For every business, gauging consumer behavior and understanding market demographics plays a vital role for developing an effective traditional and digital marketing strategy. While some companies are able to allocate a large chunk of their budget on extensive market research, others rely on online market research tools and platforms for utilizing the power of consumer attributes the right way. Whether a business is launching a new range of products or services or is simply expanding its venture globally, the importance of market research remains unmatched in each situation.
Several online market research tools for professionals available today help businesses in brand management, keyword research, market research and opportunity seizing. These not only help in saving costs but also take advantage of their online presence to focus more on enhancing social media marketing tactics for different brands. Since navigating through a large amount of data can be tedious and cumbersome, these tools integrate essential data into reports and infographics. Let us take a look at some of the best online market research tools for professionals available.
1. Google Trends
Google trends is one of the most popular online market research tools for professionals available as it allows users to research about their target market through relying more upon keywords, phrases and subjects searched for by their target market over a specific period of time.
- Application: By conducting an analysis of Google searches, Google Trends analyzes searches made online and delivers regular information that is updated on a real time basis. With its explore option, it provides users with the latest trends from across the world on its homepage itself.
- Ease of Use: With a simple and easy to navigate user interface, it makes website navigation easy even for beginners. With no sign up required, it is easily accessible and provides an opportunity to marketers to capitalize on current trends and increase the awareness of their brand.
- Key Feature: Its Graph Explorer option allows users to analyze their own terms and keywords to see the engagement that they have generated including news headlines. It also breaks down the facts into regional interests, search terms, etc. which can be used by users to alter them as per their needs.
- Pricing: Free.
Read in detail about keyword research, in our blog: A QUICK GUIDE FOR SELECTING THE BEST KEYWORDS FOR SEO.
Statista is one of the best online market research tools for professionals as it provides multiple reports for searched terms which can be used for researching competition and gauging the market competition. The reports also provide information related to industry sizes, average expenditures done by companies etc.
- Application: With datasets of over 600 industries including gaming, social media, apparel, e-commerce, etc. the tool provides charts and infographics besides hard data to help marketers understand it and use it easily for any market analysis.
- Ease of Use: With its search engine feature, it provides data from different opinion research institutes as well in languages like English, French, German and Spanish. It also provides general insights and statistics on what is trending in the market and gives marketers data that can be utilized by them as per their specific needs.
- Key Feature: The information sourced by Statista comes from credible sources from across the world. The editorial team feature works on providing customizable content to users and helps them in integrating it in their workflow. The statistics are also downloadable in all common formats.
- Pricing: The tool provides a free version with limited features, while the premium version costs $49 per month.
3. Think with Google
Think with Google is one of the most popular online market research tools. It provides archives to users in the form of free reports and publications on a diverse range of topics. By allowing users to either search a particular industry or a platform, it lets them respond to ever changing market trends effectively.
- Application: From high level insights to ready-to-use statistics and information, this tool helps marketers to integrate digital campaigns across diverse platforms and audiences. By providing real time data on consumer preferences and searches, it helps markets to gauge what trendsetters are working across the globe.
- Ease of Use: Think with Google lets its users discover valuable data on consumer insights to alter their campaigns in sync with what their customers want with the help of regularly updated blogs, tools and ideas. Through the Insight Library feature, users can search, discover and interact through the stories posted on the platform.
- Key Feature: The tool has a unique Creative Sandbox feature that allows users to integrate creativity and technology for targeting their customers better. Through an excellent display system, it helps marketers to browse through multiple industries and see what creative ideas are being used by companies to create an impact on their customers.
- Pricing: Free. Only requires a subscription.
Read about the essential free blog marketing tools that you need, in our blog: ESSENTIAL FREE BLOG MARKETING TOOLS THAT YOU NEED.
4. Social Mention
Social Mention is a real time search platform as it helps users to keep themselves updated about social media trends on a day to day basis. Using user generated content from over 80 social media platforms, it keeps marketers aware of what different brands are up to and what content is generating engagement.
- Application: Laying major emphasis on real time social media research, the tool helps marketers understand what type of content is keeping their target audience engaged online. By conducting an extensive keyword analysis, the tool shows a comprehensive list of social media posts that are incorporating the keyword, along with related keywords and other suggestions or insights.
- Ease of Use: The platform also plays a key role in brand management as it conducts a sentiment analysis on target audiences to see the reactions that specific campaigns are getting online. With an in-built email system, it further helps its customers to share result reports with individuals and teams.
- Key Feature: The tool offers a daily media alerts notification feature that informs users about the usage of their campaigns or keywords globally. By scouring various videos, images, blogs, etc. across diverse channels and social media platforms, the search engine measures the range of influence for target audiences effectively.
- Pricing: The platform offers a free plan and paid plans in 3 domains- Solo, Pro and Enterprise.
By effectively utilizing the power of the above mentioned online market research tools, marketers can quickly and efficiently gauge the minds of their customers and can focus their products, services and campaigns in that particular direction. Through smart market research, brands can hit the jackpot while minimizing costs and maximizing their revenue and profit. So, boost your marketing campaigns and give your brand a 360 degree turn with effective market research tactics and best online market research tools.