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Online Market Research Methods to Take Your Products to the Next Level

• by Mushegh Hakobjanyan
• June 26, 2023

Conducting online market research can be a very effective tool for better understanding your target audience, how people feel about your products, and how you should shape your future marketing strategy. In fact, 53% of consumers do online research on a regular basis, and studies have shown that 95% of people read online reviews before making a purchase.

In this article, we will examine market research methods and the different forms they take, as well as the advantages and disadvantages of different types.

What Is Online Market Research?

Online market research is market research that uses online data – both your own and that of other companies – to learn more about your target audience and scale your offerings appropriately.

Successful online market research can help your business grow faster and more effectively. It holds several advantages over in-person research, including:

• Much lower costs. Surveys conducted by email, for example, can cost between $3000-5000, as opposed to offline surveys that can cost $100,000 or more. This includes saved costs on facilities, and saved time for participants as they do not have to travel to take part.
• Greater potential representation of people from different time zones or geographical areas.
• Ease of data storage. Asking questions online automatically allows answers to be stored and filed for analysis and archival purposes.
• A greater degree of anonymity and honesty from respondents. Regardless of whether questions are open-ended, multiple choice, or of other sorts, people can feel more comfortable being honest knowing that they can be anonymous.

There are also some disadvantages to conducting market research online, which people should keep in mind:

• People might not place sufficient emphasis on questions to read them carefully if they don’t have a distinct “event” to go to. They could be distracted by other things and simply check off answers for the sake of doing so.
• There is a risk of some participants not fully understanding certain questions. When this happens, people have no recourse to clarify or ask follow-up questions.

Despite the limitations, online market research certainly has enough benefits that it can provide very useful insights into business trends and facts for businesses who conduct it. It can be an effective way of generating behavioral targeting ideas to better understand your consumer base.

Online Market Research Methods

Online market research consists of two different types of approaches depending on whether a company is conducting its own research or using research that has already been conducted by others. They are referred to as primary and secondary methods. 

Primary Market Research

Primary market research is research that involves the collection and analysis of a company’s own data. The data that is used in analyses is only visible to the company itself. Primary market research involves the use of methods such as market research surveys, online focus groups, and interviews. Offline primary resear ch also includes the use of observation groups.

In conducting primary market research, you are aiming to gather information about your target audience and their preferences in order to refine your offerings more appropriately. 

One of the distinguishing features of primary research is that the groups you collect information from are ones that reflect your target audience. That is, they have similar characteristics in common, and the data that you collect is likely to match that, which will apply to your company. 

The advantages of primary market research are the following:

• The research you conduct in using primary research methods is fully your own. You do not have to share it with people outside your company, and in conducting future analyses, you have reliable bases to work from in that you will already be familiar with your existing data.
• In conducting primary research, you have control over how you want to formulate processes, whether they be surveys, interviews, or other methods. The data that you receive will reflect precisely the initial purpose of your research.
• You have the opportunity to focus on your own business’ goals and concerns, as opposed to looking at broader business concerns within your industry, your geographical area, etc. You can delve as deep into your chosen research areas as you want. 

There are also some disadvantages to doing this type of research that you should keep in mind:

• There is a significant amount of time involved in planning, carrying out, and analyzing primary research. Some companies don’t have the resources necessary to do this. Although online tools have made it easier in recent years, conducting your own research is still more time consuming than accessing secondary research.
• Having the skill base to know how to conduct a proper research experiment can be complicated. You need to have a thorough understanding of how to carry research out and how to analyze results in order for it to be truly effective.
• Primary research only allows for a narrow sampling of any given group. Even if you choose a target group that you think represents your interests, you still only have your own chosen sample of people/categories/indicators to work with. And this doesn’t necessarily give you an accurate representation of your larger potential audience. 

Secondary Market Research

Secondary market research is research that has already been conducted by other groups that you access for your own purposes. For companies that do not have the time, resources, and money to conduct their own research, secondary market research can be useful in illustrating industry trends, demographic information, or other information that affects different aspects of industries. 

Secondary market research includes studies conducted by government agencies, trade associations, or larger businesses in a given industry that have sufficient resources to carry out large-scale research themselves. 

There are advantages to doing secondary research, rather than primary research:

• Many reports, studies, and other types of articles that have already been concluded are open to the public. This means that you can often access them without excessive difficulty and without having to pay. Many research studies are available online, and you can contact associations or government offices if you see references to studies that you would like to investigate further. Although private companies might require payments to access their information, doing so will still likely be cheaper and easier than conducting the same research yourself.
• Reading and analyzing research studies that have already come out can be beneficial in not only providing data, but bringing to light trends or issues that you might not have been aware of in your industry. They can also help shed light on shifts in industry leaders, changing demographics within your target group, or other valuable information.

There are some disadvantages to relying on this type of research, of course. They include:

• Using other entities’ work as a basis for determining your own strategy can provide an inaccurate foundation for you. 
• There could be any number of variables that are different between your company and the ones whose research you review. 
• This type of research doesn’t allow you to focus on single products or particular aspects of your business.

Qualitative and Quantitative Market Research

Market research can also be broken down into two types based upon the style of methods that researchers use. They are known as qualitative and quantitative methods, and we will provide an overview of both of them.

Qualitative Market Research

Qualitative market research is a research method that involves asking open-ended questions to groups of people in order to collect their thoughts and opinions on products and services. This type of research usually involves smaller groups of people in online focus groups or interviews.  

Both qualitative and quantitative research have distinct advantages to them. In order to really gain a solid understanding of your audience’s feelings about products, you should conduct both types of research.

Qualitative market research can be instrumental in understanding how people feel about different aspects of your business. In other words, you can gain insight into why people prefer certain types of things over others, rather than simply the numbers of them that they consume.

The advantages of using qualitative research methods over quantitative ones include:

• Using smaller groups of people allows for greater depth of answers. If you are looking to refine a product line or understand why your product might be falling in the market, you can learn more through a qualitative research study.
• You have the opportunity to choose a particular group that represents a narrow set of interests if you want to control the number of factors involved.
• Asking open-ended questions not only provides additional insight, but can serve as a basis for future discussions and research projects.

There are also disadvantages to using qualitative research methods:

• Because groups are limited in size, they might not accurately represent the opinions of the larger population.
• Qualitative research only examines particular aspects of the products being discussed, so they do not provide an overall assessment of attitudes towards products as a whole.
• In being asked open-ended questions, people might be reluctant to give honest answers.

Quantitative Research Methods

The other major type of market research is quantitative research. Qualitative research is research that aims to obtain larger-scale information from people using surveys, polls, or questionnaires to uncover trends and larger public sentiment about products or services .

Quantitative research methods offer distinctly different advantages for your business. The distinctive features of quantitative research include the following:

• Larger numbers of respondents. If you have a larger pool of people from whom you can receive responses, your results will likely be more reflective of the population as a whole. 
• Quantitative research often involves the use of random samples of the population. Random samples provide a wider representation of society. Also, it reduces the amount of bias that is often present in qualitative studies as open-ended question formation can often be skewed in favor of certain types of answers.
• Quantitative research allows for anonymity. By simply being one of many respondents in a large-scale survey or other research, participants don’t feel as if they are divulging potentially controversial or offensive opinions.

There are also some disadvantages to using quantitative methods:

• Answers might be limited or inaccurate. By not allowing people to complete open-ended questions, and therefore allowing for the inclusion of context, you might be getting skewed or inaccurate results.
• You don’t get the depth of answers that you would get using qualitative methods.
• People might pay less attention as answers are simply easy to check off and they want to get the survey (questionnaire, etc) over with.

How to Do Market Research Online

Let’s now take a closer look at some of the distinct practices involved in online market research. As we will explain, each of these types has particular advantages to it.

Online Surveys

Online surveys are surveys that are conducted online for the purpose of gaining insight or information about your target customers in order to better refine your products to conform to their needs.

Conducting online surveys can be useful for various purposes, from assessing the potential popularity of new products to better understanding customer needs regarding existing ones, and learning more about your brand popularity overall.

There are a set of steps that you should follow in conducting an online market survey:

• Figure out what you want to learn. Are you working with new products? Do you want to gauge customer satisfaction levels with a particular existing product or line of products? Do you want to improve the customer experience in general?
• Decide who you want to survey. This will be related to your goals: 
• Obviously, if you’re assessing satisfaction with a particular type of toy, for example, your target group will consist of parents. 
• If you’re trying to get information on anti-aging cream, you will target women of a certain age group who tend to use these types of creams.
• Determine as accurately as possible other factors related to your potential respondents: geographic location, income bracket, etc. This will help you hone your marketing strategy once you’ve completed the survey, and also give you more accurate results.

3. As surveys usually involve quantitative methodology , you could ask different types of questions to your participants, including: Multiple choice questions:

a. “How satisfied are you with producing X?”

• A. Very satisfied
• B. Somewhat satisfied
• C. Not satisfied

b. Numerical scale questions: “How satisfied are you with this product on a scale of 1-5?”

4. Take circumstances into consideration. With in-person surveys, this would involve things like time of day, location, etc., but of course online surveys don’t include these kinds of factors. So instead you should focus on things like platforms. What are the preferred social media of your target group? If you’re sending your survey out by email, think about whether this is really the best way to reach the group you want. If you determine that your target group is people aged 30-40 who use Facebook more than other platforms, you should consider sending out your survey via a paid post on people’s Facebook pages.

5. Calculate your results. The types of results that you want should be part of your initial design and the goals you set out from the beginning. There are many different kinds of results that you could look for, depending on your goals:

• You could look for the highest number of any given type of response. For example, if you’re trying to find out how the majority of customers feel about a particular product, you could assess what the most popular responses are.
• You could assess how many people either really like or really dislike a given product (how many rate it a 1 or a 5).
• You could rank your respondents’ results against those of the respondents in a secondary research project to compare how a similar demographic feels about a particular product type to yours.

These are just a few of the types of outcomes that you can have as research goals. What you look for all depends on your larger strategic plans and what you want to accomplish in your marketing efforts.

6. Analyze how your results fit into your overall product line and goals. Your results will influence your larger marketing strategy, and possibly individual product lines, as well.

Explore Industry Reports

A secondary research method that you can use to obtain more wide-scale information about your industry as a whole is to explore industry reports. Unlike surveys, industry reports give you information about numerous different aspects of your industry, including:

• large-scale trends in your industry over time
• detailed financial statistics that help you better understand things like consumer spending habits, typical operating costs, etc.
• Information about industry leaders and their individual statistics
• How market share is divided according to different metrics

Although obtaining industry reports can be complicated, as well as expensive, there are places that you can look for them that might save money and effort:

• The Bureau of Economic Analysis 
• Dun & Bradstreet
• Trade associations for your industry in particular

Although industry reports might be expensive to obtain copies of (you might pay $3000 or more to access a given report), the costs are far lower than those of conducting your own research.

Using a combination of the broader information to be gained from industry reports, as well as your own primary and secondary research, will together give you a much more complete picture of the particulars of your business, as well as where you stand vis-a-vis the competition and the industry in general.

Start Conversations with Focus Groups

Finally, focus groups are a way to collect potentially even more in-depth qualitative information than any of the above methods. Focus groups generally include up to ten people and involve a series of open-ended questions intended to gain insight into people’s feelings about products, services, or other aspects of business. If you’re looking to gain a deep understanding of what people like or dislike about your products, and why they feel that way, focus groups can be a very effective way to do this.

In conducting a focus group session , it is the job of the moderator to steer the conversation as he or she sees fit. Initial questions could include things like the following:

• “How do you feel about product X?”
• “How often do you use it?”
• “Is there anything you don’t like about this product?”

An effective moderator is one that asks probing follow-up questions to gain additional insight into questions, and to try to include group members that might be reluctant to speak out. Follow-up questions could include things like the following:

• “Is there anything else you’d like to add about the product?”
• “What would need to change for you to buy product X?”
• “We discussed product X in detail, but product Y less so. Is there anything about the product Y you’d like to add?”

Advantages and Disadvantages of Having Focus Groups Online

Although focus groups have traditionally been conducted in person, technology has made it possible for them to be done online by participants logging in from their own locations. This widens the possibilities for participation geographically and saves costs on facilities, transportation, etc.

However, one of the advantages of having in-person focus groups is that group members form a dynamic with each other, and the conversation is one that builds on itself. Members get ideas from other members, and the conversation ends up being a group effort in the end. This can still happen online, although some researchers believe that the lack of in-person contact can limit the natural flow of conversation.

Analysis of Results

Once you’ve completed your research, it will be time for you to analyze it. A careful analysis can provide insights into not only your original questions, but it can also reveal other aspects of your business and/or wider industry that you hadn’t considered before. 

Regardless of whether your research is qualitative or quantitative, the results that you obtain can be useful to your product line development overall. Even if you have focused a study on one particular product, for example, answers can give you insight into your larger business.

Research projects can build upon one another. Once you’ve completed a research project on a given subject, you can use the results as a foundation for further studies. And in this way, you can build your products to new levels.

Market research can help your company in innumerable ways. Whether you are a new company, or a more established one, conducting market research can help you grow, understand and resolve problems, and gain a better understanding of your products and your industry overall. Once you have the online market research tools to carry projects out, you will be better equipped to undertake studies yourself.

Conducting market research used to be a time consuming and costly undertaking, but thanks to technological advancements and the growth of online methods, it has become faster, cheaper, and more accessible for a much greater range of companies.

Mushegh Hakobjanyan

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26 Tools & Resources for Conducting Market Research

Published: April 30, 2024

Conducting market research pulls details together to help you choose new products or services to launch. They also help identify your audiences and best marketing strategies so you are ready to act without the guesswork.

Businesses use market research software to minimize risk and make more data-driven choices.

I own a small business, and by gathering facts and opinions, I can better predict whether new products or features — and for more prominent companies, even locations — will succeed before investing.

Here are 25 of the best tools for conducting market research, including a few recommendations directly from HubSpot market researchers and bloggers who use them.

Helpful Market Research Tools & Resources

1. similarweb.

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Similarweb is probably the highest quality, most well-known, and most convenient way to get and compare traffic information about any website you land on — short of having an expert analyst whispering in your ear, which could get awkward. Their free suite of products — including the Chrome extension — is worth exploring and gives you useful, high-level information. The deep insights come from taking advantage of their database of real-world information on global website performance gathered over time, which they’ve already been building for over 10 years. They have their finger on the pulse of online business worldwide, from sales to sites to stocks.

Microsoft, Amazon, and even Google use Similarweb and the insights they provide on other enterprise-level operations down to small businesses. If you want to know how your company stacks up and then initiate a robust research and marketing campaign, these are serious tools that can help you grow.

What I like: One of their add-ons is called App Intelligence, and it can benchmark your growth and track your progress against millions of apps — for both iOS and Android — and provide daily insights on app rankings, engagement, retention, and more.

Pricing : Starter plans cost $125 per month paid annually; professional plans cost $333 per month billed annually; team and enterprise plans have custom pricing.

For Max Iskiev , market research analyst at HubSpot, one research tool stands out from the rest: Glimpse.

He told me, “Glimpse is my favorite research tool. It’s quick and easy to use, allowing me to design and launch short surveys for real-time insights on trending topics.”

Writers for the HubSpot Marketing Blog have also used Glimpse to run short, 100-person surveys for articles (case in point: Are Sales Reps Rushing Back to the Office? ).

