7 Top Marketing Research Tools for New Business

Research is a must before doing anything big, like starting a new business. Without proper research, you may do the wrong thing. That's why it's important to do market research to find out about trends, potential customers and their preferences. Doing this manually can be overwhelming, so use market research tools to do it.   

There are both paid and free tools to conduct research. However, the free tools may have some limitations. So it is important to choose the research tool based on your needs and budget.    

7 Top Marketing Research Tools  

These are the best marketing research tools that can help you collect and analyze the data and insights: 

1. Statista 

Statista aggregates data from reputable reports across the web and makes it digestible for marketers. Say goodbye to digging through multiple websites until midnight.  

This data visualization site allows you to spot trends by displaying charts. No worries because these charts are always updated as the years go by. So you can quickly analyze and make decisions.   

As for the pricing, this tool offers several packages, both the free (limited visual options) and the paid version. The paid version starts at USD 39/month. 

2. BuzzSumo 

You can use BuzzSumo for website and social media research. It helps you analyze over 8 billion articles and 300 trillion social engagements. So you can see the trending topics and type of content and find influencers to promote your product or service. 

You can also do in-depth research on your competitors. In addition, this tool also simplifies the monitoring process by allowing you to set up alerts to monitor mentions of your brand, product or specific topic. BuzzSumo is available in free and paid versions starting at $119/month.        

3. Think with Google  

This free research tool provides interesting insights into what product to launch, what market to launch it in, and what retail category is on the rise. 

Think with Google curates resources from various websites and presents them as simple insights. However, the data is not provided in real-time.  

In addition, it also provides Find My Audience feature, which helps you to study your audience and the interests of potential customers. So it is very useful not only for your product launch but also for your content creation.

4. Claritas MyBestSegment

Gone are the days of creating manual survey forms as this product research tool helps you understand an area's demographics and lifestyle habits. 

You can find the best area for a launch or campaign, the location of nearest competitors and current lifestyle trends. This tool can provide basic information about the segmented audience, such as: their lifestyle characteristics, household income and employment levels.     

Claritas MyBestSegment is available free of charge. However, if you need much more detailed data, you can contact the sales team and ask for pricing. 

5. NielsenIQ

This retail and consumer intelligence tool helps you gather insights about potential customers, identify the best distribution channels, and create a product range based on the needs of your target customers. 

It can provide forecasting data to predict about your sales at launch and also insight surveys on your list of partners. The pricing is vary based on your requirement.   

6. Loop11 

This user experience testing platform is essential if you want to test your website. You can test the usability and study the user intent on different devices. 

In addition to finding out if your website is easy to use, you can also identify the obstacles that prevent conversions. This is especially important if you plan to sell products or services through your website. The price starts at USD63/month.  

7. Brand Mentions 

As the name suggests, this social media monitoring platform helps you understand what your potential customers are talking about online. It also helps you search for a keyword and shows you recent social media posts that mention your keyword or brand. 

You can also get sentiment analysis on the keywords and other metrics such as: reach, performance (engagement) dan number of mentions. This way you can find out how people feel about your product, service or campaign and refine your campaign tone. Pricing starts at USD99/month. 

These best marketing research tools will help you conduct proper research before, during and after a launch. Choose the right tool based on your needs and budget.