Top 15 Market Research Tools

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Top 15 Market Research Tools Regression Testing
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Market research tools are the backbone of every organization. The tools aid in figuring out who your potential customers are, how to approach them, and their expectations.

Thankfully, market research is no longer a complex process as it was during the times of door-to-door surveys. You may now use internet resources to get the work done quickly and efficiently.

Everybody benefits by using a thoughtful combination of these tools, from small retail shops to e-commerce giants.

In this article, we’ve compiled a list of the finest market research tools, along with pros and cons, and costs.

Before we start going over the list, let us have a look at what tools of market research actually is.

What is a market research tool?

Market research is an essential component for the success of an organization, and in an increasingly competitive world, knowing the complexities of your target market is more significant than ever. 

Fortunately, it is now simpler than ever to obtain important insights. With the development of market research tools, you no longer need to be a market intelligence genius to begin gathering the data you want.

A startup that wants to understand its target audience must conduct market research. Alternatively, if a company intends to offer a new product or service. Investigating potential consumers to determine how an audience would react.

Read how Voxco helps MR firm Phase 5 achieve ↗ faster turnaround & ↑ higher completion rates.

Why look for the best market research tools?

Tools of market research help you gain consumer insights to build an effective marketing strategy. It helps you track brand awareness, analyze competitors, and uncover potential markets. There are many reasons why market research software is useful. Some of them are:

  1. Targeting specific audiences
  2. Decision-making assistance
  3. The connection between the consumer and the public

Let’s learn about these features in specific.

1. Targeting specific audience

Selecting a target audience is a crucial step in market research. A lack of an appropriate target audience will ultimately lead to ineffective outcomes and halt the process.

Market research software must be primarily competent in choosing the right audience for better results.

2. Decision-making assistance

Market research tools assist managers in making realistic judgments. Decisions based on empirical evidence and research are preferable to those based on intuition. The marketing researcher’s functions such as description, assessment, explanation, and forecast aid in practical decision-making. 

As a result, it is a necessary tool not just for marketing managers but also for other functional managers.

3. Connecting a firm to its customers

Tools of market research connect you with your customers, prospects, consumers, and the general public through information. 

It assesses marketing efforts, marketing results, and marketing processes. This evaluation yields knowledge that brings the firm closer to its customers and society.

[Related read: Market Research Mistakes to Avoid ]

What is the best market research tool?

Let us get to know about the top market research tools and their cost and features through a table. Skip the table if you want a detailed description of these tools and move to the next section.

Market Research Tool

Features

Pricing

Voxco Insights

  • Enhance risk management
  • Encourage loyalty
  • Vision to solve problems
  • Boost customer value
  • Biased results
  • 500+ market research organization
  • Growth oriented

Available on request

Tableau

  • Can handle a large amount of data
  • Ease of implementation
  • Creates visual representation
  • Supports complex mutations
  • Access data in various formats

Starts at $70 per month

Statista

  • Filter material by kind
  • Plenty of metrics
  • Combine different marketing tools
  • Examine marketplaces
  • Understand consumer market prospective

Starts at $39 per month

SEMRush

  • Assess content
  • Finding a broken link
  • Determine your competitors and their rank
  • Monitor mentions of your brand

Starts at $119.95 per month

Ahrefs

  • No set-up fee
  • Free/Freemium versions
  • Global SEO
  • Competitive analysis
  • Keyword management
  • Multi-domain support

Starts at $99 per month

Upwave Instant Insights

  • @mentions
  • API
  • Access Controls/Permissions
  • Activity Tracking
  • Agile Methodologies
  • Alerts/Notifications
  • Assignment Management
  • Brainstorming

Plan starts from €8 per month

Census Bureau

  • Quality data
  • Quick results
  • protect confidentiality
  • Research based innovation

Free

MakeMyPersona

  • Interactive web tool
  • Customizable buyer persona
  • Easy layouts and designs
  • Tailor content to specific needs
  • Understand customers better
  • Adds real value to the target audience

