sell market research reports

How To Sell Market Research Business in 9 Steps: Checklist

By henry sheykin, resources on market research.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

The market research industry in the US has been experiencing significant growth in recent years, driven by the increasing demand for actionable insights among businesses of all sizes.

According to the latest statistics, the market research industry in the US is expected to reach a value of $47.3 billion by 2026, growing at a CAGR of 6.3% from 2021 to 2026.

For market research businesses looking to sell, this presents a prime opportunity to capitalize on the industry's growth and secure a profitable exit strategy.

In this blog post, we will provide a comprehensive checklist outlining the 9 essential steps to successfully sell your market research business. From conducting a thorough assessment to engaging legal and financial professionals, this checklist will guide you through the entire process.

Conduct A Comprehensive Assessment Of The Market Research Business

Before embarking on the journey of selling your market research business, it is crucial to conduct a thorough assessment to understand its strengths, weaknesses, and overall value. This assessment will provide you with valuable insights that will help you make informed decisions throughout the selling process.

Here are some important aspects to consider:

• Examine the current client base: Identify the key clients and their contribution to the business's revenue. Evaluate the diversity and stability of the client base to assess potential risks.
• Review the services offered: Analyze the range of services provided by your market research business. Determine which services are generating the highest demand and profitability, as they will be attractive to potential buyers.
• Evaluate the industry landscape: Assess the competitive landscape and market trends in the market research industry. Identify any unique selling points or competitive advantages that differentiate your business from others.
• Assess the team and expertise: Evaluate the skills and expertise of your team members. Identify any key individuals whose departure may impact the business's operations.
• Analyze financial performance: Review the financial statements to understand the revenue, expenses, and profitability of the business. Identify any areas for improvement or potential risks.
• Consider hiring a professional business consultant or conducting an external audit to ensure an unbiased assessment.
• Conduct interviews with key employees and clients to gain insights into the business's reputation and market perception.
• Identify any intellectual property or proprietary methodologies that can add value to the business.

A comprehensive assessment of your market research business will not only help you understand its current state but also enable you to present a compelling story to potential buyers. It will serve as the foundation for the next steps in the selling process, guiding your decisions and increasing the likelihood of a successful sale.

Identify Potential Buyers and Establish Communication Channels

Identifying potential buyers for your market research business is a crucial step in the selling process. It is important to thoroughly research and analyze the market to determine who would be the most interested and suitable buyers for your business. This will help you focus your efforts and resources on reaching out to the right audience.

Start by creating a buyer persona, which is a profile of your ideal buyer. Consider factors such as industry, company size, geographic location, and specific needs or challenges that your market research business can address. This will help you narrow down the pool of potential buyers and prioritize your outreach efforts.

Once you have identified your target audience, it's time to establish communication channels to reach out to them. Utilize various channels such as industry events, trade publications, online forums, and professional networking platforms to connect with potential buyers.

• Networking: Attend industry conferences, seminars, and networking events to meet potential buyers face-to-face. This allows for more personalized conversations and the opportunity to showcase your expertise and capabilities.
• Industry Associations: Join relevant industry associations and leverage their networks to connect with potential buyers. These associations often have member directories or online platforms where you can promote your business and connect with interested parties.
• Online Platforms: Utilize professional networking platforms such as LinkedIn to find and connect with potential buyers. Join groups and discussions related to market research to establish yourself as a thought leader and attract the attention of potential buyers.
• Direct Outreach: Proactively reach out to potential buyers through email or direct mail campaigns. Personalize your messages to demonstrate your understanding of their specific needs and highlight how your market research business can add value.
• Invest time in building relationships with potential buyers before you actively try to sell your business. This will increase the chances of a successful sale.
• Consider partnering with industry influencers or thought leaders who can endorse or recommend your market research business to their networks.
• Utilize social media platforms to engage with potential buyers and share valuable content related to market research. This can help attract their attention and establish your credibility.

Prepare A Business Plan Highlighting The Unique Value Proposition And The Potential Growth Opportunities

When selling your market research business, it is essential to prepare a comprehensive business plan that highlights the unique value proposition and potential growth opportunities. This plan will serve as a roadmap for potential buyers, showcasing the strengths of your business and its potential for future success.

1. Clearly define your unique value proposition:

• Identify what sets your market research business apart from competitors
• Highlight your expertise, industry knowledge, and innovative approaches
• Showcase successful past projects and client testimonials

2. Assess the market and identify growth opportunities:

• Provide a thorough analysis of the current market landscape
• Identify potential areas for expansion or new target markets
• Highlight emerging industry trends and how your business can capitalize on them

3. Develop a strategic growth plan:

• Outline specific strategies and tactics to achieve growth objectives
• Include details on new services, partnerships, or technologies that can drive expansion
• Address any potential challenges or risks and provide mitigation strategies
• Support your growth projections with market research data and industry forecasts
• Clearly articulate how your business is positioned to take advantage of market trends
• Highlight any intellectual property, patents, or proprietary methodologies that differentiate your business
• Consider including a SWOT analysis to provide a comprehensive overview of your business's strengths, weaknesses, opportunities, and threats

Ensure The Financial Records And Statements Are Up-To-Date And Accurate

Before putting your market research business up for sale, it is essential to ensure that your financial records and statements are up-to-date and accurate. Potential buyers will want to thoroughly review your financial history to assess the profitability and stability of your business. Here are some important steps to take:

• Organize and gather all financial documents: Collect all relevant financial documents, including balance sheets, income statements, cash flow statements, tax returns, and any other supporting documentation. Make sure they are well-organized and easily accessible.
• Review and verify the accuracy of financial records: Scrutinize your financial records to ensure they are complete and accurate. Double-check for any errors or discrepancies and resolve them promptly. This will instill confidence in potential buyers and facilitate a smoother due diligence process.
• Update financial records: If your financial records are not up-to-date, take the time to update them. This includes documenting all expenses, income, and transactions accurately. Use reputable accounting software or consult with a professional accountant if necessary.
• Ensure compliance: Verify that your financial records adhere to relevant accounting standards and regulatory requirements. This will demonstrate your commitment to ethical business practices and increase buyer confidence.
• Consider hiring a professional accountant to conduct a detailed audit of your financial records. This can help identify any areas that need improvement and provide an objective assessment of your business's financial health.
• Keep your personal and business finances separate. Maintain separate bank accounts and credit cards to avoid any confusion or complications during the due diligence process.
• Document any extraordinary or one-time expenses separately to provide clarity to potential buyers about the ongoing profitability of your business.

By ensuring that your financial records and statements are up-to-date and accurate, you will enhance the credibility of your market research business and increase the likelihood of achieving a successful sale.

Create A Detailed Financial Model Projecting Future Revenue And Profitability

In order to sell your market research business successfully, it is crucial to create a detailed financial model that projects the future revenue and profitability of the company. This financial model will serve as a key tool for potential buyers to evaluate the investment potential and determine the value of your business.

The financial model should be comprehensive and provide a clear picture of the business's expected financial performance over a specific time period, usually three to five years. It should include various components such as revenue projections, expense forecasts, and net profit estimates.

When creating the financial model, consider the following key elements:

• Revenue Projections: Outline the sources of revenue for the business, such as project fees, additional services, or consulting income. Use realistic assumptions based on historical data, market trends, and potential growth opportunities. Include projected revenue figures on a monthly, quarterly, and annual basis.
• Expense Forecasts: Identify and categorize all the business's expenses, including employee salaries, overhead costs, marketing expenses, and any other operating costs. Take into account any anticipated changes in expenses, such as increased marketing efforts or additional staffing needs.
• Net Profit Estimates: Calculate the net profit by subtracting the total expenses from the projected revenue figures. This will provide an estimate of the business's profitability over the projected time period.

Tips for Creating an Effective Financial Model:

• Use historical financial data as a reference point to ensure accuracy.
• Consider different scenarios and potential risks to assess the business's resilience and adaptability.
• Include a sensitivity analysis to show how changes in key variables, such as pricing or market demand, can impact the financial projections.
• Consider hiring a financial professional or consultant to assist with the creation of the financial model if needed.

By creating a detailed financial model that projects future revenue and profitability, you will provide potential buyers with a clear understanding of the business's financial potential and value. This will not only attract serious buyers but also facilitate the negotiation process and increase the likelihood of a successful sale.

Conduct A Thorough Valuation Analysis To Determine The Fair Market Value Of The Business

When selling a market research business, it is crucial to conduct a thorough valuation analysis to determine its fair market value. This analysis involves assessing the company's financials, assets, client base, reputation, and growth potential. By conducting a comprehensive valuation analysis, you can set a realistic asking price that attracts potential buyers and ensures a fair deal for both parties involved.

During the valuation analysis, consider the following important factors:

• Financial Performance: Evaluate the business's revenue, profitability, and cash flow history. Review financial statements, tax returns, and other relevant financial records to get an accurate understanding of the company's financial performance.
• Client Base: Assess the quality and diversity of the client base. Are there any long-term contracts or strong client relationships that add value to the business?
• Asset Evaluation: Determine the value of the company's tangible and intangible assets. This may include equipment, technology, intellectual property, and proprietary research methodologies.
• Growth Potential: Analyze the market trends and growth potential of the market research industry. Consider the company's ability to adapt to emerging technologies and changing client demands.
• Competitive Landscape: Understand the company's position in the market and compare it to competitors. Assess the strengths, weaknesses, opportunities, and threats that may impact the business's value.
• Engage the services of a professional valuation expert who has experience in the market research industry. They can provide an unbiased assessment of the business's value.
• Consider obtaining multiple valuation opinions to ensure accuracy and reliability.
• Be prepared to provide detailed documentation and data to support the valuation analysis.

By conducting a thorough valuation analysis, you can confidently set a fair asking price for your market research business. This step is crucial in attracting serious buyers and negotiating a successful sale.

Develop A Marketing Strategy To Attract Potential Buyers And Showcase The Business's Strengths

When selling a market research business, it is crucial to develop a strategic marketing plan that effectively communicates the unique strengths and value proposition of your business to potential buyers. This marketing strategy will help attract the right buyers and generate interest in your business.

