Discovering whether a product will be useful before its launching is good for business. With the proper market research, one can determine the opportunity of the product. Before launching any product in the market, it is essential to find out with the help of a market research software if the product will perform well or not. A market research software aids the business in every crucial segment. From the inception of the product to the final stage and launch, market analysis software gives the best possible statistics. It helps the company to learn exciting trends, consumer behavior, and new business opportunity. It aids the company during a crucial time. Online market research software helps in collecting data to determine whether a particular product/service satisfies the needs of customers. An efficient market research software helps a business gain insights about current market trends, competitors, spending habits of customers and economic demographics. Now, every business has started implementing this software to carry out research. Look into SoftwareWorld's list of top market research software if you are planning on having the best one available in the market.
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List of Best Market Research Software | Top Market Research Tools
1. SurveyMonkey – Free online survey tool
About SurveyMonkey : SurveyMonkey is leading market research software where the user can easily conduct market research surveys. The user can comfortably reach to a specific audience through this software. The user can also research & analyze a target market, measure brand awareness, and easily gain insight into the future product through SurveyMonkey. It’s also a useful market research tool to compare the strategies with your competitors and for effective market segmentation.
SurveyMonkey Market Research Features : Data Management, Email / Online, Paper-Based, Statistical Analysis, Survey Management
“We use SurveyMonkey for a lot. Any time we need to quickly poll staff or clients – we quickly create and send a SurveyMonkey. We have even built the program into our regular processes – instead of collecting forms from multiple partners or organizations, we use a repeatable SurveyMonkey.” – Austin M.
501 – 1000
2. Alchemer – Make Smarter Decisions with the Word’s Best Survey Platform
About Alchemer: Alchemer (formerly SurveyGizmo) transforms customer feedback into operational gold to create customer-centric organizations. Alchemer provides a customer-experience platform and pre-packaged solutions that enable businesses to collect and act on feedback to find, get, and keep more customers and employees. Only Alchemer puts customers at the center of everything a company does by integrating feedback directly into the systems and applications that power the organization today. Alchemer serves more than 15,000 global customers and 30% of the Fortune 500.
Alchemer Market Research Features : Benchmarking, Compensation Management, Data Management, Email / Online, Face-to-Face, Panel Management, Paper-Based, Phone-Based, Sample Management, Statistical Analysis, Survey Management
“Alchemer is my organization’s main survey tool. We use it for our board of directors election, conference and webinar evaluations as well as consent forms for studies. The full suite of question types along with logic and piping make product a clear standout in the industry.” – Dustin D.
51 – 200
Not provided by vendor
3. Typeform – Make data collection an experience with custom forms
About Typeform : Typeform is a data collection tool where the user can turn data collection into an experience. The software offers refreshing ways to ask questions and fun way to get answers. The user can collect better data through the conversational feature. Typeform offers a user-friendly interface to the users. You can find different templates to boost your market research. It’s also a suitable option to integrate with the third-party software.
Typeform Market Research Features : Data Management, Email / Online, Survey Management
“I like everything. I like the integrations. I like the ease of designing templates. I like how changes can be viewed and made ad-hoc. I LOVE the logic jumps and how everything is laid out to make the process of creating a lead quiz or survey very straight-forward. I’m amped about Typeform!” – Sean P
51 – 200
4. Qualaroo – Online survey feedback tool
About Qualaroo: With Qualaroo, targeting the right audience, analyzing the market, and collecting feedback becomes super easy. Qualaroo’s list of professional templates has something for everyone, from e-commerce to educational technology companies. The surveys can be used for market research, checking NPS, prototyping, check CX and UX metrics and more on websites and apps with the option of advanced targeting to get accurate results.
Qualaroo Features: Survey Templates, Mobile iOS & Android, Nudge for Prototypes, AI Sentiment Analysis, Confirmation Page Surveys, Question Branching, NPS, Exit Intent Surveys, and A/B Testing
“We used the data to develop and completely redesign our branded landing page and validate our hypotheses. Qualaroo gave us a 16% lift in conversion at 98% statistical significance.” – Jaxon Lam
51 – 200
Yes, get a free trial
5. SurveyLegend – Mobile-friendly survey management platform
About SurveyLegend : SurveyLegend is the best mobile-ready free online survey app where you can easily conduct effective market research for your future products. The user can create engaging surveys on their tablet or computer with ease. You can find different themes for the survey as per your brand requirement. You can share your survey through email, facebook, twitter, blogs and with more ways to reach your audience. SurveyLegend also offers real-time data analytics to get real-time insights.
