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In this post, we will check out the top 10 best market research tools in 2023.
Market research is an essential component of any successful business strategy. It provides valuable insights into customer behavior, market trends, and the competitive landscape.
In today’s fast-paced and highly competitive business world, companies need access to reliable and efficient market research tools to make informed decisions and stay ahead of the competition.
Fortunately, there are many market research tools available in 2023 that can help businesses gather and analyze data effectively.
These tools range from simple survey platforms to complex analytics tools that can provide in-depth insights into consumer behavior, competitor analysis, and market trends.
In this article, we will discuss the 10 best market research tools that businesses can use to gain valuable insights into their target markets.
These tools have been carefully selected based on their effectiveness, ease of use, and affordability. Whether you are a small business owner or a large corporation, these market research tools can help you make informed decisions and grow your business.
10 Best Market Research Tools 2023
Semrush is a tool for competitive research. It provides information on keywords, backlinks, traffic, and more. Use it to find competitors, track keywords, analyze backlinks, and much more.
Semrush is a powerful and versatile suite of marketing tools that will help you find the right keywords for your website, learn which keywords your competitors are using, discover new link-building opportunities, and much more.
The tool can help you find profitable niches in seconds, find low-competition keywords to target with SEO and PPC ads, dig deep into your competitor’s backlink profile, and much more.
Semrush is a comprehensive and powerful suite of marketing tools that give you visibility into your competitors’ top organic keywords, related long-tail keyword phrases, social media performance, and more.
With Semrush you can easily spy on your competitor’s backlinks and see what sites are linking to them. You can also find out if they are building any new backlinks. Semrush is number 1 in our list of top 10 best market research tools in 2023.
Some of the top features of Semrush are:-
- Position Tracking
- On-Page SEO Checker
- Organic Traffic Insights
- Site Audit
- Keyword Magic Tool
- Keyword Gap Analysis
- Keyword Overview
- Keyword Alert
- Domain Overview
- Traffic Analytics
- Link Building
You can use Semrush for free or switch to a starter plan for advanced functionalities which start at $119.95/month.
SimilarWeb is a web intelligence company that provides data on the digital space for companies, brands, and publishers. The company’s products are used by more than a ton of users around the world in different countries.
SimilarWeb was founded in 2007 by Or Offer in Tel Aviv, Israel. By 2009, Similarweb won the first Israeli SeedCamp, drawing the attention of international media and investors.
The SimilarWeb platform provides insights into the traffic sources and user behavior of any website. It also has tools to help analyze competitors’ marketing campaigns.
SimilarWeb offers Anonymous traffic data collection from Similarweb products installed on millions of devices, worldwide.
The company’s data is collected through its Chrome extension, which monitors users’ browsing activities and then collects metrics on various websites without requiring any additional software installation or plugins from the client side.
You can use Similarweb for free as they offer a free trial to test all their features. On the other hand, you have to go for a subscription for the advanced functionalities mentioned below:-
- Multiple users
- Global and country-level data
- Up to 3 years of historical data
- Industry analysis
- Company analysis
- App analysis
- Audience analysis
- Conversion analysis
- Segments analysis
- Excel export and dashboards
- API Access
Buzzsumo is a tool that allows you to find content that gets the most shares and helps you discover influencers. It’s excellent for finding popular content, or even just relevant content related to your audience.
Buzzsumo is one of my favorite tools because it allows me to look at what people are talking about, the most shared content on social media, and more.
Buzzsumo helps you find out what content is being shared in your industry. You can use it to see what content is being shared on social media, but also on blogs and news sites as well.
I like to use BuzzSumo when I’m looking for inspiration for blog posts, or if I want some ideas for new products that I could add to my store.
It’s also a great way to find influencers in your industry who have large social followings and see what they’re talking about on their blogs and social media profiles.
Buzzsumo has three main functions:
- Content Explorer – Find the top-performing pieces of content across social media platforms like Facebook, Twitter, and Google+ with this feature.
- Influencer Finder – Determine who is producing great work within your industry by using Buzzsumo’s search feature which shows the most shared links from people with similar interests as yours (i.e., if you are a baker looking for new recipes). Then contact these influencers directly to build relationships with them!
- Monitoring – monitors your competitors, brand mentions, and industry updates. Alerts ensure you catch important events and don’t get smushed under the social media avalanche.
You can use Buzzsumo, they offer a 30-day free trial. Their pro plan starts at $99 per month(Billed Annually).
4 Survey Monkey
Survey Monkey is a tool for creating online surveys and then collecting data. With SurveyMonkey, you can create surveys with a variety of question types, including multiple choice and open-ended questions, as well as scale questions that allow you to rate certain options on a sliding scale from one to ten.