Free

Claritas MyBestSegments

  • No set-up fee
  • Behavioral research
  • Segmentation
  • Media targeting and buying
  • Cognitive process of purchase

Plan starts from $89 per report

AnswerThePublic

  • Unlimited searches
  • Unlimited users
  • Compare data over time
  • CSV export
  • Hide branches & suggestions
  • High res images
  • Priority customer support

Available on request

Qualtrics

  • AI tool that assesses your questions in real-time.
  • Set up triggers and alerts to track signals for brand awareness. 
  • AI-based analysis to spot opportunities for improvement. 

Starts at $1500/year

SurveyMonkey

  • SurveyMonkey Genuis, an AI tool that offers feedback to draft surveys.
  • Distribute surveys via multiple online channels. 

Team Premier Plan – Starts at $25/month

BrandMentions

  • Monitor social mentions across different channels. 
  • Run sentiment analysis across all brand mentions.  
  • Detailed analysis of competitors’ social media performance. 

Plan starts at $99/month.

Facebook Audience Insight

  • Gather publicly available demographic data. 
  • Track social media to generate data on people’s interests, likes, hobbies, and more.

Free

Google Trends

  • Delivers data refined by geographical filters. 
  • Allows you to identify areas of customer interest.
  • Provides insights on market trends. 

Free

Market Research Tool

Features

Pricing

Voxco Insights

  • Enhance risk management
  • Encourage loyalty
  • Vision to solve problems
  • Boost customer value
  • Biased results
  • 500+ market research organization
  • Growth oriented

Available on request

Tableau

  • Can handle a large amount of data
  • Ease of implementation
  • Creates visual representation
  • Supports complex mutations
  • Access data in various formats

Starts at $70 per month

Statista

  • Filter material by kind
  • Plenty of metrics
  • Combine different marketing tools
  • Examine marketplaces
  • Understand consumer market prospective

Starts at $39 per month

SEMRush

  • Assess content
  • Finding a broken link
  • Determine your competitors and their rank
  • Monitor mentions of your brand

Starts at $119.95 per month

Ahrefs

  • No set-up fee
  • Free/Freemium versions
  • Global SEO
  • Competitive analysis
  • Keyword management
  • Multi-domain support

Starts at $99 per month

Upwave Instant Insights

  • @mentions
  • API
  • Access Controls/Permissions
  • Activity Tracking
  • Agile Methodologies
  • Alerts/Notifications
  • Assignment Management
  • Brainstorming

Plan starts from €8 per month

Census Bureau

  • Quality data
  • Quick results
  • protect confidentiality
  • Research based innovation

Free

MakeMyPersona

  • Interactive web tool
  • Customizable buyer persona
  • Easy layouts and designs
  • Tailor content to specific needs
  • Understand customers better
  • Adds real value to the target audience

Free

Claritas MyBestSegments

  • No set-up fee
  • Behavioral research
  • Segmentation
  • Media targeting and buying
  • Cognitive process of purchase

Plan starts from $89 per report

AnswerThePublic

  • Unlimited searches
  • Unlimited users
  • Compare data over time
  • CSV export
  • Hide branches & suggestions
  • High res images
  • Priority customer support

Available on request

Qualtrics

  • AI tool that assesses your questions in real-time.
  • Set up triggers and alerts to track signals for brand awareness. 
  • AI-based analysis to spot opportunities for improvement. 

Starts at $1500/year

SurveyMonkey

  • SurveyMonkey Genuis, an AI tool that offers feedback to draft surveys.
  • Distribute surveys via multiple online channels. 

Team Premier Plan – Starts at $25/month

BrandMentions

  • Monitor social mentions across different channels. 
  • Run sentiment analysis across all brand mentions.  
  • Detailed analysis of competitors’ social media performance. 

Plan starts at $99/month.

