August 25

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What Are The Best Market Research Tools?

By Hanson Cheng

August 25, 2022


Several different market research tools are available to businesses, each with its own advantages and disadvantages. Some popular market research tools include surveys, focus groups, interviews, and observation.

However, before a business can fully take advantage of any market research tool, it is essential to first understand the needs and objectives of the company. This will help ensure that the chosen market research tool(s) are well-suited to providing the information needed.

In this article, I will take a closer look at some of the most popular market research tools and how they can be used to benefit businesses, so that you can make an informed decision about which tool(s) would be best for your needs.

What Is The Best Tool For Market Research?

This depends as much on the specific needs of your business as anything else. Surveys may be the best option if you need to gather detailed information about a large number of people. Focus groups or interviews may be more appropriate if you need to get in-depth feedback from a smaller group. And if you need to gather data about consumer behavior in a natural setting, observation may be the best method.

The most important thing is to choose the market research tool that will give you the information you need to make informed decisions about your business.

Can I Use Free Market Research Tools In Business?

Yes, there are several free market research tools available. However, it is essential to keep in mind that the quality of these tools may vary. Additionally, free market research tools may not be able to provide the same level of detail and insight as paid market research tools.

Paid market research tools are often more reliable and offer more features and benefits than free ones. However, free market research tools may be an excellent option if you are on a tight budget.

The same applies to market analysis tools. Free market analysis tools are available but may not be as comprehensive or reliable as paid options.

What Are The Best Market Research Tools?

Here are the best software for market research to consider.

1. Typeform

Top Software For Market Research.

Typeform

If you're done with tedious forms when collecting market research data, then you'll want to use Typeform. With this best tool for market research, you can create beautiful, engaging, and easy-to-use forms that will make your respondents enjoy giving you their feedback.

From surveys, quizzes, and polls to customer satisfaction and employee engagement surveys, Typeform can help you get the insights you need to improve your business.

You can also use videos and photos from the content library to add life to your forms and make them more engaging. Plus, the tool offers handy features like skip logic and piping so you can tailor your forms to each respondent.

Key Features:

  • Pick a template or start fresh, depending on your needs.
  • Typeform is easy to use, and you don't need coding skills to create beautiful forms.
  • Plus, the forms are optimized for mobile devices, so your respondents can easily take your surveys on the go.

Pricing:

Typeform Pricing

Typeform comes in at these pricing points:

2. Attest

Best For Business Growth Without Guesswork.

Attest

Attest allows you to get insights into your target market quickly and easily. With this tool, you can create surveys in minutes and get real-time results that you can trust.

Plus, with cutting-edge combined human expertise, you can get actionable insights to help you grow your business.

With multiple levels of filters that check for accuracy, you can be sure that the data you're getting is reliable.

Moreover, dedicated research professionals help at every step to ensure you're making the most of your market research.

Use Attest to confirm every intuition and hypothesis so you can confidently make decisions.

Key Features:

  • Brand tracking helps you know what people think and feel about your brand so you can confidently make decisions.
  • Consumer profiling allows you to segment and understand your target market to create more targeted marketing campaigns.
  • Market analysis provides insights into how a market evolves so you can adapt your business strategy accordingly.
  • New product development helps you validate new product ideas before launching them to ensure they have a higher chance of success.
  • Creative testing allows you to test how effective your marketing campaigns are so you can make improvements for better results.

Pricing:

Attest Pricing

Attest offers these packages:

Contact their team for specific prices.

3. Answer The Public

Best For Raw Search Insights.

Answer The Public

Answer the Public is one of the top market research apps for getting direct data and insights from the minds of your customers.

With a fifth of Google searches having never been seen before, staying on top of customer needs and wants can be challenging. Answer the Public fills this gap by taking autocomplete data from Google, then organizing it into an actionable format.

This tool will give you the insights you need when you're trying to discover ways your target market is searching for your brand, product, or service.

Answer the Public is free to use, and you can get results in seconds. Plus, you can export your findings into an easy-to-read format to share them with your team or clients.

