Carmaker Tesla has expanded its advertising reach by launching a campaign on Cars.com and buying ads on Facebook, as observed by electric vehicle (EV) owners and enthusiasts.
By advertising on Cars.com, the leading automotive classified website in the U.S., Tesla can reach a wider range of consumers actively searching for automotive information and products.
According to the automotive marketplace, it offers an average of 26.4 unique monthly visitors and over 13 million reviews.
The new campaign on Cars.com comes after years of minimal advertising expenditure, with Tesla CEO Elon Musk deleting the EV brand’s official Facebook page in 2018 and even posting on X that he hates advertising.
In 2019, Tesla didn't spend anything at all on advertising.
Tesla Returns to Facebook
In a surprising turn of events, the EV giant has now relaunched its Facebook page and even started buying ads on the social media platform he always criticized.
Tesla began buying Facebook ads on March 22 and has since sponsored 29 ads, particularly focusing on its Model Y crossover.
It's a known fact that Musk and Facebook Founder Mark Zuckerberg have an ongoing rivalry, with both billionaires being vocal about their negative feelings toward each other.
This is the reason why Tesla’s return to Facebook and its ads on Zuckerberg-owned Instagram are causing quite a stir, especially within EV communities.
BREAKING: Tesla has officially started paid advertisements on Instagram for the first time.
— Sawyer Merritt (@SawyerMerritt) March 26, 2024
Instagram has over 2 billion monthly active users, or ~25% of the global population. pic.twitter.com/j0z1oCfqNP
It's the first time that the Musk-owned EV brand bought ads on both platforms.
Analysts are weighing in on Tesla’s low-key shift in its advertising strategy, with user @CathyKichler posting on X that, “Tesla took a big step by metaphorically holding their nose to buy Facebook Model Y ads.”
"Why? It's important to gain key demographic exposure. Most American women are active on Facebook and they make 50%+ of US car buying decisions," the user added.
Tesla Changes Its Advertising Strategy
The decision to shift its advertising strategy comes at a crucial time for Tesla, as the company faces challenges such as a sales slowdown and volatile stock performance.
Musk's acquisition of Twitter, now known as X, and subsequent financial moves have added complexity to Tesla's finances, raising questions about leadership and financial stability.
The company's challenges extend beyond Musk's actions, encompassing customer alienation, revenue decline, and competition from legacy automakers.
By embracing change and exploring traditional advertising channels, Tesla is finally addressing these issues and connecting to a wider audience to drive further business growth.
It seems that, in the end, Musk still values profitability over rivalries and feuds.