SurveyLegend Market Research Features : Data Management, Email / Online, Face-to-Face, Panel Management, Phone-Based, Sample Management, Statistical Analysis, Survey Management
“SurveyLegend makes it simpel to make an beautiful survey. You can use pictures and emojis to make it really interesting for the participants, and itworks well. Plus it is an easy tool to use, and if there are doubts they have a really good support system. Amazing and Easy survey tool.” – João Antonio B.
02 – 10
6. ProProfs Survey Maker – Online Survey Maker & Questionnaire Tool
About ProProfs Survey Maker : As a leading online survey creator, ProProfs Survey Maker allows business owners to capture customer/employee feedback that helps them improve their services for better future experiences. The survey maker creates scored surveys, NPS, popup, sidebar, in-app surveys, and other forms that make the feedback collection process simpler. It offers ready-made 100+ beautiful survey templates and more than 1,000,000 survey questions to help users kick-start their journey to create one for the brand.
ProProfs Survey Maker Market Research Features : Benchmarking, Data Management, Email / Online, Sample Management, Statistical Analysis, Survey Management
“ProProfs surveys are great for conducting market research. The instant analytics and reporting gave us detailed insights on our target audience. Get Real-Time Survey Analytics & reporting!” – Justin Fredericks
51 – 200
7. QuestionPro – Web-based online survey solution
About QuestionPro : QuestionPro is a web-based online survey solution for businesses where business owners or manager can easily conduct market research. QuestionPro is a free online survey software. It’s a fully automated software offers real-time insights. The user can use it as the best market research software where he/she can create online surveys, polls, questionnaires for market trends research and collect responses of the audience. The user can also easily analyze the result.
QuestionPro Market Research Features : Benchmarking, Data Management, Panel Management, Sample Management, Survey Management
“We have been utilizing Question Pro Surveys as a means to collect data for our department accreditation. The surveys are quick to put together and easy to execute. I am looking forward to learning more about the exciting new features.” – Arlisa G. Spaulding
201 – 500
8. SurveySparrow – Conversational survey tool
About SurveySparrow : SurveySparrow is a free online survey tool that converts your surveys into conversations. It’s market research software that helps users to create highly engaging surveys for business. This software will help business owners to fetch all the answers that business actually needs. The user can design the survey as per their brand need through this software. You can also find audience management, live preview, customization and rich analytics in SurveySparrow.
SurveySparrow Market Research Features : Data Management, Email / Online, Panel Management, Sample Management, Statistical Analysis, Survey Management
“Survey Sparrow is an innovative product that has an extremely bright future with its Road Map. The service has been World-Class. I highly recommend to anyone looking for a fresh method to gather intelligent data.” – Jignesh Pandya
02 – 10
9. Latana – Advanced Brand Tracker for Better Marketing Decisions
About Latana: Latana is advanced brand tracking for fast-growing consumer brands who want to make better marketing decisions. Despite companies spending more than one trillion dollars a year on marketing and advertising, they still base their campaigns on gut feeling rather than actual fact. That’s because they really don’t understand the impact their campaigns are having on their target audience.
Latana Market Research Features :Benchmarking, Data Management, Email / Online, Panel Management, Sample Management, Statistical Analysis, Survey Management
“Our marketing team continually log into Latana to check how Holvi is performing in terms of brand awareness in comparison to our competitors. The data really helps them grow Holvi.” – Jarno Nousianinen
11 – 50
10. Survicate – Where leading teams collect and act on customer feedback
About Survicate : Survicate is a survey software for collecting actionable feedback and researching customer experience across all digital touchpoints. Users can gather valuable insights and use them to improve their product, boost customer satisfaction, and grow their businesses. Survicate offers user-friendly interface and survey library with predefined survey examples which you can use to research your customers, leads, and website visitors faster. Survicate integrates directly with popular marketing automation platforms and CRMs, like Marketo, HubSpot, Intercom, Salesforce, Pardot, and many more.
