Market research is a critical component of any marketing campaign. This is especially true if you’re a small business or want to grow your company. Market research can help you uncover insights about your industry, competitors and customers that will allow you to more effectively market to them.
It’s important to note that not all market research tools are created equal and some are better suited for certain types of information than others. In this article we’ll break down six different kinds of market research tools so that you know which one(s) might work best for your situation:
Google Trends is a free service that allows you to see how often a search-term is entered relative to the total search volume across various regions of the world, specific categories and time frame. You can also see whether search volume increases or decreases over time.
The data is aggregated from Google users’ search behavior, so it’s an accurate representation of what people are looking for. You can view Google trends on the web or use it to set up alerts and get email notifications when there are significant changes in search volume over time.
Survey Monkey is a tool for creating surveys, polls and questionnaires. You can use this to conduct market research by asking your target audience questions about their preferences or behaviors.
Survey Monkey is free for basic use; however, if you want more advanced features such as exporting data from your survey results into an Excel spreadsheet and adding images or videos to the survey questions then there are paid plans available starting at $19 per month (for up to 500 responses per month).
AYTM is a market research tool that allows you to quickly and easily find the best questions to ask your audience. You can use it for your own business, marketing campaign or if you’re working with an agency like ours, we’ll use AYTM as a way of getting insight into how people feel about your brand.
In addition to helping us understand what people think about our clients’ brands–and how they compare with competitors–AYTM also helps us uncover actionable insights that make it easier for us to develop effective messaging strategies and write copy that resonates with customers.
You can use BuzzSumo to find out what content is popular in your industry. For example, if you’re in the travel industry and want to know which articles are getting shared the most on social media, use BuzzSumo to search for “travel.” Then see which sources have created the most-shared content on Facebook and Twitter.
You can also use this tool as part of your competitive analysis by searching for competitors’ names or brands and seeing what they have been doing with their content marketing efforts.
Quora is a question and answer site where people can ask questions about any topic. The community on Quora is very active, so it’s a great place to find out what people are thinking about your topic.
People on Quora are often experts in their field, so they can provide actionable insights into how you can improve your product or service. You can also use Quora if you want to build up your network by connecting with influencers in your industry who could help promote your business once they know more about what it offers..
Reddit is a community of online users who post links to content on the internet. The Reddit community can then vote up or down on that content, and add comments. Reddit is divided into subreddits, which are topic specific communities that all have their own rules and guidelines.
Reddit has been used by marketers for many years now for marketing campaign because it’s easy to use and has a large audience, but it’s also important to note that there are some downsides as well:
- You’ll need to know how best to navigate this site so you don’t get overwhelmed by its sheer size (there are over 1 million subreddits).
- You may find yourself spending more time than anticipated reading through threads before finding anything actionable or useful for your business goals
These Market Research Tools Will Help You Make Better Marketing Decisions
Market research tools can help you uncover actionable insights that will help inform your marketing decisions. Whether you’re trying to find out what people are talking about, what they think of your brand or competitor brands, who their favorite influences are and more — these market research tools will provide the answers.
As you can see, there are plenty of market research tools out there. And while all of them have their strengths and weaknesses, the fact remains that they can all be useful if used correctly. We recommend trying out all six of these options at least once to see which one resonates with your brand’s needs best–and then building from there!