There are times when your business will launch new projects; sometimes, you will need to rebrand an existing product. How you present your product to the public matters; fortunately, market research is the secret tool that will increase the success of your project’s launch.
Market research methods involve gathering valuable data about your target audience activities and also narrowing down who your customers are. It is a series of little steps that provides you and your team clarity for making better decisions.
In this blog post, we provide you with the best market research tools that can assist you in gathering all that you need to introduce or sell your project to your target market.
These tools will serve you well with their unique researching, analyzing and storing features to help you turn series of market information into organized data and present easily understood results. Keep scrolling to have them at your fingertips.
What Are Market Research Tools?
A market research tool is a software that gives you quick access to market insights. It allows you to study the change in market trends, your competitor’s activities & lead generation and collect feedback about your product or projects.
Market research tools can help you see the public reaction to your product and decipher what your customers want and who your customers are.
It can help you formulate questionnaires and identify areas that need more improvement by using the responses from the public. Tools like market research software are a requirement for every business when strategizing product sales and promotion.
The main features of a proper and valuable market research tool should include one of the following:
- It should be able to display accurate search results.
- It should show you precise results.
- It should be able to analyze respondent’s answers.
- It should be credible.
- It should provide users with valuable information.
Review of the Best Market Research Tool
Overall best market research tools
Attest is the best market research tool for large businesses that need to do hefty market research on competitor activities. It is credible for offering users a lot of tutorials on how to use its unique features.
Attest is a trusted web-based platform for creating customizable surveys that contain qualifying questions tailored to your products. It possesses a built-in forum that breaks down the public buying habits.
- This tool can calculate the significance of your data statistics.
- Attest will show every trend of your data and will accurately track the results.
- It is a cloud-based tool that allows you to export your data analysis results.
- It provides users with dashboards that contain an in-depth analysis of responses.
- It authorizes users to share questionnaires as drafts before distribution.
- It is quick to collect and run accurate data.
- It supports several languages.
- Attest can also be used to translate the in-depth analyzed results.
- This tool has excellent user support.
- It displays simple broken-down data analysis results.
- It is more expensive than most market research tools.
Attest offers users 4 pricing tiers:
- Profesional – starts at $25,000
- Premium – starts at $44,000
- Enterprise – Attest offers a custom price
Best market research tools for small businesses
Gartner is the leading research and data tracking platform that offers and supports users with its in-depth analyzing and quantitative modeling features.
It is mainly sought by small businesses that need a market research tool capable of providing accurate and intelligent trending data. It is the best market research tool for businesses that require digital-optimized data.
- It provides users with survey formats that can analyze your competitor’s strategies.
- Gartner has a high standard for evaluating data insights by comparing your data with competitors.
- This platform makes long-term objectives achievable by mapping your decision-making process.
- It assists you in making well-informed decisions that will help your business grow.
- It provides visual insights via charts about your market’s audience.
- Gartner provides users with accurate research for business owners.
- Data on Gartner is easily exported, managed and organized.
- It breaks down data into understandable information.
- It is very fast in updating users about improvements and technical know-how of its functions.
- It has a solid social media presence and vast tutorials on how to use its functions.
- Slow user support response time.
- Integrations of large data may be challenging to establish.
Best market research tools for competitor analysis
Spyfu is a market research tool for SEO &PPC data-optimized insights. It is best for search engine optimization businesses that want to research customer interaction with the mass of data on the internet.
It also possesses tracking and history analyzes results that aid users in understanding the past incentives for consumer behaviors.
Spyfu is the best market research tool because it frequently updates you on your competitor analyzes after comparing your imputed data with possible competitors.
- It is an SEO tool that analysis your competitor’s ranking and customers.
- It provides users with accurate and valuable results in-depth data comparison.
- This tool can uncover top SEO and PPC strategies for your projects.
- Spyfu identifies new profitable market projects.
- Users are authorized to run customizable trackings.
- Data insights on Spyfu are exportable.
- This tool is affordable for the features it offers
- This platform doesn’t offer free trials.
- It is not easily navigable and understandable to operate.
Spyfu offers users an amazing deal of unlimited access to data. It has three pricing tiers:
- Basic – $16 to $39/month
- Professional – $36 to $39
- Team – $49 to $299
Best market research tool for surveys
Survey Monkey is an online survey market research tool that works effectively for individuals, SMPs, business owners and others. They offer users an extensive gallery of questionnaire examples that they can use to interact with respondents.
This online market research tool is an effective way for businesses to gather insights on how the public views their product. It is an inexpensive and quick method to finalize the elements the product will process.
- It is rich with several expert-written templates that you can use for your product testing surveys.
- It can be used as a website widget to get feedback on the functionality of your website.
- Survey Monkey is a conversational tool that encourages accurate responses.
- It allows users to create anonymous surveys that do not require the respondents to include personal information.
- It has a slight learning curve for its features and navigation.
- Survey Monkey provides users with several survey templates to create vast facts for accurate results.
- It helps businesses to make better decisions by using its conversational questionnaire feature.
- It limits the number of users that can access an account.
- Survey Monkey doesn’t offer a free trial.
Survey Monkey offers 4 pricing tires
- Team Advantage – $25
- Team Premier – $75
- Premier annual – $99
- Advantage annual – $34
Best market research tools for scientific facts
Dimensions.ai is popular for its scholarly formats. It provides market researchers with an accurate source for chemistry, scientific, real-life research, journals, grant, etc.
