Hundred and forty-six thousand (1,46000) pre-orders with eight billion dollars worth of future revenue within 48 hours. after Elon Musk cyber truck launched amazing just with deposit.
Elon Musk has collected tens of millions of dollars.
Today I’m gonna teach you five lessons that you can learn from the cyber truck launch.
If you are a marketer, an entrepreneur for yourself or are you just curious. what made that launch so successful now if you have not watched that particular video.
Here is the Video
Lesson 1: Controversy Sells
Now before cyber truck launch, Elon was already getting a lot of publicity a lot of buzz around this new launch this new car the whole world is waiting for it.
What’s gonna look like when it’s revealed a lot of people guess what at first hated.
The design they say it looks like a car from Mars they say Elon is crazy did he gets confused is it a car for SpaceX.
This is not a car for planet Earth. it feels unfinished a lot of people. they say that they look like a truck from Total Recall.
some say that it looks like a paper airplane.
some say that it looks like a lego.
Creation doesn’t matter the key is a lot of people are talking about the cyber truck. everybody’s talking about it and you can see it on social media.
comment below if you’ve seen on social media
How much publicity cyber truck gets compared to a typical truck or car launch.
It’s a big difference, love it hates it doesn’t matter. he is getting a lot of publicity and that’s the genius of Elon.
So doesn’t matter. what you do controversy sells don’t be afraid to sometimes offend somebody loves me or hate me just make sure they don’t ignore me.
You need to get attention to the marketplace what do you need to do controversy sells.
Lesson 2: Leverage Your Personal Brand
Let me ask you a questions
Do you know the name of the CEO of Audi? No.
Do you know the name of the CEO of BMW? No.
Do you know the name of the CEO of Ford? No.
Do you know the name of the CEO of Tesla?
YYes, Elon Musk.
Why do you know Elon Musk and you don’t know the CEO of all these other automobile companies. because they’re never fully built out and leveraged.
Their personal brands versus Elon Musk. he did so think about it. when you are a personal brand it’s much easier to get publicity because let’s say.
You want to get on a TV show, you want to be interviewed, you want to get on the radio, you want to get on podcasts. all these other platforms or all these other media well.
It’s kind of difficult. To do it as a company right and some companies they have what we call spokesperson but it’s way more powerful.
When you are the leader of the company. that you are the CEO of the company. that you are promoting your brand you stand behind.
Your product is no different than Warren Buffett. promoting fresh air hathe way, no different than which a Branson promoting virgin
It is the same when you have a strong personal brand. you could get extra publicity you could go to places that other people cannot go and one thing I’ve learned over the years as an entrepreneur.
What you do changes now this is very profound right it’s down. what you do changes just because you’re in this business today doesn’t mean you will be in this business 10 years from now.
Industry changes what you sell changes when you have a strong personal brand. when you leave with a strong personal brand people buy from people they know like and trust
So, Elon Musk if he wants to he could talk about that cyber truck presented a launch two months later. he could talk about SpaceX it doesn’t matter because you’re not just buying the product.
Yes, you are buying a product but you’re also buying the personal brand you have a relationship with the personal brand.
Lesson 3: Live Event
We see most automobile companies. when it launched a new product they might run some TV commercials, they might do some radio ads, they might run some newspaper ads.
But it’s never a launch even they try to do launch they try to do a little announcement but they don’t get a lot of attention.
The media wants to know what is Elon gonna do what is he gonna say this is itself entertainment for the public.
Very very powerful which by the way he learned therefrom Steve Jobs Apple. Steve didn’t just talk about the product he launched a product.
Elon didn’t just talk about the new cyber truck he launched the new cyber truck through a demonstration.
Which we’ll get into one genius thing that he did is actually he sold the product before he actually creates the product
So the cyber truck doesn’t go into production until late 2021. it’s going to be and yet he has already collected tens of millions of dollars in deposits except the costs of making their prototype.
That is cash flow for the business not that he needs a cash flow but there is cash flow for the business.
So, I want you to think about how you can apply this to your business. can you actually sell something before you create it so let’s look at a different scenario.
What if at the cyber truck launch the response from the public actually wasn’t spectacular that people actually don’t like the truck.
Didn’t sell that well didn’t sell a billion dollars worth of pre-orders. what happened what does it cost.
Elon accepts the prototype then he would just take the feedback from the marketplace.
And say you know what people like this
and they don’t like this
and they hate that let’s change it
Let’s improve it and then he could steal we launched the next truck isn’t that brilliant.
Now people love the truck they loved it so much they would make a deposit great
We now know there is a proven demand proof of concept crazy concept. but proof of concept now we go make this cyber truck you see the difference very very powerful and other things that he did it
This is a bonus lesson he utilized the three boxes strategy now if you have not watched that video you can click the
Watch the video after 10:30
Where I talked about the three boxes and how you could use pricing to create demand for your product
How does Elon Musk apply the three boxes strategy you could see with the cyber truck there are three different models
You have the 39,900 one you have the $49,900 one and then you have the 69,900 dollars.
