A defined market research tool is an instrument that uses structured, collected, collected and collected information to assess the current trends in the target market. They are statistical tools extensively used to assess the current trends in the target market. These tools are frequently used by companies to get sufficient information about the target audience so that they get sufficient information for their business cause.

Research tools are essential for marketing strategies which are actually used by business men. When the problems are more complex, the market research conducted by various market research companies can help you make more profitable decisions. Through the market research, your company will know…

In the same realm as Answer the Public is Google Trends, which surfaces trends data from all over the internet. You can refine by the location you’re most interested in, or go worldwide. 

When you enter a term into Google Trends, it shows you how that term has been trending over time, and assigns it a score out of 100. You can also compare different terms to see how they hold up against each other.

As an example, let’s say we enter ‘Christmas’ as the search term. We’re presented with a graph that clearly shows that it hits peak trendiness in December, for obvious reasons, and then trends very low for the rest of the year. And now, as I write this in October 2020, it’s beginning the upward trend again – a sign that perhaps people are willing Christmas to come early.

What Are The Market Research Tools

 Think With Google Research Tools

Think with Google market research tools

Wish you had information on your product’s likelihood of success? Think With Google’s marketing research tools offer interesting insights on whether anyone is looking for your product (Google Trends), which markets to launch to (Market Finder), and what retail categories rise as the months and seasons pass (Rising Retail Categories).

If you’d like to market your product through YouTube, the Find My Audience tool allows you to investigate what your potential viewers are interested in and what you should discuss in your brand’s YouTube channel.

Pricing: Free

 Remesh

Imagine a focus group of 1,000 people. Sounds pretty chaotic, right? Not when you add AI into the equation.

Remesh is a tool that makes it easy to gather qualitative insights that shape your marketing strategy. Using Remesh, you can have a live conversation with up to 1,000 people at once, and its nifty platform sorts all of that incoming qualitative data for you into simple, easy to understand insights. 

Check out our handy article if you’re unsure about the difference between qualitative and quantitative research.

What Are The Market Research Tools

 Make My Persona

Make My Persona target buyer creator and market research tool

Make My Persona is a proprietary tool that allows you to create a buyer persona for your potential new product. Defining who might benefit from your product is key to marketing it in an effective way. In this tool, you pick a name for the persona, choose their age, identify their career characteristics, and identify their challenges, allowing you to pinpoint both demographic and psychographic information.

This tool is most suited for B2B product launches, because you’ll be prompted to document your buyer persona’s career objectives and role-specific challenges. As such, your product would ideally solve a problem for them in the workplace or help their company achieve revenue goals.

Pricing: Free

Heartbeat Ai

The world of market research is constantly evolving, and thanks to digital innovation, market research tools are advancing all the time. Heartbeat Ai is no exception to this – its a ‘Human Experience’ software that uses machine learning to suss out the emotions underpinning written content. 

Heartbeat Ai believe that human emotion is a key facet of market research that often gets left out. As it says on their website: “At Heartbeat Ai, we’ve seen the power of unveiling the rich emotional world that word choice analysis conveys. We’re not talking binary indicators of approval. Instead, we generate far more nuanced, concrete insights about how people are triggered by what they experience.”

What Are The Market Research Tools

 Tableau

Tableau analytics platform and market research tool

Tableau is a business intelligence suite of products that allows you to “connect to virtually any data source.” But the data isn’t presented in unreadable tables. Rather, Tableau helps you visualize this data in a way that helps you glean insights, appeal to external stakeholders, and communicate the feasibility of your product to potential investors.

You can visualize data on anything from corn production in tropical climate zones to office product sales in North America. With Tableau’s tools, you can take as granular or as general a look you’d like into potential marketplaces and supplier regions.

Pricing$12/user/month (Tableau Viewer); $35/user/month (Tableau Explorer); $70/user/month (Tableau Creator)

Answer the Public

“There are 3 billion Google searches every day,” the Answer the Public homepage reads, “and 20% of those have never been seen before.” 

That’s a whole lot of insight into exactly what your consumers are thinking, if you know how to access it. 