SurveyMonkey makes it easy to share your survey with others, giving them access via a unique URL that they can distribute however they like—via email, social media shares, or any other channel they prefer.
Surveys created using SurveyMonkey are completely customizable according to the needs of the researcher; this means researchers can use different types of responses within each question depending on what information they want most urgently
SurveyMonkey also has an intuitive dashboard where you can see how many people have taken your survey so far as well as what percentage have completed each section of your survey (or left without completing anything).
This information will help guide future editing decisions and ensure high response rates—which means more accurate results!
It even delivers you with many pre-built survey templates and awesome features that help quicken up the entire process. Survey Monkey is number 4 in our list of the top 10 best market research tools in 2023.
Some of the top features of Survey Monkey are:-
- Survey Templates.
- Skip Logic.
- Real-time results.
- Custom reporting.
- Text analysis.
- Net Promoter Score.
- Answer Validation.
- Design Themes.
- Custom branding.
- Export Results to Excel and PDF.
you can use Survey Monkey for free or upgrade to the Pro plan which starts at $25 per month.
Qualtrics is a survey platform that’s used by many Fortune companies. It has built-in capabilities for setting up feedback, gathering results, and providing you with insights.
Using the tool, you can execute high-quality market research at a swift pace. Qualtrics takes care of all your client experience management needs from one single location.
From market segmentation to collecting customer feedback on new favors and products, Qualtrics allows you to do all this and more.
The tool also comes with multiple features that will help you conduct market research, collect feedback from the audience, analyze customer satisfaction levels, and much more.
Qualtrics has been recognized as one of the best software available in the market today. Let us take a look at some of its most important features:
User-Friendly Interface: One of the biggest reasons why Qualtrics has become so popular is because of its user-friendly interface. It is easy to use and you don’t need any special training or prior experience to get started with this tool.
Powerful Analytics: If you want to conduct market research, then Qualtrics is an ideal solution for you because it offers powerful analytics tools which can help you make informed decisions based on data collected from your customers.
Multiple Survey Types: You can choose from various different types of surveys which are useful for collecting feedback from customers about their experience with your products or services.
6 Google Trends
Google Trends is a tool that shows you how often a search term has been searched over time and in different geographic locations.
It can also be used to compare search terms, look for patterns and variations in search volume, and see which areas of the world are searching for specific topics.
This tool is great for market research because it allows you to see what people are searching for, which can help you understand what your customers want and need.
Here are some examples of how you could use Google Trends:
Find out more about your target audience by looking at their interests and behaviors online. You can see what they’re interested in and what kinds of things they buy online based on the keywords they’re searching for on Google.
Discover new markets by looking up how popular certain products or services are in other countries or regions. For example, if you’re an online retailer who sells products online worldwide, you could use this tool to find out which countries have the most searches for your product category or type of service so that you can market there too!
Statista is one of the most powerful sources of research available. Statista has an extensive library of statistics and market research data on consumer behavior, consumer purchasing power, and business and industry data.
The service is present in more than 50 countries, which implies you get a global data perspective.
The interface of this tool is easy to understand. You visit the site, type in any relevant topic or keyword for which you want to see stats, and Statista will do the rest.
With Statista, you can:
Discover what’s happening in the world of business and finance with the latest stats and graphs on key industries, markets, and economies.
Monitor your competitors’ performance by accessing the latest data on their sales, revenues, and profits.
Find out more about your target audience by accessing statistics on their demographics and behavior. Statista is number 7 in our list of the top 10 best market research tools in 2023.
WPForms is a free WordPress form builder plugin. It allows you to create and embed user-friendly forms on your website, allowing users to sign up, subscribe and purchase products with ease.
The drag-and-drop interface makes it easy for you to create complex forms without writing a single line of code.
WPForms also comes with built-in form analytics that allows you to track how many people have submitted the form, how long they took to do so, and the number of fields each person filled out before submitting their information.
This feedback can help you improve your marketing campaigns by making adjustments based on what types of information are required for each step in the process (e.g., if most customers don’t want any shipping options).
Growthbar is a free tool that helps you to understand the competitor, their strategies, and keywords. This market research tool can help you with SEO, SEM, and Facebook advertising, and improve your chances of gaining new customers.
You can dab into your competitor’s social signals, best performing keywords, top ranking keywords, top paid keywords, backlink data, Facebook ads insights, and so much more.
Ttest this tool free, then it costs $29 per month for advanced functionalities. You can gain an understanding of your competitors:
- social signals
10 Brand Mentions
You may have heard of Brand Mentions. Brand mentions is a tool that lets you see how many times your brand is mentioned online.