Facebook Audience Insight

  • Gather publicly available demographic data. 
  • Track social media to generate data on people’s interests, likes, hobbies, and more.

Free

Google Trends

  • Delivers data refined by geographical filters. 
  • Allows you to identify areas of customer interest.
  • Provides insights on market trends. 

Free

List of 15 best market research tools

Here is the list of the best market research tools with their features, pros, and cons:

1. Voxco Insights

Top 15 Market Research Tools Regression Testing

Voxco Insights is the industry’s most adaptable platform. It enables you to reach out to responders through different methods. As an omnichannel platform, regardless of how you conduct surveys, the channels integrate data to create a single picture.

Voxco offers multi-channel survey software that can be used for phone surveys, personal interviews, web surveys, and IVR systems. There are on-premise and hosted alternatives available, and data from all acquisition channels are kept in a single centralized database.  

Features:

  • Conduct online, phone, and offline surveys with an omnichannel platform.
  • Bridge the customer feedback loop with NPS surveys. 
  • Statistical and Text Analysis.
  • Conducts sophisticated market research and promotes business growth.
  • Conduct research using multi-mode and integrate data at a centralized location. 

Pros:

  • User-friendly interface. 
  • Real-time survey monitoring. 
  • Simple and complex surveys. 

2. Tableau

Top 15 Market Research Tools Regression Testing

Second on our list of market research tools is Tableau a data visualization business intelligence package that requires no programming experience. Tableau employs analytics, visualization, and business analysis to display data in a visually appealing manner for improved comprehension. It tries to change how we perceive and utilize data for decision-making.

Features:

  • Data may be simply extracted from PDFs, text, SAS, Python, Excel, and many other formats.
  • Tableau dashboard gives you a complete and healthy picture of your data.
  • Allows the marketer to access data in various formats immediately.
  • Creates visual representations of market research data in order to create actions and make rapid judgments.
  • Integrates natively with various market research products such as Qualtrics and Salesforce

Pros:

  • Ease of implementation
  • Can handle a large amount of data
  • Support complex computations and data blending

Cons:

  • Lack of version control and collaboration
  • Restrictive imports
  • Limited end-user functionality

3. Statista

Top 15 Market Research Tools Regression Testing

Statista fosters individuals all over the globe to make better, quicker fact-based business choices by offering an easy-to-use and cheap global business data platform. One of the reliable market research tools, it collects data from reliable sources available on the internet and converts it into insightful data.  

It may uncover relevant facts about your sector and provide a statistical report that is much easier to grasp.

Features:

  • Experienced and qualified tools
  • Data-driven empowerment
  • Ability to examine marketplaces in over 150 nations.
  • Capability to conduct mass consumer surveys
  • Analysis of market and trends

Pros:

  • One of the best online statistical tools and easy to search for data
  • Excellent tool for displaying Key Performance Indicators (KPIs) in order to comprehend the consumer market perspective.
  • Aids in the study and gathering of information on firms such as their headquarters, number of workers, and revenue performance.

Cons:

  • Visuals are not the best
  • Finding meaningful data for long-tail search queries might be difficult
  • Free plan is limited

Take a tour of our platform to see how Voxco can help you unlock the power of data with its robust functionalities.

4. SEMrush

Top 15 Market Research Tools Regression Testing

SEMrush is a powerful tool that primarily focuses on increasing online visibility and uncovering marketing insights through services such as SEO, PPC, SMM, analytical tools for market research, PR, Content Marketing, Competitive Research, and Marketing Insights. 

Its portfolio includes over 40 tools that may be utilized to attract more customers and enhance conversions.

Features:

  • It is the most effective instrument for market analysis.
  • Allows you to investigate and evaluate the demographics of market rivals.
  • Determine how your rivals’ traffic is generated and assess your market share.
  • Simple monitoring and management of organic rankings.
  • Compatible with leading Google and networking apps.

