Dr Stacey Brennan, lead researcher and Associate Professor of Marketing at the University of Sydney Business School, said: “The research provided strong evidence that there are key learnings for tech companies at all levels to better utilize and build their brands.
“There is real value in forming partnerships that invest in discovering how the tech sector can better intersect with marketing practices, and ultimately, enable stronger business decisions for one of the key growth engines of our economy,” added Brennan.
Drew Usher, lead researcher and Brand Strategy Director at Hotwire Australia, said: “Our study found that tech scaleups focus on traditional and rational ways to communicate their brand. The risk is that it is holding them back from reaching their full potential.
“Branding is a powerful yet undervalued tool by most tech scaleups, which prioritize product over brand. Striking a balance between function and emotion in brand communications is a huge opportunity.
“For example, if a scaleup were to change certain levers within its brand toolkit, it could see a 20 percent increase in interest from people.”