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As a brand or business, it’s not enough for you to intimately know your products and services. You also have to know your industry and customers inside and out if you want to achieve the highest level of success. To help you gain these insights, there are sites for market research that can offer a deeper look at your business and uncover ways to win over your audience.

What Is Market Research and Why Does It Matter?

Market research is the act of gathering and analyzing data about the position of a product or service in a market. It looks at information regarding current customer interest and potential growth.

The market analysis also gathers information about the people who are and might be interested in a product or service. It interprets data as they relate to customer spending habits, geographic locations, industry competitors, and economic conditions.

These insights help you find out:

  • How many people are likely to become your customers
  • Who your customers are
  • Why they buy
  • How they buy
  • How much they buy
  • Why they buy from you
  • Why they buy from a competitor
  • Where there might be opportunities for niche marketing

To find answers to these questions, there are many sites for market research that can help you uncover insights about your customers and industry.

The Best Sites for Market Research

Some of the best sites for market research include the following tools, platforms, and research methods. Use these free marketing research websites to gain insights into your industry, customer base, and potential for growth.

U.S. Census Data Tools

A vital part of marketing research is determining your market size or the potential reach of your products or service. Research to see how many people you could reasonably expect to become your customers. For this type of research, there are U.S. Census data tools. The site has more than a dozen online market research tools and free industry research reports that help you gain insight into demographics and geographic locations of populations who might be interested in your offerings.

US Census online market research tool

SBA’s Office of Entrepreneurship Education Resources

Another one of the best sites for market research as it relates to customer demographics and economic statistics is the U.S. Small Business Administration website. Their Office of Entrepreneurship Education has a variety of market research analysis tools, resources, and reports that provide information useful for learning about customer statistics, product production, economic factors, and data you can use for your marketing intelligence.

 

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Pew Research Center

For more reports and datasets to use in your market research, search the Pew Research Center. The company conducts “public opinion polling, demographic research, content analysis, and other data-driven social science research,” all of which offer insights into social, industry, and media trends. The varied and in-depth reports help businesses get a data-focused perspective on the topics shaping industries and geographic areas.

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Statista

For researching data and stats, Statista is another one of the best sites for market research. The site includes datasets on topics in over 600 industries. In addition to providing hard data, Statista also provides many supporting charts and infographics that make the data easy to consume, understand, and use in your market analysis.

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Google Surveys

One of the most powerful ways to learn about your target market is to ask questions. Creating surveys and distributing them to people who match the characteristics of your ideal audience allows you to get direct insight into the minds of your target customers. One of the best sites for market research like this is Google Surveys. You create a survey, describe who you want to take the survey, and Google pools people who match your criteria, and provides you with the results.

free sites for marketing research

SurveyMonkey

Getting information from people who match the criteria of your ideal customer is useful and so is gathering data from the people who actually do business with you. A part of your market research should include surveying your current customers to gain insight into their buying decision process and information that can help you create buyer personas. To perform this type of research, use SurveyMonkey to create surveys that you can distribute to your list of current customers.

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Alexa Tools

Researching your audience is a powerful way to gain insights to use in your marketing intelligence, which is why Alexa is one of the best sites for market research. Using Alexa, you can uncover a variety of details about your audience’s demographics, interests, and habits.

 

Audience Overlap Tool

The Audience Overlap Tool allows you to enter your website or up to 10 competitors to see a list of other websites that the audience regularly frequents.

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This helps you get to know what other interests your audience has as you can see what other types of websites they use. Demo the tool for free and find similar sites now.

Competitive Keyword Matrix

Using Alexa to create a competitive website analysis is another way to conduct market research. One such tool for performing this analysis is the Competitive Keyword Matrix tool. The Competitive Keyword Matrix helps you get a look at the terms your ideal audience is using in search to find your website and your competitors’ websites. You can use this report to see which terms are leading your target audience to competitors and create a plan to target those similar keywords.

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Site Overview

The Site Overview Tool allows you to enter a website and receive a report on the website’s top keywords, traffic sources, audience geography, and other sites with an overlapping audience.

City Town Info

To get more detailed demographic information as it relates to careers and geographic areas, use City Town Info. The site allows you to search by region and explore details about what types of jobs and college experience residents of those areas have. The data helps businesses get to know the people living in specific areas around the U.S. and gather insights into what they do, how much they earn, how much education they have, and more.