Here are some important steps to consider when developing your marketing strategy:

• Identify the target audience: Determine the specific types of buyers who are most likely to be interested in your market research business. This could include individuals who want to enter the market research industry, companies looking to expand their services, or investors seeking to diversify their portfolio. Tailor your marketing efforts towards reaching these target buyers.
• Highlight the business's unique selling points: Clearly articulate the key strengths and differentiators of your market research business. This could include your team's expertise, proprietary research methodologies, long-standing client relationships, or specific niche markets you serve. Emphasize how these advantages set your business apart from competitors and provide added value to potential buyers.
• Utilize multiple marketing channels: Develop a comprehensive marketing strategy that encompasses various channels to reach potential buyers. These channels may include online platforms such as industry-specific websites, social media platforms, and business-for-sale marketplaces. Additionally, consider targeted marketing through industry events, conferences, and direct outreach to industry contacts. By utilizing a mix of channels, you can maximize your reach and exposure.
• Showcase past successes: Demonstrate the track record of success and highlight notable past projects or clients. Providing case studies or testimonials from satisfied clients can help build credibility and enhance the reputation of your market research business. This evidence of successful past performance can be a powerful selling point when attracting potential buyers.
• Offer potential buyers a vision for growth: Develop a compelling growth strategy that showcases the future potential and opportunities for the business. This could include identifying untapped market segments, exploring potential new service offerings, or outlining plans for geographic expansion. Offering a clear vision for growth can excite potential buyers and make your business an attractive investment opportunity.
• Engage in targeted outreach: Actively reach out to potential buyers who may have expressed interest or possess synergy with your market research business. Take advantage of your industry connections, professional networks, and even consider hiring a business broker who specializes in selling market research businesses.
• Develop a compelling elevator pitch that succinctly summarizes your market research business's unique selling points and value proposition.
• Create visually appealing marketing materials such as brochures or presentations that effectively communicate the strengths and advantages of your business.
• Utilize online platforms to showcase your market research expertise. This could include publishing informative blog posts, contributing articles to industry publications, or participating in relevant online forums.
• Consider hosting webinars or informational sessions targeted towards potential buyers. This can help build credibility and establish your market research business as a thought leader in the industry.
• Regularly update your marketing strategy and adapt it based on feedback and market trends. Stay ahead of the competition and continually refine your approach to maximize buyer interest.

Prepare A Compelling Sales Pitch And Presentation Materials

When preparing a compelling sales pitch and presentation materials for selling your market research business, it is crucial to highlight the unique value proposition and the potential growth opportunities that the business offers. This will help capture the attention of potential buyers and showcase the business's strengths.

Here are some important considerations for creating persuasive sales pitch and presentation materials:

• Clearly define the market research business's value proposition, highlighting its competitive advantage, unique methodologies, and expertise in the industry. This will help differentiate the business from competitors and attract potential buyers.
• Showcase the track record and successful projects that the business has undertaken. Including case studies and testimonials from satisfied clients can provide credibility and validate the business's capabilities.
• Provide a detailed analysis of the target market and industry trends to demonstrate the potential for growth and expansion. This can include market size, customer demographics, and emerging opportunities that the business can capitalize on.
• Outline the business's revenue streams and projected financial performance. This should include historical financial data, future revenue projections, and profitability forecasts. Presenting a clear and realistic financial picture will enhance the credibility of the business.
• Highlight the business's team and expertise. Showcase the qualifications and experience of key personnel, emphasizing their ability to deliver high-quality research and insights. This will instill confidence in potential buyers about the business's capabilities.
• Include a comprehensive overview of the business's infrastructure and resources. Highlight any proprietary tools, software, or systems that the business utilizes to enhance efficiency and deliver superior results. This will demonstrate the business's commitment to staying at the forefront of technology and industry best practices.
• Customize the sales pitch and presentation materials to align with the specific needs and interests of potential buyers. Tailoring the content to address their unique requirements will show that the business understands their industry and can provide value-added solutions.

Tips for an Effective Sales Pitch and Presentation:

• Keep the presentation concise and engaging, focusing on the key selling points that will resonate with buyers.
• Use visual aids, such as charts, graphs, and infographics, to present data and information in a visually appealing and easy-to-understand manner.
• Highlight any exclusive partnerships, industry affiliations, or certifications that add credibility to the business.
• Emphasize the potential for collaboration and growth opportunities that the business presents, showcasing how buyers can leverage its capabilities in their own strategic plans.
• Rehearse the pitch and ensure all presentation materials are error-free and professionally designed.

By preparing a compelling sales pitch and presentation materials, you can effectively communicate the value and potential of your market research business to potential buyers. Remember to emphasize the unique strengths of the business, while also customizing the content to address the specific needs and interests of potential buyers.

Engage Legal And Financial Professionals To Assist With Negotiations And The Sale Process

Engaging legal and financial professionals is a crucial step in the process of selling your market research business. These professionals bring in-depth knowledge and expertise to the table, ensuring a smooth negotiation and sale process. Their guidance and assistance can help maximize the value of your business and protect your interests throughout the transaction.

Here are some important considerations when engaging legal and financial professionals:

• Choose experienced professionals: Look for professionals who have experience with mergers and acquisitions in the market research industry. They should have a deep understanding of the legal and financial nuances involved in the sale process.
• Find a reputable firm: Seek out a reputable law or accounting firm that specializes in business transactions. Check their credentials, client reviews, and track record to ensure they are well-suited to handle your specific needs.
• Establish clear communication: Maintain open and frequent communication with your legal and financial professionals. Keep them informed about key details of the sale process, such as potential buyers, negotiations, and any concerns or questions that arise.
• Collaborate on due diligence: Work closely with your professionals to compile all the necessary documentation and conduct a thorough due diligence process. This includes reviewing financial records, contracts, and any other relevant information that potential buyers may require.
• Negotiation support and guidance: Rely on your professionals to provide valuable insights and guidance during negotiations. They can help identify potential pitfalls, navigate complex legal issues, and ensure that your interests are protected.
• Transaction structure and tax implications: Your legal and financial professionals can assist in structuring the transaction in the most advantageous way, taking into consideration tax implications and other financial factors. They can also help navigate any regulatory requirements or compliance issues.
• Be proactive in seeking professional assistance early in the selling process.
• Establish clear expectations and communication channels with your professionals.
• Consider obtaining multiple quotes and proposals from different firms to compare services and fees.
• Ask for references from other business owners who have previously engaged these professionals.
• Ensure confidentiality agreements are in place to protect your sensitive business information.

By engaging legal and financial professionals, you can navigate the complexities of negotiations and the sale process with confidence. Their expertise will aid in securing a favorable outcome and ensuring a smooth transition for both parties involved.

Selling a market research business requires careful planning and execution. By following the 9 steps outlined in this checklist, you can increase your chances of finding the right buyer and achieving a successful sale.

Conducting a comprehensive assessment of your business, identifying potential buyers, and preparing a strong business plan and financial model are essential steps in showcasing the value of your market research business. Additionally, developing a strategic marketing strategy and engaging professionals to assist with negotiations and the sale process can help ensure a smooth and profitable transaction.

Remember, selling a business takes time and effort, but by following these steps, you can maximize the value of your market research business and achieve a successful sale.

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How to Make Money Selling Market Research Reports

By: Author Tony Martins Ajaero

Home » Business ideas » B2B Industry » Market Research Firm

Are you good at digging up information or conducting research? If YES, here is a guide on how to get market research reports for free and make money selling it.

A market research is one of the most important steps in starting a new business enterprise and even running an existing business, and as such its use and relevance cannot be overestimated. Logically, it is impossible to sell goods or services that no consumer wants and still make profit off it.

This is why every business that is into production of goods and services must understand what their consumers want, when they want it and how they want it packaged or delivered.

What is Market Research?

Market research on its own is any organized effort to gather information about target markets or customers. It not only involves gathering the information but analyzing the information in order to help companies understand what products people want, who will buy them, and at what price.

This is a very important component of business strategy which is why market research companies keep gaining prominence among business people.

What is a Market Research Report?

A market research report is a report that offers a detailed analysis of a specific market within a particular geographical location in a country. The report contains certain vital information like market shifts due to social, technological and economic changes.

It should explain market opportunities that exist and how they can be properly harnessed for the betterment of the business. It also provides insight on organizational alignment, business processes, capital structure et al.

How Market Research is Conducted

Market research can be conducted by the business itself or by a specialized third party company that focuses primarily on market research.

While big businesses can afford to hire experts and specialists to help them carry out market research for them, smaller business are closer to their customers and as such, they tend to have a better sense of their customers buying habits, future needs and as well as trends.

The test subjects of market research usually are compensated with product samples or they may be paid a small amount of money as compensation for their effort.

Market research companies conduct market research in various ways depending on the demands of their clients or the kind of results they intend to achieve. Some of the methods market research companies utilize in carrying out their research include; focus groups, product testing, online and phone surveys, face to face interviews and mystery shopping.

• Online or phone surveys:  here, participants get to answer a series of questions about a product, brand or service through a website or by phone
• Face to face interviews: participants are asked to attend a short meeting to answer a series of questions about a product or service
• Mystery shopping: participants get paid by the market research company to test out a service and tell the company how the staff treated them. This information is then analyzed and relayed to the client that hired their services.
• Product testing: here, participants are given a free product to try out (e.g. a new hand cream), and they are asked their opinion about it.
• Focus groups: here, the participants are asked to discuss their opinions about a brand or a product in a small group of people.

How Market Research Help Businesses

Through market research, a business is able to access how viable a new product or service will be in the market. This will help the business to get a feel of what the consumer wants and also know the target market that will be most interested in what it has to offer.

It helps in gathering business information quickly: a detailed market research report will help any business to gather information quickly so as to be able to make informed decisions.

It validates internal research: market research reports can be used to research best practices, prepare RFP’s, get ready for client meetings as well as create content. Market research report also helps to save the time of the business owner by providing insights to questions they may have but do not have the time or resources to get.

It helps the business to get a holistic view of the market: market research reports can help businesses to stay up to date on the market as a whole. With the aid of these reports, a business will be able to have a holistic view of the market and also allow them to benchmark all the companies in the industry.

It helps the business to use objective data to make informed decision: another important benefit of market research report is its impartiality. Most a times, third party reports are unbiased and as such, they provide a better picture of what’s really happening in the market.

With a properly conducted and detailed research report, a business will be able to have a sound understanding of the issues that will affect the industry in the future and how to best position specific brands. Ultimately, it will lead to better decision making.

It strengthens credibility and reputation: with the aid of objective analysis, a business will be able to make informed decisions and as such develop better business strategies. It will help the business to improve its reputation in the field and help others to have more confidence in your conclusions.

How Market Research Companies Make Money

It should be noted that market research companies carry out services on behalf of their clients. When the research has been done and results collated, the market research company gets to submit its findings to their clients after which they get paid.

Market research companies usually do not get paid a certain determined lump sum for every research they undertake as the various research methods differ and some do involve more logistics than the others. Generally, market research companies make money or get paid through question development, managing focus groups, per question asked etc.

i. Question development

Market research companies get to make their money from developing questions to administer to research groups. This method is usually used where the company only wants the research company to create appropriate questions to fit the research situation, but may not be needed to administer the questions. The company can then take the questions and conduct their own surveys while paying off the market research company.

ii. Managing focused groups

A focus group is a gathering of deliberately selected people who participate in a planned discussion that is intended to elicit consumer perception/reaction about a particular topic or product or service. During a focus group, a group of individuals – usually 6-12 people – is brought together in a room to engage in a guided discussion of a topic.

