Best Market Research Tools & Software to Grow Your Business

The success of your business largely depends on understanding intricate patterns of consumer behavior and industry trends. Conducting market research can help to discover both big and small details about the market and make data-driven decisions. It allows you to make smart decisions by understanding things that others might overlook.

In this article, we'll check out some of the top market research tools that can help you uncover market secrets, make informed decisions, and increase overall customer satisfaction. Let’s get started!

TL;DR

• Market research tools are software that companies use to gather, analyze, and interpret all the data related to markets, consumers, competitors, and industry trends.

• Market research tools provide businesses with opportunities to identify challenges in market segments, make informed business decisions, and formulate marketing strategies.

• Selecting the appropriate market research feedback software requires evaluating various factors, including your business objectives, the software's features, scalability, reliability, and how effectively it aligns with your specific business requirements.

• Some of the best market research tools include Zonka Feedback, SurveyMonkey, Typeform, Qualaroo, Qualtrics, and QuestionPro. Popular choices for free market research tools are Google Trends, Census Bureau, Answer the Public, and Pew Research Center.

• Zonka Feedback is one of the best market research tools equipped with amazing features to meet your research requirements. It helps you create and share online and offline surveys, analyze real-time reports, take action, and close the feedback loop. You can try it for free or schedule a demo to see how it works for your business.

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Best Market Research Tools

Let us directly jump into the top market research tools that can help you conduct and perform market research, of all kinds, transform your approach to data-driven decision-making, and drive your business forward.

1. Zonka Feedback

Zonka Feedback is one of the most popular tools for market research that helps to get consumer insights. It simplifies the process of conducting market research through surveys and offers a range of question types along with survey logic and branching. This allows researchers to quickly gauge the responses of their target audience and adapt their strategies accordingly.

Through advanced user segmentation and comprehensive data collection across various touchpoints in the customer journey, Zonka Feedback empowers market researchers to harness the potential of data-driven insights. It has powerful reporting and analytics capabilities that offer a holistic view of consumer sentiments, enabling you to navigate the ever-evolving market landscape effectively.

Key Features

• 100+ ready-to-use survey templates for various industries including microsurveys like metric survey templates - NPS survey template, CSAT survey template, and CES template.

• Advanced reporting and analytics options like snapshot reports, response inboxes, trends reports, etc. to track and analyze user interactions, identify trends, and gain actionable insights.

• Multi-channel feedback collection through email, SMS, survey link, QR code, tablet, kiosk, and website surveys through feedback widgets like popup surveys, bottom bars, slide up surveys, and feedback buttons.

• Customize questions based on previous responses, ensuring more meaningful and relevant surveys for the target audience using skip logic and branching.

• Send targeted surveys to specific groups of users to gather focused insights to optimize the effectiveness of market research efforts.

• Capture real-time feedback on customer sentiment and experience and take immediate action to enhance customer satisfaction.

• Create surveys with just a few clicks without any coding and technical knowledge.

• Streamline operations by automating task assignments to team members using predefined rules and triggers for facilitating feedback loop closure and accountability at every step.

• Seamless integration with other business applications like HubSpot, Salesforce, Zendesk, Slack, and more for easy market research data synchronization.

Pricing

• Free plan is available.

• Paid plan starts at $49/month.

• It also offers a free trial for 7 days for its paid plans.

2. QuestionPro

QuestionPro is one of the most premium online survey tools that excels in creating surveys and distributing them across multiple survey collection channels. Its advanced reporting and analytics capabilities facilitate deep market research, data interpretation, and trend identification, enabling actionable insights for product, service, and marketing optimization. This, in turn, enhances customer satisfaction and drives market success.

Key Features

• Employ skip logic branching to customize survey responses, especially useful for complex surveys.

• Seamless Google Sheets integration for swift and efficient analysis.

• Customize the thank you page with your logo and personalized message to conclude the survey experience on a branded note.

