Strategies Elon Musk used to promote Doge and his personal branding?
Sharing the room with eminent marketers like Steve Jobs, Elon Musk has been among the top marketers in the world. This became clearer by the time spent on posting around 4 posts a day on Twitter and marketing an underneath product while we believed he was selling cars!
Now the question that pops up in our mind is, Is Elon strategic in his moves?
Of course, the answer is yes. He has been blowing people’s minds by first taking Doge to the moon, posting frequently on Twitter, and then the magnate buying Twitter.
But what are the strategies that he uses? From gaining trust to hyping his product, Elon Musk strategically plans his next moves.
1. Systematic Planning
Instead of raising his idea of buying Twitter, he first became a 9% shareholder of the company. Surprisingly, only 9% when he could buy the whole of it! But wait, was there something else in his mind? Maintaining transparency, he openly shares his ideas with his followers, gaining their trust and making them feel as if he is ‘one among them’. Over time, this changed in the business tycoon buying Twitter instead of a direct proposal to the board of directors to buy it, which could have been rejected.
2. The Right Hand Man
Elon Musk once tweeted, “tesla stock price is too high.” Can you imagine a business owner marketing against their own company or products? This led to a drop of approximately 10% in Tesla’s share price. Although Musk suffered loss, he had a long vision to connect with his followers.
3. Thinking about the Audience
It is important to create products according to the requirements of its customers, butare customers the only people interested in any product or service? Strategic human resource management has a different take on this. According to it, a company should work in accordance with both investors and its customers. This helps people to adapt quickly to the brand and opens doors to its growth.
4. The hype bigwig
It is important to create ear-to-ear news around your product or service. But how to do it the way Elon did it? By speaking quite frequently about Doge, he left an impression in people’s minds. Gained trust from his earlier posts and making statements like Doge to the moon he left an impact. Everyone could hear about cryptocurrency from one person or another other and almost everyone was seen buying it.
The mastermind uses his marketing strategies quite frequently and efficiently. There is so much to learn from him and implement correctly in your businesses or services. Reach out to us, in order to furnish your idea about marketing and grow your company or should we say ‘take it to the moon’.
Here are his tweets about dogecoin, which highlighted and helped the currency to gain the fame -
Now the question is, what’s the future of Dogecoin?
Dogecoin, the meme cryptocurrency that Elon Musk popularised, has gained new momentum as a result of his acquisition of Twitter.
The Tesla billionaire tweeted "the bird is freed" to declare possession of Dogecoin, which resulted in a twofold increase in price.
Since it’s launch by two software engineers in 2013, Musk has in fact had a significant impact on dogecoin's growth. His tweets endorsing the coin, including one that referred to it as "the people's crypto," saw its price rise by approximately 4,000% in 2021, seemingly out of nowhere.
Crypto observers claimed that investor wagers that Musk will integrate doge into the platform's (Twitter) payment mechanism were what caused the most recent price increase, which came after the Twitter purchase.
There is a plethora of speculation that Twitter will serve as a testing ground for doge adoption and experimentation for various uses.