Pros:

  • One of the greatest enterprise-level tools available.
  • Provides a multitude of keyword suggestion segmentation choices to help you locate the ideal keywords.
  • The technical audit document contains extensive recommendations for site improvement.

Cons:

  • Time investing tool
  • Limited customization of the report
  • Quite expensive for beginners

5. Ahrefs

Top 15 Market Research Tools Regression Testing

SEMrush is a powerful tool that primarily focuses on increasing online visibility and uncovering marketing insights through services such as SEO, PPC, SMM, analytical tools for market research, PR, Content Marketing, Competitive Research, and Marketing Insights. 

Its portfolio includes over 40 tools that may be utilized to attract more customers and enhance conversions.

Features:

  • It is the most effective instrument for market analysis.
  • Allows you to investigate and evaluate the demographics of market rivals.
  • Determine how your rivals’ traffic is generated and assess your market share.
  • Simple monitoring and management of organic rankings.
  • Compatible with leading Google and networking apps.

Pros:

  • One of the greatest enterprise-level tools available.
  • Provides a multitude of keyword suggestion segmentation choices to help you locate the ideal keywords.
  • The technical audit document contains extensive recommendations for site improvement.

Cons:

  • Time investing tool
  • Limited customization of the report
  • Quite expensive for beginners

 

6. Upwave Instant Insights

Top 15 Market Research Tools Regression Testing

Upwave, originally Survata, is one of the top analytical and market research tools for tracking the effectiveness of your brand promotional activities. You can utilize the built-in dashboard to track and adjust each campaign across several channels to increase ROI. 

Upwave data has been highlighted in publications such as Forbes, USA Today, CBS News, and The New York Times.

Features:

  • To conduct timely optimization, and receive real-time updates on outperforming parts of each campaign. 
  • Visualize your projects using several views such as a board, table, timeline, and calendar.
  • Upwave consolidates all of your information and makes it available to everyone on your team across all devices.
  • Monitor, analyze, and act on operations with your own customizable portfolio view, which provides quick access to all essential data.
  • Use visual boards to manage activities and projects. Create your own structure or utilize established templates such as Kanban, Business Model Canvas, or SWOT analysis.

Pros:

  • Ensures accurate campaign analytics
  • Easily compares cross-channel results
  • Optimizes underperforming tactics mid-campaign

Cons:

  • Lack in critical areas
  • Do not work on smartphone
  • Complicated process for beginners

100+ question types, advanced logic, white-label, auto-translations in 100+ languages, and more. See all the features Voxco Online has to offer.

7. Census Bureau

Top 15 Market Research Tools Regression Testing

The Census Bureau provides a free website for accessing census data in the United States. For companies with limited budgets, this is one of the best market research tools. You can refine your search by age, income, year, and area. You can also access visualizations of the data using some of its shortcuts, allowing you to explore viable target audiences across the country.

Features:

  • Provides detailed and authentic information
  • Providing current facts and figures
  • Protects the confidentiality of all the information 
  • Reduces respondent burden since fewer persons are required to supply the necessary data.
  • Allows for the testing of traits that would otherwise be impossible to evaluate

Pros:

  • Results can be obtained fast.
  • Reduces costs, both in monetary and manpower terms.
  • Research-based innovation.

Cons:

  • Extensive cross-tabulations may be impractical.
  • Estimates are prone to sampling error since they are computed from a subset of the population.
  • Users may have trouble explaining the accuracy of the estimations.

8. MakeMyPersona

Top 15 Market Research Tools Regression Testing

MakeMyPersona is a free interactive web application that allows you to quickly and simply create professional, customizable buyer personas. HubSpot’s market research tools enable you to ask specific questions geared to organize and comprehend your consumer’s persona.

Features:

  • Instinctive marketing tool
  • Provides step-by-step manual
  • With a single click, you may download and export the buyer persona.
  • Adds real value to the target audience
  • Validates all decisions made by the team to guarantee overall success.