Not only is Glimpse valuable for doing quick pulse-checks on the latest trends, but it also leverages the power of AI for even deeper insights.

“Glimpse really shines when it comes to open-ended questions, using natural language processing and AI to analyze emotion and sentiment, saving time, and offering invaluable insights,” Iskiev shared.

Best for: Those who can invest in AI tools for their businesses but don’t need a decade’s deep dive like users of Similarweb might.

Pricing : Starter Plan - Free; Professional - $500/month; Advanced - $1,000/month; Enterprise - custom pricing.

3. BuzzSumo

BuzzSumo offers several highly useful tools that work best as a content research tool for mid-size businesses and up. If you need many ideas for a whole lot of content, BuzzSumo is likely a good fit for your company.

Their monitoring tools can alert you to new content that relates to your keywords of choice.

This is smart for writers, content strategists, and those who manage writers and content strategists to stay on top of trends in what consumers want to know more about within your industry — so you’re right there to provide it.

BuzzSumo also gives you access to reporting tools that stream various sources of information to your dashboard, making it easy to keep up with developments and build visual assets to communicate about them.

You can find major influencers — worldwide — through BuzzSumo that fit your brand to sponsor and collaborate with.

Unfortunately, BuzzSumo doesn’t integrate well with Instagram, so you’ll want to focus on influencers that use other social channels unless you’re willing to do IG work on the side.

What I like: Their Chrome extension is a nice addition to their offerings for companies that work with freelancers and remote workers to take the work on the move.

Pricing: Free 30-day trials are available. Content creation plans cost $199 per month; PR and comms plans cost $299 per month; suite plans cost $499 per month; and Enterprise plans cost $999 per month.

4. Answer the Public

Answer the Public is a sister product to UberSuggest, both being brainchildren of Neil Patel.

Answer: the Public watches what people are searching for and lets you keep track of how things change over time. By studying the changes, you can be at the front of trends — positive or negative — so you can respond to the changes quickly.

It’s billed as an excellent tool for public relations professionals to give them a heads-up on how their company is faring in the public eye.

If you fall on the wrong side of public sentiment, you can be right on top of salvaging the situation and making improvements to regain trust.

If you’re doing something right and see gains in positive engagement, you know to keep up what you’re doing and may even want to expand upon it.

Great examples of what organizations have done with information like this include Wendy’s ongoing roasts and savage clapbacks on social media.

The Oklahoma Department of Wildlife Conservation’s hilarious insistence on not bringing mountain lions in the house also nabbed engagement by the truckloads (of corgis).

What I like: I like that Masterclass videos are available. They make sure to include lots of opportunities to learn how to best use their products and get maximum value from the suite.

Pricing : Individual plans cost $9 per month; pro plans cost $99 per month; expert plans cost $199 per month. Lifetime Pricing is available. Individual lifetime plans cost $99, pro lifetime plans cost $199; and expert lifetime plans cost $1,990.

5. GrowthBar SEO

GrowthBar SEO is all-in for AI. If your leadership wants a slice of the AI action at work in the company’s market research, this might be the tool to reach for.

It uses ChatGPT-4, and the peer-to-peer review site G2 ranked it the #1 AI writing tool for SEO in 2022 and 2023.

What sets it apart is that the AI writing assistant doesn’t just compile and give word to information it finds online.

It offers selections of relevant keywords, titles, headings, industry standard word counts, and link suggestions that you can choose from as you move through the outline.

They also include tools for keyword research, keyword ranking, and information about your keyword competitors. And because Google search is incorporated into the suite, you can do most, if not all, of your writing work on one screen.

Pro tip: As with all AI content, you’ll need a writer to bring the content to life by fact-checking information, adding unique or inside perspectives, meaningful quotes, and many other values that make the content rich to read.

GrowthBar SEO knows this, and you can source freelance writers there as well!

Pricing : A seven-day free trial is available. Standard plans cost $36 per month; pro plans cost $74.25 per month; and agency plans cost $149.25 per month.

6. Statista

Statista is a data visualization website that takes data from reputable reports across the web and makes them easy and digestible for researchers, marketers, and product creators just like you.

“Statista is like my market research sidekick, giving me all the data I need without the endless search. No more digging through the haystack. With Statista, I can spot trends and make informed decisions with ease," Icee Griffin , market researcher at HubSpot, told me.

One neat aspect of using Statista is that the same chart is updated as the years pass. Say that you want to allude to the value of the beauty market in your proposal.

If your investor accesses that same graph a year from now, it will reflect updated numbers. Statista finds the most recent research to update their visualizations.

Pro tip: Statista doesn’t carry out original research, but does have around 100 analysts who seek out gaps in their resources to provide ever more useful, trending data.

Pricing : Basic plans are free. Starter plans cost $199 per month, billed annually. Professional plans cost $959 per month, billed annually.

7. Think With Google Research Tools

Wish you had information on your product’s likelihood of success?

Think With Google’s marketing research tools offer interesting insights on whether anyone is looking for your product ( Google Trends ), which markets to launch to ( Market Finder ), and what retail categories rise as the months and seasons pass ( Rising Retail Categories ).

If you’d like to market your product through YouTube, the Find My Audience tool allows you to investigate what your potential viewers are interested in and what you should discuss on your brand’s YouTube channel.

What I like: Free and incredibly useful in my experience, small and newer businesses really benefit from having tools like this to conduct market research and get their growth rolling.

Pricing : Free

8. Census Bureau

The Census Bureau offers a free resource for searching U.S. census data.

You can filter by age, income, year, and location. You can also use some of its shortcuts to access visualizations of the data, allowing you to see potential target markets across the country.

If you’re considering a highly competitive product or service, you can easily find out where your target industry is most popular — or where the market has been oversaturated.

Another helpful tool is the Census Bureau Business and Economy data , where you can also target premade tables depending on your industry.

Pro tip: The text information on each screen can be overwhelming, so here’s a shortcut for you. One of the best ways to use this tool is by finding the NAICS code for your business.

Then, access the " Tables “ tool, click ”Filter" on the sidebar, and search for your industry.

9. Make My Persona

HubSpot’s Make My Persona tool allows you to create a buyer persona for your potential new product. In this tool, you pick a name for the persona, choose their age, identify their career characteristics, and identify their challenges.

This allows you to pinpoint both demographic and psychographic information.

Creating a buyer persona is an early step in the marketing process but an important one to avoid scope creep.

If you’re unsure about details like these and how to use market research tools for your business, let me recommend Hubspot’s Market Research Kit .

It’s completely free and helps you build a strong foundation for data-driven decision-making in your future marketing strategies.

Best for: Make My Persona is best suited to B2B product launches because you’ll be prompted to document your buyer persona’s career objectives and role-specific challenges.

Ideally, your product would solve a problem for them in the workplace or help their company achieve revenue goals.

10. Tableau

Tableau is a business intelligence suite of products that allows you to “connect to virtually any data source.” But the data isn’t presented in unreadable tables.

Rather, Tableau helps you visualize this data in a way that helps you glean insights, appeal to external stakeholders, and communicate the feasibility of your product to potential investors.

You can visualize data on anything from corn production in tropical climate zones to office product sales in North America. With Tableau’s tools, you can take as granular or as general a look you’d like into potential marketplaces and supplier regions.

What I like: Visual information for humans and pure data for the machines all in one. Tableau integrates well with spreadsheets and databases so that you can export Tableau data to Excel , back up records in Amazon Redshift, and more.

Pricing : Tableau Viewer plans cost $14 per user each month when billed annually. Tableau Explorer plans cost $42 per user each month when billed annually. Tableau Creator plans cost $75 per user each month when billed annually.

11. Mentionlytics

Mentionlytics is a web and social media monitoring tool that allows businesses to discover people's thoughts about their brands, campaigns, products, or services.  Users can create and customize reports and get data-driven insights that will help them make informed decisions. They can also filter results by language, location, and social media channel to personalize results.  Analyzing sentiment and emotion lets you easily understand what will work for your brand and industry and what you should avoid.  The Share of Voice report allows you to benchmark against your direct competitors and industry. You can also identify trends and discover influencers in your niche and area to boost your next steps.

Best for: Mentionlytics is great for competitor analysis and crisis detection. Their Social Intelligence Advisor (SIA) turns large volumes of data into understandable knowledge to offer custom advice on crisis detection and brand growth.

Pricing: A 14-day free trial is available for most plans. Basic plans cost $69 per month; Essential plans cost $139 per month; Advanced plans cost $249 per month; Pro plans cost $399 per month; Agency plans cost $599 per month; Enterprise plans cost $950 per month. Annual billing options offer discounts.

12. Paperform

A market research survey is an effective way to better understand your target audience and their needs by asking them directly.

This step is integral to understanding your dream customers’ problems, so you want to ensure the process is as interactive as possible and gathers objective, accurate responses.

With its free-text interface, Paperform is as simple as writing a Word document. You can make your survey stand out by customizing colors, fonts, layouts, and themes to create your unique look and feel.

There are 27+ question field types, such as ranking, matrix, or scale fields. Use several to create visually engaging surveys that collect more information and see higher completion stats.

If you’re unsure where to start, you can use one of their expertly-made questionnaires or market research survey templates to get you started.

Best for: In my experience, Paperform is able to efficiently incorporate multiple customer personas. It uses conditional logic to show or hide questions or whole sections of content to create fully personalized paths.

These interactive forms lower drop-off rates and boost customer interaction.

Pricing: Essentials plans cost $29 per month. Pro plans cost $59 per month. Business plans cost $199 per month. For enterprise pricing, contact Paperform’s sales team.

GWI is an on-demand consumer research platform that makes audience research a breeze. Powered by the world’s largest study on the online consumer base, GWI provides insights into the lives of over 2.8 billion consumers across 50+ markets.

With 250k+ profiling points, you can find your unique customers and learn everything you need to know about who they are, what’s on their minds, and what they’re up to.

One user-friendly platform makes it quick and easy to become an expert on your audience and capture the answers you need to succeed.

Pro tip: GWI even has features to compare markets and create customized and shareable charts in seconds, helping you distribute critical information as quickly as you find it.

Pricing : Explore Interactive Demo for free; Flexible and custom pricing with discounts available.

14. SurveyMonkey

SurveyMonkey is a powerful tool for creating in-depth market research surveys that will help you understand your market and consumer preferences.

With this tool, you can create targeted, uber-specific surveys that help you collect answers that pertain specifically to your product.

While using a data source can give you a general overview of your target audience and market, SurveyMonkey can help you get more granular insights from real consumers.

SurveyMonkey offers dedicated market research solutions and services and a reporting dashboard option that allows you to easily parse through the results.

What I like: I like that SurveyMonkey is a good fit for exploring markets beyond your shores. It includes a global survey panel and survey translation service for international research.

• Individual plans: Advantage annual plans cost $39 per month. Premier annual plans cost $119 a month. Monthly plans cost $99 per month.
• Team plans: Team advantage plans cost $29 per person each month. Team premier plans cost $75 per person each month.
• Enterprise pricing is available upon request.

15. Typeform

Like SurveyMonkey, Typeform allows you to run research surveys to get direct answers from your target consumers. It’s an easy-to-use, mobile-optimized form-builder that’s great for market research.

Typeform’s distinguishing factor is that it shows viewers one form field at a time. In its templates, Typeform encourages a more conversational, casual approach (like in its market research survey template ).

You can create a wide range of question types, and other features include the ability to recall answers from previous questions and create logic jumps.

In a survey, you’d want to collect both demographic and psychographic information on your customers to understand their purchasing behaviors and the problems they encounter.

The goal is to find out if your product is the solution to one of those problems — and whether, before launching, you should add more features or rethink your product positioning strategy .

Best for: I think Typeform is best for product launches that target a younger demographic.

If you’re targeting C-suite executives at established firms, consider a more formal option, such as SurveyMonkey, or keeping your tone more formal in your questions.

Pricing : Free plans are available. Basic plans cost $29 per month. Plus plans cost $59 per month. Business plans cost $99 per month. Enterprise plans are available upon request.

16. PureSpectrum Insights (Previously Upwave Instant Insights )

PureSpectrum acquired Upwave Instant Insights in 2021 and rebranded as PureSpectrum Insights.

As before, this platform is primarily a consumer research tool. While it isn’t advertised as a survey creation tool, it allows you to launch market research surveys specifically to get consumer insights.

PureSpectrum allows you to perform customer and market segmentation and also to visualize your data for easy scanning by key stakeholders and investors. They’ve grown to include A/B testing, brand tracking, and customer sentiment.

Pro tip: PureSpectrum distributes your survey to real people. Take a look at their marketplace profile to get a sense of where and from whom you can collect valuable data.

Pricing : Schedule a demo for more information.

17. Claritas MyBestSegment

Claritas MyBestSegment provides product researchers with tools to understand a specific area’s demographic information as well as the lifestyle habits of those who live there.

Their audience segments give you information gleaned from tens of thousands of data points, giving you insight into much more than just household income, employment, and education levels.

By finding out what a segment of the population does — without having to go out and survey them — you can find out which areas would be most receptive to a campaign or launch.

You can also discover which competitors are located nearby and which lifestyle trends have shifted or are on the rise.

What I like: I like that they are able to do some of the leg work for you. Syndicated Audiences is a tool available from Claritas for finding an organized audience of consumers who are more likely to be interested in your products or services.

Pricing : Pricing is available upon request.

Loop11 is a user experience testing platform that allows you to test the usability of your website, study user intent, test the information architecture of your site, and examine how the user experience changes based on the device they’re using.

Loop11 tests your site on any device by making users perform tasks. They then complete a short question about how easy or difficult the task was to complete.

Your product may be phenomenal, but unless consumers can actually buy it through your site, your launch won’t be successful.

You can use Loop11’s participants for niche demographics or bring in your own to learn more about your current customers.

Best for: Market research for your site development. You can find out whether your target consumers find your site easy to navigate and also identify snags that prevent conversions.

Pricing : Rapid Insights plans cost $199 monthly or $179 per month, billed annually. Pro plans cost $399 per month or $358 per month, billed annually. Enterprise plans cost $599 per month or $533 per month, billed annually.

19. Userlytics

Like Loop11, Userlytics allows you to test the usability of your website, mobile app, and site prototype. You can target different devices, define a buyer persona, and disqualify participants based on screening questions.

Testing is based on tasks that your test-takers carry out. They then answer a simple question about the difficulty of the task. You can structure the question in various ways:

You can leave it open-ended, provide multiple choices, or ask for a rating. Other formats you can use include System Usability Scale (SUS) questions, Net Promoter Score (NPS) questions, and Single Ease Questions (SEQ).

What I like: Userlytics performs both a webcam and a screen recording. You can compare the user’s answers with their reactions on video to understand how they feel when they’re interacting with your assets.

Pricing : Schedule a free demo for more information.

Sometimes, you need a no-frills test to take the pulse of consumers. Temper allows you to create a question and pop it onto your website, into your emails, etc.

The smiley face, “meh” face, and frowny face make it easy for viewers to share their feelings — and for you to read their minds.

You can also add it to a product page or a landing page, tailoring the questions to fit your offerings.

As for what you see, there are three options for receiving the feedback: in a tab on each page you are monitoring, embedded in the web page itself to narrow in on aspects within the page, or at the bottom of emails so you can get real-time information as the interaction unfolds.

