Fierce Competition, Limitless Engagement: GoPro.
A sample work specifically for a class Content-Strategy-Development-Marketing with Full Sail University.
In week 1 of this Blog post series, we looked at the company GoPro. We identified their target audience, types of content chosen, specific distribution channels used, products & services offered, business goals, call to action, as well as problems facing the business.
This week, we address the problem areas, look at benchmark content from competitors, and identify one specific content distribution channel to focus for our target market.
What is the main business goal of GoPro?
GoPro seeks to become an inclusive ecosystem where their consumers connect, engage, learn, and become community. Their business goals include using their digital action cameras, have access to editing software, accessories / gear, and an annual subscription service allowing for unlimited data use and camera exchanges annually. This plan helps create quite a force to be reckoned with in the action camera arena.
What type of content is most appealing to their target market?
Video content seems to be the most appealing to the target market and audience.
Last week, we looked at Video, Email, and Blog tutorials. Of these 3, we decided that Video content was the main focus. The whole business model is built around creating content by creators, creative adventurers, travelers, and independent entrepreneurs. Looking at 3 major market competitors, there are some valuable information we learn from...
DJI Insta 360 Akaso
#1 DJI
Although primarily in the DRONE industry, many of their drone products could replace the action camera used by GoPro.
DJI drones have many if not all of the features needed to do what the action cameras can do with GoPro. A more portable and personal drone is called the DJI Neo , a handheld drone seen below, can follow you around instead of carrying a camera. DJII has a platform called SkyPixel which is designed for creators to provide endorsements, opportunity contracts, and promotion on their platform. This is really a huge benefit to content creators to expand their own unlimited potential. This type of platform could be an amazing opportunity that GoPro could learn from or partner with. DJI also uses the same social media platforms as GoPro. Although GoPro, has unlimited storage potential through their subscription service, that may not be a primary concern for consumers. DJI also has compelling videos with the same "target market".
Another amazing new product is the Flycart 30, which is a drone carrying cargo. This unique product has many uses from emergency to military use. At a cost of around $42,000, this innovative product gives a new perspective to the world of technology. Although this technology is not in the action camera industry, this shows the unlimited possibilites that GoPro could take advantage of and even partnering with other companies.
#2 Insta 360
Much like GoPro, Insta360 packs a punch with their action cameras. As with GoPro, their cameras are made for creators and adventurers, but many of them are created for the entrepreneur and business world as well. Insta 360 goes somewhat beyond with their reward system with Insta360 Reward. They have a cash rewards program that rewards content creators that submit their videos. Although, I didn't see DRONES on their website, but it's obvious that Insta 360 has a comparable product line of action cameras. GoPro has a subscription service which is basically a benefit to consumers for storage, special editing software, and a free exchange of one action camera per year. This type of service seems to be good profit center for the GoPro company, but may not be the most beneficial option for consumers. Most content creators with Insta 370 use Adobe Premiere or some other computer related editing system. Insta 360 also uses the same "target market" and social media platforms as DJI and GoPro.
Insta 360 gains some earned media attention with Evan Lalanne, in this promo video for Insta360. In this video, content creator, Evan, is seen with well known TV personality Ellen Degeneres which elevates the brand.
#3 Akaso
Although not a leading source of action cameras, have great products and are growing in the marketplace. They also, have compelling videos showing use of their cameras with the same "target market".
A couple differences that Akaso does with their brand is provide a referral bonus of 6% for friends. To learn about the referral bonus, click on the link.
This is a unique way for content creators, producers, vloggers, to add more revenue to their current streams of income.
Akaso is the first company to also develop Night Vision goggles with AI built-in capabilities. Built for hunting, camping, night watching, emergency rescue, and all outdoor explorers. Battery charging by mobile power. SEEMOR This also is an area to consider for GoPro. In most of the videos seen, they are during the daytime. Having an action camera that could be used at night, would enhance their brand in many ways.
Conclusion:
Based on my research, I believe GoPro is still the main leader in the marketplace in the action camera industry. The action camera market will be strong for years to come, especially as the world of content creators continues emerging. However, these 3 options that I have alluded to, DJI, Insta 360, and Akaso, all point to continued innovation and strengthening of markets. It would be a great idea for GoPro to merge or partner with some or all of these brands. Each brand has some unique features and or products that could coincide with the GoPro brand, target market, content perception, and brand strategy. Often times in our history, we see brands merging to create more powerful options for future growth. This could very well be a means for GoPro. Nevertheless, the action camera industry is strong, competitive, and GoPro is positioned well to provide action seekers a great tool to capture life's moments.