Market research companies sometimes utilize focus groups when carrying out market research. Market research companies get to bill their clients for organizing focus groups on their behalf because participants in focus groups always get paid for their time.

iii. Through billing per question asked

Some market research companies have been known to make money through billing their clients per questions asked.

iv. Research analysis

Market research companies have been known to bill separately for research analysis as against submitting raw data to their clients. Research analysis is predominantly part of the marketing research package, but some companies prefer to bill it separately.

To effectively sell market research, there is need that you must first market the importance of having this report to your potential clients. Firstly, you should ask yourself “ is there a large demand for this particular market research that I have made? How many people will be interested in the solution that this report will provide? ”

Secondly you should consider the benefits of having the report that you have prepared. Does it save time, energy or money for your potential clients and if so, by how much ? Then lastly, you should ensure that your market research report is unique and one of a kind.

Make sure that it is original and also contains elements that will set it apart from reports that are already available at the moment.

It is a lot easier to sell market research reports if you already have a network of professionals that have the problem that your market research report can provide a solution to. You can also seek out potential businesses that you think may need your report but it will be a lot more difficult than the aforementioned option.

Also, to make money selling market research reports, you can make use of a freelancing website like Fiverr, Upwork or SEOclerk.

With these websites, you can either sell existing reports that you have conducted in the past, or you can offer your services as a market research expert and help businesses conduct their research and then write a report about your findings.

Alternatively, there are many companies such as market research and statistics that offer their platforms for selling market research reports.

Related Posts:

• How to Start a Market Research Company and Sell Reports for Profit
• How Do Market Research Companies Make Money?

Market Research: A How-To Guide and Template

Discover the different types of market research, how to conduct your own market research, and use a free template to help you along the way.

MARKET RESEARCH KIT

5 Research and Planning Templates + a Free Guide on How to Use Them in Your Market Research

Updated: 02/21/24

Published: 02/21/24

Today's consumers have a lot of power. As a business, you must have a deep understanding of who your buyers are and what influences their purchase decisions.

Enter: Market Research.

Whether you're new to market research or not, I created this guide to help you conduct a thorough study of your market, target audience, competition, and more. Let’s dive in.

Table of Contents

What is market research?

Primary vs. secondary research, types of market research, how to do market research, market research report template, market research examples.

Market research is the process of gathering information about your target market and customers to verify the success of a new product, help your team iterate on an existing product, or understand brand perception to ensure your team is effectively communicating your company's value effectively.

Market research can answer various questions about the state of an industry. But if you ask me, it's hardly a crystal ball that marketers can rely on for insights on their customers.

Market researchers investigate several areas of the market, and it can take weeks or even months to paint an accurate picture of the business landscape.

However, researching just one of those areas can make you more intuitive to who your buyers are and how to deliver value that no other business is offering them right now.

How? Consider these two things:

• Your competitors also have experienced individuals in the industry and a customer base. It‘s very possible that your immediate resources are, in many ways, equal to those of your competition’s immediate resources. Seeking a larger sample size for answers can provide a better edge.
• Your customers don't represent the attitudes of an entire market. They represent the attitudes of the part of the market that is already drawn to your brand.

The market research services market is growing rapidly, which signifies a strong interest in market research as we enter 2024. The market is expected to grow from roughly $75 billion in 2021 to $90.79 billion in 2025 .

Free Market Research Kit

• SWOT Analysis Template
• Survey Template
• Focus Group Template

You're all set!

Click this link to access this resource at any time.

Why do market research?

Market research allows you to meet your buyer where they are.

As our world becomes louder and demands more of our attention, this proves invaluable.

By understanding your buyer's problems, pain points, and desired solutions, you can aptly craft your product or service to naturally appeal to them.

Market research also provides insight into the following:

• Where your target audience and current customers conduct their product or service research
• Which of your competitors your target audience looks to for information, options, or purchases
• What's trending in your industry and in the eyes of your buyer
• Who makes up your market and what their challenges are
• What influences purchases and conversions among your target audience
• Consumer attitudes about a particular topic, pain, product, or brand
• Whether there‘s demand for the business initiatives you’re investing in
• Unaddressed or underserved customer needs that can be flipped into selling opportunity
• Attitudes about pricing for a particular product or service

Ultimately, market research allows you to get information from a larger sample size of your target audience, eliminating bias and assumptions so that you can get to the heart of consumer attitudes.

As a result, you can make better business decisions.

To give you an idea of how extensive market research can get , consider that it can either be qualitative or quantitative in nature — depending on the studies you conduct and what you're trying to learn about your industry.

Qualitative research is concerned with public opinion, and explores how the market feels about the products currently available in that market.

Quantitative research is concerned with data, and looks for relevant trends in the information that's gathered from public records.

That said, there are two main types of market research that your business can conduct to collect actionable information on your products: primary research and secondary research.

Primary Research

Primary research is the pursuit of first-hand information about your market and the customers within your market.

It's useful when segmenting your market and establishing your buyer personas.

Primary market research tends to fall into one of two buckets:

• Exploratory Primary Research: This kind of primary market research normally takes place as a first step — before any specific research has been performed — and may involve open-ended interviews or surveys with small numbers of people.
• Specific Primary Research: This type of research often follows exploratory research. In specific research, you take a smaller or more precise segment of your audience and ask questions aimed at solving a suspected problem.

Secondary Research

Secondary research is all the data and public records you have at your disposal to draw conclusions from (e.g. trend reports, market statistics, industry content, and sales data you already have on your business).

Secondary research is particularly useful for analyzing your competitors . The main buckets your secondary market research will fall into include:

• Public Sources: These sources are your first and most-accessible layer of material when conducting secondary market research. They're often free to find and review — like government statistics (e.g., from the U.S. Census Bureau ).
• Commercial Sources: These sources often come in the form of pay-to-access market reports, consisting of industry insight compiled by a research agency like Pew , Gartner , or Forrester .
• Internal Sources: This is the market data your organization already has like average revenue per sale, customer retention rates, and other historical data that can help you draw conclusions on buyer needs.
• Focus Groups
• Product/ Service Use Research
• Observation-Based Research
• Buyer Persona Research
• Market Segmentation Research
• Pricing Research
• Competitive Analysis Research
• Customer Satisfaction and Loyalty Research
• Brand Awareness Research
• Campaign Research

1. Interviews

Interviews allow for face-to-face discussions so you can allow for a natural flow of conversation. Your interviewees can answer questions about themselves to help you design your buyer personas and shape your entire marketing strategy.

2. Focus Groups

Focus groups provide you with a handful of carefully-selected people that can test out your product and provide feedback. This type of market research can give you ideas for product differentiation.

3. Product/Service Use Research

Product or service use research offers insight into how and why your audience uses your product or service. This type of market research also gives you an idea of the product or service's usability for your target audience.

4. Observation-Based Research

Observation-based research allows you to sit back and watch the ways in which your target audience members go about using your product or service, what works well in terms of UX , and which aspects of it could be improved.

5. Buyer Persona Research

Buyer persona research gives you a realistic look at who makes up your target audience, what their challenges are, why they want your product or service, and what they need from your business or brand.

6. Market Segmentation Research

Market segmentation research allows you to categorize your target audience into different groups (or segments) based on specific and defining characteristics. This way, you can determine effective ways to meet their needs.

7. Pricing Research

Pricing research helps you define your pricing strategy . It gives you an idea of what similar products or services in your market sell for and what your target audience is willing to pay.

8. Competitive Analysis

Competitive analyses give you a deep understanding of the competition in your market and industry. You can learn about what's doing well in your industry and how you can separate yourself from the competition .

9. Customer Satisfaction and Loyalty Research

Customer satisfaction and loyalty research gives you a look into how you can get current customers to return for more business and what will motivate them to do so (e.g., loyalty programs , rewards, remarkable customer service).

10. Brand Awareness Research

Brand awareness research tells you what your target audience knows about and recognizes from your brand. It tells you about the associations people make when they think about your business.

11. Campaign Research

Campaign research entails looking into your past campaigns and analyzing their success among your target audience and current customers. The goal is to use these learnings to inform future campaigns.

• Define your buyer persona.
• Identify a persona group to engage.
• Prepare research questions for your market research participants.
• List your primary competitors.
• Summarize your findings.

1. Define your buyer persona.

You have to understand who your customers are and how customers in your industry make buying decisions.

This is where your buyer personas come in handy. Buyer personas — sometimes referred to as marketing personas — are fictional, generalized representations of your ideal customers.

Use a free tool to create a buyer persona that your entire company can use to market, sell, and serve better.

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How to do market research: The complete guide for your brand

Written by by Jacqueline Zote

Published on  April 13, 2023

Reading time  10 minutes

Blindly putting out content or products and hoping for the best is a thing of the past. Not only is it a waste of time and energy, but you’re wasting valuable marketing dollars in the process. Now you have a wealth of tools and data at your disposal, allowing you to develop data-driven marketing strategies . That’s where market research comes in, allowing you to uncover valuable insights to inform your business decisions.

Conducting market research not only helps you better understand how to sell to customers but also stand out from your competition. In this guide, we break down everything you need to know about market research and how doing your homework can help you grow your business.

Table of contents:

What is market research?

Why is market research important, types of market research, where to conduct market research.

• Steps for conducting market research
• Tools to use for market research

Market research is the process of gathering information surrounding your business opportunities. It identifies key information to better understand your audience. This includes insights related to customer personas and even trends shaping your industry.

Taking time out of your schedule to conduct research is crucial for your brand health. Here are some of the key benefits of market research:

Understand your customers’ motivations and pain points

Most marketers are out of touch with what their customers want. Moreover, these marketers are missing key information on what products their audience wants to buy.

Simply put, you can’t run a business if you don’t know what motivates your customers.

And spoiler alert: Your customers’ wants and needs change. Your customers’ behaviors today might be night and day from what they were a few years ago.

Market research holds the key to understanding your customers better. It helps you uncover their key pain points and motivations and understand how they shape their interests and behavior.

Figure out how to position your brand

Positioning is becoming increasingly important as more and more brands enter the marketplace. Market research enables you to spot opportunities to define yourself against your competitors.

Maybe you’re able to emphasize a lower price point. Perhaps your product has a feature that’s one of a kind. Finding those opportunities goes hand in hand with researching your market.

Maintain a strong pulse on your industry at large

Today’s marketing world evolves at a rate that’s difficult to keep up with.

