There are some brands whose image and reputation are inextricably linked to their founders or CEO. Steve Jobs and Apple. Richard Branson and Virgin. Bill Gates and Microsoft. Jeff Bezos and Amazon.
But one thing all of these brands have in common is that, despite these links to their leaders, they also invested heavily in marketing and advertising to establish a voice of their own, separate from that one individual.
Which brings us to Elon Musk and Tesla. Automakers spent more than $15 billion just on U.S. digital advertising in 2019. Tesla instead relies on a mix of splashy product events, customer word-of-mouth, and Musk’s social media megaphone. And lately, the latter is starting to look like a liability.
Whether you’re Team Musk or not, for Tesla to truly realize the potential expected in its skyrocketing stock price and gargantuan market cap, it’s going to have to expand beyond its founder and find its own brand identity. Maybe now’s the perfect time to start. Read more here