Top 10 Market Research Tools

Market research tools are essential to every company’s success. Knowing the inside scoop on your target market is crucial in a world that seems like there is no end to the competition.

Organizations can use market research to discover not only the most important information about the market but also the smallest details that are often overlooked by the general public. Market research allows organizations to see the big picture and make informed decisions. This makes it even more important.

Fortunately, is now available in the 21st Century. We don’t need an insider to provide us with market data for research purposes. Some of the most advanced software tools are now at our disposal This would allow us to improve, evolve and empower our products and services for the people.

This blog contains a list of 10 top market research tools and software. We also include some key information that you need to know before you make a decision on which one you want.

20 Best Market Research Tools

1. Qualaroo

Qualaroo is the best market research tool. It’s also one of the most effective online survey tools for market research. It offers users a simple market research platform that is easy to use and also offers actionable insights.

Qualaroo helps you create user personas by advanced targeting. This helps you better understand your users to easily track their goals and behavior patterns.

Features:

• It is easy to set up, and you can immediately start receiving feedback.
• Professionally designed survey templates that ask the right questions.
• Real-time interaction with your visitors. Contextual responses are valuable.
• It is easy for users to determine the location and who are the survey targets
• Can assist in creating detailed customer journey maps.
• Based on engagement, ask for feedback about the app/website/product from the audience.
• Supports branching logic for easy access to redundant users
• Integration with popular tools such as Zapier, Hubspot, and Slack.

Pros

• It is ideal for measuring customer loyalty and satisfaction using Net Promor Score (NPS), surveys.
• This tool helps to collect user experience feedback (UX) at all stages of any product’s design.
• Test prototype templates using non-obtrusive pop-up surveys called Nudges (TM).
• The sentiment analysis engine makes it easier to analyze customer sentiments.

Cons

• Reports require more filters and export options.
• The survey dashboard does not have a bulk button.

Pricing: Starting at $ 0.0008 per Tracked Pageview/mo with a 15-day free trial.

Also read: Top 10 Product Marketing Tools

2. Google Trends

Google Trends is an online market research tool that provides data in the form of trend lines. It’s free and available to all. When you enter a specific term into Google Trends, it will give you an accurate representation of how trendy that term has been over the course of time and also gives it a score out of 100.

Features:

• This shows the frequency of your search term in Google in relation to the website’s total search volume over a period of time.
• Add location filters to refine your search.
• The trend is presented graphically to allow for better visualization.
• It is easy to answer surveys from any device, mobile or tablet, as well as computer.
• Integrates with popular tools like Zapier and Automate.io.
• The data is organized into Google Sheets and can be presented instantly without any modifications.

Pros

• This tool is useful for obtaining keyword-related and geographical data about users.
• Instantly discover any spikes in search results due to special events

Cons

• Sometimes, the search term is not relevant.
• It only shows relative numbers. A comparison analysis is therefore necessary.

Pricing: Free to Use

3. SurveyMonkey

SurveyMonkey is another market research software that offers customers new market research methods and different ways for them to voice their opinions. The platform is enterprise-grade and offers a range of customer experience solutions as well as market research. This allows organizations of any size to harness the power of feedback.

Features:

• A professionally designed question bank that allows you to ask precise questions.
• Personalized survey techniques like skip logic, branching logic, etc.
• AI-powered analysis tool that provides expert feedback on the draft survey.
• Ask the right questions to the right audience and test your creative ideas.
• Data quality is guaranteed by more than 144 million users around the world.
• A flexible engagement model allows you to access market research experts and dedicated account managers for help.
• Potential to monitor the market dynamics for a product category over time.

Pros

• You can easily create recurring surveys that track sentiments over time.
• To increase response rates, embed survey questions in emails.
• This provides context from the most recent benchmark data.

Cons

• To make data presentation more effective, the analytical dashboard must be improved.
• Sometimes there are a few hiccups while creating surveys.

Pricing: Starts at $25/user/month

4. Statista

Statista is a market research tool that specializes in data visualization and market research and is a top choice. It retrieves data from reliable reports that are easily understood and absorbed for research and are available all over the internet. It can search for specific industry data and generate a statistical report. This would make it much more understandable.