It is used because its search results display page is very easy to understand and is actually valuable.
It has an influential authority for providing accurate facts and provides users with several pieces of information on how to navigate and customize search results on Dimensions.ai.
- It provides researchers with clinically proven and globally accepted datasets.
- This market research is easy to access and use.
- Recognized and professional professionals fill Dimension.ai space.
- It allows users to publish their researched write-ups.
- It updates users via emails and social media.
- It authorizes users to integrate third-party data tools.
- Dimensions.ai permits users to access and discover several citations.
- It allows users to use filters to break down searches.
- Its knowledge base is not broad.
- Customer support is relatively poor.
- It is forever free.
Best market research tools for customer needs and wants
Answer The Public aids market research via its search engine result page in-depth analyzing feature. Ubersuggest created this exceptional market research tool and was generous enough to add other region’s languages.
This tool is known for gathering data onto a simplistic map-like diagram that can be downloadable for more in-depth professional analysis.
- Social media monitoring
- Keyword Suggestions
- User-friendly interface
- It breaks down imputed searches into bit size comprehensible and usable pieces.
- It offers users search result that ranks on the search engine result page.
- It analysis imputed data very quickly.
- Users can use this SEO tool to generate content ideas and suggestions.
- It is very simple to navigate.
- It offers users extensive search results.
- It doesn’t require in-depth tutorials.
- It is the best tool for content idea generation.
- It helps marketers to gather worthwhile keywords.
- It authorizes users to compare results, organize them and download them as CSV files.
- It has a robust email presence that is useful to subscribers.
- It assists users in creating vital buyer persona examples
- It doesn’t provide users with enough tutorials for its several features.
- Weak user support system.
Answer The Public offers users 4 pricing versions
- Free with limited daily searches
- Monthly – $99/ month
- Annual – $79/ month
- Expert – $199/ month
Best market research tool for interviews
Otter.ai is a market research tool with a unique transcribing feature that is very smart. It can make market research easy by dictating the mass of valuable researched information for you.
Reading is an important activity in market research. The information may begin to take a toll on your eyes and a transcribing market research tool can do the job for you.
Aside from transcribing, Otter.ai can help you text record audio during interviews with volunteering target customers. It enables you to store the audio for accessibility in the future.
- It possesses a smart real-time transcription ai that helps users turn audio into texts.
- Authorizes users to edit, highlight and share its transcriptions.
- It has a voice recognition feature that allows it to turn voice into texts
- Otter.ai can be installed as an application and actively used.
- It is an accurate dictation and recording market research tool.
- It is a valuable tool for note-taking during transcription.
- It does more than transcription; it can snap photos and insert them where required for reference.
- It is compatible with any device and third-party tools.
- Transcriptions done by Otter.ai is exportable as any file.
- It is faster and easier than reading and typing broken-down data.
- It requires a mic to transcribe voice in a busy area.
Otter.ai charges users using four pricing plans:
- Basic – Free
- Pro – $12.99
- Business – $30
- Enterprise – Contact sales
A Buyer’s Guide to the Best Market Research Tools
When looking for a market research tool to purchase, there are a few factors you need to take into consideration. These things are critical to ensure that you are not harming the success rate and the survival rate of your new products.
Below are the factors you need to consider:
Market research tools are rich in knowledge. If you don’t pick the right one, you can get lost in the several insights it provides. Before using a market research tool, make sure the tool is capable of quickly and accurately answering your questions and searches.
There are several market research tools on the internet. Market research tools for audio, such as otter.ai and others, have specifications and usefulness. So when you want to purchase a market research tool, ensure that you need it.
The amount you can afford should be the factor that determines the market research tool and technique that you incorporate. For example, due to its affordability, you can use survey market research tools such as Survey Monkey.
Frequently Asked Questions for the Best Market Research Tools
There are different types of market research, but the main types are surveys, real-time analytics, customer activities analytics and interviews.
Market research tools work based on the feature the tool possess. Otter.ai, for example, works by providing you with real-time interviews and allowing you to record conversions that you can analyze in the future.
The most effective market research method is survey. Surveys are a quick and direct tool for effective market research.
To gather market research data, you need a market research method. It is best to write your goals down for a clearer head, choose a market research method and use the amazing features of a market research tool to collect and analyze relevant data.
Data collection tools are software that assists users in acquiring helpful feedback and pieces of information.
There is a difference between marketing research and market research. Marketing research is a broader analyzing process. It involves the study of selected information that could lead the target audience to a marketed product.
Market research differs because of its target customer behavior analysis. It gathers information on consumer’s needs and wants and implements the collected data into the project production.
The 4 basic steps below will help you to identify your target market accurately:
1. Analyze your product to find out what problems it could possibly solve.
2. Analyze the customers of your product competitors.
3. Segment your customers based on their demographics.
4. Re-create your target customer personal.
As a large business, you need the best market research tools to make well-informed decisions about your products and services.
Attest is our favorite market research tool because it provides your large business with accurate & easy-to-use surveys and in-depth interactive dashboards.
Another market research tool that is worth your time is Answer The Public. This tool’s diagrammatic method of displaying customer enquiries is easily digested and gives you great insight into what model your product should take.
If you’re looking for the best dictating market research tools, look no further than Otter.ai. Its speedy AI-enhanced transcription, and highlighting ability will help you read and digest information quickly. Your product launch has better chances of reaching the right people with a market research tool.