5 of the Best Tools for Market Research

Market research is essential if you are starting a business or starting a new product, resource, or location. You have to see if there is an opportunity for your idea or product if you have an exclusive store and if there is demand for it.

This seems obvious, but those who have a vision and want to follow their instincts, instead of collecting data, are often overlooked. People are irrational optimists, market leaders, on the one hand, and responsible for countless failures, on the other.

  1. Awario: understand the popularity and reputation of your competitors on social media and calculate the vote for your brand. Awario (developed by my company) is a social listening tool that checks social media, news, blogs, forums, and the web for the mention of a specific keyword. This is a great help if you want to know more about the market and its competition. 2. Pew Research Center: to collect data about your target audience.
  2. The Pew Research Center website has free downloadable research articles that you can use to understand the life and personality of your target audience, from using social media to political views. You can find information that you may not have even thought about before opening the database. The elegant user interface and interactive graphics make the process easy and even fun.
  3. CLARITAS: to collect even more information about consumer behavior. You can never have too much data in market research. Claritas is a Nielsen product and is a large database of consumer information. His original research helps marketers understand consumer preferences and buying patterns.
  4. MakeMyPersona: to create a copper person.

MakeMyPersona at HubSpot is a simple tool that generates buyer characters after answering a series of questions about your ideal customer. It helps to summarize customer profiles and identify their behavior. The tool is very useful for marketers who have already researched and understand their target audience but need a more detailed understanding of their buyer’s personality.

  1. SurveyMonkey: To understand consumer preferences.

There is no market research without research and focus groups. Performing a search may seem like an easy task, but it is not and you need a tool like everything else. SurveyMonkey is probably the most popular survey tool and its popularity is well deserved. Easily create in-depth surveys that help you understand the market and consumer preferences.

Market research is impossible without the right tools. They save time, money, and happy nights at the bar. But it is also important to plan and set priorities. We hope the list above will help you understand which answers you need first and the tools you can use to get them.

Most of the tools listed here are free or have an economical option; so try as much as you like and then determine your list of needs.