10 Best Market Research Tools to Grow Your Business [2023]

Did you know?

Lack of proper market research is one of the main reasons businesses fail.

For example, pushing your real estate app when there’s an overall downward trend in the market can take a toll on your business.

So, how do you tackle this challenge?

Market research is the answer! With the right market research, you can assess your market and your target group’s needs and devise strategies accordingly.

This blog will discuss the top ten market research tools to help you save time and resources while giving you the best possible results.

Let’s get started.

Why do you need a market research tool?

Entrepreneurs rely on customers to march towards progressive success.

How to find the right customer? In what ways could you gain a larger customer base? Why is the startup business or the large business slouchy? In brief, the how what and why are resolved by these tools.

Following are the 10 of the best market research tools for you:

1. Attest

Attest is one of the best consumer insight tools, where market trends, competition tracking, and the development of new products and services are the active ingredients.

Attest, the house of 100M consumers, answers accurately for the surveys you build. Upgraded data quality and analysis help you make wise business decisions. Attest lets you set survey questions which can be enabled as one question at a time or tile display.

2. Answer the Public

Answer the Public is a tool that lets you visualise search questions. When you type out a topic or keyword on Answer the Public, it displays people’s possible questions about that topic.

Let us move further to have a quick look at how it works.

The result would be in four different panels- Questions, Prepositions, Comparisons, Alphabetical and Related. Under each panel, ‘visualisation’ and ‘data’ icons are displayed, where both serve the same purpose in different ways.

Visualisation displays the possible questions made in a pictorial branch representation and we can switch to the data icon, which displays in page format.

For instance, if the topic is “headphones” the results under panel “Questions” would be like, Will headphones cause hearing loss? Which headphones are best? These questions will be corresponding to how, will, which, what, who, why, where, when, can, and are.

3. Think with Google

Just providing the consumer insights alone is not the duty of Think with Google. Under one roof, there is room for facts, analytics data and knowledge a human carries, which are rarely sourced in other mediums.

If you log into the Think with Google tool, you can check the preferred country.

The left side of the layout displays the menu; when clicked, it enables the options such as Consumer Insights, Marketing Strategies, Future of Marketing and Tools.

Each option has its respective sub-categories where you can do your search. Article updates relative to each topic are pinned under corresponding nations to which they belong.

4. Statista

Statista is a market and consumer data portal containing data from various industries.

Diving into the search is relativelyeasy in this research tool. Click on the Statista page, and it will take you to the search page.

The search page also has the menu icon, which stages the further subsections Prices & Access, Statistics, Reports, Outlooks, Company DB, Infographics, Services and Global Consumer Survey.

It also directs you to learn the details of in-scope, out-of-scope reports, and revenue data charts and displays growth statistics compared to the global market.

5. SurveyMonkey

SurveyMonkey is a research tool that generates insightful reports from your survey. What vision customers have on your market can be quickly viewed by the survey conducted. Here the customers can shout out their opinions and experiences.

The dashboard provides a create survey option. It opens into a Question Bank panel having automated questions with answer choices.

In addition to making it convenient for the consumers, both are enabled for re-edit. We can resend the survey and compare the previous report to the present.

6. Typeform

This tool is where you find interactive forms and online surveys. Typeform is a simplified and user-friendly survey format. One question at a time is how it is designed.

The customers providing feedback can include suggestions relating to the experience they had. In the case of extensive data collection, the result can be assessed by viewing analytics of the entire survey.

Typeform takes you to a template gallery, where you can opt for feedback form, MCQs, short questions, long questions, images or videos, yes/no, rankings, opinion scale, matrix, date, number, dropdown, website and Question group while creating a Typeform survey.

You can connect with the audience and share the questionnaire through platforms like mail, LinkedIn, and Twitter, and the results will be available in metrics, analytics and reports.

7. Google Trends

Google Trends is also one of the free and popular online consumer insight tools. The research topic’s result will be generated in line with the latest trend and the word’s popularity.

Google Trends provides the user with the data of comparative metrics of two different markets or products. You can choose the insights of a varied range from past years or months and past hours. Your comparison of different products will be marked in different colours in the chart for easy identification.

8. Qualtrics

Qualtrics is a business survey tool. The business size determines the price of the plan. It lets you create surveys and polls and collect feedback. The tool helps you scale the customer flow, brand growth and product experience.

The page opens to the Survey section, where you can create questions. The screen displays charts of workflows, distributions, data & analysis, results and reports. Here the results are even drafted to the Reports panel, which can be downloaded or shared.

9. Userlytics

Userlytics tool scans your website or the mobile app and allows you to screen the consumer usage.

On Userlytics, the survey form can be of varied choices like short questions, MCQs, open-ended questions, Net Promoter Score questions, Single Ease Questions and System Usability Scaling method. These survey polls are the reflection of the questions attended by the candidates.

This tool also has access to your customers’ webcam and screen recording to compare the choice of answer to their reaction to the app or website.

10. SurveySparrow

SurveySparrow is another online market survey tool that converts the surveys conducted into conversations. This tool can schedule the question feeds according to the market need.

SurveySparrow helps you create highly engaging surveys to ace your market research. The key areas are audience management, live preview, customisation, and rich analytics in SurveySparrow.

You can carry out a host of surveys on SurveySaprrow such as Classic Survey, Chat Survey, NPS (Net Promoter Score) Survey and Offline Survey. You can either opt for a pre-equipped template or a blank one to conduct a survey.

Takeaway

These market research tools are an easier way to measure and analyse the metrics and trends of the live market. Wouldn’t it be smart if a few taps allowed you to analyse the competitive market and know the consumers’ desires and appeal to your product? Plus, these tools help identify your targeted customer better with data-driven insights.

After proper market research, you can go ahead with your business plan and think of building your product. That’s where a reliable tech partner like NeoITO can help you.

Have an exciting project in mind? Contact us now and get a free consultation.