The late night host becomes a volunteer pitchman for Tesla.
On the Colbert Report, Stephen Colbert was known for his “product placement” appeals for Doritos and other products. Now on his new CBS show “The Late Show With Stephen Colbert,” the late night host is making a pitch for one product he really loves.
Colbert drives a Tesla Model S, and according to Bloomberg, he spent several minutes on a recent show talking up the car’s latest features. With the most recent of Tesla’s wireless upgrades, Colbert noted that his car could now drive on its own.
A thirty-second ad on Colbert’s CBS show costs companies nearly $40,000. But Tesla does not buy television or radio ads, or do nay traditional media marketing, so celebrity endorsements are among the company’s most valuable marketing tools. The savings from avoiding paid media also frees funds for Tesla to devote to engineering and product development.
Colbert is just the latest celebrity to ring the praises of their Teslas. Others include actress Alyssa Milano, director Jon Favreau and Teller (of Penn and Teller fame). Oprah has also shared pictures of her Tesla with her millions of social media followers.
Tesla can use the celebrity love these days. The company’s Model S was recently downgraded by Consumer Reports, due to complaints about reliability, and the company’s stock is down for the year.