Reducing your time to revenue.

Reducing your time to revenue.

Market Research Tools

by | Aug 24, 2020 | Uncategorised | 0 comments

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. 

Market Research Tools

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.

PurposeApp/ToolCG2M View 
Data collectionYour websiteAlways 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 ResearchGrowthBarIf you are up against the big boys, you are probably not the first to as the question. GrowthBar will££
Free Trial Available
Google AdwordsSee which keywords competitors are using to finetune their advertising.Free
Google Blog SearchConduct keywords searches across the blogosphere to find out what topics are trending
Google TrendsSee how topics of interest are trending nationally
TwitterSee what topics are current and the Hashtags associated with them
Competitor Research via Social listeningAgoraPulseWe love multipurpose tools and use these 2 not just for social scheduling, but for listening too.£££
Loomly£
SocialmentionProbably 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 insightsGartnerGartner can provides insights into market segments and the main players in themFree-££

Many Garter reports are free, the rest are only available to Gartner Clients
Data collectionPewVerified numbers and facts in the news
Your websiteAlways 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
SurveysIn-personThe 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 SurveysSurveyMonkeyThe 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)
PollsGoogle 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
LinkedIn 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-£££
CheckMarketCheckMarket 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

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