Media Edge: Tesla starts advertising heavily on Google for the first time
Media Sales Lead: Tesla Motors has officially begun advertising on Google. Right now, the company is running 18 ads in the US and UK, and it will likely continue launching new work. Tesla will probably also start video advertising soon on YouTube. This is the first time Tesla has really advertised since in the past, founder Elon Musk has said he wanted to improve his products with the millions other automakers might spend on advertising. However, Musk said during the company's annual 2023 shareholder meeting that Tesla will continue trying "a little advertising."
Key Lead Takeaways: Reach out soon to secure some of Tesla's increasing digital ad dollars.
Target Demographics: Millennials and Gen-X with a strong male skew
Key Spend Notes:
- Spend shift summary: Digital spend is increasing significantly and will likely continue to do so.
Digital Display & Social Media Spend Analysis & Breakdown:
*Note that Pathmatics categorizes Tesla under Auto*
- 2023 YTD Spend: $15.6k
- STP 2022 Spend: $11k
- 2022 FY Spend: $23.7k
- 2021 FY Spend: $185.9k
- 2020 FY Spend: $112.2k
YTD YOY Spend Increase: 42%
YTD Ad Flight Breakdown:
- Q2 2023 Spend (to date): $10.2k
- Q1 2023 Spend: $5k
- Q1 2022 Spend: $2.5k
- Q2 2022 Spend: $7.9k
- Q3 2022 Spend: $5k
- Q4 2022 Spend: $8.3k
YTD Impressions: 1,503,800
Top Ad Types: Digital Display (79%)
Top Purchase Channels: Direct (99%)
Top Publishers: Autotrader.com (86%) and Instagram (14%)
Top Industry/Vertical Spenders (YTD, by spend): Hyundai, Toyota, Nissan, Mazda, Honda, Chevrolet, and Infiniti
Top Creative by Spend; see below: (note that not all creatives debuted in 2023).
Other Media Spend Analysis & Breakdown:
Top Sponsored Podcasts: Conservative Review with Daniel Horowitz, The Brian Lehrer Show, Slate News, Talking Real Money - Investing Talk, and Akashavani English News
Recent & Upcoming Product Launches: American EV, The Model Y (recent)
Current Agency Roster:
- Stellar Elements: US creative and digital agency partner
- In-House: Creative
Insight Sources: Digital spend insights estimated by Pathmatics; podcast insights by Podchaser.
