Top 10 Market Research Tools For Small Businesses

November 20, 2018 - 9 minutes read

In today’s world, market research is an essential element to identify the problem areas in your business, understand the needs of your customers, and to make well-informed decisions.

Due to constant change, knowing what is relevant to your audience can keep you ahead of competitors and help bring in new customers.

With the right tools, you can easily analyze the market and growth of your business. Here’s a list of 10 small business market research tools you can use to conduct innovative market research.

SimilarTech

SimilarTech is a sales insight platform which tracks technology adoption and usage in real-time. The tool provides business insights through web crawling and you can use it to spot trends, research markets, and generate leads and prospects. The technology provides insights on three separate levels: you can list the technologies a website uses, track and provide detail on an individual technology, and track entire category of technologies. They offer 2 types of plans. A basic monthly starter plan at $299 a month and a tailored premium plan designed to meet your individual needs.

CallHub

CallHub is a cloud telephony company building voice and text outreach tools for businesses. You can use the text messaging tools to run successful SMS marketing campaigns and track and measure campaign progress from the analytics dashboard. CallHub also lets you create marketing surveys to obtain feedback on new products, services, and features. The surveys can help you with brand tracking, content creation, measure the appetite for an existing or a new product or service you’re designing, and understanding user experience. You can visit the pricing page to receive custom pricing.

Heap analytics

Heap analytics is a tool used to track customer data. It captures all user interactions and analyzes them without the need to ship code or wait for data. The platform is easy to install and use. Once the code is installed on your website, you can monitor clicks, page views, gestures, form submissions, and more. The tool is loaded with powerful features, including data capture, event visualizer, user search and interactions, and funnels. It has three pricing plans: the starter pack is free, the lite pack is at $299, and the enterprise pack is priced based on usage.

Locowise

Locowise is a social performance measurement tool for small businesses. With Locowise, you get better insights into your social media communities and get accurate data to make informed decisions. You can use the competitor benchmarking feature to peek at your competitors’ social numbers, allowing you to see what worked well for them and use top posts as inspiration for your content. The tool is loaded with over 200 metrics, charts, and custom filters, allowing you to use in-­depth reports. The price ranges from $55 to $500+.

Sisense

Sisense is a business intelligence software that makes it easy to instantly reveal business insights from complex data. You can join, analyze, and picture out information that is required to make better business decisions and craft out workable plans and strategies. It is highly flexible for any business size, ranging from startups and developing enterprises to Fortune 500 companies. With Sisense, you can gather information from all sources and unify them into a single, accessible repository, produce intelligent analysis using visual reports without going through the hassle of preparing and sharing insights with your team, partners and clients. You can visit the pricing page to receive custom pricing.

Other popular tools for market research are listed below:

SurveyMonkey

SurveyMonkey is an online survey development software company which provides free, customizable surveys, and a suite of paid programs that include data analysis, sample selection, bias elimination, and data representation tools. In addition to providing free and paid plans for users, SurveyMonkey also offers services like brand management and consumer-focused marketing for small businesses. You can use it to capture the voices and opinions of the people who matter most to you and transform prospects into lifelong customers. SurveyMonkey offers a free account and three paid options ranging from $34 to $99 per month.

Moz

Moz is a SaaS company based in Seattle. It sells inbound marketing and marketing analytics software subscriptions. Moz offers SEO tools that include keyword research, link building, site audits, and site optimization insights. The keyword research tool provides keyword suggestions, SEO competition, SERP (search engine results page) features, saved lists, and accurate search volume data. These tools help you have a better view of your company’s position on search engines and how you can improve your site’s ranking. Moz offers a free account and four paid options ranging from $20 to $200 per month.

Typeform

Typeform is a cloud-based survey management software solution that specializes in online form building and surveys. It offers survey design, configuration, distribution, and analytics within a suite. The form can be embedded into a website, distributed using on-site pop-ups and push notifications, or can be accessed through a unique URL. Apart from this, you can send results to your MailChimp list or Google Sheets with native integrations. Typeform offers three plans— the free plan, the pro plan at $30 per month, and pro+ plan at $59 per month. This software has been used by Apple Inc., Airbnb, Uber, and Nike.

Hotjar

Hotjar is an analysis and feedback tool. It helps users improve their website’s performance and increase conversion rates. The tool lets you observe and measure the behavior of users while they visit your site and hear their opinion about your product. Apart from that, you can get detailed insights into the areas where visitors spend maximum time and capture visitor’s sessions when they hit the website. Hotjar has three pricing plans- the basic plan which is free, plus plan is for early-stage startups at $29 per month, and the business plan is for enterprise and SMBs and starts from $89 per month.

BuzzSumo

Buzzsumo is an online content-research tool that allows businesses to find popular content by topic or website. You can use this tool to find content that is shared the most on social media, influencers related to particular topics, and get alerts based on keywords, brand name, links, or author’s name. You can also track competitors, analyze their content and create alerts for trending articles. BuzzSumo has four pricing plans- $79, $139, $239, and $499+ per month.

Using tools for market research will help in the growth of your business and to keep a track of your customers’ needs, which can give your small business a huge edge over others. What are your favorite small business market research tools? Share them with us in the comments below!

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