Key Features:

  • Meet your customers where they're at with content that answers their questions.
  • Keep your finger on the pulse of what's being said about your brand, product, or service with real-time alerts.
  • Uncover hidden treasures in the search data with advanced filters and sorting options.
  • Streamline your content production by knowing exactly what topics to write about that your audience is searching for.
  • Make solid business decisions with data-driven insights that reduce the risks associated with making assumptions.

Pricing:

Answer The Public Pricing

Answer The Public has a free version limited to a few daily searches.

Then, there are the paid plans:

4. BuzzSumo

Best For Finding Niche-Specific Popular Content.

BuzzSumo

BuzzSumo is one of the best tools for market research when it comes to a variety of popular content in multiple topics or niches. This helps you understand what's already out there and how to make your content stand out.

You can also find who the real influencers in a market are so that you can target them with your content.

BuzzSumo also helps you find the right content to share and improve your content strategy to get better results.

Finally, BuzzSumo also offers some great features for content analysis, so you can improve your content strategy and get better results.

With hundreds of teams already using BuzzSumo, it's a tool worth considering for your market research needs.

Key Features:

  • Infinite ideas at your fingertips allow you to mix and match different topics and niches to come up with new content ideas that you can use for your business.
  • The content ideas generator gives you thousands of content ideas all in one place, so you can quickly and easily find the right idea for your business.
  • Generate thousands of relevant keywords with total monthly search volume and trends to easily target the right audience.
  • Get complete insights into your content to improve your strategy and get better results.

Pricing:

BuzzSumo Pricing

BuzzSumo offers ten free searches a month.

Then, the plans are as follows:

5. Social Mention

Best For Social Listening.

Social Mention

As a software for marketing research, Social Mention listens to what's being said online, so you don't have to.

This platform is a great way to get a quick overview of how people are talking about you online with various tools that aggregate content.

You can also use Social Mention to track competitor mentions, so you can quickly see what they're doing well and where there's room for improvement on your part.

Part of an in-depth tool that's created to help you engage with your audience, Social Mention is a tool worth considering for your market research needs.

Key Features:

  • Find who is talking about your brand and stay on top of any conversation.
  • Gain customer insights to understand what your customers want and need.
  • Manage online reputation by monitoring what's being said about you online and addressing any negative sentiment.
  • Perform sentiment analysis to understand how people feel about your brand, product, or service.
  • Create influencer marketing strategies to identify key influencers in your industry.
  • Monitor all social media platforms for any mention of your brand, product, or service.

Pricing:

6. Qualtrics Brand Experience

Best For Getting Actionable Insights.

Qualtrics Brand Experience

Qualtrics is made for those wanting actionable and predictive insights from their customers.

If you're looking for a market research app to help you understand your customer's brand experience, Qualtrics is worth considering.

You can improve the customer experience and increase brand loyalty with smarter and faster decisions.

Qualtrics also offers many features, including surveys, customer insights, NPS scorecards, etc.

Acting on feedback as it comes in is essential in any business, and with Qualtrics, you can do just that.

You can also show your customers you understand and appreciate their feedback with trigger-based actions that follow specific logic when creating workflows.

Key Features:

  • Act for maximum business impact by responding quickly to customer feedback.
  • Capitalize on fast-emerging trends by keeping your finger on the pulse of what's happening in your industry.
  • Get a holistic picture of your brand on various platforms to see where you need to improve.

Pricing:

Request a demo to get pricing information.

7. Spyfu

Best For Complete Market Research Suite.

Spyfu

Spyfu is a complete suite of tools that help you with your SEO and PPC efforts.

With Spyfu, you can track your competitor's rankings, spy on their paid ads, find out how much they spend on their PPC campaigns, and more.

You can also use Spyfu to find the right keywords for your SEO and PPC campaigns to get the most out of your marketing budget.

With access to backlink strategies, detailed keyword research, and SEO reports, Spyfu is an excellent tool for those wanting to get an edge on their competition.

With data across 109 million domains and 7 billion keywords, you will find the insights you need with Spyfu.

