Market Research Tools
Small, medium, new, or pending businesses need to be do market research every now and then. Why?
- without data it is just your untested opinion
- the survival and growth of every company is dependent on remaining relevant
- the right insights can optimize your current and future product offering
We all know the above to be true. So why don’t most companies invest in collating insights to drive informed and effective decision-making.
They think it’s expensive. It can Be.
However most research, can be conducted in-house by engaging consumers telephonically, analyzing numbers through published sources, and utilizing social media, like Facebook, to research consumer likes, dislikes and preferences. As well as referring to data and research that already exists.
We help our clients develop an ever-researching mindset. And frequently get asked about tools to help, without breaking the bank. We generally try to get our smaller clients into eve-researching mind set before they invest in expensive research marketing tools, and the list be below shows the some tools to assist, without breaking the bank.
| Purpose | App/Tool | CG2M View | |
|---|---|---|---|
| Data collection | Your website | Always be collecting user data and contact information along the way. That way, if you find people excited about your company, you can contact them later on when the product or service comes more into fruition. | Free |
| Competitor Research via Keyword Research | GrowthBar | If you are up against the big boys, you are probably not the first to as the question. GrowthBar will | ££ Free Trial Available |
| Google Adwords | See which keywords competitors are using to finetune their advertising. | Free | |
| Google Blog Search | Conduct keywords searches across the blogosphere to find out what topics are trending | ||
| Google Trends | See how topics of interest are trending nationally | ||
| See what topics are current and the Hashtags associated with them | |||
| Competitor Research via Social listening | AgoraPulse | We love multipurpose tools and use these 2 not just for social scheduling, but for listening too. | £££ |
| Loomly | £ | ||
| Socialmention | Probably our favourite: imply input a URL to perform a search to find out who is saying what about you - or your competitor And analyse the sentiment towards each search url online | Free | |
| Competitor Research via peer insights | Gartner | Gartner can provides insights into market segments and the main players in them | Free-££ Many Garter reports are free, the rest are only available to Gartner Clients |
| Data collection | Pew | Verified numbers and facts in the news | |
| Your website | Always be collecting user data and contact information along the way. That way, if you find people excited about your company, you can contact them later on when the product or service comes more into fruition. | Free | |
| Surveys | In-person | The easiest way to find out what existing customers want | Free -£££ In-person surveys can be free but it you are using a 3rd party do conduct them it can end up costing the earth as the may need to pay for the right respondents to participate. |
| Online Surveys | SurveyMonkey | The easiest way to find out what existing customers want Easy to create and answer questions on both PC and mobile Endless 3rd party integrations to adopt as your research need to develop | £-££ |
| LinkedIn & CheckMarket | (see Audience Extension below) | ||
| Polls | Google adds | ||
| Audience extension You have established clear goals and objectives for the research and understand the profile/personas you need to speak ask for introductions to warm things up consider these | Your clients | ||
| Your past Clients win/loss analysis | |||
| Your network | |||
| The use cases for LinkedIn as a Market research tool are endless. intros (from gaining insights from your connections-(clients, past clients & your network), to deeper insights from respondents filtered by title, seniority, function, age, country, company size, and other variables | Free-£££ | ||
| CheckMarket | CheckMarket enables Creation and sharing of a survey on LinkedIn by posting it in all relevant discussion groups, on your company page and your LinkedIn Inmail connections from a single UN | £ | |
| Ninety | |||
| Find my audience (on Think with Google) | You can have a good poke around without paying a penny. However, activating any of the audiences you build comes at a moderate cost. | £ We’ll match any amount you spend up to £ 120 when you run video ads for the next two weeks, using coupon code DEN4TNFVV7QRL6  |
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Winning companies invest time in market research:
Looking to expand into a new market or monitor current operations, testing out a fresh business opportunity, Join us on our Cheap and Cheerful MR workshop to understand how best to take advantage of these online tools, platforms, and information portals which you already have access to.
Compare multi-purpose Market Research tools here