What is Market Research Software?
Market Research Software enables organizations to recruit, survey, research, analyze data, and report on their findings.
Market researchers analyze market activity to deliver market insights and new perspectives to their clients or internally within their organizations.
Insights are shown via reports, white papers, infographics, and other forms of deliverables.
In this article, we take a look at the best market research software on the market today.
Let’s take a look.
Best Market Research Software
#1 Google Trends
Google Trends is a website by Google that analyzes the popularity of top search queries in Google Search across various regions and languages.
Google uses this data to track the internet zeitgeist, or what’s trending worldwide.
You can use Google Trends for market research in a few ways:
- Find out which keywords are being searched for the most in your industry.
- Analyze regional interest in your products or services.
- Track seasonal trends to see when people are searching for your business the most.
- Research what people are saying about your brand on social media.
Google Trends is free to use and easy to navigate. Simply type in a keyword or phrase to see how popular it is globally or within a specific region.
Keyword Research with Google Trends (How to Guide)
SurveyMonkey is one of the most popular market research software platforms. It offers a wide range of features, including:
- A variety of question types
- Advanced logic and branching
- Real-time results
- Customizable templates
- Integration with other software platforms
Pricing for SurveyMonkey starts at $25 per month.
#3 Qualtrics Research Suite
Qualtrics is another popular market research software platform that offers many of the same features as SurveyMonkey. It also has a few unique features, such as:
- The ability to create custom panels of respondents
- Powerful data analysis tools
- API access for integration with other software platforms
Pricing for Qualtrics starts at $29 per month.
Statista is a market research software that provides users with access to a wide range of data and statistical tools. Statista’s user-friendly interface and comprehensive data sets make it a valuable resource for market researchers, businesses, and students alike.
Statista offers a variety of features that make it an essential tool for anyone interested in market research.
Firstly, Statista provides access to an extensive database of market data and statistics. This includes data on industries, companies, products, and countries.
Also, Statista offers a range of analytical tools that allow users to manipulate and visualize data sets. These tools include regression analysis, correlation analysis, and time-series analysis.
Statista offers a range of features that make it easy to share data and collaborate with others. These features include the ability to create custom reports, export data to Excel and PowerPoint, and share data sets with colleagues.
Moreover, Statista offers a range of subscription options that allow users to tailor their experience to their needs. For example, users can purchase a subscription that provides access to all of Statista’s data sets, or a subscription that provides access to only certain data sets.
Overall, Statista is an essential tool for anyone interested in market research. The software’s extensive database of market data and analytical tools make it a valuable resource for businesses, students, and market researchers alike.
Statista for Academic and Professional Research
Tableau is a business intelligence software that helps users visualize data and create interactive dashboards. It is one of the most popular market research tools available today.
Tableau can be used to analyze any type of data, including sales data, customer surveys, social media data, and more. It offers a wide range of features that make it an ideal tool for market research.
Some of the key features of Tableau include:
Tableau’s visualizations are highly customizable and allow users to create any kind of chart or graph they need.
Dashboards created in Tableau are interactive, meaning that users can drill down into specific data points to get more information.
Reports created in Tableau can be customized to include any data that users need.
Tableau is a powerful market research tool that offers a wide range of features to help users visualize and analyze data.
#6 Social Mention
Social Mention is a social media search engine that searches for content related to your brand or product on the web. It’s a great way to see what people are saying about your brand online, and to get insights into how you can improve your marketing efforts.
What makes Social Mention unique is its ability to track not just traditional news sources, but also blogs, forums, microblogs, and social networks. This gives you a more comprehensive view of what people are saying about your brand online.
In addition to monitoring your brand, Social Mention can also be used for competitive intelligence. By searching for your competitor’s name, you can see what people are saying about them online. This can give you insights into their marketing strategies and help you develop your own competitive advantages.
QuestionPro is a popular market research software that helps you gather feedback from your target audience. It offers a wide range of features, including surveys, polls, questionnaires, and more. With QuestionPro, you can easily create and distribute surveys to collect data from your target audience.
QuestionPro is a great tool for businesses of all sizes who want to gather feedback from their customers or employees. It’s easy to use and offers a wide range of features, making it a great choice for those looking for a comprehensive market research solution.
How does QuestionPro work?
QuestionPro allows you to easily create and distribute surveys to collect data from your target audience. You can create surveys using the built-in survey templates or customize your own. Once you’ve created your survey, you can distribute it via email, social media, or embed it on your website.
QuestionPro also offers a wide range of features to help you collect and analyze data from your surveys. You can use the built-in reporting tools to generate reports on your survey results, or export your data to Excel for further analysis. QuestionPro also offers real-time results, so you can see how your surveys are performing as soon as they’re completed.
Features to Look For in Market Research Software
When choosing market research software, there are a few key features to look for. Here are some of the most important:
Compatibility with your existing tools and systems
Make sure that the market research software you choose is compatible with your existing tools and systems.