• Connect with respondents in their native languages through multilingual surveys, expanding your reach and gaining global insights.

• 24/7 LiveChat support

• Distribute surveys through various means, including email, links, social media, and embedded text.

Pricing

• Free plan is available.

• Advanced plan starts at $99/month.

• It also offers a free trial for 10 days for its paid plan.

3. SurveyMonkey

Whether it's measuring satisfaction among customers, gauging trends in the market, or conducting in-depth market studies, SurveyMonkey offers a comprehensive suite of survey templates and customization options. Its powerful analytics tools allow users to interpret survey data, identify key trends, and draw actionable conclusions, helping you refine your strategies, improve products and services, and stay competitive in the market.

Key Features

• Inbuilt survey templates to get started with creating market research surveys and collecting feedback.

• CX metrics like Net Promoter Score (NPS), Customer Satisfaction (CSAT) score, Customer Effort Score (CES), and customer service feedback.

• Skip logic, question branching, and answer piping.

• Integrations with 120+ systems like Salesforce, Tableau, and Marketo.

• Feedback analysis, and closing the feedback loop.

• Product, feature, and concept testing with the target market audience.

• Team collaboration on one platform.

• Sharing surveys through a link, email, social media, or embedding in a web page.

Pricing

SurveyMonkey offers paid plans, beginning with the Individual Standard Monthly plan priced at ₹899 per month.

However, its lower-pricing plans may not offer many functionalities. If you feel SurveyMonkey does not serve your purpose, you can check out SurveyMonkey alternatives.

4. Statista

Statista is a comprehensive market research tool that provides access to a vast and diverse collection of statistical data and research findings. It gives up-to-date data on retail sales to help identify rapidly growing industries. This resource is a valuable asset for creating buyer personas, constructing online surveys, and incorporating data into content marketing strategies.

If you are a market researcher in search of reliable statistics rooted in thorough research, Statista can be an ideal platform for you.

Key Features

• Extensive data repository across numerous industries, including finance, healthcare, technology, consumer goods, and more.

• In-depth industry reports and market studies that cover key topics and emerging trends within specific sectors.

• Customizable data searches and reports to focus on specific market segments, regions, or industries based on individual needs.

• Visual representation of data in user-friendly formats, such as charts, graphs, infographics, etc.

• Market forecasts and projections to anticipate future trends and plan strategies.

• Published consumer surveys on various topics to get insights into consumer preferences, behaviors, and attitudes.

• Global surveys offer consumer insights for businesses operating in international markets or conducting global market research.

Pricing

• Basic account is free.

• Starter account costs $199/month.

5. Typeform

Typeform is a well-known market research tool that adopts a conversational approach by presenting one question at a time in surveys. This conversational flow is highly effective in engaging customers and can even lead to increased survey response and completion rates.

Key Features

• User-friendly interface for easy creation of customized surveys through a drag-and-drop process.

• Robust analytics and reporting tools that provide real-time consumer insights into survey responses.

• Ready-made survey templates with 20+ question types.

• Tailored follow-up questions through skip logic and question branching.

• Survey reports can be synced to tools like Google Sheets and Zapier.

• Integrations like Slack, Google Analytics, Salesforce, and more.

• Multiple distribution channels - email, social media, and website.

• Easy-to-share reports, analytics, and results dashboard.

• Easy to build automated workflows.

Pricing

• Free plan available.

• Basic plan starts at $17/month.

6. Qualtrics

Qualtrics is an AI-driven research platform that helps global brands to excel in customer experience management. Renowned as one of the premier market research tools, Qualtrics expedites high-quality market research initiatives. Employing advanced statistical methodologies, the tool extracts intricate details about your target audience, facilitating efficient and high-quality market research processes.

Key Features

• 50+ expert survey templates and 100+ question types to create customized feedback surveys.

• Advanced survey logic and question branching capabilities.