Pros:

  • Effortless process
  • Focused outcomes
  • Aids in product positioning

Cons:

  • It cannot be used to gather information on the target market
  • Become outdated with respect to global change
  • Stereotypical data

9. Claritas MyBestSegments

Top 15 Market Research Tools Regression Testing

Ninth on our list of market research tools, Claritas MyBestSegments is a comprehensive consumer research database that includes demographic, regional, psychographic, and behavioral data. Users can create reports based on a variety of criteria to identify purchasing patterns, market potential, and more.

Features:

  • Aid in the introduction of health insurance goods into a new market
  • Build solutions based on the requirements and habits of the community 
  • Capable of mapping dangerous health behaviors across service areas
  • Cognitive process of purchase
  • Evaluate market segments by linking customer behavior

Pros:

  • Cost effective
  • Better use of media buys
  • Customer satisfaction

Cons:

  • Time-consuming
  • Onboarding process is a bit difficult
  • Undeveloped user interface

10 . AnswerThePublic

Top 15 Market Research Tools Regression Testing

AnswerThePublic is a tool for conducting keyword research. It helps you determine what themes to write  or offer, and how to attract your target audience for marketing objectives. It listens for autocomplete data from search engines like Google and rapidly generates every meaningful term and query users ask.

Features:

  • For amateurs, it is quite simple to use and understand.
  • Listens to search engine autocomplete data and generates meaningful words and inquiries.
  • The data may also be utilized to produce incredibly valuable content and products.
  • Integrates with other well-known programs to generate additional insights.
  • Gives the context of every search

Pros:

  • Excellent for targeted keywords and coming up with new subject ideas.
  • Provides a free plan.
  • It gives you a unique and simple data visualization form.

Cons:

  • Challenging to find keywords
  • Results become irrelevant when searching two keywords at the same time
  • Lack of demographic information

Agile Market Research Guide- Free!!

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Agile methods can help transform your business, download the guide to start using the agile approach for your research.

11. Qualtrics

Top 15 Market Research Tools Regression Testing

Qualtrics is one of the most robust and cutting-edge market research tools. The platform enables you to gauge customer satisfaction, track brand awareness, evaluate products/services, and run market research. The platform also offers AI-based analytics to help you generate insights in real time.

Features:

  • Optimize survey for all screen sizes.
  • Track brand awareness across online channels via an AI-based dashboard.
  • Set up triggers and alerts to track signals for brand awareness.
  • AI-based analysis to spot opportunities for improvement.

Pros:

  • Easily build surveys.
  • XM services help manage market research.
  • Generate custom reports for real-time and business-aligned insights.

Cons:

  • It has a steep learning curve.
  • There is a limitation in customizing surveys.

Related: Voxco Vs. Qualtrics

12. SurveyMonkey

Top 15 Market Research Tools Regression Testing

SurveyMonkey will help you create targeted surveys to understand your customer preferences and market trends. It offers an enterprise-grade platform suited for organizations of all sizes. As one of the best market research tools; this platform also offers a global survey panel, survey translation, and reporting dashboard.

Features:

  • AI-powered tool that offers feedback while drafting surveys.
  • Monitor market dynamics over time for a particular product category.
  • Advanced survey features like skip logic, randomization, branching logic, etc.
  • 200+ templates to customize surveys.

Pros:

  • Easy to use platform.
  • Distribute surveys via email, social media, mobile chat, and weblink.
  • Design recurring surveys to track customer sentiment.

Cons:

  • Capabilities like white-label surveys, crosstabs, and more are limited to special packages.
  • Customer service is available by email. Phone service is available for the “Business package”.

Related: Voxco Vs. SurveyMonkey

13. BrandMentions

Top 15 Market Research Tools Regression Testing

BrandMention is one of the best market research tools if your purpose if to learn what the audience is saying about your brand. The tool also allows you to monitor and spy on competitors’ social media mentions.

