5 Key Branding Take-Aways From Elon Musk`s Journey to The Billionaire Club

  • Share post on:
Shannon Robinson

27th November 2019

Shannon Robinson

If you want to move ahead, you will have to be something that someone can get behind, and in order to do that, you have to have a company image. And when I say company image, I am referring to a brand. While I know that corporate -world concepts such as marketing and branding might scare you like anything, I would strongly advise you to start thinking about it as soon as you can because, without that, your movement will not hold together and be successful.

We live in an era where activism lives at an intersection with branding, no matter how organic it may be. You will notice that every company, big or small, has a brand in one way or another. The only reason why you know about some of the brands existing is because they are more successful than others. And when it comes to brands that are ahead of the game, I cannot think of any other but Tesla. The brand was efficacious enough to grab the world’s attention like greased lightning. Yes, I am talking about Tesla by Elon Musk, The Billionaire.

SpaceX CEO Elon Musk

Elon Musk is undoubtedly one of the world-wide best CEOs that we know in the tech industry. He not only was the manufacturer of the electric car Tesla, but also was a man of other massive projects like Paypal (co-founded) and the first private company delivering goods to the International Space Station called SpaceX.

You must be wondering why Tesla stands out when it was not even the first electric vehicle in the market? What still got the brand a place no one can replace? Well, this is where marketing and branding does the job.

It is no surprise that today, many marketing experts look up to Musk’s journey of becoming a billionaire for branding lessons. Musk was wise to use marketing tactics that may seem counterintuitive at first. Instead of emphasizing on what to tell his followers, he focused on how the world sees his brand for what he did.

Here are some innovative branding tips from Elan Musk’s life that can fascinate your customers in no time:

1) Discover your “why?”

The emotion is not something imperative for branding and marketing, but for every job out there. You cannot come up with an idea and start working on it unless you know why you chose it in the first place. Remember that finding your purpose is never a straightforward task. You will have to evaluate your own beliefs and values to divulge your impetuses.

SpaceX CEO Elon Musk

You and your why is just about making lots of progress, hence, try to dig deeper. There must be something for sure that made you filter this from the sea of notions you had in your mind. Musk always believed that we could only prosper and grow if we have an unfailing and affordable means of transportation. He did not limit his imagination to figure out ways of becoming a billionaire, instead explored his passion, which was to see a future with traffic based on sustainable sources of energy.

2) Try to be clear about your “what?”

Bringing clarity to your actions is as important as your why. Be sure of what you want to do for your passion (why). This does not have to be describing your business or the type of industry you are currently working in. Plan everything that could work out for you in the long run. If you only think in the context of your current situation, you will end up missing opportunities for breakthrough innovation and invention.

SpaceX CEO Elon Musk

Elan Musk’s Tesla would never come to be if he had limited his space to electric transport production standards and accepted the current state of battery technology.

Keep in mind that everything will not turn out the way you thought. There will be mishaps and failures, but if you already are prepared for that, nothing will stop you from being at the top ladder. This is why they say, “Touch on the “villains” that must be conquered and the “dragons” that must be slain along the way.”

If you can bring this level of clarity into your actions, you will undoubtedly create an emotive and more compelling story for yourself, just like Elan Musk has done.

3) Be creative!

SpaceX CEO Elon Musk

A product or brand will never draw attention if it is falling in the conventional stream. People will never go for your newly launched product if a similar one has been there in the market for years. You will have to think out of the box and go beyond people’s expectations to win.

Of course, the industry for electric cars wasn’t something new to people, but nobody tried to make a sports car in the category. Tesla was a huge hit right after its arrival in the market. Electric vehicles at that time happened to not only be hybrid sedans for environmentalists anymore. Instead, the whole idea of hybrid had disappeared. You can drive Tesla from the American coast to coast with the network of supercharging stations. Now, this not only makes this sports car a new one, but a statement of a whole new era.

4) You should know when to apologize!

Reputation management is one of the significant elements that people often tend to ignore. Remember to learn how can you own up to your mistakes in a practical way, no matter if it is because of your personal failure of the company itself. I am sure you have heard of the Tesla controversy that dropped its shares in no time? Well, it was because Musk became impatient during a post-earnings conference with two Wall Street analysts and criticized them for the “boring, bonehead questions” they asked.

SpaceX CEO Elon Musk

Elan knew if he does not apologize soon, the drop of shares will undoubtedly rise. He, therefore, admitted that he is wrong and apologized immediately to both the analysts of Wall Street and explained it was because of lack of sleep and the burden of work. “The most valuable apology of all time” added almost five billion dollars to its stock value.

5) Know your target audience well!

Do not forget that you are not the hero if your own story. I am sure no one would want to come across as a bragger!

I am not saying that entrepreneurs like Elan Musk don’t have a certain level of arrogance, because they certainly do. However, successful brands not only describe the “why” and “how” with their personal stories, but also ask their audience to be a part of the story.

SpaceX CEO Elon Musk

Your personal brand should not be all about the closing of the deal. It preferably should provide a few clear sentences to open a doorway for the target audience to relate and engage with you. To maintain this connection with your audience, you have to figure out what they are looking for next always. Knowing your audience well will help you design the right product of your brand. Focus on the needs of the people instead of the wants. They are more likely to buy what is a necessity rather than a desire, which often comes as a second priority.

Need Help?

Once you are done with the required research, the next step is the execution of your ideas. And all the branding and marketing is not possible without giving a visual identity to your ideology. Designing the right logo will get you right there. It not only will act as an identity for your business, but also will help you increase your sales.

Uptown Logo Design will help you at every step of your journey because they are the best in town!

Register now and avail discounts worth 80%!

  • Share post on:

Comments are closed.