Survicate Market Research Features : Data Management, Email / Online, Survey Management
“It’s amazing how many customers are responding to our surveys. For every dollar we spend on a Survicate subscription, we generate about $25 in additional revenue.” – Michael
11 – 50
11. SurveyLab – Survey software and questionnaire tool
About SurveyLab : SurveyLab is a professional and powerful survey software. The system is easy to use and has reach reporting and data analysis functionalities. It can be integrated with various tools including Salesforce, Zendesk, Slack, LiveChat and many more. The software supports all type of devices and can be accessed from anywhere irrespective of location. SurveyLab has dedicated customer support and can be customized on-demand to meet various business needs. SurveyLab also supports Multilanguage surveys and automatically detects browser language settings.
SurveyLab Market Research Features : Compensation Management, Data Management, Email / Online, Panel Management, Paper-Based, Statistical Analysis, Survey Management
“The survey was easy to create. The reports are easy to use. The support team is helpful and responds fast. They can provide their own panel of respondents which was extremely helpful. We had a theory regarding our product and needed to conduct a survey to prove it right or wrong, The results were very, very helpful.” – Kirill L.
02 – 10
12. Voxco Survey Software – Flexible online survey software
About Voxco Survey Software : Voxco Survey Software is a flexible survey tool; its multichannel survey software for data collection and you can use it at any place, any time. The user can comfortably conduct market research and social & public opinion research through this software. The user can manage face-to-face interviews, panel management, phone-based interview, Emails and much more through Voxco Survey Software. You can also find statistical analysis through Voxco.
Voxco Market Research Features : Benchmarking, Compensation Management, Data Management, Email / Online, Face-to-Face, Panel Management, Phone-Based, Sample Management, Statistical Analysis, Survey Management
“Promark currently operates 350+ stations stratified throughout five call center facilities. Voxco’s Multi-Mode has enabled us to operate and manage our facilities as a single virtual call center. The survey software is powerful and resilient and can keep up with the demanding load we place upon the system.” – Steve Werner
51 – 200
13. QuickTapSurvey – In-person Surveys, Mobile Forms & Kiosks
About QuickTapSurvey : QuickTapSurvey is an offline survey app; the user can capture data from anywhere with ultimate surveys and mobile forms. The user can comfortably create mobile forms to conduct market research and even it’s also a useful option to collection customer feedback through customer feedback surveys. The user can also use this market research software to capture leads for business. You can easily take action with QuickTapSurvey insights.
QuickTapSurvey Market Research Features : Benchmarking, Data Management, Email / Online, Face-to-Face, Panel Management, Paper-Based, Phone-Based, Sample Management, Statistical Analysis, Survey Management
“We used paper surveys in the past, but they were extremely difficult to manage on-site, not to mention time consuming because of all the data re-entry on Excel. We were very lucky to find QuickTapSurvey when we did.” – Irene Seijo
11 – 50
14. MediaRadar – Media ad sales intel for ad sales professionals & agencies
About MediaRadar : MediaRadar is a sales enablement platform and its customized solution for media, ad tech, and agencies to close more deals. MediaRadar is Saas software provides you real-time advertising insights. The user can find and know that who makes buying decision and win more business through MediaRadar. You can find the most relevant data, advice and insight to increase your business through MediaRadar. Benchmarking, data management and statistical analysis are the crucial features of this software.
MediaRadar Market Research Features : Benchmarking, Data Management, Email / Online, Face-to-Face, Statistical Analysis
“MediaRadar is a powerful tool that we use to stay on top of advertisers and their activity across all magazines. I love the tear-sheeting, monthly page count by advertiser, visuals of creative, and positioning.” – Terry Alvar
201 – 500
Not provided by vendor
15. Dub InterViewer – Data collection software for market research
About Dub InterViewer : Dub InterViewer is a data collection solution that provides users with face-2-face, telephone and internet market research using a single platform. It is an online Cati/Capi/Wapi system that combines centralized management and distribution of surveys. Alongside traditional media, Dub InterViewer also enables users to deliver surveys to mobile devices via a browser or through the Nabu native apps for iOS and Android. Nebu Dub InterViewer offers its users the most flexible and robust data collection tool on the market. Choosing Nebu Dub InterViewer means benefiting from 25 years of Nebu’s experience in developing and implementing solutions for fieldwork and marketing research companies.
