There is a growing demand for market research software. More than doubling in size from 2008 to 2021, the market research sector brought in over $76.4 billion worldwide in 2021, and it’s easy to see why.
Market research software makes it easier to track consumer behaviour and find out what they want. Market research is a powerful tool for businesses of all sizes—it helps them stay ahead of the curve and get ahead of the competition. But how do you know which market research software is right for your business?
There are many different kinds of market research software, each with its benefits and drawbacks. Some of them are more complex than others, which might make them more difficult for some users (especially if you don’t have a background in computer science). Others are more streamlined but may not offer as much flexibility or customization options as others do.
But we’ve got good news: this article will take an in-depth look at some of the best market research software right now, so you can see which one is right for you!
But before we get into that, let’s define market research.
What Is Market Research?
Market research gathers and analyses information about consumers, competitors, and markets. Market research involves surveys, interviews, focus groups, observation and other techniques to investigate the needs and preferences of potential consumers. It is important to determine how companies can better serve their customers.
Market Research Software is a tool market researchers use to collect and analyze data related to a company’s target market. The software allows users to collect data from various sources, such as demographic, psychographic and behavioural data, organizational structure and financial information.
7 Best Market Research Software
Research is one of the most important parts of any business, and market research software can help you get the information you need. This includes everything from customer satisfaction to product development, so having access to data is essential to keeping your business running smoothly.
A good market research software can help you uncover insights about your market that may not be obvious at first glance. These insights can help you improve your product or service offerings, which leads to more sales, greater profits and happier customers!
The following seven market research software tools are some of the most popular today. Learn more about each one below:
1. Speak Ai
Researchers in several fields utilize Speak Ai to speed up the transcription process, conduct in-depth analyses, and publish their findings faster. Speak Ai is a powerful AI-driven platform that lets you manage and analyze your complete media library with automatic or human transcription.
Focusing on the most important aspects of your study while utilizing Speak’s platform will help you save time and money, enhance your analytical process, and get your work published more quickly.
- Top Features:
- Speak AI is most effective for qualitative and mixed-methods research.
- The platform uses natural language processing (NLP) to understand human language, which allows it to produce high-quality responses in seconds.
- Capable of generating transcriptions from all audio and video files or URLs.
2. Qualtrics CoreXM
Qualtrics is one of the most popular choices among businesses today regarding market research software. It’s an easy-to-use tool that has been around for over ten years now and has been helping companies improve their marketing efforts for just as long. The platform allows you to quickly create surveys and polls and collect responses from customers who have already given their input on other topics. You can also use Qualtrics to store data and track people’s opinions about different products or services in your industry.
- Monitor brand recognition with the use of analytical AI dashboards.
- Determine which factors contribute to favourable and bad brand impressions among your consumers.
- Create a system of automatic notifications to monitor shifts in brand signals or consciousness.
- Conduct polls and gather information for market research.
3. Survey Monkey
Another great survey creation tool is SurveyMonkey, another favourite among businesses today. This platform allows you to conduct surveys online through their website or mobile apps on smartphones and tablets, making it easier for people to take part in your survey. It also comes with an intuitive dashboard that makes sharing findings with others in your organization easy.
- Expertly crafted database of questions for doing rigorous research.
- Use of individualized survey methods
- Analytical AI for crowdsourcing human input on survey design.
- Maintaining the integrity of information from more than 144 million people worldwide.
The leading platform for competitor and keyword research, SEMrush is a comprehensive suite of tools covering all the bases. It’s especially useful for those who don’t have a lot of time to spend on analysis, as it has a variety of ready-made reports and a host of other data that can be used to get up to speed quickly.
SEMrush Pro also provides valuable insights into organic search trends over time, allowing you to see how your site has performed compared to others in your industry.
With services like Search Engine Optimization, Pay-Per-Click Advertising, Social Media Marketing, Keyword Research, Competitive Analysis, Public Relations (PR), Content Marketing, and Marketing Data, this software primarily aims to increase online visibility.
- Easy tracking and management of organic activities.
- Offers resources for content advertising, production, dissemination, and enhancement.
- Compatible with several well-known Google and social media platforms.
5. Type Form
Typeform is another online survey tool and market research software that lets you run market research surveys and obtain instant feedback from your target audience. There are several design templates and a media library for importing photos and videos. Typeform’s primary objective is to help users design appealing forms that will attract more answers and provide deeper insights.
- Displays form fields sequentially for the user.
- Conveniently designed for usage on smartphones.
- Permits you to make many different styles of questions.
When it comes to market research and data visualization, Statista is among the best tools available. It gathers information from reliable reports that can be found all over the web and organise it so that it is simple for researchers and others. It can locate the data relevant to your sector and compile it into a readable statistical report.
- Capability to filter material based on a certain category.
- Ability to personalize graphs and select from hundreds of available metrics.
- Ability to conduct market research in over 150 countries with relative ease.
7. Google Keyword Tool
The Google Keyword Tool is an incredibly advanced market research software and analytic tool that provides insight into customer behaviour through their internet search habits. If you use the Google Keyword Tool, you can find exactly what your target audience is searching for.
As a reliable market research instrument, it provides insight into what consumers want. One must sign up for a free Google Adwords account before using it.
- Displays the total number of times that a particular term was typed in.
- Provides the option to restrict keyword searches by country and language.
- Allows you to narrow your results by the type of device your users utilise.
- Aids in developing both a content strategy and a marketing plan for marketers.
Enhance The Level Of Your Market Research By Making Use Of The Best Market Research Software
Ultimately, it’s all about finding your business’s best market research software. Speak Ai is one of the most powerful tools out there. If you’re looking for a tool to help you get even more out of your market research efforts and make them more streamlined and efficient, then Speak Ai is worth checking out!
You may now join the over 7,000 people and teams across the globe that use Speak Ai as their main tool for analyzing market research trends for their company. This is your one chance to acquire a trial or schedule a demo to see how this can improve business processes.