• Powerful analytics and reporting to dive deep into feedback from customers' data collected.

• Customer journey mapping to identify pain points and areas of improvement.

• Multiple channels to share your surveys - email, chatbot, SMS, contact management, web, social media, QR codes, and offline surveys.

• Built-in closed-loop follow-up and action planning with automated tickets based on feedback meeting certain conditions.

• Run statistical tests and apply visualizations on existing data sets and communicate it to stakeholders.

• Conjoint analysis and predictive analysis to improve the customer experience.

• Intuitive survey builder with skip logic, branching, and custom question types.

Pricing

Detailed information about the paid plans is not available on the website. To obtain specifics about customized paid plans, you can get in touch with their team. Some resources indicate that pricing starts at $1500 per month.

Some customers perceive this tool as being on the higher end of the price spectrum. Therefore, if you are seeking a more budget-friendly option, you can explore Qualtrics alternatives to discover the most suitable option for your needs.

7. Qualaroo

Qualaroo is a versatile market research tool designed to help businesses gain valuable insights into their customers and website visitors. Through its user-friendly platform, Qualaroo offers features such as market research questions, survey creation, feedback collection, and data analysis.

Additionally, the tool excels in facilitating the creation of detailed user personas, employing advanced targeting techniques that offer deeper insights into user behavior and goals, making it a valuable asset for understanding and tracking customer behavior and preferences.

Key Features

• Create customized surveys using different question types and pre built survey templates

• Perform feedback mining, keyword and emotion identification and semi-automatic feedback closing using the analytics dashboard

• Ability to create free surveys online and asynchronous code for website surveys so they don’t slow the website

• In-app surveys using its free customer feedback app

• Closed and open-ended questions

Pricing

• Pricing starts from $19/month for email surveys and $69/month for contextual surveys.

• It also offers a free trial for 15 days.

8. Tableau

Tableau is a business intelligence suite that offers robust intelligence capabilities to enterprises of various sizes. Its primary strength lies in its ability to transform data into visual insights, enabling users to create interactive charts, compelling stories, and informative dashboards that facilitate comprehensive data analysis.

It is a popular choice for larger organizations equipped with embedded business intelligence analytics teams.

Key Features

• Create interactive and insightful data visualizations.

• Connect to various data sources for comprehensive analysis.

• Build interactive dashboards and data stories.

• Access real-time data for instant insights.

• Combine data from different sources for a unified view.

• Perform ad-hoc data analysis and exploration.

• Share and collaborate on data insights within your organization.

• Access and interact with data on mobile devices.

• Customize visualizations and reports to suit your needs.

Pricing

• Free trial is available.

• Premium plan starts at $42.

9. Ubersuggest

Ubersuggest serves as valuable market research software for discovering fresh keyword concepts for effective marketing campaigns. Simply input a domain or keyword, and this tool will present you with keyword recommendations, monthly search volumes, and additional insights to assist you in your keyword searches and pinpointing the most promising opportunities related to your target keyword.

Key Features

• Generate keyword suggestions, encompassing both long-tail and short-tail options.

• Keep tabs on keyword metrics, such as monthly search volume, PPC competition, CPC, SEO competition, fintech SEO and more.

• Perform comparative keyword research by analyzing top-ranking pages for your target keywords, assessing estimated traffic, social shares, and domain scores.

• Utilize the SEO analyzer to conduct site audits and speed assessments.

Pricing

• Free plan is available.

• Individual paid plans start at $29/month.

10. BrandMentions

BrandMentions is a versatile market research and social media monitoring platform that offers you a comprehensive toolset for monitoring your brand's online presence and brand reputation. With this market research platform, users can track brand mentions across various online platforms, including social media, news articles, blogs, and forums, providing valuable insights into how their brand is perceived by the digital community.

This software enables users to stay ahead of trends, track competitors, and gauge the effectiveness of marketing campaigns by offering real-time alerts and in-depth data analytics together.