When you watch the video you’ll see exactly what I mean and what he did very very brilliant now here’s my prediction.,
You can date it right now he’s my prediction when the car comes out because is so unfinished. People would get very very creative they would ping put on different pink colors on it right.
Some I make it black some might make it silver someone makes it blue and somebody makes it yellow. Who knows but people would be able to exercise their own creativity what they.
Want to do with the cyber truck as a result when you see this thing driving down. the highway you see a four truck or any other trucks and you see this thing in some interesting patterns or color
Everybody would be talking about it when everybody talks about it. when you see enough you say to yourself that’s actually a pretty cool truck maybe I should get one boom right there
Elan musk close you that’s my prediction
let’s see what happens a billion dollars.
Lesson 4: Selling Against Now
If you watch the entire presentation Elon was closing from the stage you would see something quite fascinating
He’s not telling you what the truck is more so he’s telling you what the truck isn’t
He’s selling against the conventional wisdom what a typical truck would look like first of all it doesn’t look like any typical truck.
He would do their comparison right he would do different demonstrations and one of the demonstrations. that I love that he did was to see pulling a truck
The two trucks cyber truck and Ford which one is more powerful which one has more power and I love what he did he first showed.
The two trucks and then you could see that it’s just the cyber truck. it’s kicking ass right and then he said oh it was uphill.
So, Elon was bragging but in a very humorous entertaining kind of way and just to demonstrate hey you know what our truck our side.
My truck is different so in the marketplace sometimes yes you tell people.
Here’s what my product is these are the features these are the benefits very crowded marketplace sometimes. the best way to cut through the noise is to tell people.
What your product isn’t what is not who is not fun you would get more attention just like.
When Elan was on the Joe Rogan show smoking the weeds you know may not be the best idea for the CEO of a public company to be smoking weeds.
You know on social media and you know they hurt him a bit but that also created a lot of controversy and publicity around.
Elon Musk may not be the smartest thing to do but if you think about it. now more people are aware of who he is and most people know who is already but still, there’s a new audience because of that incident.
Who wasn’t paying attention to Elon Musk now they are paying attention to him billion.
Lesson 5: We View Your Flaws
Now one of the highlights from the cyber truck video you will see it. when the window was broken during a demonstration twice now the whole world was talking about why the window broke.
Franz throws steel ball at Cybertruck window right before launch. Guess we have some improvements to make before production haha. pic.twitter.com/eB0o4tlPoz
— Elon Musk (@elonmusk) November 23, 2019
What happened now you might think all now that the car doesn’t work it. Wasn’t what Elon Musk promised like the whole world it’s laughing at the demonstration maybe.
However, think about it a lot of YouTube videos you could see it people are dissecting and analyzing.
Why the window broke what actually happened was it planned. was it an accident how could Elan’s engineer allowed that to happen.
Tesla what the heck is going on what I say is who cares if it’s a planet. I think that it is brilliant if it’s an accident that’s a very very good accident because people are talking about it.
They’re hardcore fans of Tesla I could tell you that it doesn’t actually prevent them from buying. if anything it gives them more confidence because it’s a fan of Tesla.
What they’re thinking wow this is embarrassing when Elon Musk knowing his personality. he’s gonna fix it before production so the final product is gonna be getting much better. I’m buying that truck I’m placing the order for that cyber truck today.
Great you sell more trucks for the audience they’re not expecting it to be you know to be like bulletproof and I’m approving all this stuff anyway. who cares it is just a strong demonstration like that’s pretty gutsy and people talk about all the time.
So, I want you to understand that it is not a product demo it’s closing from the platform.
It is a skill and now I do argue and I would say that Elon could probably work on his platform. closing skill his communication skill his stage presence a little bit more but guess.
What he is the CEO of Tesla a kind of Tech company.
So for him, I think that works for him that it is not sold a smooth little bit geeky introvert that plays very well with the personal brand that’s my take on it.
But I do think there are some things that you could work on so how can you apply this in your business don’t say your product is perfect.
Tell people what is the issue. what are some of the flaws if you have some and we all have some all products have some no products are perfect. this reminds me of kind of the Starbucks coffee cup in Game of Thrones.
Now I would argue it’s pretty crazy for nobody to catch that during
Editing for Game of Thrones that coffee comes on the table but then guess what everybody was talking about it.
It was a flaw but yet now the fans who are game of throne they’re like what the heck is that a coffee cup the fans who are not gamer fill what coffee cup.
Let me watch Game of Thrones and find out how they’re watching the daunting 10 times put it in their common if you’ve done their right
Is it right they watch the episode, again and again, try to find that two seconds a flaw people like to see that so if there are flaws about your product we view it.
May be to tell the audience you know what this product the flaw it’s very expensive to tell them fun it’s not for everybody it’s good it’s powerful.
It works but it’s expensive don’t try to hide the fact that it is expensive or maybe you tell them hey this is great but it only works in certain situations.
It doesn’t work in this situation it gives people comfort instead of trying. to make crazy claims that you cannot back up people know people are skeptical
So if there are flaws we view it upfront to your audience. it builds trust with the marketplace.
So what are your thoughts what do you think of the cyber truck launch comment below?