Pro tip: One great way I’ve seen this used is by adding it to a blog post announcing the launch of a new product. You can find out general sentiment toward the product before it even launches!

Pricing : Hobby plans cost $12 per month. Pro plans cost $49 per month. Business plans cost $89 per month. White label plans cost $199 per month.

21. NielsenIQ (NIQ)

NielsenIQ (NIQ) is a retail and consumer intelligence consultant that works with you to collect consumer insights, identify the best distribution channels for your product, and create a range of products to address the needs of your target buyers.

This service helps you look at your product launch from all angles, delivering forecasting data that predicts how your sales will perform upon launch. NielsenIQ can also run consumer insights surveys on their list of panelists and partners.

NIQ now offers a service called Byzzer to help small businesses with fewer resources. It opens a door for market research reporting, in-person events, and consulting at a lower cost than the full NIQ suite.

Best for: I think Byzzer can be a helpful and affordable option for smaller businesses, but because NielsenIQ operates like a consultant and not as a self-service software, it is a better option for established firms with a bigger product launch budget.

Pricing : Pricing is available on request.

22. Ubersuggest

Don’t be intimidated by the visually text-heavy Ubersuggest. It really is an easy tool for doing keyword and content research. You just input a phrase, and it’ll create a list of keyword suggestions.

You can also see top-performing articles and pages to better understand the types of content that rank for those keywords.

This tool is useful for market research because you can see who your top competitors are, how often your product is searched for, and whether there’s enough space in the market for the type of product you’re launching.

You can also find out the questions your target audience asks in relation to the product. Each of these questions can be turned into an informative blog post that can guide your audience, increase your brand authority, and drive conversions.

Pro tip: If you want a quick look at the results you can get, head to their website and do a search — just know that you only get one glimpse before they make you register. Alternatives to Ubersuggest include Moz , Ahrefs , and SEMRush .

Pricing : Free seven-day trials are available for all three tiers. Individual plans cost $29 per month. Business plans cost $49 per month. Enterprise and agency plans cost $99 per month. Add-ons are available at $5 each. Lifetime memberships are also available.

23. Pew Research Center

From economic conditions to political attitudes, social media usage to food science, the Pew Research Center website has loads of free research that you can use to better understand your target markets.

Be careful with your curiosity, though. It’s a gorgeous trap of interesting information that can drain your day away — but so happily.

I that Pew Research Center integrates visual data directly into the text — and we’re not talking about a chart or image spliced in.

The site has hundreds of interactive articles that allow you to filter and sift through the data for more granular, targeted insights while also making dense information easier to understand.

Their research topic selection is delightfully vast. Click the top left tab for “ Research Topics.” Then, there is a link to their “ Full Topic List .” Once there, each topic cluster has a “ More ” option.

What I like: As a writer in digital marketing, I am always on the hunt for targeted and nutritious quotes and insights. I love that you have access to what research participants actually had to say below the Pew Research articles.

It’s a stellar feature for building compelling presentations. The quotes are tagged, too, so you can sort quotes more specifically on various concepts or groups related to the research.

Here’s an example article — scroll to the In Their Own Words section at the bottom to check it out.

24. SocialMention (Part of BrandMentions)

SocialMention is a part of BrandMentions focused on social media monitoring. The platform helps you understand what your prospective customers are buzzing about online.

Search for a keyword, and SocialMentions will show you recent social posts that contain that keyword, along with the context of its usage.

After subscribing to the platform, you’ll also get other metrics such as Reach (how many people view the keyword per day), Performance (how many people engage with the keyword per day), and Mentions by Weekday (when people mention the keyword).

One way to use this tool for market research is by finding out what time of day or night people are looking for your product on social media sites.

Let’s say you’ve developed a sleeping aid app and learn through SocialMention that most people look for sleeping aid apps at 2:00 AM. When you start announcing your product, you will need to schedule your post around 2:00 AM.

Pro tip: Another useful tool you’ll have access to is sentiment analysis on your keywords. It allows you to find out how people are generally feeling about the type of product you’re launching.

That way, you can refine the tone of your campaigns.

Pricing : Growing business plans cost $79 per month. Company plans cost $249 per month. Enterprise and agency plans cost $399 per month. All prices are billed annually.

25. Qualtrics Market Research Panels

Qualtrics takes away the hassle of finding respondents for your market research surveys. They provide an online sample service so you can access real, live human thoughts without having to actually manage any humans.

It’s an introverted marketer’s dream come true!

Once you’ve identified your target audience, head on over to Qualtrics and sign up to access a representative sample.

You can then use Qualtrics’ built-in platform to start gathering insights and information from the people whose pain points you might be able to help solve.

Pro tip: You can actually choose between Qualtrics’ built-in platform or using your own chosen survey software . Sometimes, you’re already familiar and comfy with one system or need to hustle with a program you know — Qualtrics lets you pick.

26. ProProfs Qualaroo

Qualaroo is an advanced user and market research tool that helps you understand your specific market with targeted surveys.

You can run surveys on over six channels at once — such as website, app, product, social media, and email — to get a 360-degree view of your existing and potential customers.

It comes packed with features like question branching, 12+ answer types, automatic survey language translation, in-depth audience targeting, pre-built survey templates, and an extensive repository of professionally designed questions.

You can create various market research surveys in minutes to collect data on the demographic, psychographic, and behavioral traits of your target audience.

It can help you map customers’ expectations and preferences, create customer personas, and perform audience segmentation.

Qualaroo also promotes quick feedback analysis. Its in-built AI-based sentiment analysis and text analytics engine automatically categorizes the responses based on user moods.

It also highlights the key phrases and words in real time, saving hours of manual work.

What we like: In my experience, you can get an awful lot done with just this one source for conducting market research. I like it for its rare combination of tool inclusivity and affordable pricing — it’s definitely a solid source to start with.

Pricing : Omni channel plans for up to 50 responses are free. Omni channel plans for businesses up to 100 responses cost $19.99 per month, billed annually. Email surveys up to 50 responses are free.

Email surveys for businesses up to 100 responses cost $9.99 per month, billed annually.

Conduct Market Research for a Successful Product Launch

Conducting market research is essential to a successful product launch to market.

With the tools I’ve just introduced you to, you can find out who’s looking for your product, why they need it, and how you can better market whatever you’re looking to launch.

Editor's note: This post was originally published in April 2016 and has been updated for comprehensiveness.

Don't forget to share this post!

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Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

How to Conduct Online Market Research

In 2011, when Ron Johnson became the CEO of JCPenney, he was already a veteran business executive. 

For 15 years, he’d been vice president of merchandising at Target, then worked 11 more years as senior vice president of retail at Apple.

Naturally, JCPenney felt confident when Johnson decided to completely overhaul their business and eliminate all coupons, promotions and sales events.

But instead of growth, JCPenney started tanking. Sales numbers dropped. Customers were lost. Forbes eventually called this an “epic rebranding fail” .

Why did things go awry? Because Johnson didn’t understand the brand’s target audience. “I thought people were just tired of coupons and all this stuff,” he said in an interview. But it turned out that JCPenney customers loved coupons and sales!

The takeaway from this whole mess is that we shouldn’t assume we know what customers want.

Instead, we should use both quantitative and qualitative research to drive our decisions. 

Moreover, we should aim to understand the market as a whole, especially the competitive landscape and emerging trends.

Fortunately, all this has never been easier, since now anyone can conduct market research online. 

What is the Purpose of Online Market Research?

Conducting proper online market research requires time and money. But investing those resources into ecommerce research makes sense for the following reasons: 

1. Get a deeper understanding of your target audience.

Knowing your target audience is critical for coming up with new product ideas , developing a winning marketing strategy and creating copy that converts .

Ecommerce personas also help ensure that you are speaking directly to the customer’s needs and satisfy all of their expectations. 

Keep in mind that while knowing the demographics of your target market is important, it’s not enough in and of itself. 

In addition to knowing who your target customers are, you should also understand what they think, feel and value.

Online market research, especially qualitative research, can help you delve into the internal motivators that prompt a purchase. 

2. Learn customer behaviors. 

Understanding how your target customers shop online can help you improve the usability of your website and provide a better customer experience . Every point of friction in the buyer’s journey reduces customer satisfaction and increases the likelihood of cart abandonment, lost up-sale or missed retention opportunity. 

Online market research can help you identify those points of friction and common deal-breakers. Then, use this know-how to simplify navigation, facilitate product discovery and improve conversion rates . 

3. Find new business opportunities. 

Lots of ecommerce business opportunities are out there that can make your company more successful:

New product development  

Cross-border sales

Subscription offerings

Or new business models  

Doing online business research and looking at the market data can help you uncover those opportunities that lie hidden in plain sight.

2 Types of Market Research 

The idea of doing “ecommerce market research” may be lofty. But when it comes to execution, you need to master just two research methods: 

1. Primary research. 

Primary research is data collection, done by you, using your internal resources.

Here are a few examples:

Online surveys and questionnaires.

In-person, in-depth interviews.

Online focus groups. 

In other words, with primary research, you are the one doing the data collection, then analyzing that data to extract actionable business insights.

2. Secondary research. 

Secondary research is using data and insights, produced by someone else.

Government statistics. For example, if you are in the healthcare industry, then the National Center for Health Statistics can be a valuable source of data.

Industry statistics. Statista is a great website for learning more about a particular market. The Big-4 accounting firms also conduct a ton of original industry research. 

Industry reports. For example, HubSpot publishes an annual “State of Marketing Report” in which they share their online marketing research and provide an overview of the latest industry trends. 

As such, with secondary research, someone else collects the data and then interprets it for you. 

Source: My Market Research Methods

How to Conduct Market Research 

Market research is essential for understanding the target demographics, market conditions and competition. 

Here’s how to do market research for ecommerce to collect high-quality and relevant insights about your target market. 

1. Conduct keyword research. 

Keyword research can help you figure out whether there’s a demand for the product that you want to sell online.

Even though high search volumes don’t mean the product’s idea is profitable, they do indicate genuine interest among consumers. 

Moreover, keyword research is also useful when you are working on your inbound marketing strategy since it allows you to pinpoint opportunities for generating organic traffic with search engine optimization (SEO) .

Some of the popular free keyword research tools are:

Google Keyword Planner .

Keyword Tool . 

Ubersuggest .

However, a premium tool such as Ahrefs or SEMRush provides business owners with deeper level insights. 

While Ahrefs is a sophisticated tool that might take time to master, you can learn how to do basic keyword research with it in just 10 minutes.

Simply watch the “Keyword Research Tutorial: From Start to Finish” video in which Sam Oh explains everything you need to know to get started. 

This tutorial is particularly helpful for ecommerce entrepreneurs because Sam uses a new ecommerce store that sells computers, computer parts, computer accessories and software to show the ropes of research. 

Here’s a quick summary:

Generate keyword ideas. Start by typing in a few broad keywords related to your business (e.g., “computer”), then go to “ Having same terms ” report to expand your list of ideas. Then filter those keyword ideas down, group them by search intent (informational, navigational, commercial, transactional) and evaluate their business potential. 

Analyze Google’s top ten search results. See which websites already rank for the target keyword. Pay attention to the content format. Consider using a similar type of content, but look for opportunities to improve upon the published posts. 

Assess how hard it will be to rank on Google for that keyword. Take a look at the number of referring domains and the domain ratings for the top ten search results. Competing with websites that have a similar domain rating (DR) to yours is the best strategy. 

Analyze topical relevance. See how your website compares to those in the top ten search results. Are you in the same industry? Is it a commercial domain? Is it a niche publisher, covering the topic exclusively? Doing so will give you more insights into the difficulty of ranking for that particular keyword. 

Reverse-engineer the topics that are driving traffic to your competitors’ websites. Go to Ahrefs Site Explorer, enter a competitor’s domain name and go to the top pages report. Then look at the traffic, the top keywords and the referring domains. 

Sam Oh also emphasizes that keyword research isn’t about search volume alone. Your goal is to find topics that potential customers are searching for, create educational content around them and soft-pitch your offers.

At the end of the day, traffic quality beats traffic quantity. When you are considering a particular keyword, ask yourself whether ranking for it will lead to more sales, not just extra traffic. 

2. Scope out the competition. 

You can learn a lot about a market by analyzing the competition, so figure out who your main competitors are and scrutinize them.

Note that even though you are doing market research for ecommerce, you shouldn’t only look at ecommerce businesses.

For example, LARQ sells water bottles online, but they are also competing against online marketplaces as well as niche online stores. Before launching the business, Justin Wang did a lot of market research to verify that there isn’t a direct competitor with the same offering.

Once you have a list of the key players in your industry, you should look into their:

Business model. How are they sourcing their products? Are they dropshipping or carrying inventory? Do they use third-party logistics (3PL) services? What is their pricing strategy? What is their marketing strategy? What is their returns policy? Jot down all the answers. 

Sales funnel. How do they attract potential customers to their website (content marketing, paid advertising, SEO, etc.)? How do they convert those site visitors into paying customers? Do they upsell? Cross-sell? Down-sell? Do they send automatic abandoned cart emails? You may want to go through their entire sales funnel to see how everything is set up. 

Website. Which type of ecommerce platform do they have? How long does it take for their site to load? Does their online store design look professional? What branding elements do they use? How does their checkout flow work (the number of steps, the number of field forms, etc.)? Overall, do they provide a satisfying user experience? 

Researching all this will help you determine:

What works. You shouldn’t outright copy your competitors. But there’s no need to reinvent the wheel either. Cherry-pick the best practices and apply those to your own business.

What doesn’t work. You might come across common frictions such as slow loading pages, confusing navigation, low-quality product images, etc. Take note of all that and make sure that you don’t make the same mistakes in your business. 

What can be optimized. When you dig into the logistics of a competitor’s business, you might uncover optimization opportunities that can then help you offer better products, lower prices and faster shipping. 

And don’t be intimidated by established companies.

Remember that even the largest corporations in the world, such as Google, Facebook and Amazon, were once fledgling startups.

You too can carve out a space for yourself in your industry. In fact, extensive market research is precisely what allows small businesses to compete against big companies. You just need to uncover something that will give you a competitive advantage. 

3. Research current trends. 

When you are doing product research for ecommerce, you should always look into the latest consumer trends. Use Google Trends to uncover those.

Here are the two questions that can help with online product research:

Is the interest in this product declining, stable or growing?

Is the interest in this product seasonal or does it remain the same all year?

Simply type in a relevant keyword and pick a time period.

For example, if you type in “artificial plants” and pick “Past 5 Years” as your timeframe, you will see that the interest in this keyword has been stable, with a noticeable increase in the last year.

A moderate but stable level of interest like that may indicate an opportunity for building a sustainable, long-lasting business. 

Check your assumption with a quick google search for such businesses. And yes, we have Autograph Foliages — a company that has been selling artificial plants for over 40 years! 

Also, when you see an upcoming trend, analyze it from different angles. For example, CBD is a promising new market with a diverse range of business opportunities . So rather than doing CBD-everything, consider niching down. 

Also, be wary when a trend has a crazy upward trajectory at the moment. Because a real-time spike in interest might turn out to be a short-lived fad. 

While it’s okay to capitalize on hot trends, you shouldn’t build your entire business around them. Make sure that your foundation is stable.

4. Utilize social media. 

Social media is a treasure trove of consumer insights. It’s the place where people broadcast their complaints, wishes, preferences and aspirations. But to find those golden nuggets of wisdom, you need to go on a deep dive. 

