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EthOS is an innovative Human Insights Platform that’s revolutionizing the way companies understand customers and their experiences. We empower UX, CX, and Insights teams with advanced tools to capture omnichannel touchpoints, providing real-time insights...Read more about EthOS
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Zoho Survey is a cloud-based 360-degree feedback surveying solution that caters to small, midsize and large organizations. The solution offers templates and a library of questions to create custom surveys. Survey creators can also customize themes to match...Read more about Zoho Survey
XEBO.ai platform offers users a variety of experience management products to investigate and analyze their business and take decisive actions. XEBO.ai is a cloud-based CX platform that offers features for data collection, benchmarking, customer recovery, ...Read more about XEBO.ai
Typeform is an interactive data collection tool that lets you create forms, surveys, and quizzes that people enjoy answering. By asking questions one at a time, you get more thoughtful responses and higher completion rates. Plus, Typeform’s conditional log...Read more about Typeform
Kantar Marketplace is an agile market research software designed to help insight-seekers and marketing agencies collect feedback from consumers. The platform enables users to screen and test ads in real-time to better understand impact and optimise spendin...Read more about Kantar Marketplace
SurveyAnalytica is a research platform that allows users to create and analyze surveys. The platform provides tools for businesses, organizations, and researchers to build surveys that match their specific needs. Users can design surveys with a personali...Read more about Survey Analytica
BrandMap is an on-premise solution that helps researchers utilize data from other applications and spreadsheets to design presentation-ready maps and charts. It allows users to create perceptual, biplot, correspondence, or multi-dimensional preference maps...Read more about BrandMap
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SourceScrub is an investment management software designed to help businesses analyze key metrics including the number of employees, leadership team members and website traffic to connect with privately held companies. The platform enables administrators to...Read more about Sourcescrub
SurveyJS is a set of UI components that fully integrate in any JavaScript application; it allows you to set up a robust form management system with user access control where form creators can build, style and modify unlimited number of forms in a drag-and-...Read more about SurveyJS
Voxco Online is multichannel survey software for data collection any place, any time. The solution is made for (and by) professional market researchers. Users can drive survey efficiency with a powerful questionnaire editor that allows an engaging loo...Read more about Voxco Online
Startquestion is a professional survey software designed to help businesses of all sizes, freelancers, nonprofits, educational institutions and more create online questionnaires for researching employees, clients and community. Key features include email m...Read more about Startquestion
QuestionPro is a leading SaaS survey solutions company providing a wide range of applications to measure and manage customer experience, employee engagement, and the pulse of the audience. We offer 40+ question types, 350+ ready-made survey templates and...Read more about QuestionPro
Tremendous is a US-based fintech company founded in 2010. Our mission is to help businesses pay anyone in the world, easily and instantly. Thousands of businesses worldwide have sent millions of payments using Tremendous. Tremendous is the easiest way to ...Read more about Tremendous
Tango’s mission is simple: We make gift cards easy to send and awesome to receive. By bundling easy-to-use technology, desirable incentives, and expert service, we help companies get the most out of their reward and incentive programs—from customer acquisi...Read more about Tango
Zonka Feedback offers feedback forms and customer satisfaction surveys in various formats, such as on a tablet or on a kiosk, designed for companies to gather and analyze the data. The solution can be utilized by hotels and other hospitality businesses, sp...Read more about Zonka Feedback
SurveyLab is a cloud-based survey solution that caters to businesses of all sizes across various industries. It enables users to build satisfaction surveys, conduct market research and gather employee feedback. SurveyLab offers built-in survey templates t...Read more about SurveyLab
ATLAS.ti facilitates analysis of any kind of qualitative data, including text, images, videos, audio, survey responses, geo-data, notes from Evernote, articles from bibliographic reference managers, Tweets from Twitter and comments from social media posts....Read more about ATLAS.ti
XM for Strategy & Research is a cloud-based platform designed to help organizations generate sales insights and optimize product prices through analysis of customer experiences in real-time. Key features include feedback collection, concept testing, produc...Read more about XM for Strategy & Research
MakeOpinion is a market research platform that bridges the gap between companies and their customers around the world. The platform acts as a bridge between your company and its clients or potential customers. Make Opinion converts questions to better insi...Read more about Make Opinion
Qwary is a market research software designed to help businesses in the healthcare, education, hospitality, retail and other sectors share surveys to collect feedback. The platform enables managers to utilize built-in templates and preview mode to create an...Read more about Qwary
Nextiva brings customers and teams closer by connecting conversations in one AI-powered platform. We connect businesses to all of their conversations, helping them understand their customers in real-time to create personalized experiences that set them apa...Read more about Nextiva
Feedly helps people cut through the noise to find the information they need. Millions of people use Feedly, including thousands of leading businesses and security firms such as Airbus, Delta Dental, and Cloudflare. Feedly Reader is a tool for individuals...Read more about Feedly
Tracksuit is a cloud-based platform that assists businesses of all sizes with brand tracking and measure brand health and marketing ROI. With Tracksuit's dashboard, marketers can measure various metrics and measure, evaluate and communicate regarding bra...Read more about Tracksuit
Quizell is a polling software that helps businesses create and distribute product quizzes to gain insights into data about customers, facilitating an increase in consumer base and profits. With Quizell, customers are greeted with a product recommendation q...Read more about Quizell
Indeemo is an in-the-moment, Experience research platform for MR, UX and CX. We help researchers and designers to remotely research human needs, behaviours, journeys and experiences; in context and in-the-moment. By blending the best of mobile, video, ...Read more about Indeemo
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Your Guide to Top Market Research Software, April 2024
Software Advice uses reviews from real software users to highlight the top-rated Market Research products in North America.
