millennial social trends.  For example, Target stores are revamping their grocery departments to reflect health and environmental trends. Stores will focus on increasing organic, natural, less-processed, and gluten-free options to appeal to health trends.  The amount of packaging will be reduced to become more environmentally friendly. Target stores are also changing up their personal product, clothing, and home decor lines to appeal to millennial families. Children’s decor will now be available in gender-neutral styles.  Target will introduce four new brands of beauty products featuring reduced packaging and better ingredients.

Target marketing strategies are also working to integrate the online/in-person experience.  Shoppers will be able to view merchandise online, but Target stores will also increase in-store displays for better in-person viewing.  This will include an increased number of mannequins to show how clothing fits and a showroom section of the store to display home decor.

 

Due to the sheer size of the millennial generation and the buying power that comes with it, millennial trends will continue to impact marketing and brand management for years to come.  For more information on brand management, contact Web Content Development today.