"Sharing his thoughts on the social media platform X on Saturday, the investor outlined Tesla's need for better marketing. "TSLA has the best product, but the product won't just sell itself," Black said in the post. He also highlighted that "influencers" sharing videos of Teslas on social media wasn't an example of "great marketing since it reaches audiences who already own Teslas.""
"He also highlighted that "influencers" sharing videos of Teslas on social media wasn't an example of "great marketing since it reaches audiences who already own Teslas." It's worth noting that Tesla does not utilize traditional marketing strategies, instead relying heavily on CEO Elon Musk's popularity and active involvement in pop culture to market itself. However, the company had pivoted to a more traditional marketing strategy for the Cybertruck earlier this year."
"The investor previously shared that Tesla needs a better PR staff as the National Highway Traffic Safety Administration (NHTSA) announced an investigation into the Full Self-Driving (FSD) tech's traffic violations and accidents. "For years I've argued $TSLA needs a 1-2 person PR staff to fight off regulatory efforts like this," Black said. However, Deepwater Asset Management's Gene Munster thinks that the investigation could be good for Tesla as the company being in the headlines shows its commitment towards developing the technology."
Gary Black, investor and managing director of Future Fund LLC, reiterated that Tesla needs stronger marketing as it introduces more affordable trim levels. He said TSLA has an excellent product but emphasized that the product will not sell itself and criticized influencer videos for reaching current Tesla owners rather than new buyers. Tesla largely eschews traditional marketing, relying on Elon Musk's pop-culture prominence, though the company used traditional tactics for the Cybertruck earlier this year. Black also urged a 1-2 person PR staff to counter regulatory pressures amid an NHTSA probe into Full Self-Driving, while Gene Munster suggested the probe could signal commitment to FSD development.
Read at Benzinga
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