With Answer the Public, you input a search query – let’s say ‘market research’ for example – and get back every useful phrase and question that people have asked around that topic, all neatly organised so you can quickly make sense of the data. The simple term ‘market research’ becomes everything from ‘how can market research inform product development’ to ‘when market research goes wrong’. 

What’s the point of this? All this data helps you get a sense of exactly what consumers are asking for, so that you can answer them. 

What Are The Market Research Tools

 Statista

Statista data visualization platform and market research tool

Statista is a data visualization website that takes data from reputable reports across the web and makes them easy and digestible for researchers, marketers, and product creators just like you.

It helps you find even the most specific data relating to your industry. Are you planning on launching a new video game and want to know how many hours people spend playing video games? There’s a chart for that.

One neat aspect of using Statista is that the same chart is updated as the years pass. Say that you want to allude to the value of the beauty market in your proposal. If your investor accesses that same graph a year from now, it will reflect updated numbers, as Statista always finds the most recent research to update their visualizations. (Note that Statista doesn’t carry out original research.)

PricingFree; $39/month (billed yearly); $1,950 (one-time 30-day access)

Pew Research Center

(Free)

What Are The Market Research Tools

Insightful, rigorous and transparent data. This is what you can expect from The Pew Research Center, a non-profit organization that conducts research and analysis across a diverse range of areas. These include:

  • US politics and policy
  • Public opinion polling
  • Social and demographic trends
  • News and media
  • Science
  • Religion
  • Technology and the internet
  • Hispanic interest
  • Global interest

More specific topics of interest and research include:

  • Social media
  • Online privacy
  • Broadband access
  • IoT (the internet of things)

 SurveyMonkey

SurveyMonkey market research tool for surveying panelists

SurveyMonkey is a powerful tool for creating in-depth market research surveys that will help you understand your market and consumer preferences.

With this tool, you can create targeted, uber-specific surveys that help you collect answers that pertain specifically to your product. While using a data source can give you a general overview of your target audience and market, SurveyMonkey can help you get more granular insights from real consumers.

SurveyMonkey offers dedicated market research solutions and services, including a global survey panel, a survey translation service for international research, and a reporting dashboard option that allows you to easily parse through the results.

PricingFree, $32/month (Advantage Annual), $99/month (Premier Annual), $99/month (Standard Monthly)$25/user/month (Team Advantage, minimum 3 users), $75/user/month (Team Premier, minimum 3 users), Enterprise (Contact for pricing)

 Living Facts

(Free)

Described as the Pew Research Center’s sister site, and created by The Pew Charitable Trusts, Living Facts has the simple strapline, ‘about Americans today—who we are and how we live. Our goal is to inform and inspire. That’s it.’

What Are The Market Research Tools

With clean, colorful design and infographics, and chock-full of statistics, educational quizzes and fascinating facts, Living Facts covers:

  • Communities
  • Democracy
  • Demographics
  • Faith
  • Health
  • Money
  • Trends
  • Work

 Upwave Instant Insights

Upwave Instant Insights tool for market and consumer research

Upwave Instant Insights is a consumer research tool that’s part of the Upwave brand marketing platform. While it isn’t advertised as a survey creation tool, it allows you to launch market research surveys specifically to get consumer insights.

Instant Insights allows you to target audiences on Upwave’s partner ecosystem and visualize the data for easy scanning by key stakeholders and investors. One pro of using this platform is that Upwave distributes your survey to real people — not just people taking surveys for the money, which could skew the results.

To create a survey, you sign up on the Upwave platform, click your name in the upper right-hand corner, and click “My Surveys,” where you can create as many surveys as you want. For the Basic option, you have a 6-question limit, while the Advanced option allows you to include unlimited questions.

Pricing$2/study participant (Basic); $3/study participant (Extended); $4/study participant (Advanced)

 US Census Business Data

(Free)

What Are The Market Research Tools

There’s nothing to top the data to be found in the US Census when it comes to free market research.
Start with Data Gems, videos that explain how to access census data to inform your business decisions.

Conclusion

Have you ever wanted to help create the next best-selling game? Now you can through market research. Using market research tools can help developers plan for the future.

Then dive into the data, with useful tools that cover:

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