Key Features

• Track social mentions across various channels like Facebook, Instagram, Twitter, etc.

• Respond to brand mentions from the dashboard to build an online community.

• Find and connect with influencers to fuel your marketing efforts.

• Monitor hashtag performance across different channels.

• Conduct sentiment analysis of all brand mentions tracking overall sentiment tone.

• Perform market analysis for competitors' internet performance.

• Track competitors' brand mentions, social shares, and other data to identify popular channels.

• Set alerts for trending topics and news to optimize business strategies effectively.

Pricing

• Growing business plan starts at $79/month.

• Free trial for 7 days is available.

11. Upwave

Upwave Instant Insights stands out as a top-tier analytics and market research software designed to gauge the impact of your brand's advertising endeavors. Utilizing its integrated dashboard, you can meticulously monitor each campaign's performance across diverse channels and fine-tune strategies for enhanced return on investment (ROI).

Key Features

• Monitor and enhance brand advertising efforts for increased brand recognition.

• Access real-time insights on campaign performance, enabling timely optimization.

• Receive email notifications with updated reports delivered to your inbox.

• Automatically track diverse demographic and behavioral profiles within each campaign.

• Assess the precision of each campaign's reach across multiple channels.

• Craft custom dashboards to oversee campaign performance.

• Harness the power of Upwave Customer Forecast, an AI-driven feature predicting brand uplift and customer acquisition for your campaigns.

Pricing

• Contact their sales team for pricing information.

12. Loop11

Loop11 stands out as an exceptional market research tool and user experience testing platform due to its specialization in usability testing and user research. This platform empowers businesses to gain deep insights into the user experience of their digital products, whether it's a website or an app.

With features like remote testing, heatmaps, task analysis, and feedback surveys, Loop11 provides a comprehensive toolkit for understanding user interactions and preferences.

Key Features

• Conduct usability testing for websites and apps to identify user experience issues.

• Reach participants globally and collect customer feedback from diverse user demographics.

• Data visualization through user interactions with heatmaps to pinpoint areas of interest or concern.

• Evaluate user performance by tracking task completion and navigation patterns.

• Facilitate teamwork with features for sharing projects, notes, and insights.

• Generate comprehensive reports with actionable market insights for data-driven decisions.

Pricing

• Starts at $199/month.

• Free trial is available for 14 days.

13. Userlytics

Userlytics stands out as a highly effective market research tool, particularly in the realm of user testing. This platform facilitates remote usability testing, making it effortless to align products with the specific preferences and needs of the target audience. Userlytics sets itself apart through its ability for collecting data from participants and engaging live conversations for in-depth market research, eliminating the need for time-consuming personal interviews.

Key Features

• Choose from a wide range of testing options, including tree testing, card sorting, prototype testing, and more, to tailor research according to your objectives.

• Utilize these tests to identify the ideal product-market fit, assess product performance, and delve into comprehensive market research.

• Multiple question types, branching logic, multi-language support, and task customization to create precise research tasks.

• Built-in targeting options to pinpoint the right audience for your tests.

• Picture-in-picture recording to observe participants' task performance.

• Comprehensive dashboards offering insights like NPS scores, time spent on tasks, and success/failure rates, facilitating data-driven decisions.

Pricing

• Starts at $49/participant

• Custom pricing is available on request

14. NeilsenIQ

Neilsen IQ stands as an exceptional market research tool, offering a comprehensive suite of solutions for businesses to thrive in the evolving consumer landscape. Its strength lies in its ability to provide real-time market intelligence, enabling companies to adapt swiftly and constantly perform competitive analysis to stay competitive.

Key Features

• Access a wealth of consumer data, including purchasing behavior, preferences, and trends, to shape your marketing and product strategies.

• Media analytics to measure the impact of advertising campaigns across various media channels.

• Predictive analytics to anticipate trends in market, making proactive decisions to stay ahead of the competition.

