Tesla Motors Stockholder Meeting - Tuesday, June 4

[brianman]

I am for some sort of, recognition, but not at the cost of associating the brand with pushy sales.

Agree. Perhaps an incentive program that only rewards "positive salesmanship". Not sure how to target that exactly.

Perhaps something like...

1. After reserving the vehicle with a referral card, the customer is asked some questions about that referral. If the answers "don't meet Tesla's preferences", then no referral reward.
2. On the referral card it says, "If the provider of this card was pushy or overly aggressive in any way please let us know at [email protected] via email. We apologize for any negative experience you've had with overly excited customers. Sometimes they get a little too excited by the Tesla experience."
3. For egregious feedback cases of #2, response to the e-mail politely with information about test drive opportunities with language like "We'd like to make it up to you."
4. For potential customers accepting the offer of #3, give 'em some SWAG (a hat or something).

 

[callmesam]

How about something a little more simple? AMEX has a party for their Centurian (black card) customers once a year.

Maybe Tesla can do something nice regionally for those referring business. Recognition awards for most referrals, drawings for nice prizes, ect. Basically a celebration dinner. Maybe the very highest can get flown out to Freemont and have a special event associated with Gen3 rollout (like test drives of the prototype)

+1 JA.

 

[Jason S]

I figure I will get my model S in 2 or 3 months. I think I will do a case study for how well the model S sells in clusters. I work at a medium sized tech company, and the parking garage has several hundred cars, none of which are teslas. I will put a little sign in the window that says "YES, you can drive it. text me at xxxx". Then I will arrange lunches and weekend get togethers. Keep a spreadsheet of who takes a ride, and keep track of who then gets one. Few 1%'s there, but a LOT of 10% in terms of income. I bet I can sell 20 I would evangelize anyway, but I will take notes. Tesla says 25% of test drives get one. I shouldn't get that high, since a lot will just be curious but I bet I can give out a LOT of test drives.

One of the first people to drive my Model S was a fellow tech person and at his company the CEO has one (not Google). The same guy is seriously considering replacing his aging Corvette with a Model S.

 

[Kipernicus]

Was is it just me that was completely and totally moved by Elon's presentation today? There is something so genuine and honest about the guy. I could feel the pain in his voice as he talked about NADA crowing over their victory as a perversion of democracy. He is an idealist through and through and seeing his pain really got to me.

I don't like to be emotionally involved with companies but Elon's struggle strikes such a deep chord for me. He is trying to do the right thing so much. I hope he inspires a generation of entrepreneurs to think and act like him. I suspect his real legacy will be the hearts and minds he will have changed.

Yes, quite moving and everyone in the room felt the pain. Part of the pain also is that he knows he's on the record and can't say certain things.

Glad I went, and got to meet @GeekGirls too.

 

[Volker.Berlin]

I don't like the incentives. Once there is an incentive, pushy sales people will be attracted to it, perverting the experience. What if they rack up 20years worth of free service and then resale that car at a higher price? I am for some sort of, recognition, but not at the cost of associating the brand with pushy sales.

+1 Thank you for putting it so well.

 

[Grendal]

Yes, quite moving and everyone in the room felt the pain. Part of the pain also is that he knows he's on the record and can't say certain things.

"Gas stations suck" "Dealership Associations are trying to pervert Democracy"

Those were fabulous and very straightforward.

I agree with Musk that it will come down to consumers fighting for their rights when it comes to buying directly.

Awesome job, Kevin. I think you were Elon's favorite person asking questions.

 

[FVO]

13. Zero rent or tiny rent for Supercharging.

What would he mean by that?

 

[deonb]

What would he mean by that?

Since the SuperCharger structures are just created on someone else's parking lot, they generally can just make a deal with the parking lot owner.

He specifically mentioned these are "priority parking" for Tesla cars. Not reserved parking. So from a business owner's perspective, you're not even really out the parking spots - but you get a way to draw more customers, and for free.

Hence, Tesla gets charged a 'zero rent' or 'tiny rent'.

