Market research is a key part of running a successful business. A report on market research shows that the global market research industry is expected to grow by about 5% each year until 2022. The best market research tools help businesses learn about their competitors, analyze consumer trends and preferences, and keep track of customer satisfaction and product quality.
As a business owner, your goal is to make decisions based on data that will increase revenue. You need access to accurate, up-to-date market research to do this. But where can you find reliable information about the people you want to reach? There are a lot of tools you can use to do market research, which is good news.
Choosing the right market research tool is very important for your business. From primary research to surveys and polls, the best market research tool can help you reach your goals. In this blog, we ranked and reviewed the 8 best market research tools so that you can choose the best one for you.
What are market research tools?
A market research tool is a piece of software or a website that helps you collect and analyze information from your customers.
Market research tools help you get information from your customers, but you also need to know how to make sense of the information and present it in a meaningful way to make good decisions.
There are many different market research tools, but they all have one thing in common: they help you learn about your target audience to improve your customer experience.
You can use a market research tool to look at any part of your business, from its products and services to its marketing strategies and customer service policies, and figure out what works best for your target audience.
Types of market research tools
There are different types of market research tools available, but it’s important to pick the ones that will really help you get the information you need to make the decisions that will make your projects successful.
So, today we’ll talk about some tools that can help you do market research quickly:
Online and offline surveys
Online surveys have become a popular market research tool because they enable businesses to collect data quickly, saving time and labor.
The correct online survey platform can help you conduct successful research and make smarter business decisions. QuestionPro market research tools can be ideal for your research process.
Some apps let you do surveys without an internet connection. So you can collect data from any mobile device in any situation.
In-depth interviews are an excellent way to get detailed information from survey respondents. Because of how it works, it is possible to do them over the phone, in person, or through a video call. Businesses can obtain qualitative data on important topics using in-depth interviews.
Online communities are a powerful tool for marketing research. The process is complete because people who are more familiar with the brand can take part and are willing to help improve what needs to be improved to ensure its success.
Researchers can conduct surveys and opinion polls or participate in an online discussion forum to gain brand insights. You can conduct QuestionPro survey software for this. To do this, you can use QuestionPro survey software.
Field tests are another tool that is often used in market research. For these, scientists use methods that let them test specific variables and hypotheses. The researcher controls the independent variable and looks at how it affects the dependent variable to see if there is a link between them. This kind of research is usually done in a lab or the real world.
This is, without a doubt, one of the most important market research tools because it lets you know what the customer wants, how they buy things, and current market trends. Sales analysis lets companies see the whole marketing process and determine what they need to change.
8 Best Market Research Tools
There are many tools you can use to do market research. These help you collect and analyze the information you need to make smart business decisions. Here are the 8 best market research tools we chose:
Best for market research
If you’re worried about client satisfaction, QuestionPro can help. It’s a powerful software that lets you do quick surveys to determine how your target market responds. It is one of the best market research tools that solves your most challenging market research problems.
It is a great platform to start doing a survey that fits your brand. You can do simple and easy-to-understand surveys with different kinds of questions and branching.
You can also choose from up to 88 templates that you can change to do surveys that fit your needs. You will be able to get insights that you can use to help your business and your customers.
- Skip logic branching allows you to personalize survey responses. This feature is helpful for more complicated surveys.
- The integration of Google Sheets lets you quickly export your survey data into a Google Sheet for analysis.
- The customizable thank you page lets you end the survey experience with your logo and message.
- Multilingual surveys reach respondents in their native language. You may achieve a worldwide audience and obtain global insights with QuestionPro.
QuestionPro premium pricing plan begins at $99.00 per month.
Best for Doing In-Depth Online Surveys
SurveyMonkey is a market research tool that lets you do quick surveys to determine how your target market reacts.
Using this tool, you can easily do advanced surveys, run online opinion polls, and do in-depth marketing research. It even gives you a lot of pre-built survey templates and cool features that help speed up the whole process.
- Ability to do surveys quickly
- Easy to integrate with other software
- More than 200 customizable survey templates
- Helps with complex logic functions
Basic plan is free. A standard plan begins at $99.00 per month.