To avoid getting too deep down the internet rabbit hole, keep your online business research focused on: 

Following influencers in your industry . Analyze their opinions, conversations and past partnerships with brands.

Monitor relevant hashtags . Identify the most relevant hashtags for your products and then make it a habit to monitor them regularly.

Analyze competitor sentiment. Keep an ear on what people are saying about your competitors. This is a great way to figure out what their strengths and weaknesses are. Note that the most valuable information often lies in posts that mention a competing company or their products but don’t tag them. 

Text analysis can come in handy here. This machine learning technique helps analyze massive quantities of textual data and extract relevant information from it. 

For example, text analytics software could analyze all tweets with a specific hashtag. Then let you know whether the overall sentiment was positive or negative, which words appeared most frequently, etc. Investing in text analytics software would give you a much more accurate picture of the market and analyze a wider range of ideas shared online. 

Picking out the language your customers use — words, slang, metaphors — to express their preferences is a short-cut to writing better copy. By infusing the voice of customer data into your messaging, you make your pitches feel more personal and relevant. 

5. Build an online ecommerce store and test the waters. 

At some point, it’s time to move from theory to practice. Once you’ve accumulated enough insights, test your business idea by presenting it to the market. Ultimately, the target market response is the only thing that matters. 

Here’s how you should go about it:

Pick an ecommerce platform . Popular options include BigCommerce, Shopify, WooCommerce, Magento, etc. Do your research and pick a solution that suits your needs best. 

Set up your ecommerce website. You will need to sort out web design, write the copy and create product pages. You can do all this yourself or hire agency partners to help.

Drive traffic to your online store. SEO, content marketing and social media are all great, but they are long-term strategies that require time to work. Meanwhile, if you want to put your products in front of your target customers quickly, your best bet is performance marketing .

Don’t wait until everything is “perfect” to launch your business. 

In fact, doing so would be a mistake. Because without first hand feedback, you won’t be able to right-size your offer anyway. 

At launch, you need to make an educated guess based on your market research as to what will resonate with potential customers and then put your products in front of them. 

That way you will start learning what works and what doesn’t and will be able to adjust your approach accordingly as you grow your business. 

6. Leverage forums and customer feedback.

Niche online forums are another leeway into learning about your customers’ preferences. 

To get the best scoops, do the following: 

Find out which online forums are the most popular in your niche.

Register to those and check back regularly.

Contribute to the discussions to build up your credibility. 

Pose questions and engage in conversations to better understand your audience.

Alternatively, you can ask your current customers to provide feedback. 

That’s even easier to do: 

Send an online market survey using SurveyMonkey or Typeform to your most loyal buyers. 

Conduct one-on-one customer interviews. Ask super-fans to jump on 15-minute calls with you. People love to express their opinions and want to feel heard. So getting some respondents might turn out to be easier than you think!

Send automated emails asking for feedback. After you buy something from Amazon, you probably get an email asking you to rate it. You can do the same in your ecommerce business. In addition to receiving feedback on your products, you’ll also generate customer reviews.

And yes, you can also use text analytics software to analyze customer feedback, too. An automated solution can be especially helpful if there’s a lot of data (e.g., you want to go through all the customer emails that you have ever received!).

Finally, pay special attention to unsolicited customer feedback, even if it’s negative. People voicing their opinions online must have felt that something was important if they decided to go through the trouble of reaching out to you.

Wrapping Up 

We are tempted to think that we “just know” what our target customers want. 

But that’s how biases kick into our thinking. Rather than “guesstimating” what your target market wants, do the fieldwork and prove your assumptions. 

Use relevant quantitative and qualitative data to formalize what your target buyers like, dislike and miss. Then take action! 

Online Market Research FAQs

1. what is online market research.

Online market research is a type of market research that leverages two types of data available online — the data you own and the data published by others. Collecting and analyzing this type of information can help you learn more about your target audience and right-size your offerings. 

2. How do you do market research?

Market research consists of primary and secondary research. Primary research involves collecting data yourself through surveys, customer interviews and focus groups. Secondary research involves analyzing data that was collected by someone else, such as government statistics, industry statistics and industry reports. 

3. Why does market research help ecommerce success?

Market research allows you to understand your target audience better. And the better you understand your potential customers, the easier it is to come up with viable product ideas, write compelling copy and launch effective marketing campaigns. 

4. Can you conduct surveys to do market research?

Yes, surveys are a valuable market research tool. You can gather both quantitative and qualitative data that way, directly from your customers or prospects. Consider using survey software to streamline the process. 

5. Is Quora a great place to start for research?

Quora can be a great place to conduct market research because it lets you know exactly what your customers think. Consider subscribing to the topics relevant to your niche and participating in discussions.

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Market research is a cornerstone of all successful, strategic businesses. It can also be daunting for entrepreneurs looking to launch a startup or start a side hustle . What is market research, anyway? And how do you…do it?

We’ll walk you through absolutely everything you need to know about the market research process so that by the end of this guide, you’ll be an expert in market research too. And what’s more important: you’ll have actionable steps you can take to start collecting your own market research.

What Is Market Research?

Market research is the organized process of gathering information about your target customers and market. Market research can help you better understand customer behavior and competitor strengths and weaknesses, as well as provide insight for the best strategies in launching new businesses and products. There are different ways to approach market research, including primary and secondary research and qualitative and quantitative research. The strongest approaches will include a combination of all four.

“Virtually every business can benefit from conducting some market research,” says Niles Koenigsberg of Real FiG Advertising + Marketing . “Market research can help you piece together your [business’s] strengths and weaknesses, along with your prospective opportunities, so that you can understand where your unique differentiators may lie.” Well-honed market research will help your brand stand out from the competition and help you see what you need to do to lead the market. It can also do so much more.

The Purposes of Market Research

Why do market research? It can help you…

• Pinpoint your target market, create buyer personas, and develop a more holistic understanding of your customer base and market.
• Understand current market conditions to evaluate risks and anticipate how your product or service will perform.
• Validate a concept prior to launch.
• Identify gaps in the market that your competitors have created or overlooked.
• Solve problems that have been left unresolved by the existing product/brand offerings.
• Identify opportunities and solutions for new products or services.
• Develop killer marketing strategies .

What Are the Benefits of Market Research?

Strong market research can help your business in many ways. It can…

• Strengthen your market position.
• Help you identify your strengths and weaknesses.
• Help you identify your competitors’ strengths and weaknesses.
• Minimize risk.
• Center your customers’ experience from the get-go.
• Help you create a dynamic strategy based on market conditions and customer needs/demands.

What Are the Basic Methods of Market Research?

The basic methods of market research include surveys, personal interviews, customer observation, and the review of secondary research. In addition to these basic methods, a forward-thinking market research approach incorporates data from the digital landscape like social media analysis, SEO research, gathering feedback via forums, and more. Throughout this guide, we will cover each of the methods commonly used in market research to give you a comprehensive overview.

Primary vs. Secondary Market Research

Primary and secondary are the two main types of market research you can do. The latter relies on research conducted by others. Primary research, on the other hand, refers to the fact-finding efforts you conduct on your own.

This approach is limited, however. It’s likely that the research objectives of these secondary data points differ from your own, and it can be difficult to confirm the veracity of their findings.

Primary Market Research

Primary research is more labor intensive, but it generally yields data that is exponentially more actionable. It can be conducted through interviews, surveys, online research, and your own data collection. Every new business should engage in primary market research prior to launch. It will help you validate that your idea has traction, and it will give you the information you need to help minimize financial risk.

You can hire an agency to conduct this research on your behalf. This brings the benefit of expertise, as you’ll likely work with a market research analyst. The downside is that hiring an agency can be expensive—too expensive for many burgeoning entrepreneurs. That brings us to the second approach. You can also do the market research yourself, which substantially reduces the financial burden of starting a new business .

Secondary Market Research

Secondary research includes resources like government databases and industry-specific data and publications. It can be beneficial to start your market research with secondary sources because it’s widely available and often free-to-access. This information will help you gain a broad overview of the market conditions for your new business.

Identify Your Goals and Your Audience

Before you begin conducting interviews or sending out surveys, you need to set your market research goals. At the end of your market research process, you want to have a clear idea of who your target market is—including demographic information like age, gender, and where they live—but you also want to start with a rough idea of who your audience might be and what you’re trying to achieve with market research.

You can pinpoint your objectives by asking yourself a series of guiding questions:

• What are you hoping to discover through your research?
• Who are you hoping to serve better because of your findings?
• What do you think your market is?
• Who are your competitors?
• Are you testing the reception of a new product category or do you want to see if your product or service solves the problem left by a current gap in the market?
• Are you just…testing the waters to get a sense of how people would react to a new brand?

Once you’ve narrowed down the “what” of your market research goals, you’re ready to move onto how you can best achieve them. Think of it like algebra. Many math problems start with “solve for x.” Once you know what you’re looking for, you can get to work trying to find it. It’s a heck of a lot easier to solve a problem when you know you’re looking for “x” than if you were to say “I’m gonna throw some numbers out there and see if I find a variable.”

How to Do Market Research

This guide outlines every component of a comprehensive market research effort. Take into consideration the goals you have established for your market research, as they will influence which of these elements you’ll want to include in your market research strategy.

Secondary Data

Secondary data allows you to utilize pre-existing data to garner a sense of market conditions and opportunities. You can rely on published market studies, white papers, and public competitive information to start your market research journey.

Secondary data, while useful, is limited and cannot substitute your own primary data. It’s best used for quantitative data that can provide background to your more specific inquiries.

Find Your Customers Online

Once you’ve identified your target market, you can use online gathering spaces and forums to gain insights and give yourself a competitive advantage. Rebecca McCusker of The Creative Content Shop recommends internet recon as a vital tool for gaining a sense of customer needs and sentiment. “Read their posts and comments on forums, YouTube video comments, Facebook group [comments], and even Amazon/Goodreads book comments to get in their heads and see what people are saying.”

If you’re interested in engaging with your target demographic online, there are some general rules you should follow. First, secure the consent of any group moderators to ensure that you are acting within the group guidelines. Failure to do so could result in your eviction from the group.

Not all comments have the same research value. “Focus on the comments and posts with the most comments and highest engagement,” says McCusker. These high-engagement posts can give you a sense of what is already connecting and gaining traction within the group.

Social media can also be a great avenue for finding interview subjects. “LinkedIn is very useful if your [target customer] has a very specific job or works in a very specific industry or sector. It’s amazing the amount of people that will be willing to help,” explains Miguel González, a marketing executive at Dealers League . “My advice here is BE BRAVE, go to LinkedIn, or even to people you know and ask them, do quick interviews and ask real people that belong to that market and segment and get your buyer persona information first hand.”

Market research interviews can provide direct feedback on your brand, product, or service and give you a better understanding of consumer pain points and interests.

When organizing your market research interviews, you want to pay special attention to the sample group you’re selecting, as it will directly impact the information you receive. According to Tanya Zhang, the co-founder of Nimble Made , you want to first determine whether you want to choose a representative sample—for example, interviewing people who match each of the buyer persona/customer profiles you’ve developed—or a random sample.

“A sampling of your usual persona styles, for example, can validate details that you’ve already established about your product, while a random sampling may [help you] discover a new way people may use your product,” Zhang says.

Market Surveys

Market surveys solicit customer inclinations regarding your potential product or service through a series of open-ended questions. This direct outreach to your target audience can provide information on your customers’ preferences, attitudes, buying potential, and more.

Every expert we asked voiced unanimous support for market surveys as a powerful tool for market research. With the advent of various survey tools with accessible pricing—or free use—it’s never been easier to assemble, disseminate, and gather market surveys. While it should also be noted that surveys shouldn’t replace customer interviews , they can be used to supplement customer interviews to give you feedback from a broader audience.

Who to Include in Market Surveys

• Current customers
• Past customers
• Your existing audience (such as social media/newsletter audiences)

Example Questions to Include in Market Surveys

While the exact questions will vary for each business, here are some common, helpful questions that you may want to consider for your market survey. Demographic Questions: the questions that help you understand, demographically, who your target customers are:

• “What is your age?”
• “Where do you live?”
• “What is your gender identity?”
• “What is your household income?”
• “What is your household size?”
• “What do you do for a living?”
• “What is your highest level of education?”

Product-Based Questions: Whether you’re seeking feedback for an existing brand or an entirely new one, these questions will help you get a sense of how people feel about your business, product, or service:

• “How well does/would our product/service meet your needs?”
• “How does our product/service compare to similar products/services that you use?”
• “How long have you been a customer?” or “What is the likelihood that you would be a customer of our brand?

Personal/Informative Questions: the deeper questions that help you understand how your audience thinks and what they care about.

• “What are your biggest challenges?”
• “What’s most important to you?”
• “What do you do for fun (hobbies, interests, activities)?”
• “Where do you seek new information when researching a new product?”
• “How do you like to make purchases?”
• “What is your preferred method for interacting with a brand?”

Survey Tools

Online survey tools make it easy to distribute surveys and collect responses. The best part is that there are many free tools available. If you’re making your own online survey, you may want to consider SurveyMonkey, Typeform, Google Forms, or Zoho Survey.

Competitive Analysis

A competitive analysis is a breakdown of how your business stacks up against the competition. There are many different ways to conduct this analysis. One of the most popular methods is a SWOT analysis, which stands for “strengths, weaknesses, opportunities, and threats.” This type of analysis is helpful because it gives you a more robust understanding of why a customer might choose a competitor over your business. Seeing how you stack up against the competition can give you the direction you need to carve out your place as a market leader.

Social Media Analysis

Social media has fundamentally changed the market research landscape, making it easier than ever to engage with a wide swath of consumers. Follow your current or potential competitors on social media to see what they’re posting and how their audience is engaging with it. Social media can also give you a lower cost opportunity for testing different messaging and brand positioning.

SEO Analysis and Opportunities

SEO analysis can help you identify the digital competition for getting the word out about your brand, product, or service. You won’t want to overlook this valuable information. Search listening tools offer a novel approach to understanding the market and generating the content strategy that will drive business. Tools like Google Trends and Awario can streamline this process.

Ready to Kick Your Business Into High Gear?

Now that you’ve completed the guide to market research you know you’re ready to put on your researcher hat to give your business the best start. Still not sure how actually… launch the thing? Our free mini-course can run you through the essentials for starting your side hustle .

About Mary Kate Miller

Mary Kate Miller writes about small business, real estate, and finance. In addition to writing for Foundr, her work has been published by The Washington Post, Teen Vogue, Bustle, and more. She lives in Chicago.

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Conducting Online Market Research: Tips and Tools

How to use online market research tools, including search techniques and tips for using the internet for researching your competition and market..

Your may alread y be conducting online market research for your business-;but you may not know it. Some of the easiest to use and most common tools are located right at your fingertips. Web searches, online questionnaires, customer feedback forms-;they all help you gather information about your market, your customers, and your future business prospects.

The advent of the Internet has presented small businesses with a wealth of additional resources to use in conducting free or low-cost market research. The following pages will describe the different types of tools to conduct online market research, go over the general categories of market research, and advise you how to create the best online questionnaires.