• Digital measurement to analyze media performance and understand consumer interactions in the online realm.

• Perform custom research projects to your specific needs, obtaining insights for your unique business challenges.

• Access data and insights from a wide range of global markets for a comprehensive view of consumer behavior across regions.

Pricing

• Contact the sales team to get pricing information.

15. BuzzSumo

With its comprehensive content analysis capabilities, BuzzSumo helps users identify trends, uncover competitive intelligence, and track the performance of their own and competitors' content across various digital and social media monitoring platforms. It simplifies influencer discovery and outreach, making it easier to engage with key players in your industry.

Key Features

• Perform content research and identify emerging trends in the industry.

• Analyze the content strategies, performance, and critical data points of your competitors.

• Influencer discovery in your niche to collaborate with.

• Real-time alerts about mentions of your brand or relevant keywords.

• Monitor backlinks to improve your SEO and content strategy.

• Track social media engagement for content performance evaluation.

Pricing 

• Starts at $199/month.

Top Free Market Research Tools

When seeking cost-effective solutions for market research, several free tools can be valuable resources. These tools offer essential features and insights without requiring a financial commitment. Here are some free market research tools that can help you in conducting the research.

16. Social Mention

Social Mention is a valuable market research tool that provides insights into the online sentiment and perception surrounding your brand, products, or topics of interest. This tool allows you to monitor social media platforms and websites to track mentions, comments, and discussions related to your keywords or brand.

By analyzing sentiment and reach, Social Mention helps you to understand how your target audience perceives them and their industry.

Key Features

• Real-time social media monitoring

• Multichannel insights from various platforms like Twitter, Facebook, Instagram, and more.

• Sentiment analysis for brand mentions to understand the overall sentiment (positive, negative, or neutral) of discussions related to the brand or keywords.

• Trending topics and keyword discovery.

• Hashtag performance tracking.

• Brand monitoring for proactive engagement and reputation management.

• User engagement capabilities.

• Exportable data and reports.

17. Google Trends

Google Trends serves as a dynamic market research tool that uses the power of Google's search data to offer real-time insights into consumer interests and trends. It allows you to gauge the popularity of specific keywords and topics over time, helping to identify emerging market trends and customer preferences.

By providing data on regional interest, related queries, and trending topics, Google Trends aids in market segmentation and targeted marketing efforts.

Key Features

• Access real-time and up-to-date search data.

• Analyze search trends globally or focus on specific regions and languages.

• Compare the popularity of multiple keywords or topics.

• Visualize data with interactive graphs and maps.

• Search term frequency to know how often your queried term appears in Google searches relative to the total search volume within a specific timeframe.

• Graphical representation for search trends for enhanced clarity.

• Supports surveys on various devices, including mobiles, tablets, and computers.

• Seamless integration with popular tools like Zapier, Automate.io, and Integromat.

• Generates well-structured data in Google Sheets, ready for presentation without the need for manual adjustments.

18. Think With Google 

Think with Google offers a wealth of insights and data-driven content that can empower you to gain a deep understanding of consumer behavior, industry trends, and emerging market dynamics. Through a wide array of articles, reports, and case studies, it provides market researcher and businesses with the information needed to make informed decisions, refine their marketing strategy, and stay ahead in the ever-evolving digital landscape.

Key Features

• Conduct a comprehensive site audit for your domain, receiving tailored recommendations to enhance site speed, user experience (UX), and other vital aspects.

• Gain access to trend data and actionable consumer insights tailored to specific geographic locations, empowering you to make informed marketing decisions.

• Stay ahead of the curve by tracking emerging technologies, allowing you to strategically plan for the future of your marketing campaigns and product offerings.

• Benchmark your website's performance against industry standards with a straightforward test and perform competitive analysis within your sector.

• Utilize Google Trends to explore trending topics, discover the latest stories, and uncover hot subjects relevant to your industry or niche.