This can be used to find out what people are saying about your brand, and also for finding out what people are saying about your competitors.
The tool is a great way to see how many people are talking about your product, whether it’s on social media platforms or in more traditional forums like blogs and news sites.
It can help you keep track of mentions of your brand or product on social media platforms like Twitter, Facebook, and Instagram as well as websites with comments enabled (including this one).
It also allows you to monitor what customers are saying about your business through reviews posted online by customers who use products or services offered by companies like yours!
Ahrefs is a well-known SEO tool and market research tool. This tool was created to help you find the best keywords for your website or blog. You can use this tool to find the best backlinks and competitors’ backlinks.
You can use it to find the most popular keywords, keywords that have low competition, keywords that have high search volume, keywords that have high CPC, etc. It also provides data about search volume for any keyword you enter in its database.
Ahrefs also provides a list of backlinks for any given site or page on the internet. This list can help you find out which websites are linking to your competitor’s website and what anchor text they are using.
This information can be very useful when trying to create a link-building campaign for your own website or blog.
It gives you a list of the most popular content on their site, which you can then repurpose in order to rank higher than them in Google search results.
This is especially useful if you have an eCommerce site and are looking to generate more organic traffic by taking advantage of your competitors’ successes.
Ahrefs will let you know what they’re doing right so that it doesn’t take long before your business starts getting more traffic than theirs did! Ahrefs is number 11 in our list of 10 best market research tools in 2023.
12 Google Analytics
Google Analytics is a free website measurement tool that you can use to monitor the performance of your website, app, or other digital presence.
Data from Google Analytics can be used to determine what content is most popular with visitors, which channels are driving traffic and conversions, where users are dropping off in the conversion process, etc.
The information that you collect with Google Analytics helps you improve user experience by optimizing content for different devices and platforms and identifying trends in how people use your products or services.
Google Analytics offers several features that make it easy for you to track the performance of your website:
Real-time reporting: Track visitors as they happen on your site with real-time data.
Site overlay: See where people are clicking within the pages on your site with this visual overlay feature.
Custom dashboards: Create custom dashboards with all of your favorite reports in one place for easy access at any time. Google Analytics is number 12 in our list of 10 best market research tools in 2023.
13 Formidable Forms
A Formidable Form is a great tool for collecting data from your users. It’s easy to use, and it’s easy for your users to understand the form. You can swiftly create complicated form solutions with its help.
- Use form templates to get started quickly and then customize them to fit your needs.
- Turn your forms into automated quizzes with all the grading done for you.
- Convert your forms into complete quizzes
- Create surveys and polls in a few clicks and get results fast
The pricing for this market research tool starts from $39.50.
Gartner is an American research and advisory firm providing insights into industries. It’s a great way to determine trends in your industry, fix gaps in the market, and find other insights to power your business.
One of the most favored offerings is Magic Quadrant, which allows you to identify industry trends, gaps in the market, and much more.
There are different other reports too like the Critical Capabilities report that compares contending products and services against each other.
You’ll also discover data analysis and visualization tools to provide you with an insightful understanding of your market. Gartner is number 14 in our list of 10 best market research tools in 2023.
NielsenIq is a tool that delivers retail and consumer insights to help the growth of your company.
You get entrance to product forecast metrics which will enable you to indicate how well your products will peddle. It will also help you decide which channels to disperse your products.
- Conduct a market research survey on NeilsenIQ’s list of partners.
- Form ideas for your target keyword’s long- and short-tail variations.
- Observe the statistics for each keyword.
- Watch the top pages for any desired keywords.
You can ask for the Price through their website.
There are a lot of great market research tools out there that can help you find and analyze data to make better decisions. Some are good for small businesses, others for large businesses.
Some are especially suited for specific industries, while others have a more general focus. Still, others have been designed to meet the needs of individual researchers rather than entire teams or organizations.
Some market research tools are meant primarily for gathering data from external sources (such as social media, news outlets, and government databases), while other tools focus on internal surveys and analytics solutions.
At the end of the day, there’s no one tool that will solve all of your market research problems. A tool like Google Analytics will help you gain insights into who is visiting your website and what they do when they get there, but it won’t tell you why those people came or whether someone else might be doing something better than what you have now.
Buzzsumo can help with finding out which content performs well on social media but not necessarily why it does so. So while we hope this list has given you some new ideas for how to use these tools (and others), our most important takeaway is that if you want quality answers then always keep in mind that no single tool will give them all—and never forget how important intuition is when making decisions!
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