Key Features:

  • Google Ads competitor keyword spy tool helps you spy on your competitor's Google Ads campaigns.
  • Monitor PPC competitors to see how much they're spending on their PPC campaigns and what keywords they're targeting.
  • Google Ads advisor gives you tailored recommendations on improving your Google Ads campaigns.
  • Competitor Google Ads Campaign lets you see what your competitors are doing with their Google Ads campaigns.
  • Ad Test History allows you to track the performance of your ad tests.

Pricing:

8. Statista

Best For Empowering People With Data.

Statista

Statista gives stats and data from over 150 countries and more than 170 industries across the globe.

You can use Statista to find data on everything from the latest trends to consumer behavior.

Statista is excellent for those who want a deep understanding of their target market and to make data-driven decisions.

If you want to discover what the world is searching for, Statista is the market research tool for you.

With valuable and comparable market data, you can quickly and easily find the information you need to make informed decisions.

Key Features:

  • Save time & money with Statista by having all the data you need in one place.
  • Trusted content from over 1,000 different sources.
  • Industry expertise with over 15 years of experience.
  • Flatrate access to all the data you need.

Pricing:

9. Remesh

Best For Quantitative Business Research.

Remesh

Remesh offers quantity in scale for companies that need to make data-driven decisions.

If you're looking to engage in a conversation with your target market, Remesh is the tool for you.

Using AI to organize and analyze data from real-time conversations, you can then use this data to make better decisions for your business.

Whether you want to target one affinity group or multiple, Remesh can help you get the insights you need.

Key Features:

  • Create products and services your customers will love with the help of Remesh.
  • Engage with and understand your target market with real-time conversation data.
  • Understand the needs and wants of your target market with the help of Remesh.

Pricing:

Ramesh Pricing

To get started, sign up for a free demo.

10. Google Trends

Best For Seeing What's Happening Worldwide.

Google Trends

Google Trends is a great way to see what the world is searching for.

You can use Google Trends to find out the latest trends, insights, and data on anything you're interested in.

Whether you want to find out what people are searching for in your industry or are just curious about the latest trends, Google Trends is a valuable resource.

Google Trends is free to use and easy to access. All you need is a Google account.

Key Features:

  • See the latest trends in your industry with Google Trends.
  • Get insights and data on anything you're interested in with Google Trends.
  • Compare search terms to see what's most popular and make informed decisions.

Pricing:

Google Trends is a free product.

11. Latana

Best Suite Of AI-Powered Market Research Analysis tools.

Latana

Latana delivers world-class, scalable insights for brands that want to understand how they're perceived in the market.

Using AI, Latana can track and analyze any brand in any market.

Whether it's understanding effectiveness, reputation, or competition, Latana gives you the insights you need to take the right action step.

With hundreds of standardized association metrics that are always up-to-date, you can make data-driven decisions with confidence.

You can even create custom metrics to track whatever you want.

With end-to-end support, when it comes to any questions that range from data collection to analysis reports as part of a suite of market research software tools, their team is always there to help.

Key Features:

  • Audience segmentation helps you understand your target market.
  • Research expertise gives you the insights you need to take action.
  • Global tracking enables you to track your brand in any market.
  • Advanced technology ensures you get the most accurate data.
  • Easy access to data means you can get the information you need when you need it.
  • Flexible segmentation lets you segment your data however you want.

Pricing:

Latana Pricing

Fill in the form on their sites to receive a quote for your custom brand tracking price.

What Are The Advantages And Disadvantages Of Market Research Software?

Market research platforms allow you to collect and analyze data from various sources, including surveys, focus groups, customer interviews, and more.

These are some of the advantages of various tools for market analysis and research:

  • All-in-one tools for market research offer a comprehensive suite of features for data collection and analysis, making them ideal for large-scale market research projects: The proper market research platform will offer a suite of features that streamline the data collection process, including online surveys, focus groups, customer interviews, and more.
  • Customizable platforms allow you to tailor your research to your specific needs: Not all market research platforms are created equal. Some offer more customization options than others, allowing you to tailor your research. With various market research tools and techniques at your disposal, you can design a perfectly tailored study to your needs.
  • User-friendly platforms make it easy to get started: The best market research platforms are designed with the user in mind, offering an intuitive interface that makes the tool easy to use. Whether it's market research tools for startups or more established businesses, the best platforms are designed to run market research efficiently.