19. Census Bureau

The United States Census Bureau is a vital and comprehensive market research tool that provides an extensive range of demographic and economic data about the U.S. population. It conducts periodic censuses, surveys, and data collection to gather information on various aspects of society, including population size, age, income, education, housing, and economic activities.

By leveraging the Census Bureau's census data, you can make informed decisions about product development, marketing strategies, market segmentation, and location-based planning.

Key Features

• Access detailed demographic information about the U.S. population

• Explore economic indicators such as employment rates, income levels, business statistics, and industry-specific data.

• Utilize geographic data and mapping tools to analyze market trends and consumer behavior at various geographical levels, from national to local.

• Access historical data to track changes in consumer behavior and market conditions over time.

• Create custom reports and data visualization to focus on specific market segments or research objectives.

• Use the Census Bureau's data tools and APIs to extract and integrate data into your own research and market analysis processes.

20. Answer the Public

Answer The Public is a popular online market research tool that bridges the gap between what the customers are looking for and what content or solutions you can provide through questions and topics. It essentially generates visual data representations of the most common queries people have related to specific keyword searches or topics.

Key Features

• Generates content ideas and topics by visualizing search queries.

• Offers valuable insights into what questions and topics interest your target audience.

• Provides data on search volume and related keywords for each query.

• Allows for keyword export and integration with other popular SEO tools.

• Helps in content creation and optimization by addressing user queries effectively.

21. Pew Research Center

A great free market research tool that can help you understand your target market through a wide range of subjects, from economic trends to positive and negative sentiments and social media behaviors, the Pew Research Center website offers a wealth of free research resources to enhance your understanding of your target audience.

What makes it even more valuable is the presence of interactive articles that enable you to refine and explore the data for detailed and targeted insights.

Key Features

• Provides a wide range of free, in-depth research reports and data on various topics.

• Offers valuable insights into social, political, and demographic trends.

• Covers a vast array of subjects, including technology, religion, economics, and more.

• Presents data through interactive articles, charts, and graphs for easy understanding.

Conclusion

The effectiveness of market research tools and services lies in their ability to assist you in achieving your objectives efficiently. From identifying market opportunities and testing product concepts to measuring customer satisfaction and tracking brand awareness, market research tools play an important role in allowing you to adapt and innovate in a rapidly changing marketplace.

For creating a market research survey, it is important that you leverage an omnichannel survey software that enables you to create impactful surveys, share them across multiple channels with your target customers, and gather and analyze valuable feedback using reporting features.

Sign up for free with Zonka Feedback if you're seeking to conduct market research surveys seamlessly and see how it works for your business.

FAQs

1. What is a market research tool?

A market research tool is a versatile platform that assists in gathering, analyzing, and interpreting data related to a specific market or industry. These marketing tools come in various forms, such as reporting tools, survey tools, and social media analysis tools, enabling businesses to make informed decisions.

2. Why is it important to do market research?

Market research is crucial for your businesses because it empowers you to understand your audience better, create impactful marketing campaigns, and develop products or services that drive long-term profitability. Without data-driven market insights though, decision-making becomes riskier and less efficient. Market research provides the confidence needed to take impactful steps in business. Tools like Zonka Feedback offer access to relevant data through surveys, simplifying the market research process.

3. What is the best tool for market research?

The best tool for market research depends on your business's unique requirements and objectives. It's essential to choose a tool that aligns with your desired outcomes and allows you to make informed decisions. Whether it's survey tools, data visualization tools, or trend identification tools, the best one helps your business achieve its full potential.

4. Are market research tools worth the cost?

Yes, market research tools are worth the investment when chosen wisely. They provide valuable insights into your audience, competition, and market trends. These insights help mitigate risks, enhance profitability, and inform strategic decisions. Many tools like Zonka Feedback offer time-saving features, such as automated workflows and data analysis, optimizing resource allocation.