Dub InterViewer Market Research Features : Benchmarking, Compensation Management, Data Management, Email / Online, Face-to-Face, Panel Management, Phone-Based, Sample Management, Statistical Analysis, Survey Management
“I’ve been using Nebu now for several years and until now I haven’t been limited to any market research project, that we’ve hosted for our clients. One of the advantages of the software is the philosophy behind the company, which is the slogan “evolving with you”. This basically means if you have a great idea or wish to improve the software, this gets developed at no costs!” – Navid T.
11 – 50
Get Quick Comparison of Top 10 Market Research Software
|Market Research Features||SurveyMonkey||Alchemer||Typeform||MediaRadar||SurveyLegend||QuestionPro||SurveySparrow||Survicate||SurveyLab||Voxco|
|Price||$26.00/month||Not provided by vendor||$35.00/month||Not provided by vendor||$19.00/ month/user||$12.00/ month/user||$19.00/ month/user||$49.00/month||$19.00/month||$300.00/year|
|Email / Online|
Market Research Software Buyer's Guide
When you are launching a new product, there is always a 50-50 chance of its survival post penetrating the market. If it gets released at the right time with the potential to address the changing needs of customers beautifully, it can even replace an existing monopoly easily. On the other hand, if the same product is launched without bringing crucial factors such as the current market economy, taste of buyers, and competitor strategies into consideration, it is bound to stumble and tumble. With that being said, it has now become imperative to have detailed market research in order to take calculated risks. That’s possible when you have the right kind of market research software by your side to do the needful.
» What is Market Research Software?
Market analysis software works as a data collector tool that flawlessly executes market analysis prior to your product launch to enable you for taking actionable measures. Market research survey software targets the right kind of audience, ask them the right kind of question and gather crucial insights by various market analysis tools that help you come up with an ideal product for the market. It not only helps you identify new customers for your product but also helps to understand the existing ones better. The raw data collected by market research platform are transformed into refined data that can be used by you to steer your marketing strategies better.
» How does Market Research Software work?
As it major works revolves around collecting insightful market data, it offers smart pre-designed customizable survey formats that can be used by your marketing team at any moment. Conditional based questionnaires ask only what’s relevant based on past responses. In order to make the participants feel special, it creates personalized surveys instead of following the ‘one-size-fits-all’ strategy. It sets to date, time and frequency to channelize the surveys and set email reminders to urge people for taking down the survey.
» Is it worth investing money in Market Research Software?
As of now, you must have realized that it does a number of manual tasks by its own through market research tools. That simply states that it can replace two-three people from your office that too for a reasonable subscription fee. Its work simply does not end at displaying survey forms to the audience; through various online market research tools, it constantly follows them via Email, embedded feedback widgets, and mobile texts to grab their attention until they take down the survey. Imagine the kind of consequences you need to face when your product will fail to impress customers owing to poor market research. Can you afford the same? If the answer is a no, then give the best market research software a try without giving any second thought.
» What are the features of Market Research Software?
The task of researching profitable opportunities for the business is indeed a tough nut to crack for the marketers. Moreover, they also have to ensure that they don’t repeat their past mistakes. In such cases using the market research software is indeed the best option. The software helps the marketers gain a deeper insight into the market conditions. For better understanding, let’s study the numerous features of the software which makes the task possible.
› Researching Tools
The market research software leverages various tools and both fundamental as well as applied research to detect the market conditions. These data are then uploaded and stored in the company server automatically without any user interference. Moreover, by using this software one can also detect the various underlying issues of the company and resolve them in real-time.
› Statistical Tools
If you are trying to get a tentative figure of the pertaining market conditions, then the analytical tools of the software can come to your help. The market research software uses tools like percentages, ratios, averages, z-test, t-test, etc., to provide with the current data. Furthermore, the data collected gives an in-depth analysis of the software users.