Online Market Research Tools

The following techniques can be used to gather market information with the help of a few mouse clicks and keystrokes:

• Keyword Search. You know how to do a simple Web search using search engines such as Google and Yahoo. Take that a step farther by searching for "keywords" that people would use to find your type of products or services on the Internet. See how much interest there is in these keywords -- and how many competitors you have in this market. Keyword searches can also help remind you of product niches that you might not have considered. There are other reasons to conduct keyword searches. 'First, you're going to be reminded of product niches that you might not of thought of.' says Jennifer Laycock, editor-in-chief of Search Engine Guide, an online guide to search engines, portals and directories. 'Second, these services will also give you a guesstimate of how many existing sites already use that phrase,' Laycock continues. 'How many existing sites already offer that product.' WordTracker and Trellian's Keyword Discovery are popular keyword search engines.
• Competitor Links. A traditional search engine can also help you check out your competitors, their prices, and their offerings. Try typing 'link:www.[competitor's name].com' into Google to find out how many other sites link to your competitor's website. 'It is a great way to see a competitor's link development and PR campaigns,' says Shari Thurow, Web expert and author of the upcoming book Search Engine Visibility. 'Is the competitor promoting a product or service similar to your own? Maybe you can get publicity because you have a new or better product.'
• Read Blogs. Blogs are updated much more regularly than traditional websites and, therefore, they can be another gauge of public opinion. Search blogs by using blog-specific search engines, such as Technorati or Nielsen BuzzMetrics' Blogpulse . 'Blogs tend to move at a faster pace and be more informal in tone, so you're more likely to pick up conversation about a new product type or need on a blog than on a standard web site,' Laycock says.
• Conduct Online Surveys. Another way to gauge public opinion is through online surveys. While not as scientific as in-person or phone surveys that use a random sampling of the population, online surveys are a low-cost way to do market research about whether an idea or a product will be appealing to consumers. Now many companies offer to conduct online research for you or give your company the tools to carry out your own surveying. Some online survey companies include EZquestionnaire , KeySurvey , and WebSurveyor .

Research Tools and Techniques

There are a variety of types of market research tools -- both offline and online -- that are used by many large businesses and can be available to small and mid-sized businesses. When these techniques involve people, researchers use questionnaires administered in written form or person-to-person, either by personal or telephone interview, or increasingly online. Questionnaires may be closed-end or open-ended. The first type provides users choices to a question ("excellent," "good," "fair") whereas open-ended surveys solicit spontaneous reactions and capture these as given. Focus groups are a kind of opinion-solicitation but without a questionnaire; people interact with products, messages, or images and discuss them. Observers evaluate what they hear.

Major categories are as follows:

• Audience Research. Audience research is aimed at discovering who is listening, watching, or reading radio, TV, and print media respectively. Such studies in part profile the audience and in part determine the popularity of the medium or portions of it.
• Product Research. Product tests, of course, directly relate to use of the product. Good examples are tasting tests used to pick the most popular flavors-;and consumer tests of vehicle or device prototypes to uncover problematical features or designs.
• Brand Analysis. Brand research has similar profiling features ("Who uses this brand?") and also aims at identifying the reasons for brand loyalty or fickleness.
• Psychological Profiling. Psychological profiling aims at construction profiles of customers by temperament, lifestyle, income, and other factors and tying such types to consumption patterns and media patronage.
• Scanner Research. Scanner research uses checkout counter scans of transactions to develop patterns for all manner of end uses, including stocking, of course. From a marketing point of view, scans can also help users track the success of coupons and to establish linkages between products.
• Database Research. Also known as database "mining," this form of research attempts to exploit all kinds of data on hand on customers-;which frequently have other revealing aspects. Purchase records, for example, can reveal the buying habits of different income groups-;the income classification of accounts taking place by census tract matching. Data on average income by census tract can be obtained from the Bureau of the Census.
• Post-sale or Consumer Satisfaction Research. Post-consumer surveys are familiar to many consumers from telephone calls that follow having a car serviced or calling help-lines for computer- or Internet-related problems. In part such surveys are intended to determine if the customer was satisfied. In part this additional attention is intended also to build good will and word-of-mouth advertising for the service provider.

Writing Online Questionnaires

When it comes to using Web-based surveys, small businesses should stick to a few simple but important rules:

• The Shorter the Better. Don't alienate survey takers with long questionnaires. Limit yourself to 25 questions, which should take people five to seven minutes to finish, says Mary Malaszek, owner of Market Directions, a Boston market-research firm that works with businesses of all sizes. If surveys are much longer, people will abandon them 'and then you can't use them, and the next time you send them a survey they won't even open it,' she says. Other methods for keeping surveys short, according to a SensorPro white paper on online survey guidelines: make the first page simple, present answer options in multiple columns or a drop-down box, and put a status bar at the top of each question page so respondents know how close they are to being finished.
• Avoid Open-Ended Questions. Since people want to zip through a survey, don't include a lot of open-ended questions where they have to type out the answers. Close-ended questions they can click on a button to answer-;Yes, No, Maybe, Never, Often-;work much better, Malaszek says. Companies can use close-ended questions to get the same kind of in-depth analysis open-ended questions provide by using rankings scales, which ask a respondent to rate something on some type of scale, 1 to 5, or 1 to 10, she says.
• Be Persistent. If you're asking customers or vendors to take a survey, it's okay to send more than one invitation, especially to people who've previously indicated they would be willing to participate. Just make sure you've got people's permission, so they don't think you're spamming them, the survey experts say.
• Be Patient. Businesses decide they want to do a survey then get impatient when they can't get the results right away, Malaszek says. Even though online surveys reduce some of the work, they take time to design and administer, and when the results are in, more time to interpret. It's a good idea to pick one person to shepherd the process, she says.

BIBLIOGRAPHY

Brown, Damon. "Using the Web for Market Research." IncTechnology.com, October, 2006.

Clegg, Alicia. "Market Research: Through the looking glass." Marketing Week. 16 March 2006.

Mariampolski, Hy. Qualitative Market Research: A Comprehensive Guide. Sage Publications, 21 August 2001.

McQuarrie, Edward F. The Market Research Toolbox: A Concise Guide for Beginners. Sage Publications, 15 June 2005.

Rafter, Michelle V. "Web Surveys: Taking the Pulse of Customers." IncTechnology.com. June, 2008.

U.S. Small Business Administration. Small Business Planner section on market research .

Vincour, M. Richard. "When Your Customer Speaks, Listen." American Printer. 1 April 2006.

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18 Best Places to Take Paid Online Surveys (Up to $50/hr)

Our readers always come first.

The content on DollarSprout includes links to our advertising partners. When you read our content and click on one of our partners’ links, and then decide to complete an offer — whether it’s downloading an app, opening an account, or some other action — we may earn a commission from that advertiser, at no extra cost to you.

Our ultimate goal is to educate and inform, not lure you into signing up for certain offers. Compensation from our partners may impact what products we cover and where they appear on the site, but does not have any impact on the objectivity of our reviews or advice.

Surveys offer a legitimate way to earn money on the side. Here are the best sites and a few tips so you can make the most of your time.

• Side Hustles
• Online Surveys

Our mission at DollarSprout is to help readers improve their financial lives, and we regularly partner with companies that share that same vision. If a purchase or signup is made through one of our Partners’ links, we may receive compensation for the referral. Learn more here .

Taking paid surveys online is an easy task you can do to earn money in your spare time.

Survey companies work with businesses that need feedback about new ideas or products before they hit the market. Survey takers earn cash for answering questions that will help brands improve their products.

Filling out surveys for cash can be worth your time if you sign up for the right survey sites and implement a few helpful tips.

All you need is an internet connection and a computer or mobile device to get started.

Best Sites to Take Paid Surveys

Registering with too many companies can lead to contact overwhelm, making it difficult for you to find the best opportunities. Rather than sifting through the myriad of options, stick with the ones that fit your demographics and availability. 

1. Branded Surveys

Branded Surveys holds a 4.1 out of 5-star rating with Trustpilot with over 82,000 user reviews. The parent company, Branded Research, has been conducting market research since 2012.

When you register as a new member , you’ll earn 50 points, then another 50 points will be credited to your account after filling out your profile (a $1 sign up bonus in total).

Once your account is created, you can immediately start taking surveys, which can be worth up to $5 each. After you reach 500 points (equal to $5 USD), you can cash out your earnings in your local currency (USD, CAD, GBP).

Branded Surveys’ loyalty program, Branded Elite, offers the opportunity for anyone to earn bonus points on a weekly basis. You can increase your bonus amount by advancing through Bronze, Silver, and Gold tiers. To advance, you must complete a certain number of approved surveys, and your bonus is based on your badge level.

I earned $7.41 and nearly reached the Silver badge tier within the first 2 hours of using the platform. 

Additional ways to collect Branded Survey points include inviting friends to join, taking the daily poll, ranking on the leaderboard, and being randomly selected for up to 1,000 points. Learn more about my experience in our Branded Surveys review .

• Where it’s available: United States, Canada, and the UK
• Age requirements: 16+ years old
• Average earnings: $0.50 to $3 per survey
• Payment method: Branded Pay (direct deposit in the United States), PayPal cash, gift cards, prepaid Visa card, or charitable donations
• Minimum to cash out: 500 points

   Trust: ★★★★★

   # of Surveys: ★★★★☆

   Compensation: ★★★★★

   Cash out process: ★★★★★

2. Swagbucks

Swagbucks is a paid survey site owned and operated by Prodege, LLC. Perhaps the most popular survey site in the world, it holds a 4.4 rating on the App store with 112,000+ reviews, and a 4.2 rating on Google Play with an additional 139,000 reviews. 

Completed surveys pay between 1 and 350 Swagbucks (also called SBs), depending on the length and topic popularity. For every 100 SBs, you’ll earn an additional $1 that can be redeemed for PayPal cash or gift cards to places like Amazon, Lowe’s, and Target.

New Swagbucks members will receive a $10 signup bonus after spending at least $25 at one of the site’s featured retailers like Amazon, Best Buy, or Walmart.

Paid online surveys are not the only way to make money with Swagbucks. The company awards its members SBs to shop online, search the web , and watch videos. You can start redeeming your earnings as soon as you reach 100 points.

In three days of passively using the platform, I accrued 256 points — roughly equivalent to $2.56. Over a thirty-day period with a similar effort, I’d expect to earn around $25.

The more SBs you accumulate, the higher the value of the gift card you can redeem. You can unlock more store options and find gift cards to places like Starbucks, Walmart, and iTunes. Learn more about my experience in in our Swagbucks review .

• Where it’s available: Most countries in the Americas, Asia, and Europe, and some areas in Africa
• Age requirements: 13+ years old
• Average earnings: $0.40 to $2 per survey
• Payment method: PayPal cash or gift cards
• Minimum to cash out: $1 in gift cards or $5 in PayPal cash

3. InboxDollars

InboxDollars has been in business since 2006 and was acquired by Prodege, LLC back in 2019. They hold a B rating with the BBB. According to its website, the company has paid more than $80 million to its members.

InboxDollars users accumulate earnings in cash instead of points, which makes it easy to know how much you’ll earn before committing to a task. Most paid opportunities offer a small amount of money, but the more surveys you take, the more you can earn. 

It’s free to sign up and get started with InboxDollars, and you will get a $5 bonus once you activate your account. You’ll then answer a few simple questions about your income, race, education, and other demographic information. This initial screening will help InboxDollars match you with relevant paid surveys.

Other ways you can earn money with InboxDollars include watching video ads , playing games, and shopping online at stores like Target, Walmart, and eBay.

I earned mere pennies playing the games currently available over the course of 30 minutes but brought in $1.50 taking the paid surveys available to me after registering (l earn more about the experience in our InboxDollars review ) .

• Where it’s available: United States, United Kingdom (InboxPounds)
• Age requirements: 18+ years old
• Average earnings: $0.50 to $5.00 per survey and up to $10 and $20 or more for people in certain demographics
• Payment method: PayPal, e-gift cards, prepaid Visa card, charitable donation, or check in the mail
• Minimum to cash out: $15

Trust: ★★★★☆

# of Surveys: ★★★★☆

Compensation: ★★★★☆

Cash out process: ★★★☆☆

4. Ipsos i-Say

Ipsos i-Say is a survey site based in Paris, but it allows users around the world to get paid to take surveys. It has an A+ rating with the Better Business Bureau and a 4.7-star rating on Google Play with over 32,000 reviews.

You can register with Ipsos i-Say by creating an account using either your email address or Facebook account. You’ll then answer some demographic questions so the company can connect you to relevant opportunities. For example, if you’re a new mom, you may see a survey asking about which diapers you use.

After you complete a survey, you’ll earn points. How much you earn varies, but it’s typical to earn between 45 to 90 points per survey, or $0.45 to $0.90. You can also earn up to five points if you’re disqualified from taking a survey. Once you reach 500 points, you can cash out your earnings for PayPal cash, gift cards, or charitable donations. 

I’ve found Ipsos iSay to be one of the more reliable survey providers and consistently hit the $5 per hour threshold in terms of survey earnings. This is among the highest in the industry, especially for a site that only provides surveys and little to no other ways to earn. 

You can learn more about my experience in our Ipsos i-Say in our review . 

• Where it’s available: United States, Canada, Australia, UK, and Singapore 
• Average earnings: $0.45 to $0.90 per survey
• Payment method: PayPal, gift cards, prepaid Visa gift cards, or charitable contribution
• Minimum to cash out: $5

   Trust: ★ ★ ★ ★☆

   # of Surveys: ★★★☆☆

   Compensation: ★★★☆☆

   Cash out process: ★ ★ ★ ★☆

5. LifePoints

Originally known as National Family Opinion, LifePoints has been around since 1946 and has more than 5 million members around the world. Trustpilot gives the company a 4.1 out of 5-star rating based on 38,000 real member reviews.

You can become a member for free and start earning LifePoints by taking online surveys. You’ll get an immediate 10 LifePoints added to your account when you verify your email address and provide basic information like your name, date of birth, and address. Filling out a complete profile will allow you to view and select surveys that fit your demographic.

LifePoints survey topics range from technology to automobiles, to household brands, and more. Some surveys pay up to 600 points, or $5 each, but most opportunities pay between $0.50 and $1 to complete. We share more about the paid opportunities with the company in our LifePoints review .

• Where it’s available: United States, India, South Africa, Mexico, Hong Kong, China, and 35 more countries.
• Average earnings: $0.50 to $1 per survey
• Payment method: PayPal, e-gift cards, or charitable donations
• Minimum to cash out:  $5

   # of Surveys: ★★★★★

   Compensation: ★★★★☆

   Cash out process: ★★★★☆

6. Freecash

More a survey aggregator, Freecash.com is a “get paid to” (GPT) site that partners with several reputable survey providers like Pollfish and Bitlabs, allowing users to make money taking surveys online.

What makes the platform appealing is that surveys are just one of several ways to make an extra — or several hundred — buck(s). Testing apps or websites, signing up for offers, and taking quizzes are but a few of the many other ways users can earn. In fact, they have over 5,000 different offers users can complete to unlock free cash.

New users will earn a free $1 merely for creating an account and verifying their email address, and get to open a “Free Case” for a chance to win $250 more. 

While not all of them will be relevant to you, it’s not uncommon to see some tasks with earnings of $100 or more, assuming the exact criteria or met. 

Learn more in our Freecash review .