Track brand engagement and uncover when people are searching for your product on social media platforms. You can use this tool to generate insights on how people feel about the products you are launching, so you can refine your campaigns.

Features:

  • Monitor social mentions across different channels.
  • Run sentiment analysis across all brand mentions.
  • Respond to brand mentions.
  • Detailed analysis of competitors’ brand mentions and performance.

 

Pros:

  • Intuitive interface.
  • Set triggers to get real-time alerts for any negative brand mentions.

Cons:

  • Only suitable for social media data.
  • Generating automated reports can be time-consuming.

14. Facebook Audience Insights

Top 15 Market Research Tools Regression Testing

Facebook has become one of the most popular platforms to gather market insights. It is one of the top free market research tools that allow you to reach 2.93 billion active users.

Facebook Audience Insights allows you to create a target audience and identify prospects who match your target market. However, it is limited to Facebook users. You can use robust survey software to expand your reach across other social platforms and online channels.

Features:

  • Gather publicly available demographic data.
  • Track social media to generate data on people’s interests, likes, hobbies, and more.

Pros:

  • Easy to use platform.
  • Wider reach and unparallel insight.

Cons:

  • Limited to Facebook users.

Voxco helps the top 50 MR firms & 500+ global brands gather omnichannel feedback, measure sentiment, uncover insights and act on them.

See how Voxco can enhance your research efficiency.

15. Google Trends

Top 15 Market Research Tools Regression Testing

Google Trends is one of the most used free tools for market research. The platform allows you to understand what people look for on Google. Introduced in 2006, it tracks the popularity of topics by location over time. Used as a market research tool, it helps you identify what’s trending among the audience. 

Features:

  • Delivers data refined by geographical filters. 
  • Shows the frequency of searched terms allowing you to identify areas of customer interest.
  • Provides insights on market trends. 
  • Competitor analysis. 
  • Gathers data across multiple search networks such as YouTube and Google Shopping.

Pros

  • Fantastic tool to gather keyword-related insights. 
  • Uncover search spikes in real time. 
  • Large volume of data. 

Cons

  • Shows irrelevant results for the searched items.

Conclusion

This concludes our list of best market research tools. The above marketing research tools can significantly improve your everyday toolset.

Having said that, you now have to sit calmly and choose the best tool according to your requirements and the price that suits you the best.

FAQs on Market Research

Market research surveys help you understand your target audience and cater to their needs and demands.

  • It tells you “why” customers like/dislike you.
  • It helps you learn about customer experience and satisfaction with your brand.
  • It enables you to validate your concepts/ideas and identify market opportunities.

Market research tools help you extend your reach and engage an audience worldwide. The tools allow you to learn about the target market, uncover prospects, and explore hidden opportunities.

  • The tools are efficient and help you get closer to customers and prospects faster.
  • They are cost-effective. You can perform your own research without hiring an expensive MR firm.
  • Modern tools allow you to conduct research surveys, analyze data, and uncover powerful insights all in one platform.

There are several ways you can use tools for market research to collect customer data. Here are four common ways to run your research based on your goal or budget.

  1. Surveys – You can conduct online surveys via email, SMS, web pop-up, or social media to gather quantitative or qualitative data. You can also conduct offline surveys using a mobile device to collect data without the internet.
  2. Interviews – Use phone surveys to engage the audience in a one-on-one conversation. Or, use offline surveys to have an in-depth interview with your target audience wherever they are.
  3. Focus groups – Study your target audience and engage in a lively discussion to gain deeper real-time insights.
  4. Observation – Study the audience as they engage with your product/ or similar products in a natural setting. Observe their behavior and build a basis for further research.

Gauging the customers and prospects to understand their demands, buying experiences, pain points, and expectations is a part of market research.

User research, however, evaluates the usability of specific products. It measures the users’ experience with a particular product.

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