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INSIDE THIS ISSUE:
Clean Up Your Company’s Slop
What Our Clients Are Saying Are You Creating Your Own Bad Luck? Book Review: ‘The Referral of a Lifetime’
ELON MUSK HOLDS THE KEY TO KILLER MARKETING CAMPAIGNS ACQUIRE NEWCUSTOMERS FOR FREE THE TESLA MODEL 3WAY
The Key to Great Mobile Ads
Get to Know Neal Didonna
Patagonia Is on a Mission-Driven Mission
Have you ever felt like some people simply don’t have to play by the same rules to get ahead? Elon Musk, for example, can get free PR whenever he wants to. And Uber violated laws in hundreds of cities when it first started, and no one got arrested.
profit on them, and then pay a reduced customer acquisition cost. If that sounds good, keep reading.
You’d think that, as a billionaire, his money troubles would go away, but his burn rate is thousands of dollars a minute. Selling more cars was not going to be the solution to the issue, so Musk, being the genius he is, invented a brand-new Tesla Model 3. Although he was years away from being able to build a Model 3, the idea of a $35,000 Tesla was too good for the masses to ignore. Musk knew that if he got his message out to the world, people would flock en masse to reserve one. So Musk flexed his PR muscle, and low and behold, 550,000 people gave him a deposit of $1,000 to reserve a car that was years away from production.
To tell this story properly, I’m going to have to take you back in time a bit.
Us small-business guys make one little mistake, and the world comes down on us like a ton of bricks.
The year was 2016, and Elon Musk needed some cash, which he often does.
It doesn’t seem fair, but that is life, right?
There was a new battery factory in development and a massive burn rate that needed to be fed. “Selling more cars was not going to be the SOLUTION TO THE ISSUE, so Musk, being the genius he is, invented the BRAND- NEW Tesla Model 3.”
So what? You and I can’t get the PR of Musk or risk breaking laws like Uber, but that doesn’t mean we can’t use some of the elite’s tactics to grow our business. One of my favorite tactics is a referral spin on Musk’s Model 3 promotion. Let me first explain what Musk did with his Model 3 promo. To grow Tesla, Musk always needs a massive amount of cash. As just one example, Musk wants to build Gigafactories to build lithium-ion batteries. What is a guy to do when he needs a billion dollars or so to complete a battery factory and doesn’t want to pay interest? He invents the Model 3. That story will show us how we can use a similar tactic to generate customers for nearly free, turn a
That’s $550,000,000 in deposits collected. It really was a stroke of genius.
But it wasn’t only money Musk got. As a suave entrepreneur, Musk realized he had an amazing leads list and that, with a little email marketing, direct mail, and a bunch of salespeople, he could likely upgrade some of those deposits to full paying customers.
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