Otherwise, you’ll likely have to invest in new hardware or software to use it.
Ease of use
Choose market research software that’s easy to use, so you can get up and running quickly without having to invest in training or support.
Look for market research software that offers a wide range of features and is flexible enough to meet your changing needs.
Make sure that the market research software you choose can scale to meet your future needs. Otherwise, you may have to replace it sooner than you’d like.
Consider the cost of the market research software and make sure it fits within your budget.
Some market research software is offered for free, while others charge a monthly or annual subscription fee.
Look for market research software that offers a free trial so you can test it out before making a commitment.
This way, you can be sure that it’s the right fit for your business.
What Are the Benefits of Using Market Research Software?
There are many benefits of using market research software. Here are some of the most important:
Market research software can save you a lot of time by automating tasks that would otherwise be done manually.
This includes tasks like creating surveys, distributing them to your target audience, and analyzing the results.
Market research software can also help you save money by eliminating the need to hire expensive market research firms.
In addition, it can help you reduce the cost of data collection and analysis.
Improved decision making
By providing insights into your target market, market research software can help you make better decisions about your marketing and business strategies.
This leads to improved ROI and increased profits.
Market research software can help you work more efficiently by automating tasks and providing insights that would otherwise be unavailable.
This leads to increased productivity and improved decision-making.
How to Do Market Research
What Are the Different Types of Market Research Software?
There are many different types of market research software available, each with its own unique features and benefits. Here are some of the most popular:
Online survey software allows you to easily create and distribute surveys to collect data from your target audience. SurveyMonkey, Qualtrics, and SurveyGizmo are all popular online survey tools.
Focus group software
Focus group software helps you manage and monitor focus groups so you can collect data about your target market.
Decipher and TechValidate are two popular focus group tools.
Customer feedback software
Customer feedback software helps you collect and analyze customer feedback so you can improve your products and services. CustomerGauge, GetFeedback, and Qualtrics are all popular customer feedback tools.
Market intelligence software
Market intelligence software provides insights into your target market so you can make better decisions about your marketing and business strategies. Forrester, Mintel, and Gartner are all popular market intelligence tools.
Pricing research and pricing optimization software
Pricing research software helps you understand the relationship between price and demand so you can optimize your pricing strategy. PROS, Optimal Workshop, and Angaros are all popular pricing research tools.
Competitive intelligence software
Competitive intelligence software helps you track and analyze your competitors so you can stay ahead of the competition. Crayon, Owler, and ZoomInfo are all popular competitive intelligence tools.
Keyword research software
Keyword research software helps you understand which keywords are most important to your target market so you can optimize your website and marketing campaigns.
Google AdWords Keyword Planner, Moz, and WordStream are all popular keyword research tools.
SEMrush offers solutions for market research, SEO, app store optimization (ASO), pay-per-click advertising (PPC), content, social media, marketing automation tasks, and competitor research.
With SEMrush, marketers can find insights on:
- domain analytics
- keyword analytics
- topic research
- gap analysis
- content templates
- writing assistants
- lead generation
- CPC map
- Traffic Jet (ad automation solution)
- marketing calendar
- project dashboards
- custom reports, and more
SEMrush is trusted by over 6,000,000 marketers worldwide.
Interested in knowing more about the competitive landscape of your industry?
SEMrush has a tool.
Explore the Competitive Landscape of Your Industry
FAQs – Market Research Software
What is market research?
Market research is the process of collecting and analyzing data about a target market.
This includes information about the market’s size, growth, demographics, needs, and preferences. Market research is used to make decisions about marketing and business strategy.
What are the different types of market research?
There are many different types of market research, each with its own unique benefits.
Some of the most popular types of market research include online surveys, focus groups, customer feedback, market intelligence, pricing research, competitive intelligence, and keyword research.
How much does market research software cost?
The cost of market research software varies depending on the features and functionality you need.
However, many market research software tools offer free trials so you can try before you buy.
How do I choose the right market research software?
The best market research software for your business will depend on your specific needs and goals.
To choose the right market research software, consider what type of data you need to collect and what features and functionality are most important to you.
Once you’ve narrowed down your options, be sure to read online reviews and compare pricing before making your final decision.
Which are the best market research software?
Some of the best market research software include SurveyMonkey, Qualtrics, SurveyGizmo, Decipher, TechValidate, CustomerGauge, GetFeedback, Forrester, Mintel, Gartner, PROS, Optimal Workshop, and Angaros.
Conclusion – Market Research
Market research is an essential part of any successful marketing strategy. By understanding your target audience and collecting feedback from them, you can develop products and services that they will love.
The right market research software can help you collect and analyze the data you need to make informed decisions about your business.
When choosing a market research tool, be sure to consider your specific needs and goals. And don’t forget to read online reviews and compare pricing before making your final decision.