There are also a few disadvantages of using market research software to consider:

  • Some platforms can be expensive: While there are cheap options on the market, some market research platforms can be pretty pricey. The best market research tool for your needs might be the one with the most features, in which case, it might be the most expensive.
  • You might not need all the features: On the flip side, while some market research platforms come loaded with features, you might not need them. For example, an industry research tool that's too comprehensive might be overkill for your needs. If you're only looking for basic survey functionality, there's no need to pay for a platform with bells and whistles.
  • You need to have market research experience: To get the most out of a market research platform, you need to have some experience with market research. If you're unfamiliar with various market research tools and techniques, you might not be able to take full advantage of all the features on offer. While market research resources and tutorials are readily available online, you need prior knowledge to get the most out of a market research platform.

Market research software platforms offer several advantages and disadvantages that should be considered before making a purchase. The best market research tool for your needs will depend on your specific goals and objectives

Does Market Research Help With Business Management?

Market research can help you understand your customers' needs and how they think about your products or services. It can also give you ideas for new products or services or help you enter new markets. Many business management tools integrate with market research software, making getting the insights you need to make decisions easier.

The sample applies to marketing tools for small businesses, allowing them to focus on the target audience and understand their requirements.

Specifically, when it comes to small businesses, market research can help you:

  • Evaluate your current products or services
  • Understand your target market
  • Develop new products or services
  • Enter new markets
  • Plan marketing campaigns
  • Track customer satisfaction levels.

Consequently, market research is an essential tool for business management, as it provides the insights needed to make informed decisions.

What's The Best Way To Learn How To Use Software For Market Research?

Knowing how to do market research is a valuable skill for any small business owner. If you have the time and resources, taking a course or attending a workshop can be a great way to learn. The best way to learn how to do market research is to find a method that works for you and your business.

Depending on the online business you run, there are different ways you can go about conducting market research. You can use online tools like surveys, polls, and social media to gather data about your customers. You can also attend trade shows and events related to your industry to network and get insights from other business owners.

How Important Is Knowing Who Your Competitors Are In Business?

Businesses of all sizes need to understand their competition. By understanding who your competitors are, what they offer, and how they operate, you can develop strategies to stay ahead of the curve. Additionally, being aware of your competition can help you identify opportunities in the market that you can capitalize on.

Doing the proper competitor analysis is critical for any business. It doesn't matter if you are a small business or a large enterprise. You need to know your competitors to be successful.

What Is Market Research's Impact On Other Business Areas?

From the CRM tools you use to establish better customer relationships, to the business intelligence software you employ to make better decisions, along with the social media tools used to connect with customers and market to them, market research impacts just about every area of business.

Market research is essential to any business, regardless of size or industry. You can create products and services that meet their needs by understanding your customers and what they want.

How Does Market Research Increase Your Bottom Line?

When it comes to learning how to make money online, market research is the first step. You need to understand your target market and what they are looking for before you can start selling to them.

Market research can help you determine what products or services to offer, how to price them, and where to sell them. Additionally, market research can give insights into your customers' behavior, allowing you to adjust your marketing and sales strategies.

 What's a market research analytics tool, and how is it different from other online market research tools?

Market research analytics tools help you collect, organize, and analyze data so you can make better decisions about your business. These tools can track customer behavior, understand market trends, and more.

Most market research analytics tools offer features similar to other marketing research tools, such as surveys and polls. However, market research analytics tools also offer advanced features that help you make sense of large data sets. These tools can segment customers, track conversions, and more.

Conclusion

Whether you're just starting or you've been in business for years, market research is essential to ensuring your success. Understanding your customers, competitors, and the market can make better decisions to help your business grow.

Being able to use the best tools for your business is also essential. Whether you use market research tools for small businesses or large enterprises, the right software tools can make it easier to get the insights you need to make decisions. 

With the right tools in place, you'll be able to get the insights you need to make your business thrive.

Last Updated on August 25, 2022 by Hanson Cheng

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Hanson Cheng

About the author

Living in Bali with my Fiancee and puppy, (Alina and Pickles).
Scaling online businesses and sharing lessons learned on this website and in our email newsletter.

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