Fresh products. Up-and-coming brands. New marketing tools. Consumers get bombarded with sales messages from all angles. This can be confusing and overwhelming.

By monitoring market trends, you can figure out the best tactics for reaching your target audience.

Not everyone conducts market research for the same reason. While some may want to understand their audience better, others may want to see how their competitors are doing. As such, there are different types of market research you can conduct depending on your goal.

Interview-based market research allows for one-on-one interactions. This helps the conversation to flow naturally, making it easier to add context. Whether this takes place in person or virtually, it enables you to gather more in-depth qualitative data.

Buyer persona research

Buyer persona research lets you take a closer look at the people who make up your target audience. You can discover the needs, challenges and pain points of each buyer persona to understand what they need from your business. This will then allow you to craft products or campaigns to resonate better with each persona.

Pricing research

In this type of research, brands compare similar products or services with a particular focus on pricing. They look at how much those products or services typically sell for so they can get more competitive with their pricing strategy.

Competitive analysis research

Competitor analysis gives you a realistic understanding of where you stand in the market and how your competitors are doing. You can use this analysis to find out what’s working in your industry and which competitors to watch out for. It even gives you an idea of how well those competitors are meeting consumer needs.

Depending on the competitor analysis tool you use, you can get as granular as you need with your research. For instance, Sprout Social lets you analyze your competitors’ social strategies. You can see what types of content they’re posting and even benchmark your growth against theirs.

Brand awareness research

Conducting brand awareness research allows you to assess your brand’s standing in the market. It tells you how well-known your brand is among your target audience and what they associate with it. This can help you gauge people’s sentiments toward your brand and whether you need to rebrand or reposition.

If you don’t know where to start with your research, you’re in the right place.

There’s no shortage of market research methods out there. In this section, we’ve highlighted research channels for small and big businesses alike.

Considering that Google sees a staggering 8.5 billion searches each day, there’s perhaps no better place to start.

A quick Google search is a potential goldmine for all sorts of questions to kick off your market research. Who’s ranking for keywords related to your industry? Which products and pieces of content are the hottest right now? Who’s running ads related to your business?

For example, Google Product Listing Ads can help highlight all of the above for B2C brands.

The same applies to B2B brands looking to keep tabs on who’s running industry-related ads and ranking for keyword terms too.

There’s no denying that email represents both an aggressive and effective marketing channel for marketers today. Case in point, 44% of online shoppers consider email as the most influential channel in their buying decisions.

Looking through industry and competitor emails is a brilliant way to learn more about your market. For example, what types of offers and deals are your competitors running? How often are they sending emails?

Email is also invaluable for gathering information directly from your customers. This survey message from Asana is a great example of how to pick your customers’ brains to figure out how you can improve your quality of service.

Industry journals, reports and blogs

Don’t neglect the importance of big-picture market research when it comes to tactics and marketing channels to explore. Look to marketing resources such as reports and blogs as well as industry journals

Keeping your ear to the ground on new trends and technologies is a smart move for any business. Sites such as Statista, Marketing Charts, AdWeek and Emarketer are treasure troves of up-to-date data and news for marketers.

And of course, there’s the  Sprout Insights blog . And invaluable resources like The Sprout Social Index™  can keep you updated on the latest social trends.

Social media

If you want to learn more about your target market, look no further than social media. Social offers a place to discover what your customers want to see in future products or which brands are killin’ it. In fact, social media is become more important for businesses than ever with the level of data available.

It represents a massive repository of real-time data and insights that are instantly accessible. Brand monitoring and social listening are effective ways to conduct social media research . You can even be more direct with your approach. Ask questions directly or even poll your audience to understand their needs and preferences.

The 5 steps for how to do market research

Now that we’ve covered the why and where, it’s time to get into the practical aspects of market research. Here are five essential steps on how to do market research effectively.

Step 1: Identify your research topic

First off, what are you researching about? What do you want to find out? Narrow down on a specific research topic so you can start with a clear idea of what to look for.

For example, you may want to learn more about how well your product features are satisfying the needs of existing users. This might potentially lead to feature updates and improvements. Or it might even result in new feature introductions.

Similarly, your research topic may be related to your product or service launch or customer experience. Or you may want to conduct research for an upcoming marketing campaign.

Step 2: Choose a buyer persona to engage

If you’re planning to focus your research on a specific type of audience, decide which buyer persona you want to engage. This persona group will serve as a representative sample of your target audience.

Engaging a specific group of audience lets you streamline your research efforts. As such, it can be a much more effective and organized approach than researching thousands (if not millions) of individuals.

You may be directing your research toward existing users of your product. To get even more granular, you may want to focus on users who have been familiar with the product for at least a year, for example.

Step 3: Start collecting data

The next step is one of the most critical as it involves collecting the data you need for your research. Before you begin, make sure you’ve chosen the right research methods that will uncover the type of data you need. This largely depends on your research topic and goals.

Remember that you don’t necessarily have to stick to one research method. You may use a combination of qualitative and quantitative approaches. So for example, you could use interviews to supplement the data from your surveys. Or you may stick to insights from your social listening efforts.

To keep things consistent, let’s look at this in the context of the example from earlier. Perhaps you can send out a survey to your existing users asking them a bunch of questions. This might include questions like which features they use the most and how often they use them. You can get them to choose an answer from one to five and collect quantitative data.

Plus, for qualitative insights, you could even include a few open-ended questions with the option to write their answers. For instance, you might ask them if there’s any improvement they wish to see in your product.

Step 4: Analyze results

Once you have all the data you need, it’s time to analyze it keeping your research topic in mind. This involves trying to interpret the data to look for a wider meaning, particularly in relation to your research goal.

So let’s say a large percentage of responses were four or five in the satisfaction rating. This means your existing users are mostly satisfied with your current product features. On the other hand, if the responses were mostly ones and twos, you may look for opportunities to improve. The responses to your open-ended questions can give you further context as to why people are disappointed.

Step 5: Make decisions for your business

Now it’s time to take your findings and turn them into actionable insights for your business. In this final step, you need to decide how you want to move forward with your new market insight.

What did you find in your research that would require action? How can you put those findings to good use?

The market research tools you should be using

To wrap things up, let’s talk about the various tools available to conduct speedy, in-depth market research. These tools are essential for conducting market research faster and more efficiently.

Social listening and analytics

Social analytics tools like Sprout can help you keep track of engagement across social media. This goes beyond your own engagement data but also includes that of your competitors. Considering how quickly social media moves, using a third-party analytics tool is ideal. It allows you to make sense of your social data at a glance and ensure that you’re never missing out on important trends.

Email marketing research tools

Keeping track of brand emails is a good idea for any brand looking to stand out in its audience’s inbox.

Tools such as MailCharts ,  Really Good Emails  and  Milled  can show you how different brands run their email campaigns.

Meanwhile, tools like  Owletter  allow you to monitor metrics such as frequency and send-timing. These metrics can help you understand email marketing strategies among competing brands.

Content marketing research

If you’re looking to conduct research on content marketing, tools such as  BuzzSumo  can be of great help. This tool shows you the top-performing industry content based on keywords. Here you can see relevant industry sites and influencers as well as which brands in your industry are scoring the most buzz. It shows you exactly which pieces of content are ranking well in terms of engagements and shares and on which social networks.

SEO and keyword tracking

Monitoring industry keywords is a great way to uncover competitors. It can also help you discover opportunities to advertise your products via organic search. Tools such as  Ahrefs  provide a comprehensive keyword report to help you see how your search efforts stack up against the competition.

Competitor comparison template

For the sake of organizing your market research, consider creating a competitive matrix. The idea is to highlight how you stack up side-by-side against others in your market. Use a  social media competitive analysis template  to track your competitors’ social presence. That way, you can easily compare tactics, messaging and performance. Once you understand your strengths and weaknesses next to your competitors, you’ll find opportunities as well.

Customer persona creator

Finally, customer personas represent a place where all of your market research comes together. You’d need to create a profile of your ideal customer that you can easily refer to. Tools like  Xtensio  can help in outlining your customer motivations and demographics as you zero in on your target market.

Build a solid market research strategy

Having a deeper understanding of the market gives you leverage in a sea of competitors. Use the steps and market research tools we shared above to build an effective market research strategy.

But keep in mind that the accuracy of your research findings depends on the quality of data collected. Turn to Sprout’s social media analytics tools to uncover heaps of high-quality data across social networks.

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How to Do Market Research: The Complete Guide

Learn how to do market research with this step-by-step guide, complete with templates, tools and real-world examples.

Access best-in-class company data

Get trusted first-party funding data, revenue data and firmographics

What are your customers’ needs? How does your product compare to the competition? What are the emerging trends and opportunities in your industry? If these questions keep you up at night, it’s time to conduct market research.

Market research plays a pivotal role in your ability to stay competitive and relevant, helping you anticipate shifts in consumer behavior and industry dynamics. It involves gathering these insights using a wide range of techniques, from surveys and interviews to data analysis and observational studies.

In this guide, we’ll explore why market research is crucial, the various types of market research, the methods used in data collection, and how to effectively conduct market research to drive informed decision-making and success.

What is market research?

Market research is the systematic process of gathering, analyzing and interpreting information about a specific market or industry. The purpose of market research is to offer valuable insight into the preferences and behaviors of your target audience, and anticipate shifts in market trends and the competitive landscape. This information helps you make data-driven decisions, develop effective strategies for your business, and maximize your chances of long-term growth.

Why is market research important? 

By understanding the significance of market research, you can make sure you’re asking the right questions and using the process to your advantage. Some of the benefits of market research include:

• Informed decision-making: Market research provides you with the data and insights you need to make smart decisions for your business. It helps you identify opportunities, assess risks and tailor your strategies to meet the demands of the market. Without market research, decisions are often based on assumptions or guesswork, leading to costly mistakes.
• Customer-centric approach: A cornerstone of market research involves developing a deep understanding of customer needs and preferences. This gives you valuable insights into your target audience, helping you develop products, services and marketing campaigns that resonate with your customers.
• Competitive advantage: By conducting market research, you’ll gain a competitive edge. You’ll be able to identify gaps in the market, analyze competitor strengths and weaknesses, and position your business strategically. This enables you to create unique value propositions, differentiate yourself from competitors, and seize opportunities that others may overlook.
• Risk mitigation: Market research helps you anticipate market shifts and potential challenges. By identifying threats early, you can proactively adjust their strategies to mitigate risks and respond effectively to changing circumstances. This proactive approach is particularly valuable in volatile industries.
• Resource optimization: Conducting market research allows organizations to allocate their time, money and resources more efficiently. It ensures that investments are made in areas with the highest potential return on investment, reducing wasted resources and improving overall business performance.
• Adaptation to market trends: Markets evolve rapidly, driven by technological advancements, cultural shifts and changing consumer attitudes. Market research ensures that you stay ahead of these trends and adapt your offerings accordingly so you can avoid becoming obsolete. 

