How To Choose Market Research Platform

Businesses have to make many critical decisions to succeed in a competitive market. How often do you struggle with finding the right growth opportunities while remaining customer-centric as a business owner? Without the proper research about the market, all your efforts go in vain. 

A market research platform offers many benefits, like automation making the research data more accessible to you. This also removes the need for performing tedious, repetitive market research-related tasks, allowing you to focus on core functions. 

Moreover, businesses are spared the hassle of hiring a full-service agency as they can perform the research tasks themselves. So, sending the analysis report back and forth is not needed. Plus, it saves a lot of money since gathering research data is not cheap.  

However, choosing the right one can be confusing with many market research tools. Here are a few factors to consider for selecting a research platform aligned with your business requirements:

Amount Of Analysis 

Before zeroing in on a platform for market research, you need to figure out the type of software you require. This depends significantly on the amount of internal analysis the marketing team performs. Once you have this figured out, you can compare the analysis tools to find a suitable one. 

The type of analysis also impacts your choice. For instance, you may need software that performs regression modelling or factor analysis, or maybe you prioritise statistical analysis above all. Depending on these, you can choose a standalone or comprehensive research platform. 

Type Of Research 

Market research methods also help determine the kind of platform you require. In general, market research can be of various types, such as: 

  • Audience research
  • Content research
  • Keyword research
  • Mobile app market research
  • Competitor research
  • Campaign effectiveness research 

So, before choosing the platform, you must find out if it can help you with the type of research you want to conduct. If the market research undertaken by your organisation is more complex, you may even need a customised platform. 

Need For Reporting And Visualisation 

The next feature you need to look for in the marketing research tool is the availability of data visualisation, dashboard and analysis. Both these tasks are crucial to market research but require very different systems. 

So, the type of platform you choose needs to address these functions effectively to be helpful to you. An efficient platform will provide data dashboards comprising many graphs and charts. Moreover, you can have the option of acquiring data in real time. 

However, data visualisation requires time. So, you must avoid any platform that promises instant results regarding this. 

Support

You must also ensure that the platform offers ample support, as these tools can be complex. Without occasional help, it may take up your precious time to resolve matters. An adept support service can offer solutions, reducing downtime. 

Also, ensure that the research service offers assistance through email and phone. Receiving regular product updates will make the process a lot smoother for the marketing team. 

Wrapping Up 

A market research platform can save time and cost for businesses. Moreover, these tools offer higher efficacy when providing accurate data about the market. This allows you to locate and address the critical factors that make your business stand out. 

With automated functionality, the tools help you make faster and more informed decisions without a second thought. The best part is that integrating the current workflow via a good platform is simple. 

So, keep the above factors in mind when choosing the proper market research tool to streamline your marketing efforts conveniently. 

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