› Co-operative Tools
Imagine if all the approved members of your team could see and get notified in case any changes are made to the data, it will surely be an add-on to the work efficiency. It is possible by using the market research tools as they enable the users to edit, comment, or share the files without any issues. Through this, the software also reduces the risk of loss or unauthorized mutilation to the information.
› Managing of Social Media Platforms
The online market research tools are also capable of gathering data from social media platforms like Facebook, Linkedin, Twitter, Reddit, or more. Using the acquired information, the users can find out the efficiency of the platforms. Similarly, it also helps the users to understand how the customers behave on their media platforms and how it can be transformed to have more maximized profits.
› Report Tracking
Apart from the features mentioned above, the market research tools also provide reporting and analytics tools which can be used by the companies to understand the alignment of the customers. This data is collected by tracking the online behaviour of users which provides useful insights on various points, such as pain points, factors to improve existing marketing conditions, and many more.
› Centralized Storage
As discussed in the above points the primary motive of the online market research tools is to gather, record, and store data in a single storage. When stored centrally, it facilitates the users to retrieve the files when needed quickly. Moreover, it also helps in providing a secure atmosphere for the gathered data to be kept.
» What are the benefits of the Market Research Software?
In earlier times, the companies and businesses had to go through a lot of turmoil if they wanted to research the existing market conditions. It was because the traditional methods used to take much time and were also prone to various risks. However, nowadays the benefits of using the market research software out pars the conventional processes. So, let’s start by looking deep into the numerous benefits of the software.
› Professional Development
If your company is facing some issues in regards to the customer’s viewpoints, then taking the help of the market analysis software can be of use. Using the insight on the pertaining conditions the companies can invest more in creating consumer-centric approaches. It will help in creating a steady increase in traffic inflow for the business.
› Expanding business horizons
Imagine if you can gain a wider audience by increasing your brand value, won’t that be an exciting add-on to your achievements? In such cases, the market analysis software can come in handy. It is possible to cater to a global audience using the software, as it consists of many facilities and tools which helps in doing so. Similarly, this also helps in the pro-active gathering of members, partners or stakeholders for the company.
› Multiple Target Platforms
No matter what type of marketing processes your company follows, the market analysis software can help you achieve profitable results. Supporting both b2b and b2c operations the software offers even the slightest bit of marketing insights to its users.
› Panel Management
As the software is entirely focused on reporting the customer approach to the company, it does so by automatically recruiting panel members. Similarly, to ensure efficient panel management the users can also add rewards to their panel list. Generally, the prizes are offered to the users during specific achievements in the polls and surveys.
› Tracking Real-time Price changes
Product-based companies can take the help of the market research analysis tools to detect real-time price changes of their competitors. The software offers accurate real-time data by comparing it with several companies. Afterward, this information can then be used to set a clear pricing strategy while providing top-notch products. Similarly, when compared to the conventional methods, the benefit of the software weighs out more.
» Before choosing the Market Research Software
The drive towards hiring the market research analysis tools has been picking up acceleration since the launch of the software. However, before subscribing to the software one must decide if the software will accelerate the market research process or will delay it. For finding the conclusion, one should follow the below-mentioned steps to ensure that they are treading on the right path.
› Acquiring the right knowledge required to target market
In such cases, the first and foremost step will be to find and understand the needs of the customers. Until and unless the marketers correctly understand it, developing service will merely be a waste of resources. Hence, one must first research their audience’s needs, rather than investing in the market research survey software.
› Segmenting the Market
It is not always possible to serve the whole market with your product, hence segmenting them to a smaller one can fix the issue. Thus, it is still advisable to extract one’s target market by studying the various aspects of the customer. The characters include social, cultural, personal, and psychological needs of the customers. Afterward, the company can focus on manufacturing, pricing, and distributing the product to its target audience.
› Formulating 4Ps marketing strategy
Every marketing company’s primary mission is to achieve the 4Ps- Production, Pricing, Promotion, and Place. Before you hire the software to complete your daily chores, it is essential to prepare a plan on how to formulate the 4Ps for better results. This can be done by holding a meeting and discussing the plan’s strengths and weaknesses.