As you can see, market research empowers businesses to make data-driven decisions, cater to customer needs, outperform competitors, mitigate risks, optimize resources and stay agile in a dynamic marketplace. These benefits make it a huge industry; the global market research services market is expected to grow from $76.37 billion in 2021 to $108.57 billion in 2026 . Now, let’s dig into the different types of market research that can help you achieve these benefits.

Types of market research 

• Qualitative research
• Quantitative research
• Exploratory research
• Descriptive research
• Causal research
• Cross-sectional research
• Longitudinal research

Despite its advantages, 23% of organizations don’t have a clear market research strategy. Part of developing a strategy involves choosing the right type of market research for your business goals. The most commonly used approaches include:

1. Qualitative research

Qualitative research focuses on understanding the underlying motivations, attitudes and perceptions of individuals or groups. It is typically conducted through techniques like in-depth interviews, focus groups and content analysis — methods we’ll discuss further in the sections below. Qualitative research provides rich, nuanced insights that can inform product development, marketing strategies and brand positioning.

2. Quantitative research

Quantitative research, in contrast to qualitative research, involves the collection and analysis of numerical data, often through surveys, experiments and structured questionnaires. This approach allows for statistical analysis and the measurement of trends, making it suitable for large-scale market studies and hypothesis testing. While it’s worthwhile using a mix of qualitative and quantitative research, most businesses prioritize the latter because it is scientific, measurable and easily replicated across different experiments.

3. Exploratory research

Whether you’re conducting qualitative or quantitative research or a mix of both, exploratory research is often the first step. Its primary goal is to help you understand a market or problem so you can gain insights and identify potential issues or opportunities. This type of market research is less structured and is typically conducted through open-ended interviews, focus groups or secondary data analysis. Exploratory research is valuable when entering new markets or exploring new product ideas.

4. Descriptive research

As its name implies, descriptive research seeks to describe a market, population or phenomenon in detail. It involves collecting and summarizing data to answer questions about audience demographics and behaviors, market size, and current trends. Surveys, observational studies and content analysis are common methods used in descriptive research. 

5. Causal research

Causal research aims to establish cause-and-effect relationships between variables. It investigates whether changes in one variable result in changes in another. Experimental designs, A/B testing and regression analysis are common causal research methods. This sheds light on how specific marketing strategies or product changes impact consumer behavior.

6. Cross-sectional research

Cross-sectional market research involves collecting data from a sample of the population at a single point in time. It is used to analyze differences, relationships or trends among various groups within a population. Cross-sectional studies are helpful for market segmentation, identifying target audiences and assessing market trends at a specific moment.

7. Longitudinal research

Longitudinal research, in contrast to cross-sectional research, collects data from the same subjects over an extended period. This allows for the analysis of trends, changes and developments over time. Longitudinal studies are useful for tracking long-term developments in consumer preferences, brand loyalty and market dynamics.

Each type of market research has its strengths and weaknesses, and the method you choose depends on your specific research goals and the depth of understanding you’re aiming to achieve. In the following sections, we’ll delve into primary and secondary research approaches and specific research methods.

Primary vs. secondary market research

Market research of all types can be broadly categorized into two main approaches: primary research and secondary research. By understanding the differences between these approaches, you can better determine the most appropriate research method for your specific goals.

Primary market research 

Primary research involves the collection of original data straight from the source. Typically, this involves communicating directly with your target audience — through surveys, interviews, focus groups and more — to gather information. Here are some key attributes of primary market research:

• Customized data: Primary research provides data that is tailored to your research needs. You design a custom research study and gather information specific to your goals.
• Up-to-date insights: Because primary research involves communicating with customers, the data you collect reflects the most current market conditions and consumer behaviors.
• Time-consuming and resource-intensive: Despite its advantages, primary research can be labor-intensive and costly, especially when dealing with large sample sizes or complex study designs. Whether you hire a market research consultant, agency or use an in-house team, primary research studies consume a large amount of resources and time.

Secondary market research 

Secondary research, on the other hand, involves analyzing data that has already been compiled by third-party sources, such as online research tools, databases, news sites, industry reports and academic studies.

Here are the main characteristics of secondary market research:

• Cost-effective: Secondary research is generally more cost-effective than primary research since it doesn’t require building a research plan from scratch. You and your team can look at databases, websites and publications on an ongoing basis, without needing to design a custom experiment or hire a consultant. 
• Leverages multiple sources: Data tools and software extract data from multiple places across the web, and then consolidate that information within a single platform. This means you’ll get a greater amount of data and a wider scope from secondary research.
• Quick to access: You can access a wide range of information rapidly — often in seconds — if you’re using online research tools and databases. Because of this, you can act on insights sooner, rather than taking the time to develop an experiment. 

So, when should you use primary vs. secondary research? In practice, many market research projects incorporate both primary and secondary research to take advantage of the strengths of each approach.

One rule of thumb is to focus on secondary research to obtain background information, market trends or industry benchmarks. It is especially valuable for conducting preliminary research, competitor analysis, or when time and budget constraints are tight. Then, if you still have knowledge gaps or need to answer specific questions unique to your business model, use primary research to create a custom experiment. 

Market research methods

• Surveys and questionnaires
• Focus groups
• Observational research
• Online research tools
• Experiments
• Content analysis
• Ethnographic research

How do primary and secondary research approaches translate into specific research methods? Let’s take a look at the different ways you can gather data: 

1. Surveys and questionnaires

Surveys and questionnaires are popular methods for collecting structured data from a large number of respondents. They involve a set of predetermined questions that participants answer. Surveys can be conducted through various channels, including online tools, telephone interviews and in-person or online questionnaires. They are useful for gathering quantitative data and assessing customer demographics, opinions, preferences and needs. On average, customer surveys have a 33% response rate , so keep that in mind as you consider your sample size.

2. Interviews

Interviews are in-depth conversations with individuals or groups to gather qualitative insights. They can be structured (with predefined questions) or unstructured (with open-ended discussions). Interviews are valuable for exploring complex topics, uncovering motivations and obtaining detailed feedback. 

3. Focus groups

The most common primary research methods are in-depth webcam interviews and focus groups. Focus groups are a small gathering of participants who discuss a specific topic or product under the guidance of a moderator. These discussions are valuable for primary market research because they reveal insights into consumer attitudes, perceptions and emotions. Focus groups are especially useful for idea generation, concept testing and understanding group dynamics within your target audience.

4. Observational research

Observational research involves observing and recording participant behavior in a natural setting. This method is particularly valuable when studying consumer behavior in physical spaces, such as retail stores or public places. In some types of observational research, participants are aware you’re watching them; in other cases, you discreetly watch consumers without their knowledge, as they use your product. Either way, observational research provides firsthand insights into how people interact with products or environments.

5. Online research tools

You and your team can do your own secondary market research using online tools. These tools include data prospecting platforms and databases, as well as online surveys, social media listening, web analytics and sentiment analysis platforms. They help you gather data from online sources, monitor industry trends, track competitors, understand consumer preferences and keep tabs on online behavior. We’ll talk more about choosing the right market research tools in the sections that follow.

6. Experiments

Market research experiments are controlled tests of variables to determine causal relationships. While experiments are often associated with scientific research, they are also used in market research to assess the impact of specific marketing strategies, product features, or pricing and packaging changes.

7. Content analysis

Content analysis involves the systematic examination of textual, visual or audio content to identify patterns, themes and trends. It’s commonly applied to customer reviews, social media posts and other forms of online content to analyze consumer opinions and sentiments.

8. Ethnographic research

Ethnographic research immerses researchers into the daily lives of consumers to understand their behavior and culture. This method is particularly valuable when studying niche markets or exploring the cultural context of consumer choices.

How to do market research

• Set clear objectives
• Identify your target audience
• Choose your research methods
• Use the right market research tools
• Collect data
• Analyze data 
• Interpret your findings
• Identify opportunities and challenges
• Make informed business decisions
• Monitor and adapt

Now that you have gained insights into the various market research methods at your disposal, let’s delve into the practical aspects of how to conduct market research effectively. Here’s a quick step-by-step overview, from defining objectives to monitoring market shifts.

1. Set clear objectives

When you set clear and specific goals, you’re essentially creating a compass to guide your research questions and methodology. Start by precisely defining what you want to achieve. Are you launching a new product and want to understand its viability in the market? Are you evaluating customer satisfaction with a product redesign? 

Start by creating SMART goals — objectives that are specific, measurable, achievable, relevant and time-bound. Not only will this clarify your research focus from the outset, but it will also help you track progress and benchmark your success throughout the process. 

You should also consult with key stakeholders and team members to ensure alignment on your research objectives before diving into data collecting. This will help you gain diverse perspectives and insights that will shape your research approach.

2. Identify your target audience

Next, you’ll need to pinpoint your target audience to determine who should be included in your research. Begin by creating detailed buyer personas or stakeholder profiles. Consider demographic factors like age, gender, income and location, but also delve into psychographics, such as interests, values and pain points.

The more specific your target audience, the more accurate and actionable your research will be. Additionally, segment your audience if your research objectives involve studying different groups, such as current customers and potential leads.

If you already have existing customers, you can also hold conversations with them to better understand your target market. From there, you can refine your buyer personas and tailor your research methods accordingly.

3. Choose your research methods

Selecting the right research methods is crucial for gathering high-quality data. Start by considering the nature of your research objectives. If you’re exploring consumer preferences, surveys and interviews can provide valuable insights. For in-depth understanding, focus groups or observational research might be suitable. Consider using a mix of quantitative and qualitative methods to gain a well-rounded perspective. 

You’ll also need to consider your budget. Think about what you can realistically achieve using the time and resources available to you. If you have a fairly generous budget, you may want to try a mix of primary and secondary research approaches. If you’re doing market research for a startup , on the other hand, chances are your budget is somewhat limited. If that’s the case, try addressing your goals with secondary research tools before investing time and effort in a primary research study. 

4. Use the right market research tools

Whether you’re conducting primary or secondary research, you’ll need to choose the right tools. These can help you do anything from sending surveys to customers to monitoring trends and analyzing data. Here are some examples of popular market research tools:

• Market research software: Crunchbase is a platform that provides best-in-class company data, making it valuable for market research on growing companies and industries. You can use Crunchbase to access trusted, first-party funding data, revenue data, news and firmographics, enabling you to monitor industry trends and understand customer needs.