Best for researching real-time social media
Social Mention is a real-time, social media-focused search engine. You can use the tool to find out what your current and potential customers are talking about online.
Using Social Mention, you can learn a lot about what people are doing on different websites that involve social media. Just type in a search term, a hashtag, or a website URL, and you’ll see every mention of that brand or product on social media.
The unique benefit of this tool is that you can use it to get actionable insights for a brand from multiple social media sites.
- Brand monitoring in real time
- Online reputation management
- Covers all popular social media sites
- The sentiment, keyword, and hashtag analysis feature
Pricing plans start from $99 per month.
Best for Keyword Research
Google Trends is a tool for researching keywords that you can use to make your content more search engine-friendly. The tool gives SEOs and marketers a lot of information about what people worldwide are looking for.
Using Google Trends, you can get a lot of information about what people are searching for the most. You can divide the results by region, time, and even the type of search network. It is the best way to find out what keywords are popular during a certain season.
- Comparative keyword research
- Google Trends lets you explore search trends by category, region, time, period, and more.
- Allows you to see market trends and areas where customers are interested
Google Trends is free to use. Its full potential does not require a subscription. You don’t even need to log in to Google. You can start your research right away by going to the website.
Best for Experience Management based on AI
Qualtrics is an AI-based experience management platform that helps more than 11,000 brands around the world manage their customer experience. It is one of the best market research tools. Using the tool, you can do high-quality market research quickly.
With this platform, you can get detailed information on all aspects of market research. It uses advanced statistical methods to find out details about your target audience.
- Market trends analysis
- Online panel management
- A/B testing for change management
- All screen sizes are fully optimized
- Conjoint analysis to improve the customer experience
Qualtrics pricing plan is complex. But you can request a demo from the official website.
Best for Visual Data Analysis
Tableau is a business intelligence platform that helps small, medium, and large businesses visualize their data. It lets users look at data and make interactive charts, stories, dashboards, and other types of visualizations.
The tool lets you collect and organize data from multiple sources, like Google Analytics, Excel sheets, and relational databases. You can then combine all of these pieces of data to make datasets that give a complete picture of the market.
- Programming-free data collection
- Dashboards are easy to add to programs like SharePoint and Salesforce.
- An unlimited number of data connectors (both on-site and cloud)
- Multiple levels of analysis detail
Tableau premium plan starts at $42.00
Best for Statistical Data Analysis
The Statista Global Consumer Survey is a unique way to get consumer information. It gives you the latest information on retail sales, so you can figure out which industries are growing the most.
Here, you can find market research data that you can use to make buyer personas, build online questionnaires, and even use for content marketing. If you are a marketer seeking credible statistics supported by research, Statista is the platform for you.
- Global surveys
- Provides infographics
- Marketing outlook tools
- Digital trend reports for important brands and businesses
The basic account is free. A premium account charges $59.00 per month.
Best for Creating Feedback Forms
Typeform is a cloud-based tool for making feedback forms and surveys. With it, you can quickly and easily do surveys to collect customer information in a fun, engaging, and useful way.
The user interface of Typeform is simple and easy to use, and you can make custom surveys by dragging and dropping. It also has detailed analytics and reporting tools, letting you see survey responses in real time.
- Live online training
- Form creation without coding
- Data analysis tools
- Integration is simple with more than 500 business apps.
- Full documentation
There are limited free plans available. Premium plans start at $25 per month, billed annually.
Using a market research tool is an excellent way to determine exactly what your target audience is thinking. Whether you use free market research tools or paid ones, you can find a lot of information that can change your business.
Price and features are important things to consider when looking at the best tools for market research. Even though free market research tools are great, they may not be helpful when you are on a tight schedule or need key information about a competitor, market, or product. So it’s important to make a good choice.
If you are considering utilizing QuestionPro or just learning about their market research tool for the first time, then you are in the right place! QuestionPro makes it easier for businesses to win in the digital world. Their market research methods help companies to beat their competitors.
Ask for a demo right now and try it out for yourself today!