Features:

• Ability to filter content by a particular type.
• There are hundreds of metrics available and you can customize visualizations.
• Features forecasts and survey reports are also available.
• Flexibility to analyze markets in 150+ countries.
• Global stories and statistics are presented in a visually appealing way.
• Global Consumer Surveys can be conducted to learn what drives consumers.
• You can integrate with other marketing tools simply by copying the HTML code.

Pros

• This tool is great for displaying Key Performance Indicators (KPIs), to help understand the consumer market outlook.
• This tool allows you to research and gather information about companies, such as their headquarters, employees, and revenue performance.

Cons

• It can be difficult to find the right data for long-tail searches.

Pricing: Starts from $39/month

5. Google Keyword Tool

Google Keyword Tool is a market research software that’s highly advanced and an analysis tool. This gives you an insight into customers’ online behavior. Google Keyword Tool provides valuable insight into the queries your target audience searches on Google.

It’s a product research tool that provides accurate information about customers’ needs. You will need to create a Google Adword account in order to use it.

Features:

• This tool will show you how many keywords have been searched.
• Let’s filter keyword searches by location and language.
• Filter searches are based upon the device people use to search.
• Marketers can also use this tool to create a content strategy.
• Provides insight into current marketing trends.
• You can expand your long-tail search by finding other keywords that are relevant to the same domain.
• Integrates with other tools via Google API

Pros

• This graph shows the relationship between keywords. It can be used to help you locate keywords that are related.
• It is a great tool to determine the competition of keywords.

Cons

• Displays fewer keyword suggestions than similar tools.
• More keyword filters are needed in the dashboard

Pricing: Free of Charge

Also read: 7 Ways to Conduct a Market Analysis for Your Business

6. Tableau Software

Tableau is a business intelligence tool for data visualization. It does not require programming knowledge. Tableau combines analytics, visualization, and business intelligence to present the data in a visually appealing fashion for a better understanding.

Its goal is to change the way we view and use data to make informed decisions. Tableau empowers users to get the most out of their data with its market research tools.

Features:

• You can visualize data for any topic.
• You can easily extract data from Excel, PDFs, text, SAS, and other formats.
• The Tableau dashboard gives you a complete and holistic view of your data.
• Allows marketing teams to access data in different formats.
• Visualize market research data in order to take quick actions and make decisions.
• Natively integrates seamlessly with other market research tools, such as Qualtrics or Salesforce.

Pros

• Flexible options for data sharing and team collaboration.
• It makes it simple to connect to live data sources in order to keep up-to-date.
• Data heat maps provide a broad overview of emerging market patterns.

Cons

• Some businesses may find this a costly tool.
• To set up the tool, you may need assistance from the IT department.

Pricing: Starts at $70/user/month

7. Typeform

Typeform, another online market research tool, and software allow you to run market research surveys in order to get direct responses from your target audience. You can choose from a variety of design themes and has built-in video and photo libraries. Typeform’s primary goal is to make forms that are easy to use and more people respond, which will lead to better insights and greater engagement.

Features:

• Displays one form field at a time to the viewers.
• Mobile devices are easy to use and optimized for.
• Let’s create many different types of questions.
• You can make the form unique with a variety of customization options.
• Integrates with other tools such as Google Sheets and Salesforce.
• Drag and drop allows users to quickly create forms.
• There are many question types, including rating, opinion scale, and multiple-choice.

Pros

• Create conversational and casually oriented surveys
• To understand the behavior patterns of customers, gather demographic information.
• Survey results can be used to create a positioning strategy.

Cons

• Survey design options require more flexibility and customization.
• It would be great if the dashboard had more filters.

Pricing: Starts at $25/month

8. SEMrush

SEMrush, a market research tool that is highly effective for marketers to increase their conversion rates, can also be used. There are over 40 tools in its toolbox that can be used by marketers to increase traffic and convert more customers.

This tool is primarily designed to improve online visibility and uncover marketing insights. It offers services such as SEO, and PPC. SMM, Keyword Research. Competitive Research. PR. Content Marketing. Marketing Insights. Analytic tools for market research. Campaign Management.

Features:

• This tool provides tools such as keyword research, local SEO, and on-page SEO.
• You can easily monitor and manage your organic rankings.
• This site provides tools for content marketing, creation, and distribution, optimization.
• It is the best tool to analyze the market.
• Let’s examine and analyze the demographics of the market competitors.
• Find out how your competitors market and estimate your market share.
• Integrates with social networking and Google applications.