• Survey and questionnaire tools: SurveyMonkey is a widely used online survey platform that allows you to create, distribute and analyze surveys. Google Forms is a free tool that lets you create surveys and collect responses through Google Drive.
• Data analysis software: Microsoft Excel and Google Sheets are useful for conducting statistical analyses. SPSS is a powerful statistical analysis software used for data processing, analysis and reporting.
• Social listening tools: Brandwatch is a social listening and analytics platform that helps you monitor social media conversations, track sentiment and analyze trends. Mention is a media monitoring tool that allows you to track mentions of your brand, competitors and keywords across various online sources.
• Data visualization platforms: Tableau is a data visualization tool that helps you create interactive and shareable dashboards and reports. Power BI by Microsoft is a business analytics tool for creating interactive visualizations and reports.

5. Collect data

There’s an infinite amount of data you could be collecting using these tools, so you’ll need to be intentional about going after the data that aligns with your research goals. Implement your chosen research methods, whether it’s distributing surveys, conducting interviews or pulling from secondary research platforms. Pay close attention to data quality and accuracy, and stick to a standardized process to streamline data capture and reduce errors. 

6. Analyze data

Once data is collected, you’ll need to analyze it systematically. Use statistical software or analysis tools to identify patterns, trends and correlations. For qualitative data, employ thematic analysis to extract common themes and insights. Visualize your findings with charts, graphs and tables to make complex data more understandable.

If you’re not proficient in data analysis, consider outsourcing or collaborating with a data analyst who can assist in processing and interpreting your data accurately.

7. Interpret your findings

Interpreting your market research findings involves understanding what the data means in the context of your objectives. Are there significant trends that uncover the answers to your initial research questions? Consider the implications of your findings on your business strategy. It’s essential to move beyond raw data and extract actionable insights that inform decision-making.

Hold a cross-functional meeting or workshop with relevant team members to collectively interpret the findings. Different perspectives can lead to more comprehensive insights and innovative solutions.

8. Identify opportunities and challenges

Use your research findings to identify potential growth opportunities and challenges within your market. What segments of your audience are underserved or overlooked? Are there emerging trends you can capitalize on? Conversely, what obstacles or competitors could hinder your progress?

Lay out this information in a clear and organized way by conducting a SWOT analysis, which stands for strengths, weaknesses, opportunities and threats. Jot down notes for each of these areas to provide a structured overview of gaps and hurdles in the market.

9. Make informed business decisions

Market research is only valuable if it leads to informed decisions for your company. Based on your insights, devise actionable strategies and initiatives that align with your research objectives. Whether it’s refining your product, targeting new customer segments or adjusting pricing, ensure your decisions are rooted in the data.

At this point, it’s also crucial to keep your team aligned and accountable. Create an action plan that outlines specific steps, responsibilities and timelines for implementing the recommendations derived from your research. 

10. Monitor and adapt

Market research isn’t a one-time activity; it’s an ongoing process. Continuously monitor market conditions, customer behaviors and industry trends. Set up mechanisms to collect real-time data and feedback. As you gather new information, be prepared to adapt your strategies and tactics accordingly. Regularly revisiting your research ensures your business remains agile and reflects changing market dynamics and consumer preferences.

Online market research sources

As you go through the steps above, you’ll want to turn to trusted, reputable sources to gather your data. Here’s a list to get you started:

• Crunchbase: As mentioned above, Crunchbase is an online platform with an extensive dataset, allowing you to access in-depth insights on market trends, consumer behavior and competitive analysis. You can also customize your search options to tailor your research to specific industries, geographic regions or customer personas.

• Academic databases: Academic databases, such as ProQuest and JSTOR , are treasure troves of scholarly research papers, studies and academic journals. They offer in-depth analyses of various subjects, including market trends, consumer preferences and industry-specific insights. Researchers can access a wealth of peer-reviewed publications to gain a deeper understanding of their research topics.
• Government and NGO databases: Government agencies, nongovernmental organizations and other institutions frequently maintain databases containing valuable economic, demographic and industry-related data. These sources offer credible statistics and reports on a wide range of topics, making them essential for market researchers. Examples include the U.S. Census Bureau , the Bureau of Labor Statistics and the Pew Research Center .
• Industry reports: Industry reports and market studies are comprehensive documents prepared by research firms, industry associations and consulting companies. They provide in-depth insights into specific markets, including market size, trends, competitive analysis and consumer behavior. You can find this information by looking at relevant industry association databases; examples include the American Marketing Association and the National Retail Federation .
• Social media and online communities: Social media platforms like LinkedIn or Twitter (X) , forums such as Reddit and Quora , and review platforms such as G2 can provide real-time insights into consumer sentiment, opinions and trends. 

Market research examples

At this point, you have market research tools and data sources — but how do you act on the data you gather? Let’s go over some real-world examples that illustrate the practical application of market research across various industries. These examples showcase how market research can lead to smart decision-making and successful business decisions.

Example 1: Apple’s iPhone launch

Apple ’s iconic iPhone launch in 2007 serves as a prime example of market research driving product innovation in tech. Before the iPhone’s release, Apple conducted extensive market research to understand consumer preferences, pain points and unmet needs in the mobile phone industry. This research led to the development of a touchscreen smartphone with a user-friendly interface, addressing consumer demands for a more intuitive and versatile device. The result was a revolutionary product that disrupted the market and redefined the smartphone industry.

Example 2: McDonald’s global expansion

McDonald’s successful global expansion strategy demonstrates the importance of market research when expanding into new territories. Before entering a new market, McDonald’s conducts thorough research to understand local tastes, preferences and cultural nuances. This research informs menu customization, marketing strategies and store design. For instance, in India, McDonald’s offers a menu tailored to local preferences, including vegetarian options. This market-specific approach has enabled McDonald’s to adapt and thrive in diverse global markets.

Example 3: Organic and sustainable farming

The shift toward organic and sustainable farming practices in the food industry is driven by market research that indicates increased consumer demand for healthier and environmentally friendly food options. As a result, food producers and retailers invest in sustainable sourcing and organic product lines — such as with these sustainable seafood startups — to align with this shift in consumer values. 

The bottom line? Market research has multiple use cases and is a critical practice for any industry. Whether it’s launching groundbreaking products, entering new markets or responding to changing consumer preferences, you can use market research to shape successful strategies and outcomes.

Market research templates

You finally have a strong understanding of how to do market research and apply it in the real world. Before we wrap up, here are some market research templates that you can use as a starting point for your projects:

• Smartsheet competitive analysis templates : These spreadsheets can serve as a framework for gathering information about the competitive landscape and obtaining valuable lessons to apply to your business strategy.
• SurveyMonkey product survey template : Customize the questions on this survey based on what you want to learn from your target customers.
• HubSpot templates : HubSpot offers a wide range of free templates you can use for market research, business planning and more.
• SCORE templates : SCORE is a nonprofit organization that provides templates for business plans, market analysis and financial projections.
• SBA.gov : The U.S. Small Business Administration offers templates for every aspect of your business, including market research, and is particularly valuable for new startups. 

Strengthen your business with market research

When conducted effectively, market research is like a guiding star. Equipped with the right tools and techniques, you can uncover valuable insights, stay competitive, foster innovation and navigate the complexities of your industry.

Throughout this guide, we’ve discussed the definition of market research, different research methods, and how to conduct it effectively. We’ve also explored various types of market research and shared practical insights and templates for getting started. 

Now, it’s time to start the research process. Trust in data, listen to the market and make informed decisions that guide your company toward lasting success.

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What is a Marketing Research Report and How to Write It?

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Enjoy reading this blog post written by our experts or partners.

If you want to see what Databox can do for you, click here .

There is nothing more embarrassing for a marketer than to hear a client say “…this doesn’t quite address the business questions that we need to answer.” And unfortunately, this is a rather common occurrence in market research reporting that most marketers would care to admit.

So, why do most market research reports fail to meet client expectations? Well, in most cases, because there is more emphasis on methodology and analytic techniques used to craft the report rather than relying on data visualization, creative story-telling, and outlining actionable direction/steps.

Now, our next big question is, how do you avoid your client’s dreaded deer-in-the-headlights reaction when presenting such a report? This blog post will answer this and much more, as we go through the following:

What Is a Market Research Report?

Why is market research important, differences between primary and secondary market research, types of market research, market research reports advantages and disadvantages, how to do market research, how to prepare a market research report: 5 steps, marketing research report templates, marketing research reports best practices, bring your market research reports a step further with databox.

The purpose of creating a market research report is to make calculated decisions about business ideas. Market research is done to evaluate the feasibility of a new product or service, through research conducted with potential consumers. The information obtained from conducting market research is then documented in a formal report that should contain the following details:

• The characteristics of your ideal customers
• You customers buying habits
• The value your product or service can bring to those customers
• A list of your top competitors

Every business aims to provide the best possible product or service at the lowest cost possible. Simply said, market research is important because it helps you understand your customers and determine whether the product or service that you are about to launch is worth the effort.

Here is an example of a customer complaint that may result in more detailed market research:

Suppose you sell widgets, and you want your widget business to succeed over the long term. Over the years, you have developed many different ways of making widgets. But a couple of years ago, a customer complained that your widgets were made of a cheap kind of foam that fell apart after six months. You didn’t think at the time that this was a major problem, but now you know it.

The customer is someone you really want to keep. So, you decide to research this complaint. You set up a focus group of people who use widgets and ask them what they think about the specific problem. After the conducted survey you’ll get a better picture of customer opinions, so you can either decide to make the changes regarding widget design or just let it go.

PRO TIP: How Well Are Your Marketing KPIs Performing?

Like most marketers and marketing managers, you want to know how well your efforts are translating into results each month. How much traffic and new contact conversions do you get? How many new contacts do you get from organic sessions? How are your email campaigns performing? How well are your landing pages converting? You might have to scramble to put all of this together in a single report, but now you can have it all at your fingertips in a single Databox dashboard.

Our Marketing Overview Dashboard includes data from Google Analytics 4 and HubSpot Marketing with key performance metrics like:

• Sessions . The number of sessions can tell you how many times people are returning to your website. Obviously, the higher the better.
• New Contacts from Sessions . How well is your campaign driving new contacts and customers?
• Marketing Performance KPIs . Tracking the number of MQLs, SQLs, New Contacts and similar will help you identify how your marketing efforts contribute to sales.
• Email Performance . Measure the success of your email campaigns from HubSpot. Keep an eye on your most important email marketing metrics such as number of sent emails, number of opened emails, open rate, email click-through rate, and more.
• Blog Posts and Landing Pages . How many people have viewed your blog recently? How well are your landing pages performing?

Now you can benefit from the experience of our Google Analytics and HubSpot Marketing experts, who have put together a plug-and-play Databox template that contains all the essential metrics for monitoring your leads. It’s simple to implement and start using as a standalone dashboard or in marketing reports, and best of all, it’s free!

You can easily set it up in just a few clicks – no coding required.