› Running calculations to arrive at the right figure
No company or business can ignore the importance of a well-maintained budget. Hence, one must be careful enough to decide the amount the company can afford behind the market research survey software beforehand. It will help in cutting down the worries; thus, the company will not have to restrict the budget for other company affairs.
» How to choose best Market Research Software?
Every software developing company preaches its software to be the best market research software available in the market. But going through shallow claims and no definite proof can increase the chances of being tricked. Hence, on this list, we have put together several points which will help you to make the wise decision for your company.
› Advanced Analysis Tools
If you are going to invest in the best market research software, then choose the one which will provide advanced analysis tools. The tools include predictive modeling, perceptual mapping, segmentation, machine learning, visualization, amongst others. Hence, no matter what type of analysis the company makes, the software will be able to provide its expertise.
› Integration with Multiple Platforms
Although CRM plays a very crucial role in the dashboard and online reporting, many companies also use MS Office and Displayr. Thus, the market research platform must have in-built compatibility with multiple platforms to streamline the reporting process. Moreover, it also helps in automating most of the repetitive tasks without user interference.
› Crosstabs Builder
Another important feature which should not be ignored while looking for the best market research software is the ability to generate crosstabs. Generally, marketers store customer information in large reports for easier retrieval. Similarly, the software should also be able to create the crosstabs within no time as speed and efficiency are also required for the execution of the tasks.
» Questions to ask a vendor when buying best Market Research Software
1. Will your market research software help identify the target audience?
2. Does the system include the creation of questionnaires for market research? Will it be an easy process?
3. How does the sharing of market research questionnaires work?
4. In what ways does this solution gather data?
5. Can the system transform the collected data into useful information?
6. Does the solution include benchmarking capabilities?
7. Is there a way to manage compensation?
8. Will the software include panel management functions?
9. Can the system simplify the management of paper-based market research?
10. Does this solution support phone-based research?
11. How does the system’s statistical analysis feature work?
12. Is there a survey builder to get a kickstart to the procedure?
13. Will the software allow me to conduct A/B testing?
14. How does the process of managing survey samples work?
15. Is it possible to define user roles to restrict access to specific data?
16. What kind of analytics and reports will this market research software generate?
17. Is switching between different tasks within the software simple enough for everyone?
18. Can I integrate this system with other third-party tools?
19. What kind of security standards do you employ to ensure data safety and privacy?
20. What will be the training period?
21. What is the process of software implementation?
22. Which support services are I entitled to receive after the purchase?
23. What are the available channels to contact your support team?
24. Are there any hidden costs?
25. Is the software easily scalable to meet the increasing future demands?
» How much does Market Research Software cost?
The pricing structure is one of the significant aspects of the market analysis tools which makes it different from one another. Depending upon various facilities, one can find the lowest software plan to be $7/month which can also reach up to $199/month based on the facilities and tools availed. However, no matter what is the pricing plan of the software, the most important thing is that one should always initially subscribe to the free basic version of the software. It will help in gaining a complete understanding of the working of the market research platform. Afterward, if interested, then you can go with the premium plans as desired.
Having market research analysis tools by your side assures you of taking calculated risks which saves your money from getting wasted on failed experiments. However, it is also essential to choose the best market research tools available in the market; otherwise, the loss figure will include software subscription fees in it towards the end.
Related Software Categories
» Survey Software - Best survey software takes you to the place where it has gathered data. You can easily paste the same wherever you want and help you to reach your targeted respondents. These tools have many appearance options, and you can choose the one that suits you well.
» Business Intelligence Software - Business Intelligence Software is also popular as BI Software; it’s really booming industry in the market and this is a really suitable thing to understand the dentition of smart work. It’s not about to do hard work to improve your business, it’s all about to do smart work for business development.
» Data Analysis Software - The best data analysis software will prevail your data to go through the processes of cleaning, being properly inspected, going through a transformation, and coming up with conclusions of the goals you set by you. It helps you in decision making by making everything crystal clear and crisp.
» Data Visualization Software - Data visualization tools enable you to analyze data in a simpler format. It helps in making complex and unmanageable data easier to handle with the help of dots, lines, bars, or charts. Within the realms of visualizing data, tables are used mostly to be able to look into specific measurements.