Pros

• The technical audit report provides detailed suggestions for optimizing the site.
• This is one of the most powerful enterprise-level tools.
• It offers a variety of segmentation options to help you find the best keywords.

Cons

It can be difficult to navigate training docs. It can be difficult to find the information you need.
The dashboard for backlink suggestions can be improved. It can sometimes miss a lot of backlinks.

Pricing: Starts at $119.95/month

9. Ahrefs

Ahref is the best tool to do market research and business research. Ahrefs offers a complete package of conversion-rate optimization tools. This software is extremely versatile and has tons of functions that can make anyone an SEO expert. It’s a powerful tool that can be used to analyze SEO backlinks and manage your SEO health over time.

Features:

• Ranking keywords according to their difficulty level and potential traffic.
• Site audits can be used to identify weak links and increase conversion rates.
• Performs keyword research for Google and YouTube.
• Find content that is well-researched on a particular topic.
• There are many metrics that can be used to measure data.
• Integrates with Tray.io tools and Rank Ranger API

Pros

• This tool provides insight into the organic search patterns of competitors and their backlinking profiles to other websites.
• This tool helps to identify the best-performing content and generate new ideas.

Cons

• Coes requires a little learning curve. For quick access, inline tooltips are required in product menus.
• Some optimization is needed for PPC features.

Pricing: Monthly starting at $83/month and billed annually

Also read: Top 10 Online Reputation Management Tools in 2022

10. BuzzSumo

BuzzSumo is a great content marketing and research platform that produces high-performing content. To grow your business, you can perform keyword research, competitor analysis, brand monitoring, as well as other tasks. To make your job easier, the platform offers a Chrome extension.

Features

• Based on search volume and cost per click, find the keywords you want to target when designing your content.
• You can track viral trends in real-time for any topic, domain, or location.
• To design your SEO strategies, track new content that is related to your targeted keywords.
• To sponsor the top influencers in any field, find them.
• You can set up alerts to receive information about keywords, blogs, brand mentions and other influencers.
• You can track backlinks from any website to your domain.

Pros

• This is one of the most powerful tools for keyword research and social listening.
• Chrome Extension is a great addition to your campaign’s performance monitoring.

Cons

• Instagram doesn’t monitor engagement data or content.
• More filters are needed to distinguish news from general topics.

Price: Starting at $79 per month, payable annually

These are the must-have features in market research tools

You’ve already seen what market research software tools are capable of and how they can be useful for marketers. What makes a market research tool so great? Let’s look at the essential features every market research tool online should possess.

1. Identifying the Target Audience

Every step of market research is important, but the key to success lies in identifying your target audience early on. Inability to identify the right audience will result in market research being null and the entire process is stopped.
market research tool must first be able to find the right audience to ask your questions.

2. Creating a Research Questionnaire

Following the identification of your target audience, you will need to create a questionnaire to gather the information you require.

Good market research tools should allow users to create questions.

• Engage in surveys
• Keep surveys brief
• Always ask the right questions

3. Sharing Your Research Questionnaire

A market research tool must have the ability to share your research questionnaire across multiple platforms via different channels. It is crucial to gather accurate and meaningful data by sharing your questionnaire on multiple platforms.

Respondents should have the option to choose platforms that suit them best, such as email, social media links, SMS shares, and many others.

Also read: Best 10 Content Research Tools and Alternative Tools Like BuzzSumo

4. Collecting data and creating information

Market research tools should be able to gather raw data and then process it in a way that provides valuable information for the researcher. An analysis tool is a great option.

The research tool will provide actionable market insight through the analysis of the data at a fine level and presentation using a robust reporting system.

Conclusion — Top Market Research Tools

Market research will continue to be viewed as a sophisticated method of gathering insights and finding answers. This will ultimately reduce the risk for your business and increase your chances of success.

Comparing your findings with business goals can help you determine if your research is successful. This success is made possible by the proper deployment of market research tools.

Those are my thoughts. You have been informed about some of the most effective market research tools. Now all you have to do is assess your needs and map them using the tool. That can help you make it happen by helping to develop the products and services your customers require.