To set up the dashboard, follow these 3 simple steps:

Step 1: Get the template 

Step 2: Connect your HubSpot and Google Analytics 4 accounts with Databox. 

Step 3: Watch your dashboard populate in seconds.

Marketing research requires both primary and secondary market research. But what does that mean and what are the main differences?

Primary market research takes in information directly from customers, usually as participants in surveys. Usually, it is consisted of:

• Exploratory Primary Research – This type of research helps to identify possible problem areas, and it’s not focused on discovering specific information about customers. As with any research, exploratory primary research should be conducted carefully. Researchers need to craft an interviewing or surveying plan, and gather enough respondents to ensure reasonable levels of statistical reliability.
• Specific Primary Research – This type of research is one of the best ways to approach a problem because it relies on existing customer data. Specific research provides a deeper, more thorough understanding of the problem and its potential solutions. The greatest advantage of specific research is that it lets you explore a very specific question, and focus on a specific problem or an opportunity.

Secondary market research collects information from other sources such as databases, trend reports, market or government statistics, industry content, etc. We can divide secondary market research into 3 categories:

• Public market data – Public sources range from academic journals and government reports to tax returns and court documents. These sources aren’t always easy to find. Many are available only in print in libraries and archives. You have to look beyond search engines like Google to find public source documents.
• Commercial data – Those are typically created by specialized agencies like Pew, Gartner or Forrester. the research agencies are quite expensive, but they provide a lot of useful information.
• Internal data – Your organization’s databases are gold mines for market research. In the best cases, your salespeople can tell you what they think about customers. Your salespeople are your direct sources of information about the market. Don’t underestimate your internal data.

In general, primary research is more reliable than secondary research, because researchers have to interview people directly. But primary research is expensive and time-consuming. Secondary research can be quicker and less expensive.

There are plenty of ways to conduct marketing research reports. Mostly, the type of research done will depend on your goals. Here are some types of market research often conducted by marketers.

Focus Groups

Product/service use research, observation-based research, buyer persona research, market segmentation research, pricing research, competitive analysis research, customer satisfaction and loyalty research, brand awareness research, campaign research.

An interview is an interactive process of asking and answering questions and observing your respondent’s responses. Interviews are one of the most commonly used tools in market research . An interview allows an organization to observe, in detail, how its consumers interact with its products and services. It also allows an organization to address specific questions.

A focus group is a group of people who get together to discuss a particular topic. A moderator leads the discussion and takes notes. The main benefit of focus groups is that they are quick and easy to conduct. You can gather a group of carefully-selected people, give them a product to try out, and get their feedback within a few hours/days.

Product or service use research helps you obtain useful information about your product or service such as:

• What your current customers do with the product/service
• Which features of the product/service are particularly important to your customers
• What they dislike about the product/service
• What they would change about the product/service

Observation-based research helps you to observe your target audience interacting with your product or service. You will see the interactions and which aspects work well and which could be improved. The main point is to directly experience the feedback from your target audience’s point of view.

Personas are an essential sales tool. By knowing your buyers’ pain points and the challenges they face, you can create better content, target messaging, and campaigns for them. Buyer persona research is based on market research, and it’s built around data that describes your customers’ demographics, behaviors, motivations, and concerns. Sales reporting software can significantly help you develop buyer personas when you gain insights after you collected all information.

Market segmentation research is carried out to better understand existing and potential market segments. The objective is to determine how to target different market segments and how they differ from each other. The three most important steps in writing a market segmentation research report are:

• Defining the problem
• Determining the solution [and]
• Defining the market

Related : 9 Customer Segmentation Tips to Personalize Ecommerce Marketing and Drive More Sales

A price that is too high, or too low, can kill a business. And without good market research, you don’t really know what is a good price for your product. Pricing research helps you define your pricing strategy.

In a competitive analysis, you define your “competition” as any other entity that competes with you in your market, whether you’re selling a widget or a piece of real estate. With competitive analysis research, you can find out things like:

• Who your competitors are
• What they’ve done in the past
• What’s working well for them
• Their weaknesses
• How they’re positioned in the market
• How they market themselves
• What they’re doing that you’re not

Related : How to Do an SEO Competitive Analysis: A Step-by-Step Guide

In today’s marketplace, companies are increasingly focused on customer loyalty. What your customers want is your product, but, more importantly, they want it delivered with a service that exceeds their expectations. Successful companies listen to their customers and respond accordingly. That’s why customer satisfaction and loyalty research is a critical component of that basic equation.

Related : 11 Tactics for Effectively Measuring Your Customer Service ROI

Who you are, what you stand for, what you offer, what you believe in, and what your audience thinks of you is all wrapped up in brand. Brand awareness research tells what your target audience knows about your brand and what’s their experience like.

A campaign research report is a detailed account of how your marketing campaign performed. It includes all the elements that went into creating the campaign: planning, implementation, and measurement.

Here are some of the top advantages and disadvantages of doing market research and crafting market research reports.

• Identify business opportunities – A market research report can be used to analyze potential markets and new products. It can give information about customer needs, preferences, and attitudes. Also, it compare products and services.
• A clear understanding of your customers – A market report gives company’s marketing department an in-depth picture about customers’ needs and wants. This knowledge can be used to improve products, prices, and advertising.
• Mitigates risks – 30% of small businesses fail within the first two years. Why is this so? The answer is that entrepreneurs are risk takers. However, there are risks that could be avoided. A good marketing research will help you identify those risks and allow you to mitigate them.
• Clear data-driven insights – Market research encompasses a wide range of activities, from determining market size and segment to forecasting demand, and from identifying competitors to monitoring pricing. All of these are quantified and measurable which means that gives you a clear path for building unique decisions based on numbers.

Disadvantages

• It’s not cheap – Although market research can be done for as little as $500, large markets like the United States can run into millions of dollars. If a research is done for a specific product, the budget may be even much higher. The budget also depends on the quality of the research. The more expensive it is, the more time the research will take.
• Some insights could be false – For example, if you are conducting a survey, data may be inadequate or inaccurate because respondents can, well, simply be dishonest and lie.

Here are the essential steps you need to take when doing market research:

Define your buyer persona

Identify a persona group to engage, prepare research questions for your market research participants, list your primary competitors, summarize your findings.

The job of a marketing persona is to describe your ideal customer and to tell you what they want, what motivates them, what frustrates them, and what limits them. Finding out these things means you have a better chance of designing your products, services, marketing messages, and brand around real customers. There is no one right way to create a buyer persona, though.

For example, if you’re in an industry focused on education, you could include things like:

• Educational level
• Education background

It’s recommended that you create 3-5 buyer personas for your products, based on your ideal customer.

This should be a representative sample of your target customers so you can better understand their behavior. You want to find people who fit both your target personas and who represent the broader demographic of your market. People who recently made a purchase or purposefully decided not to make one are a good sample to start with.

The questions you use determine the quality of your results. Of course, the quality of your results also depends on the quality of your participants.

Don’t ask questions that imply a yes or no answer. Instead, use open questions. For example, if you are researching customers about yogurt products, you could ask them: „ What have you heard about yogurt ?” or “ What do you think of yogurt ?“.

Avoid questions that use numbers, such as “ How many times a week do you eat yogurt ?”

Avoid questions that suggest a set of mutually exclusive answers, such as “ Do you like yogurt for breakfast, lunch, or dinner ?”

Avoid questions that imply a scale, such as “ Do you like chocolate-flavored yogurt ?”

Market researchers sometimes call one company the top competitor, another middle competitor, and the third one small competitor. However you classify them, you want to identify at least three companies in each category. Now, for each business on your list, list its key characteristics. For example, if your business sells running shoes, a key characteristic might be the product’s quality.

Next, make a list of your small business’s competitive advantages. These include the unique qualities or features of your business that make it the best choice of customers for the products or services it offers. Make a list of these competitive advantages and list them next to the key characteristics you listed for your business.

You have just finished writing your marketing research report. Everything is out there quantified or qualified. You just have to sum it up and focus on the most important details that are going to make a big impact on your decisions. Clear summary leads to a winning strategy!

Related : How to Prepare a Complete Marketing Report: The KPIs, Analysis, & Action Plan You Need

Here’s how to prepare a market research report in 5 simple steps:

Step 1: Cluster the data

Step 2: prepare an outline, step 3: mention the research methods, step 4: include visuals with narrative explanations, step 5: conclude the report with recommendations.

Your first step is to cluster all the available information into a manageable set. Clustering is the process of grouping information together in a way that emphasizes commonalities and minimizes differences. So, in market research, this will help to organize all the information you have about a product, service, or target market and identify your focus areas.

A marketing research report should be written so that other people can understand it:

• Include background information at the beginning to explain who your audience is and what problem you are trying to solve for them.
• In the body of the report, include a description of the methodology – Explain to the reader how your research was done, what was involved, and why you selected the methodology you used.
• Also in the body of the report, include the results of your market research. These may be quantitative or qualitative, but either way they should answer the questions you posed at the beginning.
• Include the executive summary – A summary of the entire report.

The market research methodology section includes details on the type of research, sample size, any limitations of the studies, research design, sample selection, data collection procedures, and statistical analyses used.

Visuals are an essential part of the presentation. Even the best-written text can be difficult to understand. Charts and graphs are easier to understand than text alone, and they help the reader see how the numbers fit the bigger picture.

But visuals are not the whole story. They are only one part of the presentation. Visuals are a cue for the reader. The narrative gives the story, not just the numbers.

Recommendations tend to follow logically from conclusions and are a response to a certain problem. The recommendation should always be relevant to the research rationale, that is, the recommendation should be based on the results of the research reported in the body of the report.

Now, let’s take a look at some dashboard reporting templates you could use to enhance your market research:

• Semrush (Position Tracking) Report

Brand Awareness Report

Sales pipeline performance report, customer success overview report, stripe (mrr & churn) report, semrush (position tracking) report template.

This free SEMRush dashboard template will help you monitor how your website’s search visibility on search engines evolves on a monthly basis. This dashboard contains all of the information you need to make changes and improve the ranking results of your business in Google Search.

This Brand Awareness Report will help you to get a sense of your brand awareness performance in Google Analytics, Google Organic Search, and Facebook. Use this dashboard to track brand awareness the same way you track other marketing campaigns.

Are your sales and marketing funnel healthy and growing? How is your sales and marketing funnel performing? What are the key conversion rates between your lifecycle stages? With a pipeline performance dashboard , you’ll get all of the answers quickly.

This Customer Success Overview Dashboard allows you to analyze how your customer service team’s responsiveness impacts your business. Use this dashboard to assess the correlation between your customer service performance and churn rate. 

This Stripe dashboard tracks your churn rate and MRR growth in real-time and shows you which customers (and how many of them) you have at any given point in time. All you have to do to get started is to connect your Stripe account.