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“Usability” includes user ratings for Functionality and Ease of Use.
“Customer Satisfaction” includes user ratings for Customer Support, Likelihood to Recommend and Value for Money.
Reviews analysis period: The reviews analysis period spans two years and ends the 15th of the month prior to publication.
Buyers Guide
This detailed guide will help you find and buy the right market research software for you and your business.
Last Updated on March 16, 2023Market research software helps businesses understand market trends and customer behavior. It’s a data collection tool companies use to identify their target audiences, assess competition, gauge demand for their products or services, and take feedback from prospects.
If you’re looking to purchase market research software, this guide is your one-stop solution. It explains software features and benefits as well as the various factors you must consider to make a smart purchase.
Here’s what we’ll cover:
What is market research software?
Market research software is a data collection tool that lets businesses check if the product or service they’re planning to launch will be received well by customers. It helps manage the various steps of the market research process, from setting the research panel and identifying the target audience to collecting data and reporting on the collected data. The software also allows companies to identify what is or isn’t working well for their existing products and make changes accordingly.
Common features of market research software
Most market research software tools offer the following features:
Multichannel distribution | Collect metrics such as product viability data, product usage data, and customer behavior data from multiple channels, including email, web, and social media. |
Reporting | Use visualization to organize the collected research data and identify relevant data points related to market trends, business opportunities, customer choices, and more. |
Survey builder | Create and run surveys to collect feedback from target audiences and analyze their responses. You can customize the question types, images, branding, and more. |
Benchmarking | Use the collected data to compare your business processes against those of prominent industry players, identify gaps, and plan growth or improvement tactics. |
Panel management | Conduct and manage panel discussions with relevant, qualified target market research groups. Recruit, segment, and maintain research panels to gain insights into products, services, or market trends. |
Statistical analysis | Apply statistical models to the data collected from research studies to summarize, analyze, and draw inferences from it. |
What type of buyer are you?
You should choose a market research tool that aligns with your industry of operation and intended application. That said, most buyers can be divided into the following broad categories:
Retail businesses: Retail companies conduct market research regularly to keep track of changing customer preferences and market or competitor trends. They should opt for market research software that provides real-time reporting to measure audiences’ responses to products or services and to assess the impact of marketing decisions. Survey builder, multichannel data collection, and benchmarking are some features that would suit the needs of these buyers.
Professional services firms: Professional services firms such as advertising and accounting agencies use market research software to formulate branding or marketing strategies, understand target market trends, and more. These buyers should look for a market research tool that can build customized surveys based on data objectives such as client satisfaction and opportunities for new service offerings. Panel management, multichannel data collection, benchmarking, and statistical analysis are the top features these buyers should choose.
Nonprofit organizations: Nonprofit organizations conduct market research to gather information about their supporters’ or donors’ preferences, motivations, and behavior. These firms should consider investing in a market research solution that offers multichannel distribution, reporting, and statistical analysis to identify patterns in donors’ behavior and payment trends for maximizing fundraising abilities.
Benefits and potential issues
Here are some of the key benefits market research software can offer to your business.
High data quality: Market research software collects data based on the parameters and quality standards defined by you. It uses the defined standards to identify which data to keep, discard, or correct. Its survey sample management feature also helps you ensure the collected data is consistent, correct, and of high quality.
Better audience targeting: Using the multichannel distribution feature of market research software, you can reach out to your target audiences across channels, including emails, social media, and web. Thus, you’ll be able to capture responses from various prospects, and the data you collected will provide a well-rounded opinion of customers’ preferences.
Enhanced customer service: Market research software lets you measure how satisfied customers are with your products or services. Comprehensive data reports generated by the software help you identify your customers’ likes, preferences, and wants, so you’re able to serve them better.
Lower risks: The software helps you understand market demand and viability for new products or services before launching them in the market. It also assists in identifying improvement areas for your existing offerings. You can add new features or make improvements to existing features to ensure your product or service fits the needs of the target audience. This reduces the chances of customer rejection or disinterest and lowers market risks for your business.
Market trends to understand
Here are some recent trends related to market research software that you should be aware of:
Data visualization tools helping companies better understand research results: Businesses are increasingly using data visualization tools to easily identify trends or patterns from research data. Data visualizations such as charts, graphs, and images help simplify complex datasets so that companies can spend their time and resources more efficiently.
Artificial intelligence (AI) improving market research and data analysis: AI-equipped market research tools can filter large volumes of collected data using text analysis to identify relevant trends and customer behavior. They improve data accuracy by reducing the chances of human error or bias. Market research software driven by AI also helps save time on report generation and secondary research.