• Where it’s available: International users welcome
• Average earnings: $0.10 to $1 per survey
• Payment method: PayPal, bank transfer, gift cards, crypto
• Minimum to cash out: 250 coins ($0.50)

   Trust: ★★★★☆

7. Pinecone Research

After 21 years in business, Pinecone Research has earned a spot among some of the highest-rated paid survey sites. Pinecone Research is owned by The Nielsen Company, which holds a rating of A+ with the BBB.

Pinecone Research members influence future products and services every time they complete an online survey. Each survey pays 300 points, worth $3, and should take only a few minutes, according to the company.

You can also get paid to test new products as a member of Pinecone Research. You’ll be paid between $3 and $5 to complete a short report on each product. You might even be allowed to keep the product after the study is complete.

Pinecone Research is one of the more elite survey sites and limits its members based on demographics. You can apply for membership to see if you qualify.

• Where it’s available: United States, United Kingdom, Canada, and Germany
• Average earnings: $3 per survey
• Payment method: A check in the mail, PayPal, or gift cards
• Minimum to cash out:  $1

8. Survey Junkie

Survey Junkie is another leader in the survey industry, with a BBB rating of B. The company has been in business since 2011 and serves more than 20 million members.

Survey Junkie is best known for the basics and mainly offers paid survey opportunities. This site tracks earnings in the form of points. Every 100 points equals $1 earned, and it takes a minimum of 500 points (or $5) to cash out via PayPal or with e-gift cards.

The site does offer some users the chance to earn money testing products, participating in online or in-person focus groups , or via phone surveys. It pays between $5 and $150 per task, but that option is extremely limited at this time.

Start making money within five minutes when you sign up and complete your profile . Most of the surveys are fairly easy to complete. You also won’t be forced to sign up for something or buy anything in order to complete a survey.

Our favorite part about the platform is that they award you a nominal number of points even if you’re disqualified from a survey. You won’t earn the full amount displayed, but it’s better than zero return on your time, as is the case with many other survey sites. 

Learn more in our Survey Junkie review .

• Where it’s available: United States, Canada, and Australia
• Payment method: PayPal cash in all countries, or e-gift cards and direct bank transfers in the United States

9. American Consumer Opinion

American Consumer Opinion (ACOP) is owned by Decision Analyst, Inc. which has been in business for more than 41 years. The BBB gives this site an A+ rating.

When you sign up for an account with ACOP, you can start your first paid survey in under two minutes. Your first survey pays five points and includes questions regarding your demographic information like marital status and education level. If there are surveys available, you will see them listed in your account.

ACOP keeps things simple and offers nothing more than surveys for money. The company accumulates your earnings in points, and you’ll need to earn 1,000 points, or $10, to cash out.

• Where it’s available: Worldwide
• Age requirements: 14+ years old
• Average earnings: $0.05 to $0.50 per survey
• Payment method: PayPal cash, Hyperwallet, sweepstakes entry, or a charitable donation
• Minimum to cash out: $10

10. MyPoints

MyPoints, owned by Prodege, LLC, has been in business since 1996, holds a B rating with the BBB, and has paid out more than $236 million to its 10 million members.

With MyPoints , you can take online surveys for money, but the site also has other paid gigs. These include shopping online and in-store, printing and redeeming coupons, watching videos, playing games , and booking travel accommodations. It also gives you five points if you are not qualified to take a survey, with a maximum of 25 disqualification points per day.

All of your earnings through MyPoints accumulate in points. You can claim a $3 gift card once your account reaches 480 points. Or for 15,800 points, you can get a $500 gift card.

Note that points may stretch further depending on where you redeem them. Redeeming points for a prepaid Visa card requires a minimum of 1,500 and is worth 150 points per dollar, or $10.

MyPoints gives $10 Amazon or Visa gift cards to new users. You’ll need to spend $20 or more using MyPoints shopping to redeem this bonus.

• Where it’s available: United States and Canada
• Average earnings: $0.35 to $0.55 per survey
• Payment method: PayPal cash, gift cards, and e-gift cards, or redeem for travel miles
• Minimum to cash out:  $10

Toluna is a market research firm that’s been in business since 1994. It has an A+ BBB rating and a 3.7-star rating on Trustpilot from 10,000 member reviews. 

After you sign up for a free account, you’ll receive a confirmation link in an email that, once you click, will finalize your registration and allow you to start taking surveys. You’ll also earn 500 bonus points just for signing up . 

Each survey Toluna offers is worth between 15 and 50,000 points, depending on the length and time needed to complete the survey. Like other sites, you will have to qualify for surveys. If you don’t qualify, you don’t receive disqualification points. Instead, you’re entered into a sweepstakes. 

The minimum points you need to redeem a reward is 10,000, which lets you plant a tree in Peru, Thailand, or Uganda. For gift card rewards, 30,000 points will get you a $10 gift card to major retailers like Starbucks, Petco, and Kohl’s.

• Where it’s available: 21 countries include the United States, Canada, the United Kingdom, France, and Mexico
• Average earnings: 15 to 50,000 points per survey
• Payment method: Gift cards or sweepstakes entries 
• Minimum to cash out: 10,000 points

   Trust: ★★★☆☆

   Cash out process: ★★★☆☆

12. Survey Club

Survey Club has been around since 2005 and has an A- rating with the BBB. If you sign up as a member, you’ll join more than 16 million other users.

After you become a member and provide your demographic information, Survey Club will connect you with paid studies. It also refers members to other sites like Survey Junkie, LifePoints, and Pinecone Research. Your earnings from surveys hosted by Survey Club are added to your account in cash, and you can cash out when you earn at least $25.

Survey Club also provides paid focus group opportunities. It reports the average earnings of those who participate as $50 to $200 per hour.

• Where it’s available: United States, Canada, United Kingdom, and Australia
• Average earnings: $0.10 to $5 per survey
• Payment method: Cash, gift cards, prepaid debit cards, cash sweepstakes, prize drawings, and charitable contributions
• Minimum to cash out: $25

   Cash out process: ★★★ ☆ ☆

13. KashKick

In addition to surveys, KashKick pays users for watching videos, surfing the web, and signing up for deals through the platform.

Surveys are on par with industry standard, with opportunities to earn upwards of $2 per completed questionnaire. Payments are processed every two weeks, and you need at least $10 before you can cash out via PayPal.

The primary complaint from former users is losing earnings for inactivity. If you fail to verify your email address, provide incorrect contact information, or don’t log into your account for 60 days, your account might be deactivated. In this case, any earnings you had will be forfeited.

You can reactivate your account within 60 months, but you can’t get back any previous earnings. KashKick wiped inactive accounts right before processing payments, so be sure to log in regularly and verify your email address so you don’t lose your rewards.

• Where it’s available: United States
• Average earnings: $0.20 to $2 per survey
• Payment method: PayPal (payouts every two weeks)

   Trust: ★ ★ ★☆ ☆

A globally recognized survey site, YouGov allows users to share their opinions on politics, public affairs, products, and brands. Unique for its focus on current events and societal issues, YouGov provides an engaging platform for those interested in influencing decision-makers and contributing to public discourse.

For example, YouGov has had data from dozens of polls shared across massive networks like CBS News, Politico, Yahoo, and more, across a variety of topics. Trump and Biden head-to-head numbers, support for IFV, where Haley voters will fall after her dropout, and the Israel-Hamas war are but a few recent hot-button topics they’ve shared data on. 

Members earn points for completing surveys, which can be redeemed for various rewards, including cash and free gift cards . Earnings vary based on survey length and complexity, with YouGov offering a transparent and straightforward platform for users to voice their opinions and earn rewards. New members get a free 1,500 welcome bonus for signing up. 

• Where it’s available: 75+ Countries ( See list ) 
• Average earnings: $0.50 to $1.50 per survey
• Payment method: Direct deposit or gift cards
• Minimum to cash out: $15 (gift card)

   Trust: ★★ ★★ ☆

   # of Surveys: ★★ ★☆ ☆

15. Crowdtap

Used by more than 2 million members, Crowdtap is a popular paid survey site because it offers more ways to earn than just taking surveys. Member users can also earn points by participating in online discussions, product testing, art and other content submissions, research programs, and more. 

To get started, merely register for a free account . After completing the registration process, you’ll receive an email confirmation. After that, you can begin earning points by taking surveys you qualify for.

Most surveys are worth $0.25 to $0.75, but their homepage suggests you can find surveys for $25, $50, or even more. I recently took surveys for about 90 minutes and earned 1,000 points, good for a $5 gift card, but earnings of just $3.33 per hour. 

That said, one nice thing about Crowdtap is its low minimum withdrawal threshold. Once you reach the minimum threshold of 500 points, you can cash out for e-gift cards to popular retailers. Learn more about my experience in our Crowdtap review . 

• Age requirements: 13+
• Average earnings: $0.25 to $0.75 per survey
• Payment method: E-gift cards 

16. PrizeRebel

Since its debut in 2007, PrizeRebel has paid more than $19 million to its 9 million members.

PrizeRebel’s signup process is quick to complete. You just need to provide your name and email address. After confirming your email address, you can start taking paid online surveys. The first required survey asks for your demographic information and is worth 10 points.

You can cash out when you’ve earned at least 500 points, worth $5. Most surveys pay between 40 and 60 points and can take up to 15 minutes to complete.

PrizeRebel has a unique program that awards members based on the level of earnings. If you earn 4,500 points, you’ll reach Gold level status and receive a 1% bonus to your earnings and a 1% discount on your prize. Platinum level (10,000 points) gets you a 2% bonus and a 2% discount, and Diamond level (16,000 points) gets you a 3% bonus and a 3% discount.

• Where it’s available: United States, United Kingdom, Canada, or Australia
• Age requirements: 16 or 17 years old with parental permission, or 18+ years old without
• Average earnings: $0.40 to $0.60 per survey
• Payment method: PayPal, physical or e-gift cards, or direct deposit into your bank account

17. Opinion Outpost

To get paid to take surveys with Opinion Outpost, you will need to complete the initial screening . You’ll have to answer questions about things like your education level, work status, and the number of children you have. Then you’ll complete a questionnaire based on recent events like whether you’ve taken your pet to the vet or watched a movie in theaters. Opinion Outpost will ask duplicate questions along the way to make sure you’re answering honestly.

Most surveys are worth 3 to 30 points. You can cash out for free Amazon gift cards or $10 iTunes or App Store gift cards, or a $10 PayPal credit. Alternatively, at 30 points you can unlock games on Alawar.com or join the MileagePlus Program to use your points toward travel credits. You’ll need at least 105 points to receive 300 Award Miles.

Opinion Outpost offers some of the highest-paying surveys we’ve found. I recently completed a shopping and retail survey and earned $2.50 in under 30 minutes. The biggest con we’ve discovered is that the number of surveys users are eligible for is lower than that of other paid online survey sites we’ve used. Learn more in our Opinion Outpost review .

On a philanthropic note, every month Opinion Outpost makes a donation to the American Red Cross in honor of the time its users take to complete surveys. Its corporate donation does not impact your points balance, but you can use your points to make a separate donation if you’d like.

• Where it’s available: United States, United Kingdom, Canada, Italy, Spain, and Germany
• Average earnings: $0.30 to $3 per survey
• Payment method: PayPal, Amazon gift cards, and Apple App Store and iTunes gift cards, UnitedMileagePlus points, gaming credits, or charitable donation
• Minimum to cash out:  $5 for an Amazon gift card or $10 for PayPal

18. Panda Research

Panda Research has paid out more than $2.2 million to its members since 2005. The company is owned by A&A Marketing, Inc. and has a B+ rating with the BBB.

To get started, you’ll need to complete your member profile and confirm your email address. The company also requires a valid phone number to become a member. Then, you can take surveys that pay up to $50 each. You can also earn up to $25 per time you cash out for reading paid emails.

Panda Research pays members with earnings of at least $50 on the 1st and 15th of each month via PayPal. Note that you will only receive your payments in increments of $50, so if you have total earnings of $110, you will be able to cash out $100 and the balance will carry over to a future payment request.

• Average earnings: $0.10 to $50 per survey
• Payment method: PayPal
• Minimum to cash out:  $50

When to Avoid a Survey Site

Although the sites on our list are trustworthy, you can’t trust every site that claims to pay you to take surveys. Avoid survey sites if they:

🚫 Ask for payment. A legitimate survey site will never ask you to pay to join.

🚫 Ask for private information upfront . You should not be asked to provide your Social Security number unless you’ve earned at least $600.

🚫 Have no history or ratings . Well-established companies are more trustworthy. You can read what real users have to say about them and verify their history of payments and available opportunities.

🚫 Pay too little . Legitimate companies will have some higher-paying opportunities worth completing.

🚫 Have a glitchy or outdated site . Companies that don’t take care of their websites may not take care of their members.

🚫 Make it hard to qualify for surveys . Don’t waste time on a company if it consistently disqualifies you for surveys.

Even if the site seems legitimate, if you’re skeptical about it or it spams you with emails, remove yourself from its list. There are enough quality survey-taking opportunities available that you can avoid ones that annoy you or aren’t a good fit.

Related: 6 Common Work-from-Home Scams to Look Out For

Tips for Earning the Most Money

There are a number of things you can do to maximize your earnings when taking surveys for money.

✅ Stick with a few trusted sites. You don’t have to sign up with hundreds of survey sites to earn some cash. Focus on the best, highest-paying options.

✅ Fill out your profile completely. Completing your personal profile on each survey site allows the company to match you with relevant offers. Update your profile if you have a life change, like having a baby, getting a pet, or quitting smoking. You might find yourself eligible for new or different surveys.

✅ Watch the time. Keep track of the time spent completing surveys. You’re not likely to earn a high hourly rate completing easy surveys so, if possible, do surveys when you have small windows of time, like when you’re standing in line to fill a prescription or waiting for a meeting to start.

✅ Answer consistently. Take the time to read each question and respond honestly and consistently across sites. Survey sites compare answers and can disqualify users who appear to be inconsistent in their responses.

✅ Check for free offers. Some survey sites have a “free offers” section where you can earn points for signing up for free trials or newsletters. You can also watch for exclusive bonus opportunities on social media and refer friends to your favorite sites to earn free money or bonus points.

✅ Take the highest-paying surveys first. If you register with multiple websites, you might receive dozens of surveys to choose from. Take a few minutes to estimate your earnings per hour before you start a survey. You may be able to make more by picking the highest-paying opportunities first.

Best Practice for Taking Paid Online Surveys

Even if a survey site is trustworthy, there are still precautions you should take.

• Use a separate email address. Creating a separate email address for survey offers will keep your work and personal inboxes clear of clutter. Plus, if you stop doing surveys, you can stop checking that email account instead of unsubscribing from a bunch of sites.
• Be mindful of what you share. Good survey companies will keep your individual identity a secret. But that doesn’t make it safe to provide them with your Social Security number, driver’s license number, or bank account numbers. Legitimate survey companies do not need this information.
• Use anti-malware software. Anti-malware software can keep your laptop virus-free. If you visit multiple survey sites per day, it’s important to protect your computer from malicious spyware and viruses.
• Take frequent breaks. Completing surveys can be tedious. Take frequent breaks from your screen so that you’re not tempted to rush through surveys and provide wrong or inconsistent answers.
• Fees and false promises. Any survey site that promises you’ll earn thousands per month is either a scam or at least misleading. Make sure the sites you join make realistic statements about your potential earnings and the amount of time it takes to complete surveys. 

Keep Your Expectations Realistic

Paid online surveys are the perfect side hustle for someone looking for an easy gig to do while at home or on the go. If you’re uncomfortable sharing your demographic information or want to earn a high hourly rate, you should consider a different option.