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Google Trends

Google offers another one of the best sites for market research with Google Trends. It allows you to get insight into the minds of consumers and audiences. The tool helps you see what topics and stories are popular by displaying reports on the top, most searched for terms. You can use filter functions to see trending stories based on region and category to gain more insight into the areas that are most relevant to your audience and industry.

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Social Mention

Another tool that helps you get a radar on industry trends and hot topics is Social Mention. The tool curates social posts that mention a target search term. It also provides details about the search term such as audience sentiment (how users feel about the term) and reaches (how much influence the term has). To gain insight into your business or industry, you can search both your brand name and related terms to get an idea of how audiences feel about the topic.

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Start Your Market Research Today

When it comes to understanding and winning over more customers, don’t rely on guesses, estimates, or feelings. Get the facts. Do a detailed competitive analysis of your industry using these sites for market research and discover new growth potential for your business and the path you need to take to get there.

To get help with your market research, sign up for a free trial of Alexa’s Advanced Plan. It includes the Audience Overlap, Site Overview, and Competitive Keyword Matrix Tools mentioned in this post along with dozens of other tools that help you learn about your customers, competitors, and industry.

 [Source: This article was published in blog.alexa.com - Uploaded by the Association Member: Robert Hensonw] 
Categorized in Business Research

Commercial real estate decision making can benefit from the data and insights provided by solutions such as Google Search trends.

NEW YORK CITY—The ability to track data tied to internet searches could be a big boon to commercial real estate, says CBRE.

We’ve all heard so much talk of late about the tech-based disruption of traditional modes of business while, in fact, we all contribute to it. Let’s face it, we’re all well on our way along the digital superhighway, and with every search we do on the web, we leave behind a trail of data.

Here’s the surprise: That’s a good thing—especially for the commercial real estate industry—and a recent article in Blueprint, presented by CBRE, says exactly that. Just take a look at the title: “How Google Trends Can Inform Commercial Real Estate Investing.”

It’s an important concept to embrace, says Chandra Dhandapani, CBRE’s recently appointed chief digital and technology officer. She explains that the firm has been advocating for its clients and internal staff that technological advances, in and of themselves, mean little. Rather, their key and only purpose is to advance and inform specific business outcomes.

This is supported by the Blueprint article. At this point, we’re all pretty familiar with such tracking data at the level of the individual user. But the authors, Ph.D’s both—CBRE economist Dennis Schoenmaker and Michiel Daams, a researcher at the Netherlands-based University of Groningen—say commercial real estate can gain by data collected at the aggregate level.

 

Such progressive initiatives are already taking place outside our industry. In fact, as just one example, the authors tell us that, “in a 2013 study in the scientific journal Nature Scientific Reports, researchers from Boston University and the University of Warwick demonstrated that Google Trends search data could help predict movements in stock markets.”

So why should you care? Well, they go on: “These findings have implications for the commercial real estate world as well. Aggregate search data could, for instance, allow investors to identify locations drawing significant investor interest, or track trends in overall global sentiments around commercial real estate.” In other words, such data can be used both to make specific market-to-market comparisons and to track global trends.

“To date,” the article tells us, “such notions, though promising, remain relatively untested. However, because Google Trends has categorized commercial real estate queries as such, data on how often and over what periods of time people have queried commercial real estate and investment is readily available.”

In fact, Google Trends data on CRE searchers worldwide showed a drop in queries “in all markets in the aftermath of the 2008 global financial crisis.” But in the years following, as the major gateway cities around the world found a renewed cache as safe havens, there was a major rebound with “particularly sharp rises occurring in the New York and London markets.”

The numbers support the correlation between market activity and Google Trend searches. As the authors tell us, “from 2005 to 2016, London market performance and the number of searches showed a contemporaneous correlation of .84, indicating an extremely high correlation between the two.”

They go on to suggest that such metrics as Google Trends be added to more traditional market indicators, such as the European Sentiment Index and the Federal Bank Lending Survey. “We would suggest that city-level search data could help complement such macroeconomic information by providing a narrower, local view of market conditions and investor sentiment,” the writers conclude. “The information is out there. We just have to put it to use.”

Author : JOHN SALUSTRI

Source : http://www.globest.com/sites/johnsalustri/2017/02/07/uncovering-the-hidden-value-of-search/?slreturn=20170108000211

Categorized in Search Engine

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