Talk about anticipation.
By the end of the day on April 7, Tesla Motors had processed $1,000 deposits from more than 325,000 people for its new Model 3, an electric car that won’t even be built until late next year.
“We are not aware of any precedent of this level of order interest for any other car,” Adam Jonas, a Morgan Stanley analyst, told The New York Times.
The extraordinary response to the vehicle, “underscored the demand among consumers for a mass-market electric car that carries Tesla’s luxury-brand cachet,” according to The Times.
While florists aren’t in the business of selling a $35,000 electric car, Mellissah Smith, the founder of marketing agency Marketing Eye, said there are some lessons small-business owners can draw from Tesla:
Turn things upside down. If you’re operating in a crowded market, don’t count on “me too” tactics to stand out. Instead, “make like Tesla and do things differently,” Smith advises. “Too many small businesses fear disruptive marketing and follow the same path as their competitors.”
No deals. Want a Tesla? Pay the asking price. No discounts, no deals. “So many people discount to get the sale but what that says is that your product or service isn’t worth what you originally said it was,” Smith says. “Having a firm price means you stand by your product – people put trust in brands that do this.”
Third-Party Nods. Cameron Diaz, Will Smith, Leonardo di Caprio all drive Teslas. In fact, celebrity endorsements have boosted the profile of the electric car maker. “We live in a celebrity culture,” Smith says. “Using celebrity endorsement, especially on social media, can help build a brand and create followers.” Don’t have Leo’s number handy? You can create powerful local endorsements by encouraging all customers to review your business on Google and Yelp, and to share their positive experiences on their own social media pages.
This month in Floral Management, read more about a shop in Austin, Texas, that’s embraced many of these tactics to great effect, doubling average transactions and seeing double-digit sales increases every year for the past decade, all while building a luxurious everyday brand that refuses to compete with grocery stores.