But if you do want to give online surveys a try, be realistic about how much you’ll make. Manage your time wisely so you maximize your earnings, sign up with multiple sites to receive the best opportunities, and research the company before registering.

While there are better ways to make money online , most will require more skill, training, and time than taking surveys for money.

Rating Methodology

With so many options available, it’s hard to know which sites are worth using. We took a look at some of the most popular ones and considered these three important categories to decide which sites to recommend:

1. Track record . Trust was our number one priority when picking a survey site. The best ones maintained a successful history documenting timely payments and positive user reviews.

2. The number of opportunities . When reading reviews of a survey company, we looked for those that mentioned the number of opportunities available. We didn’t want to recommend sites that offer limited opportunities to earn money.

3. Income potential . We tried to get a feel for how well the companies pay for your time. We did that by testing out a few and by reading reviews to see how much they pay.

Related : 20 Money-Making Apps for Earning on the Go

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The 8 types of market research: definitions, uses and examples.

13 min read What are the different types of market research that can help you stay ahead of the curve with your marketing strategy? Understand how to use each type, and what the advantages and disadvantages are.

Market research (also called marketing research) is the action or activity of gathering information about market needs and preferences. This helps companies understand their target market — how the audience feels and behaves.

There are 8 types of market research, each with their own methods and tools:

• Primary research
• Secondary research
• Qualitative research
• Quantitative research
• Branding research
• Customer research
• Competitor research
• Product research

Let’s start our list by exploring primary and secondary research first.

Free eBook: How to rethink and reinvent market research

1. Primary research

Primary research is research that you collect yourself but going directly to the target market through a range of methods. Because it is data you create, you own the data set.

Two types of results — exploratory information (determines the nature of a problem that hasn’t yet been clearly defined) and conclusive information (carried out to solve a problem that exploratory research identified) — from participants are collected as raw data and then analysed to gather insights from trends and comparisons.

This method is good for getting the views of a lot of people at one time, especially when time is short, but it comes with its own management issues. The interviewer must prepare a way to gather answers and record these, while engaging in conversation with many people.

Participants may be affected by the group setting, either from acquiescence bias (the desire to say yes to please the interviewer), dominance bias (stronger participants can alter the results from less dominant participants) or researcher bias (where the research leads or impacts the participant responses indirectly).

This provides a structured setting where the interviewer can listen to what’s being said and investigate further into an answer. The interviewer can also pick up on non-verbal cues from body language can help the interview understand where to deep-dive and broaden their understanding.

However, some of the same biases (acquiescence and researcher) still exit in this format. The method is time consuming to do the interviews and collect the data afterwards.

A survey is an excellent method for carrying out primary research as participants do need to be physically present with the interviewer to carry it out. The survey can be completed anywhere there is an internet connection, meaning there is flexibility for the participants to use different devices and for interviewers to contact participants in different geographical time-zones.Preparation is key, however, as the researchers must segment the market and create a list of participants to send the survey to. Hiring a panel or using existing marketing lists can help with this.

2. Secondary research

Secondary research is the use of data that has previously been collected, analysed and published (and therefore you do not own this data). An example of this for market research is:

Most information is freely available, so there are less costs associated with this kind of secondary research over primary research methods.

Secondary research can often be the preparation for primary research activities, providing a knowledge base. The information gathered may not provide the specific information to explain the results, which is where primary market research would be used to enhance understanding.

There is also a logistics planning need for a recording solution that can handle large datasets, since manual management of the volumes of information can be tricky.

Both primary and secondary research have its advantages and disadvantages, as we’ve seen, but they are best used when paired together. Combined, the data can give you the confidence to act knowing that any hypothesis you have is backed up.

Learn more about primary vs secondary research methods

The next market research types can be defined as qualitative and quantitative research types:

3. Qualitative research

Qualitative market research is the collection of primary or secondary data that is non-numerical in nature, and therefore hard to measure.

Researchers collect this market research type because it can add more depth to the data.

This kind of market research is used to summarise and infer, rather than pin-points an exact truth held by a target market. For example, qualitative market research can be done to find out a new target market’s reaction to a new product to translate the reaction into a clear explanation for the company.

4. Quantitative research

Quantitative research is the collection of primary or secondary data that is numerical in nature, and so can be collected more easily.

Researchers collect this market research type because it can provide historical benchmarking, based on facts and figures evidence.

There are a number of ways to collect this data — polls, surveys, desk research, web statistics, financial records — which can be exploratory in nature without a lot of depth at this stage.

Quantitative market research can create the foundation of knowledge needed by researchers to investigate hypotheses further through qualitative market research.

The next four variations of market research are specific to topics areas, that bring about specific information.:

5. Branding research

Branding market research assists a company to create, manage and maintain the company brand. This can relate to the tone, branding, images, values or identity of the company.

Research can be carried out through interviews, focus groups or surveys. For example, brand awareness surveys will ask your participants whether the brand is known to them and whether it is something they would be interested in buying.

Additional areas for brand research is also around brand loyalty, brand perception , brand positioning , brand value and brand identity .

The aim of research will be to understand how to know if:

• Your brand is performing in relation to other competitors
• There are areas to improve your brand activities
• There are positives to showcase to enhance your brand’s image

6. Customer research

Customer market research looks at the key influences on your target customers and how your company can make changes to encourage sales.

The aim of this research is to know your customer inside out, and continuously learn about how they interact with the company. Some themes covered by this include:

• Customer satisfaction – Exploring what keeps customers happy, as higher customer satisfaction is more likely to lead to increased customer retention.
• Customer loyalty – This looks at what experiences have happened to lead to greater customer loyalty across the customer lifecycle.
• Customer segmentation research – Discovering who the customers are, what their behaviour and preferences are and their shared characteristics.

Relevant desk research may look at historical purchase records, customer journey mapping , customer segmentation, demographics and persona templates.

Primary research, such as NPS and customer satisfaction surveys , or customer satisfaction interviews at the end of customer support calls, can also give more details.

7. Competitor research

Competitor market research is about knowing who your competition is and understanding their strengths and weaknesses, in comparison to your organisation. It can also be about your competitive offering in the market, or how to approach a new market.

The aim of this research is to find ways to make your organisation stand out and future planning through horizon scanning and listening to customer preferences.

For example, for competitive analysis, researchers would create a SWOT for your business and your competitors, to see how your business compares.

Primary research could interview customers about their buying preferences, while secondary sources would look at competitor’s market dominance, sales, structure and so on. With this thorough analysis, you can understand where you can change to be more competitive, and look for ideas that make you stand out.

8. Product research

Product market research is a key way to make sure your products and services are fit for launching in the market, and are performing as well as they can.

The aim of this research is to see how your product is perceived by customers, if they are providing value and working correctly. Ideas can also be formed about upgrades and future product development.

There are a number of avenues within product research:

• Product branding – Does the product brand and design attract customers in the intended way?
• Product feature testing – this can happen at various stages of development with target markets (in early development, between versions, before product launch, etc.) to check if there are positive reaction to new or improved features
• Product design thinking – what solutions would solve your customers’ current or future problems?
• Product marketing – Do the marketing messages help your product’s memorability and saleability, or can they be improved?

Primary research methods have a clear advantage in this kind of market research: Surveys can ask for rankings on the popularity or usefulness of features or conduct conjoint analysis, while in-person observation interviews (where the participant can handle a product) can be particularly useful in seeing what customers do with the product in real time.

How to use market research types in your company

In a good marketing strategy, it’s preferable to have a mixture of data across:

• Qualitative and quantitative research
• Primary and secondary research
• Your specific topic area or area of focus

With these three components, you can make sure your market strategy gives you a complete picture of your market’s operational data and experience data , — what your market does and why .

Economical experience data (O data)

This type of experience data is quantitative in nature (including operations, featuring sales data, finance data and HR data ). As it can be quantified into numerical values, it can be measured over and over, providing datasets.

There is the opportunity to use a data-driven approach to understanding the results and making predictions based on historical trends.

This sort of data can be measured more easily than emotions and feelings. But it can only tell you about past activities and what happened. It can’t tell you what will happen in the future and why things will happen — this is where X data comes in.

Emotional experience data (X data)

This type of experience data seeks to find reasons to explain emotional decisions and how brands ‘sit’ in people’s minds. In this way, this data is qualitative in nature.

Companies that have X data have a ‘mental advantage’ over other companies,  as they are able to understand the perceptions of the customer, their needs and values.

When you have tangible insights on the audience’s needs, you can then take steps to meet those needs and solve problems. This mitigates the risk of an experience gap – which is what your audience expects you deliver versus what you actually deliver.

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What Can You Do with a Master’s in Marketing?

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Looking to take your marketing career to the next level with a high-paying and fulfilling role? If so, a master’s in marketing is your ticket to success. This postgraduate degree is designed to deepen your knowledge of the strategies companies use to market their products or services. While an undergraduate degree in marketing covers basic topics such as market research, social media strategy, and messaging, a master’s program focuses on more specialized areas like consumer psychology, planning, and Analytics.

Let’s explore some of the industry’s most sought-after roles and uncover the essential skills and qualifications required to not only secure but also excel in these positions.

High-Paying Opportunities You Can Land with Your Marketing Masters

Earning a master’s degree in marketing can lead to various career opportunities, including traditional marketing, public relations, and advertising roles. With such a wide range of job opportunities, it’s become a popular career choice for students seeking a dynamic and constantly evolving path.

Below, discover four common roles—along with salary and job outlook data from the U.S. Bureau of Labor Statistics —that can be pursued with the skills and knowledge acquired through these degrees,

Advertising, Promotions, and Marketing Managers

Plan and execute marketing campaigns to promote products and services, aiming to increase sales and enhance the company’s brand.

• Average Salary: $156,580 per year
• Expected 10-Year Growth: 6% (faster than average)

Data Scientists

Analyze and interpret complex data to provide insights and support decision-making in organizations.

• Average Salary: $108,020 per year
• Expected 10-Year Growth: 35% (much faster than average)

Market Research Analysts

Study market conditions to identify potential sales, understand consumer preferences, and guide marketing strategies.

• Average Salary: $74,680 per year
• Expected 10-Year Growth: 13% (much faster than average)

Public Relations and Fundraising Managers

Manage an organization’s public image and communication, and develop strategies to raise funds and maintain donor relationships.

• Average Salary: $130,480 per year

What Skills Are Needed for a Thriving Marketing Career?

Succeeding in the field of marketing demands a diverse skill set that includes technical prowess, analytical capabilities, creativity, adaptability, and strong interpersonal skills.

• Technical proficiency requires adeptness with various marketing tools and platforms.
• Analytical capabilities encompass the ability to interpret data and derive actionable insights to steer marketing strategies.
• Creativity is essential for developing innovative marketing campaigns and compelling content that resonates with the target audience.
• Adaptability is crucial in this fast-paced industry, where trends and technologies are continually evolving.
• Strong interpersonal skills , including effective communication and relationship-building, are vital for collaborating with team members, clients, and other stakeholders.

These skills collectively set individuals apart in the competitive marketing landscape. And the most effective way to gain them is by enrolling in a top-ranked program that offers the flexibility to accommodate your busy professional and personal life — which is where UC’s online program excels.

UC Online Degree Options: Master of Science in Marketing

The Master of Science in Marketing program, offered online at the University of Cincinnati through the Lindner College of Business, equips students with an innovative curriculum based on the latest marketing practices and theories. Designed to impart the acumen to succeed in various industries, its diverse and world-renowned faculty members rank in the top ten for publications in consumer psychology journals. Through their expertise, students become experts in:

• human emotions
• decision-making processes
• buyer journeys
• compelling messages
• strategic digital content
• digital platforms

This program is designed to propel your career with a focus on consumer psychology and strategy, planning and design, build and execution, and analytics. It wraps up with a distinctive capstone project, offering you the chance to tackle real-world marketing challenges for actual organizations and gain valuable hands-on experience.

Recent graduates have secured positions at companies such as Procter and Gamble, Cincinnati Children’s Hospital, Johnson & Johnson, Fifth Third, UPS, Louis Vuitton, and more.

So, Is a Master’s in Marketing Worth It? 

If you’re thinking about advancing your marketing career — pursuing senior-level roles, exploring new industries, and expanding your network — a Master of Science in Marketing can open new and exciting opportunities. These programs provide specialized knowledge beyond the fundamentals, exploring complex concepts and state-of-the-art strategies.

As a student, you’ll gain expertise in crucial areas such as consumer behavior, digital marketing, and branding — all of which will enable you to create persuasive messages, analyze data strategically, and establish influential brands. Acquiring this new expertise will elevate your standing as a highly sought-after candidate in a market that increasingly values advanced qualifications.

Student Testimonials

“I have a background in film and during my time at UC in undergraduate, I interned at many marketing agencies. The experiences that I developed during the internships sparked a passion for being the next generation of marketers.” — Xiyanna K.

“This degree allows me to utilize my bandwidth best while respecting my desire to learn and deliver results. It will bolster my impacts on customer-obsessed and consumer-personalized data-driven insights, pricing and promotion, adaptive marketing plans, high-performance cross-functional teams, and organizational learning — to win the future.” — Robert O.

Unleash Your Potential

If you’re aiming to advance your marketing career, a Master of Science in Marketing can unlock a world of new and exciting opportunities by giving you a competitive edge. These degrees offer a broad spectrum of career paths, from traditional marketing to roles in public relations and advertising. UC’s online program is expertly crafted to help you gain the essential skills, land your ideal position, and make your marketing professional dreams a reality.

So, are you ready to learn more? Contact one of our advisors and start your journey to a brighter future.

Frequently Asked Questions (FAQs)

How long is a master’s in marketing.

A master’s degree program in marketing typically takes around two years to complete if pursued full-time. However, completion time can vary based on the school and the student’s circumstances. UC’s online program is 32 credit hours and can be completed online in 1-2 years.

Which should you choose: a master’s in marketing or an MBA?

If you aspire to excel in a business-related career, selecting the degree that resonates with your passions is crucial. Marketing offers an opportunity to leverage creative skills in promoting company offerings, while administration empowers individuals to drive efficiency and productivity through leadership and managerial expertise.

What is the job outlook for a master’s in marketing?

Data from the U.S. Bureau Of Labor Statistics indicates that job growth in marketing-related fields is growing faster than average. Overall, a master’s in marketing provides a competitive edge by equipping graduates with advanced skills that are highly valued in the current job market, making them attractive candidates for senior and specialized roles in various industries.

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McKinsey technology trends outlook 2024

Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive reality. While the macroeconomic environment with elevated interest rates has affected equity capital investment and hiring, underlying indicators—including optimism, innovation, and longer-term talent needs—reflect a positive long-term trajectory in the 15 technology trends we analyzed.

What’s new in this year’s analysis

This year, we reflected the shifts in the technology landscape with two changes on the list of trends: digital trust and cybersecurity (integrating what we had previously described as Web3 and trust architectures) and the future of robotics. Robotics technologies’ synergy with AI is paving the way for groundbreaking innovations and operational shifts across the economic and workforce landscapes. We also deployed a survey to measure adoption levels across trends.

These are among the findings in the latest McKinsey Technology Trends Outlook, in which the McKinsey Technology Council  identified the most significant technology trends unfolding today. This research is intended to help executives plan ahead by developing an understanding of potential use cases, sources of value, adoption drivers, and the critical skills needed to bring these opportunities to fruition.

