Stretch: Start-up launch in Europe
A classic Silicon Valley start-up shows how classic PR really can workIt is in the genes of Silicon Valley start-up to spend a great deal of time and energy evangelising. Only this way can they establish the brand and reputation they required to take their innovations to market. Semiconductor company Stretch invests 20% of its total marcoms budget in PR doing just that. Stretch illustrates just how effective classic start-up PR strategies remain today.
Hotwire launched Stretch in Europe in April 2004. The company was founded only two years earlier by CEO Gary Banta, becoming the first company to offer software-configurable processors which have the advantage of ease and flexibility of development coupled with lower time to market and developmental costs.
When Stretch turned to Hotwire for its European launch, Hotwire knew it needed an approach that would establish a media presence across Europe swiftly in all key media. Stretch had three objectives. The first was to create awareness and understanding of both its value proposition and its market position. Within this objective, the campaign needed to put the spotlight on its software-configurable processor technology as a compelling alternative to accepted chip designs and architectures. Its second objective was to drive adoption of Stretch technology among a technical audience. Beyond that, Stretch wanted to build the reputation of its executives as forward-thinking thought leaders in the IT industry – not just in the semiconductor space.
Hotwire developed a classic Silicon Valley start-up campaign strategy, knowing that Stretch had the capability to deliver. The first step was to create awareness and educate selected analysts and top-tier electronics and tech media through a launch tour in France, Germany and the UK. In total, 26 meetings took place with analysts and top trade magazines such as Gartner Group, Embedded System Engineering, Electronics Weekly, EDN Europe, 01 Réseaux IP, Design & Elektronik. This was augmented with a visibility campaign and supporting presence at trade shows such as Electronica. At the top of the company’s list was expanding relationships with the European market influencers – the electronics media.
Taking advantage of Banta’s high-profile in the tech sector (having been with three start-ups prior to Stretch) to build the reputation of Stretch executives, Hotwire developed an executive visibility campaign. Banta met with the electronics and business media to update them on corporate developments and the state of the marketplace. The opportunity to reach new audiences was also created by discussing industry issues, such as the state of the electronics market (several major semiconductor players had reported varying predictions) and the applications that were driving demand for chip technology. This pan-European tour incorporated 16 meetings with business and trade media in the UK and Germany.
Since embarking on the campaign, Stretch’s recognition in Europe has gone from strength to strength. Stretch won the Electron d’Or for microprocessor product of the year from leading French IT publication, Electronique. In Germany, Elektronik Journal Editor-in-Chief Ruediger Hahn named Stretch’s S5000 as one of his favourite products of the year in the Electronica issue of the Journal. In the UK, Stretch’s S5620 has been shortlisted for semiconductor of the year at the Elektra 05 awards (European Electronics Industry Awards) organised by Electronics Weekly.
Banta said of the campaign: “Hotwire’s knowledge of highly specialised sectors such as the electronics market is second to none. Not only have they done an outstanding job generating awareness among our core audience, the electronics media, they have now positioned Stretch as an industry thought leader by getting us on CNBC Europe.”
