Market research tools have come a long way. The innovation of these tools have made the arduous task easier and more seamless. This blog tackles identifying the best market research tools for your business and how to efficiently use them.
But first, let’s cover the basics.
What is Market Research and its importance?
A process of gathering information to improve, evolve and craft products and services that your customers both need and want. Without proper market research, you’d end up spending your company’s capital in wrong places.
Market research allows you to understand your customer’s behaviour, your competitor’s best practices and deduce marketing channels to grow your business.
To reap the full benefits of market research, you can leverage on the following tools for your company.
Best Tools for Market Research
This is an online tool that enables you to gather real-time social media data on any site. By typing the website’s URL, the tool pulls all the social media mentions related to that site.
Tool Strengths:
A tool that gathers direct customer insights. You can create a survey or set of questions that are best answered by your customers to understand lead generation, conversion rates and customer retention rate.
Tool Strengths:
Although its entirety is not technically a wider tool in market research, Google Analytics can provide your customers behaviour whilst on your website. It shows which products are viewed most and it also illustrates what social media channels your customers are responding to.
Tool Strengths:
Perfect market research tool because it provides instant access to your competitors critical data points and their growth channels as well keywords that are working for them by giving you SEO, SEM, and Facebook advertising access.
Tool Strengths:
Great Tool, Great Team
Having the right tool for your Research and Data Team is vital to help them accomplish their tasks easier and quicker. By doing so, your business’s overall efficiency and productivity can also increase. By having the right tools, it allows your R&D team to produce the most usable research that your company can benefit on.
But dealing with these tools can be overwhelming. Building a team of R&D experts and training them on utilizing these tools births another layer of operational responsibility especially and deviates your focus on your core responsibilities. In addition, there is a limited pool of talent in the research and data industry and the number of highly qualified candidates are in return shrinking.
One way to overcome this is by finding the right outsourcing partner who has access to world-class R&D talents who can equip and certify your team to put these tools to good use. The tools mentioned above along with other market research tools can also be expensive and can potentially break your bank. But with the right partner, you can save up to 70% on operational costs, yet assuring your team’s efficiency and productivity.
Partnership with Infinit-O
Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.
We can build you a great, high-performing R&D team:
Let’s work together to build a great Research and Data Team.
Start small. Exceed expectations. Think infinitely. Think Infinit-O.
Market research tools have come a long way. The innovation of these tools have made the arduous task easier and more seamless. This blog tackles identifying the best market research tools for your business and how to efficiently use them.
But first, let’s cover the basics.
What is Market Research and its importance?
A process of gathering information to improve, evolve and craft products and services that your customers both need and want. Without proper market research, you’d end up spending your company’s capital in wrong places.
Market research allows you to understand your customer’s behaviour, your competitor’s best practices and deduce marketing channels to grow your business.
To reap the full benefits of market research, you can leverage on the following tools for your company.
Best Tools for Market Research
This is an online tool that enables you to gather real-time social media data on any site. By typing the website’s URL, the tool pulls all the social media mentions related to that site.
Tool Strengths:
A tool that gathers direct customer insights. You can create a survey or set of questions that are best answered by your customers to understand lead generation, conversion rates and customer retention rate.
Tool Strengths:
Although its entirety is not technically a wider tool in market research, Google Analytics can provide your customers behaviour whilst on your website. It shows which products are viewed most and it also illustrates what social media channels your customers are responding to.
Tool Strengths:
Perfect market research tool because it provides instant access to your competitors critical data points and their growth channels as well keywords that are working for them by giving you SEO, SEM, and Facebook advertising access.
Tool Strengths:
Great Tool, Great Team
Having the right tool for your Research and Data Team is vital to help them accomplish their tasks easier and quicker. By doing so, your business’s overall efficiency and productivity can also increase. By having the right tools, it allows your R&D team to produce the most usable research that your company can benefit on.
But dealing with these tools can be overwhelming. Building a team of R&D experts and training them on utilizing these tools births another layer of operational responsibility especially and deviates your focus on your core responsibilities. In addition, there is a limited pool of talent in the research and data industry and the number of highly qualified candidates are in return shrinking.
One way to overcome this is by finding the right outsourcing partner who has access to world-class R&D talents who can equip and certify your team to put these tools to good use. The tools mentioned above along with other market research tools can also be expensive and can potentially break your bank. But with the right partner, you can save up to 70% on operational costs, yet assuring your team’s efficiency and productivity.
Partnership with Infinit-O
Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.
We can build you a great, high-performing R&D team:
Let’s work together to build a great Research and Data Team.
Start small. Exceed expectations. Think infinitely. Think Infinit-O.