Our analysis examines quantitative measures of interest, innovation, investment, and talent to gauge the momentum of each trend. Recognizing the long-term nature and interdependence of these trends, we also delve into the underlying technologies, uncertainties, and questions surrounding each trend. (For more about new developments in our research, please see the sidebar “What’s new in this year’s analysis”; for more about the research itself, please see the sidebar “Research methodology.”)

New and notable

The two trends that stood out in 2023 were gen AI and electrification and renewables. Gen AI has seen a spike of almost 700 percent in Google searches from 2022 to 2023, along with a notable jump in job postings and investments. The pace of technology innovation has been remarkable. Over the course of 2023 and 2024, the size of the prompts that large language models (LLMs) can process, known as “context windows,” spiked from 100,000 to two million tokens. This is roughly the difference between adding one research paper to a model prompt and adding about 20 novels to it. And the modalities that gen AI can process have continued to increase, from text summarization and image generation to advanced capabilities in video, images, audio, and text. This has catalyzed a surge in investments and innovation aimed at advancing more powerful and efficient computing systems. The large foundation models that power generative AI, such as LLMs, are being integrated into various enterprise software tools and are also being employed for diverse purposes such as powering customer-facing chatbots, generating ad campaigns, accelerating drug discovery, and more. We expect this expansion to continue, pushing the boundaries of AI capabilities. Senior leaders’ awareness of gen AI innovation has increased interest, investment, and innovation in AI technologies, such as robotics, which is a new addition to our trends analysis this year. Advancements in AI are ushering in a new era of more capable robots, spurring greater innovation and a wider range of deployments.

Research methodology

To assess the development of each technology trend, our team collected data on five tangible measures of activity: search engine queries, news publications, patents, research publications, and investment. For each measure, we used a defined set of data sources to find occurrences of keywords associated with each of the 15 trends, screened those occurrences for valid mentions of activity, and indexed the resulting numbers of mentions on a 0–1 scoring scale that is relative to the trends studied. The innovation score combines the patents and research scores; the interest score combines the news and search scores. (While we recognize that an interest score can be inflated by deliberate efforts to stimulate news and search activity, we believe that each score fairly reflects the extent of discussion and debate about a given trend.) Investment measures the flows of funding from the capital markets into companies linked with the trend.

Data sources for the scores include the following:

• Patents. Data on patent filings are sourced from Google Patents, where the data highlight the number of granted patents.
• Research. Data on research publications are sourced from Lens.
• News. Data on news publications are sourced from Factiva.
• Searches. Data on search engine queries are sourced from Google Trends.
• Investment. Data on private-market and public-market capital raises (venture capital and corporate and strategic M&A, including joint ventures), private equity (including buyouts and private investment in public equity), and public investments (including IPOs) are sourced from PitchBook.
• Talent demand. Number of job postings is sourced from McKinsey’s proprietary Organizational Data Platform, which stores licensed, de-identified data on professional profiles and job postings. Data are drawn primarily from English-speaking countries.

In addition, we updated the selection and definition of trends from last year’s report to reflect the evolution of technology trends:

• The future of robotics trend was added since last year’s publication.
• Data sources and keywords were updated. For data on the future of space technologies investments, we used research from McKinsey’s Aerospace & Defense Practice.

Finally, we used survey data to calculate the enterprise-wide adoption scores for each trend:

• Survey scope. The survey included approximately 1,000 respondents from 50 countries.
• Geographical coverage. Survey representation was balanced across Africa, Asia, Europe, Latin America, the Middle East, and North America.
• Company size. Size categories, based on annual revenue, included small companies ($10 million to $50 million), medium-size companies ($50 million to $1 billion), and large companies (greater than $1 billion).
• Respondent profile. The survey was targeted to senior-level professionals knowledgeable in technology, who reported their perception of the extent to which their organizations were using the technologies.
• Survey method. The survey was conducted online to enhance reach and accessibility.
• Question types. The survey employed multiple-choice and open-ended questions for comprehensive insights.
• 1: Frontier innovation. This technology is still nascent, with few organizations investing in or applying it. It is largely untested and unproven in a business context.
• 2: Experimentation. Organizations are testing the functionality and viability of the technology with a small-scale prototype, typically done without a strong focus on a near-term ROI. Few companies are scaling or have fully scaled the technology.
• 3: Piloting. Organizations are implementing the technology for the first few business use cases. It may be used in pilot projects or limited deployments to test its feasibility and effectiveness.
• 4: Scaling. Organizations are in the process of scaling the deployment and adoption of the technology across the enterprise. The technology is being scaled by a significant number of companies.
• 5: Fully scaled. Organizations have fully deployed and integrated the technology across the enterprise. It has become the standard and is being used at a large scale as companies have recognized the value and benefits of the technology.

Electrification and renewables was the other trend that bucked the economic headwinds, posting the highest investment and interest scores among all the trends we evaluated. Job postings for this sector also showed a modest increase.

Although many trends faced declines in investment and hiring in 2023, the long-term outlook remains positive. This optimism is supported by the continued longer-term growth in job postings for the analyzed trends (up 8 percent from 2021 to 2023) and enterprises’ continued innovation and heightened interest in harnessing these technologies, particularly for future growth.

Future frontiers: Navigating the next wave of tech innovations

Join Lareina Yee and Roger Roberts on Tuesday, July 30, at 12:30 p.m. EDT/6:30 p.m. CET as they discuss the future of these technological trends, the factors that will fuel their growth, and strategies for investing in them through 2024 and beyond.

In 2023, technology equity investments fell by 30 to 40 percent to approximately $570 billion due to rising financing costs and a cautious near-term growth outlook, prompting investors to favor technologies with strong revenue and margin potential. This approach aligns with the strategic perspective leading companies are adopting, in which they recognize that fully adopting and scaling cutting-edge technologies is a long-term endeavor. This recognition is evident when companies diversify their investments across a portfolio of several technologies, selectively intensifying their focus on areas most likely to push technological boundaries forward. While many technologies have maintained cautious investment profiles over the past year, gen AI saw a sevenfold increase in investments, driven by substantial advancements in text, image, and video generation.

About QuantumBlack, AI by McKinsey

QuantumBlack, McKinsey’s AI arm, helps companies transform using the power of technology, technical expertise, and industry experts. With thousands of practitioners at QuantumBlack (data engineers, data scientists, product managers, designers, and software engineers) and McKinsey (industry and domain experts), we are working to solve the world’s most important AI challenges. QuantumBlack Labs is our center of technology development and client innovation, which has been driving cutting-edge advancements and developments in AI through locations across the globe.

Despite an overall downturn in private equity investment, the pace of innovation has not slowed. Innovation has accelerated in the three trends that are part of the “AI revolution” group: gen AI, applied AI, and industrializing machine learning. Gen AI creates new content from unstructured data (such as text and images), applied AI leverages machine learning models for analytical and predictive tasks, and industrializing machine learning accelerates and derisks the development of machine learning solutions. Applied AI and industrializing machine learning, boosted by the widening interest in gen AI, have seen the most significant uptick in innovation, reflected in the surge in publications and patents from 2022 to 2023. Meanwhile, electrification and renewable-energy technologies continue to capture high interest, reflected in news mentions and web searches. Their popularity is fueled by a surge in global renewable capacity, their crucial roles in global decarbonization efforts, and heightened energy security needs amid geopolitical tensions and energy crises.

The talent environment largely echoed the investment picture in tech trends in 2023. The technology sector faced significant layoffs, particularly among large technology companies, with job postings related to the tech trends we studied declining by 26 percent—a steeper drop than the 17 percent decrease in global job postings overall. The greater decline in demand for tech-trends-related talent may have been fueled by technology companies’ cost reduction efforts amid decreasing revenue growth projections. Despite this reduction, the trends with robust investment and innovation, such as gen AI, not only maintained but also increased their job postings, reflecting a strong demand for new and advanced skills. Electrification and renewables was the other trend that saw positive job growth, partially due to public sector support for infrastructure spending.

Even with the short-term vicissitudes in talent demand, our analysis of 4.3 million job postings across our 15 tech trends underscored a wide skills gap. Compared with the global average, fewer than half the number of potential candidates have the high-demand tech skills specified in job postings. Despite the year-on-year decreases for job postings in many trends from 2022 to 2023, the number of tech-related job postings in 2023 still represented an 8 percent increase from 2021, suggesting the potential for longer-term growth (Exhibit 1).

Enterprise technology adoption momentum

The trajectory of enterprise technology adoption is often described as an S-curve that traces the following pattern: technical innovation and exploration, experimenting with the technology, initial pilots in the business, scaling the impact throughout the business, and eventual fully scaled adoption (Exhibit 2). This pattern is evident in this year’s survey analysis of enterprise adoption conducted across our 15 technologies. Adoption levels vary across different industries and company sizes, as does the perceived progress toward adoption.

Image description:

A graph depicts the adoption curve of technology trends, scored from 1 to 5, where 1 represents frontier innovation, located at the bottom left corner of the curve; 2 is experimenting, located slightly above frontier innovation; 3 is piloting, which follows the upward trajectory of the curve; 4 is scaling, marked by a vertical ascent as adoption increases; and 5 is fully scaled, positioned at the top of the curve, indicating near-complete adoption.

In 2023, the trends are positioned along the adoption curve as follows: future of space technologies and quantum technologies are at the frontier innovation stage; climate technologies beyond electrification and renewables, future of bioengineering, future of mobility, future of robotics, and immersive-reality technologies are at the experimenting stage; digital trust and cybersecurity, electrification and renewables, industrializing machine learning, and next-gen software development are at the piloting stage; and advanced connectivity, applied AI, cloud and edge computing, and generative AI are at the scaling stage.

Footnote: Trend is more relevant to certain industries, resulting in lower overall adoption across industries compared with adoption within relevant industries.

Source: McKinsey technology adoption survey data

End of image description.

We see that the technologies in the S-curve’s early stages of innovation and experimenting are either on the leading edge of progress, such as quantum technologies and robotics, or are more relevant to a specific set of industries, such as bioengineering and space. Factors that could affect the adoption of these technologies include high costs, specialized applications, and balancing the breadth of technology investments against focusing on a select few that may offer substantial first-mover advantages.

As technologies gain traction and move beyond experimenting, adoption rates start accelerating, and companies invest more in piloting and scaling. We see this shift in a number of trends, such as next-generation software development and electrification. Gen AI’s rapid advancement leads among trends analyzed, about a quarter of respondents self-reporting that they are scaling its use. More mature technologies, like cloud and edge computing and advanced connectivity, continued their rapid pace of adoption, serving as enablers for the adoption of other emerging technologies as well (Exhibit 3).

A segmented bar graph shows the adoption levels of tech trends in 2023 as a percentage of respondents. The trends are divided into 5 segments, comprising 100%: fully scaled, scaling, piloting, experimenting, and not investing. The trends are arranged based on the combined percentage sum of fully scaled and scaling shares. Listed from highest to lowest, these combined percentages are as follows:

• cloud and edge computing at 48%
• advanced connectivity at 37%
• generative AI at 36%
• applied AI at 35%
• next-generation software development at 31%
• digital trust and cybersecurity at 30%
• electrification and renewables at 28%
• industrializing machine learning at 27%
• future of mobility at 21%
• climate technologies beyond electrification and renewables at 20%
• immersive-reality technologies at 19%
• future of bioengineering at 18%
• future of robotics at 18%
• quantum technologies at 15%
• future of space technologies at 15%

The process of scaling technology adoption also requires a conducive external ecosystem where user trust and readiness, business model economics, regulatory environments, and talent availability play crucial roles. Since these ecosystem factors vary by geography and industry, we see different adoption scenarios playing out. For instance, while the leading banks in Latin America are on par with their North American counterparts in deploying gen AI use cases, the adoption of robotics in manufacturing sectors varies significantly due to differing labor costs affecting the business case for automation.

As executives navigate these complexities, they should align their long-term technology adoption strategies with both their internal capacities and the external ecosystem conditions to ensure the successful integration of new technologies into their business models. Executives should monitor ecosystem conditions that can affect their prioritized use cases to make decisions about the appropriate investment levels while navigating uncertainties and budgetary constraints on the way to full adoption (see the “Adoption developments across the globe” sections within each trend or particular use cases therein that executives should monitor). Across the board, leaders who take a long-term view—building up their talent, testing and learning where impact can be found, and reimagining the businesses for the future—can potentially break out ahead of the pack.

Lareina Yee is a senior partner in McKinsey’s Bay Area office, where Michael Chui  is a McKinsey Global Institute partner, Roger Roberts  is a partner, and Mena Issler is an associate partner.

The authors wish to thank the following McKinsey colleagues for their contributions to this research: Aakanksha Srinivasan, Ahsan Saeed, Alex Arutyunyants, Alex Singla, Alex Zhang, Alizee Acket-Goemaere, An Yan, Anass Bensrhir, Andrea Del Miglio, Andreas Breiter, Ani Kelkar, Anna Massey, Anna Orthofer, Arjit Mehta, Arjita Bhan, Asaf Somekh, Begum Ortaoglu, Benjamin Braverman, Bharat Bahl, Bharath Aiyer, Bhargs Srivathsan, Brian Constantine, Brooke Stokes, Bryan Richardson, Carlo Giovine, Celine Crenshaw, Daniel Herde, Daniel Wallance, David Harvey, Delphine Zurkiya, Diego Hernandez Diaz, Douglas Merrill, Elisa Becker-Foss, Emma Parry, Eric Hazan, Erika Stanzl, Everett Santana, Giacomo Gatto, Grace W Chen, Hamza Khan, Harshit Jain, Helen Wu, Henning Soller, Ian de Bode, Jackson Pentz, Jeffrey Caso, Jesse Klempner, Jim Boehm, Joshua Katz, Julia Perry, Julian Sevillano, Justin Greis, Kersten Heineke, Kitti Lakner, Kristen Jennings, Liz Grennan, Luke Thomas, Maria Pogosyan, Mark Patel, Martin Harrysson, Martin Wrulich, Martina Gschwendtner, Massimo Mazza, Matej Macak, Matt Higginson, Matt Linderman, Matteo Cutrera, Mellen Masea, Michiel Nivard, Mike Westover, Musa Bilal, Nicolas Bellemans, Noah Furlonge-Walker, Obi Ezekoye, Paolo Spranzi, Pepe Cafferata, Robin Riedel, Ryan Brukardt, Samuel Musmanno, Santiago Comella-Dorda, Sebastian Mayer, Shakeel Kalidas, Sharmila Bhide, Stephen Xu, Tanmay Bhatnagar, Thomas Hundertmark, Tinan Goli, Tom Brennan, Tom Levin-Reid, Tony Hansen, Vinayak HV, Yaron Haviv, Yvonne Ferrier, and Zina Cole.

They also wish to thank the external members of the McKinsey Technology Council for their insights and perspectives, including Ajay Agrawal, Azeem Azhar, Ben Lorica, Benedict Evans, John Martinis, and Jordan Jacobs.

Special thanks to McKinsey Global Publishing colleagues Barr Seitz, Diane Rice, Kanika Punwani, Katie Shearer, LaShon Malone, Mary Gayen, Nayomi Chibana, Richard Johnson, Stephen Landau, and Victor Cuevas for making this interactive come alive.

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