GoPro (GPRO) has a multichannel marketing strategy across social media platforms, including Facebook and Instagram (FB), YouTube (GOOG), Twitter (TWTR), and others. GoPro also targets print ads and showcases products in global tradeshows, such as the Consumer Electronics Show and Outdoor Retailer.
The company has partnered with several athletes and social media influencers and is part of top-tier events such as the MotoGP. In the first quarter, GoPro reduced its marketing expenditure by 27.5% driven by a fall in sales. We’ve seen that GoPro intends to reduce its operating expenses and allocate these savings to its international marketing budget.
Increase in market share for Europe and Asia-Pacific regions
Over 60% of the total revenue GoPro generated in the first quarter came from international markets. In Europe, GoPro accounted for 44% of the action camera category by unit volume and 72% by dollar volume.
In the Asia-Pacific region, GoPro’s market share rose from 45% in the fourth quarter of 2017 to 52% in the first quarter of 2018 in terms of unit volume and from 63% to 65% in terms of dollar volume. In Korea and Japan, GoPro’s sell-through increased by 46% and 22% year-over-year, respectively, in the first quarter.