 

[FVO]

Thx deonb

 

[ggies07]

Loved your questions about the June 20th announcement (easily the best question of the night!) but I don't expect to see this proposa ever happening. Would be cool buy c'mon, anyone who has a Model S is going to evangelize it for free anyways!

Heck, even people like me who can't afford one still talk up the company to friends and family. I've got an aunt who could afford one and even sends me links to Tesla articles now(even though I know whats going on already) because of how much I've expressed my passion for it. If she wasn't so frugal, I bet she would have one by now!

 

[Cattledog]

Like the matching app idea a lot! Tesla's version of match.com! I think my wife would be horrified, but I'd do it.

Great point and I actually had an idea that owners could put together a matching app that would allow us to find people that had signed up for test drives in states that don't allow them by Tesla.

If you give a certain number of test drives or any that result in sales, then Tesla could reward our ingenuity.

 

[Curt Renz]

Word of mouth recommendation for any product is far more believable, if the product owner is not given compensation by the company.

 

[bollar]

Word of mouth recommendations for any product are far more believable, if the product owner is not given compensation by the company.

Yes. Although I like free stuff as well, I think no compensation or recognition is the better plan.

 

[Curt Renz]

Yes. Although I like free stuff as well, I think no compensation or recognition is the better plan.

Indeed, and in this case the owners are already providing enthusiastic recommendations without compensation. If compensated, they would sound like bad actors and not appear credible. I hope Elon discards the idea of bird dog fees. Tesla Motors should be above this old dealership trick.

 

[Citizen-T]

My realtor invites all her clients to a Christmas party each year. It's a fun little event with a cash bar and some free finger foods. She does some raffles including one for anyone that bought or sold a house that year and another for anyone who referred someone to her.

I kind of like this idea. Not compensation per se; but, if you sell a car, you get an invite to Tesla's VIP customer event. Maybe they raffle off some cool prizes and you get your name entered into the raffle once for each car you sell. I think something like this wouldn't be so much compensation as it would be a "thank you".

 

[Curt Renz]

How would someone prove he brought in another buyer? That other buyer would have to vouch for him. That second buyer might then complain to their mutual friends that the first buyer made a recommendation in order to obtain a compensation fee or other benefit from the company. Then the word would likely spread further that owners are being compensated for recommendations to the point that all potential buyers become aware of this. That's not really the way to go for a company producing a top quality luxury sedan that already benefits from great word of mouth advertising. It could be quite counterproductive.

 

[napabill]

If Tesla reimburses you, wouldn't they then be in violation of the law? By accepting compensation, you would become a sales person. They are incentivizing you to act on their behalf.

Probably not going to put a program like that in place. Plus, there are additional issues like who do they compensate if more than one Model S owner has evangelized to the same customer ... paperwork on this would be 'not fun'.

How about awarding reputation points for each referred sale. Could then be used in the catalog.:wink:

 

[gregincal]

How would someone prove he brought in another buyer? That other buyer would have to vouch for him. That second buyer might then complain to their mutual friends that the first buyer made a recommendation in order to obtain a compensation fee or other benefit from the company. Then the word would likely spread further that owners are being compensated for recommendations to the point that all potential buyers become aware of this. That's not really the way to go for a company producing a top quality luxury sedan that already benefits from great word of mouth advertising. It could be quite counterproductive.

I really don't see why it would create ill feeling. We wouldn't be talking about anything big (free annual checkup is way too much). I do see it as just a kind of thank you rather than a big deal. I don't think it's necessary, however.

 

[ken830]

This is getting off topic. I'd say no compensation or referral bonus. The car sells itself. And the owners are so enthusiastic about the product that they want to show it off to others. We are already at the best case scenario. Why mess it up?

 

[Rodolfo Paiz]

Anyone else notice the slide where "all-wheel drive" is mentioned for 2014, separately from Model X? If they offer an AWD Model S, with redesigned A/C vents for the trunk so my kids don't melt, I'll trade in for a new P+ immediately. (Actually, just the vents would get me to trade in, so I hope AWD is ready before then!)