As we said earlier, there are no strict rules when it comes to writing marketing research reports. On the other hand, you must find your focus if you want to write a report that will make a difference. Here are some best practices you should keep in mind when writing a research report.

• Objectives – The objective of a market research report is to define the problems, identify key issues, and suggest recommendations for further research. If you answer them successfully, you’re on the right way.
• Don’t worry about the format – Be creative. The report could be in a form of a PowerPoint presentation, Excel sheet, interactive dashboard or even a video. Use the format that best fits your audience, but make sure to make it easy to read.
• Include an executive summary, scorecard , or a dashboard – This is really important because time is money, and most people don’t have time to waste. So, how to put everything important in a short role? Address all of the objectives and put them in a graphic dashboard or scorecard. Also, you can write an executive summary template (heart of the report) that can be easily updated and read by managers or CEOs.
• Use storytelling –  A good story always makes a great point because it’s so memorable. Your research report results can double the effect with a catchy story.
• Keep it short – It’s not a secret that we are reading so little in the digital era. Use a lot of white space and bullet points. Too much text on a page means less focus for the reader.
• Be organized – Maintain the order of information. It’s important for the reader to navigate through the report easily. If they want to find some details or specific information it would be great to divide all sections with appropriate references.
• Methodological information – Methodological details could be boring. Include only the most important details that the reader needs to know to understand the big picture.
• Use images (or other visualizations) whenever you can – A good picture speaks for 1.000 words! If you can communicate the point visually, don’t hesitate to do it. It would be a lot easier for those who don’t like a lot of text to understand your results. But don’t push them where you can’t.
• Create readable graphs – The crown of marketing research reports is a comprehensive graph. Make sure to design precise and attractive graphs that will power up and round your story.
• Use the Appendix  – You can include all secondary information such as methodological details and other miscellaneous data in the Appendix at the end of the report.

Market research reports are all about presenting your data in an easy-to-understand way and making calculated decisions about business ideas. But this is something easier said than done.

When busy stakeholders and executives grab a report, they need something that will give them an idea of the results – the big picture that addresses company wide-business goals.

Can a PowerPoint presentation or a PDF report meet those expectations? Most likely not. But a dashboard can.

Keep in mind that even with the best market analysis in the world, your market research report won’t be actionable if you don’t present the data efficiently and in a way that everyone understands what the next steps are. Databox is your key ally in the matter.

Databox dashboards are designed to help you present your market research data with clarity – from identifying what is influencing your business, and understanding where your brand is situated in the market, to gauging the temperature of your niche or industry before a new product/service launch.

Present your research results with efficient, interactive dashboards now by signing up for a free trial .

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13 Market Research Tools: Best in Class for 2023

Most market research tools are designed to make it quicker and easier to find relevant data . Whatever the market, product, or purpose, the right research tools can do just that.

But, let’s be honest, some do it far better than others.

Whether you’re an enterprise firm with complex needs and a budget to suit or a smaller business needing free market research tools, read on to discover which online tools for market research are hot right now.

Note: The top market research tools list has been collated using review platforms like G2 , along with direct feedback I collected from over 500 business leaders in June, 2o22.

#1 Best overall market research tool: Similarweb Digital Research Intelligence

Most-loved feature: The Benchmarking tool

We might be a little biased, but this really is the fastest way to see how you measure up against competitors in any sector or location. Analyze market leaders and rising stars to unpack and track their digital success instantly.

Quick Explainer

Similarweb Research Intelligence is a single source of truth for the online world. Giving any business the ability to quickly analyze the online aspects of any industry or market in an instant. It displays critical insights in a way that makes it easy to view trends, competitive performance, audience insights, growth opportunities, and more. It’s the only market research analysis tool that brings together data from desktop, mobile web, and apps to provide a complete view of the digital landscape.

Key abilities

• Competitive benchmarking
• Market research
• Company research tool
• Audience analysis
• Consumer journey tracker
• Mobile app intelligence

Freemium Version: Yes, there is a lite version of the product that provides limited data for a single user, and a single location.

Free Trial: Yes, there’s a 7-day trial available. Try it out here .

Ongoing Subscription: Yes, you can pay monthly or annually for a subscription. Different levels are available, and each package is tailored. Review pricing and plans for Similarweb here.

Like what you’ve seen so far?

See our market-leading digital research tool in action in this quick 2-minute clip.

#2 Best free market research tool: Think with Google

Most-loved feature: Find my Audience

A way to discover new audiences on YouTube based on things like habits, interests, and intended plans to purchase.

Think with Google is a suite of digital research tools that curate resources from a huge pool of data across the web. It presents them as insights that aren’t typically available elsewhere. It’s a unique way to view trends, insights, and stats. Data isn’t offered in real-time but serves more as a library of figures and facts that take the form of articles, videos, interviews, case studies, and more. In addition to being a place people can go for forward-looking perspectives and data, there are several tools designed to help marketers.

Key functions

• High-level insights into most local or national markets
• Behind the scenes look at cross-platform digital campaigns
• Consumer insights
• Deck-ready stats (not in real-time)
• A range of tools to inform marketing objectives and actions

Freemium Version: The entire suite of market intelligence tools is free.

Free Trial: As a free market research tool, no trial is needed.

Ongoing Subscription: You can subscribe to a newsletter, but not the product.

#3 Best digital research tool for content and FAQ development: Answer the Public

Most-loved feature: Search listening alerts

A pro feature that sends you weekly emails that indicate how search behaviors shift over time. It takes the specific phrase or keywords you’re tracking in the platform and updates you weekly.

Quick Explainer 

Discover the questions people are asking online about key terms, products, or services. It’s designed to help content teams and website owners develop new content ideas, and relevant FAQs that are based on the types of queries people ask online.

• Track important keywords and phrases
• Get weekly emails about changes in search behavior
• Enter any keyword to uncover relevant questions or search terms
• Folders to help organize your research

Freemium Version: Yes. You get a limited number (3) of searches per day.

Free Trial: No.

Ongoing Subscription: Yes. You can pay monthly or annually for this service. Pay-monthly fees are a flat rate of $99. Discounts are offered for yearly subscriptions.

#4 Best tool for market research surveys: SurveyMonkey

Most-loved feature: Question bank

A library of hundreds of questions, pre-written by survey methodologists.

As far as market research surveys go, it’s the leading online research tool for surveys worldwide. With plans to suit the individual through to the enterprise, it’s a feature-rich, easy-to-use platform that encompasses creation, collection, and analysis under one roof. Surveys are optimized for any device and integrate with platforms like Zoom, Salesforce, Marketo, and more.

Key functions 

• Create and send unlimited surveys, quizzes, and polls
• Pop-up online surveys
• Mobile app access to create, send and analyze surveys on-the-go
• Team collaboration function (unlocked with a team plan)
• Survey builder
• Customization and branded surveys (available with advantage or premier plans only)

Freemium Version: Yes

Free Trial: Occasionally, free trials are offered for premium plans.

Ongoing Subscription: Yes, you can pay annually or monthly. There are three different plans to choose from, ranging from $25 to $129 per month.

Helpful: Check out our blog and see 18 different ways to use market research surveys .

#5 Best online research tool for marketplaces: Similarweb Shopper Intelligence

Most-loved feature: Cross-shopping analysis

Cross-shopping analysis shows you how loyal a segment of customers is to a brand, along with what other brands they browsed or bought from. Uncover competitors and discover new partnership opportunities; these are game-changing insights if you sell on any marketplace.

Similarweb Shopper Intelligence is a type of online market research tool that helps you uncover and analyze browsing and buying behavior across marketplaces. Using its data, businesses can track category, product, and brand performance with ease. It helps ecommerce organizations to detect potential threats, unearth new product or category opportunities, discover new potential partnerships, and optimize search strategy and performance.

• Monitor consumer demand for any product, brand, or category
• Retail search strategy optimization
• Consumer behavior insights
• Track cross-shopping, loyalty, and purchase frequency
• Analyze brand awareness

Note: This solution uses a unique data methodology via multiple networks and partnerships. At the time of writing, there is no other consumer behavior insights tool for market research that offers this quality of data for marketplaces.

Freemium Version: No.

Free Trial: Yes. There is usually a 7-day trial available here .

Ongoing Subscription: The price is determined by things like the number of categories and/or domains you want to access. Each quote is customized to a client’s specific needs.

Want to know a little more?

Watch this quick clip to see the best ecommerce digital market research tool in action.

#6 Best market research tool for brand tracking: Latana

Most-loved feature: MoE (margin of error) Readings

To deliver transparency on data confidence levels, Latana’s dashboard includes a feature that allows clients to toggle-on, or toggle-off, margin of error (MoE) readings on all data points. These are highlighted using a traffic-light system of confidence (red=low confidence, orange=medium confidence, and green=high confidence). This small feature makes a big impact — it helps clients to correctly interpret the data and to visibly see quality shortcomings.

Latana is a B2C brand tracking tool that provides granular insights about online audiences. It helps organizations understand how key segments of consumers feel about brands and portrays relevant standings vs. industry rivals.

• Focus on niche consumer segments that matter to your business
• Uncover rival’s audience data and identify opportunities to grow
• Understand brand perception, and track how it changes over time
• Discover the most well-known brands in your industry
• Track rival’s brand awareness across gender, age income, location, and education
• Find out the main purchase drivers for your industry
• Infrastructure gives reach to over 6 billion smartphone users globally for representative brand opinions

I caught up with Latana’s CMO, Angeley Mullens. Here’s what she has to say about their offering.

Ongoing Subscription: Pricing for Latana isn’t available online. All packages are tailored to individual brands and their specific needs.

Enjoy 360 Visibility 24/7

Get the data you need to adapt to market changes and industry trends in an instant.

#7  Best research tool for social media listening: Hootsuite

Most-loved feature: Multi-channel insights

It’s a legacy feature, but one which makes it the best online research tool for social listening and monitoring. Having the ability to easily schedule posts, ad campaigns, and handle responses for every social media channel from within a single platform is what makes this a market-leading digital research tool.

Hootsuite continues to claim the number 1 spot on G2’s list of digital research tools for social media monitoring . It’s a tool to help you manage all aspects of business social media, across multiple channels, in a single platform. As well as being able to manage your socials, it also keeps you up-to-date with the latest trends and activities of your rival’s social media channels.

• Publish and schedule social media posts
• Measure cross-platform results
• Message management
• Social media trend analysis
• Social media ad-campaign management

Freemium Version: Yes. You can get a free version that supports 2 social accounts and 1 user.

Free Trial: Yes. A 30-day free trial is available here .

Ongoing Subscription: There are four plans; professional, team, business, and enterprise; ranging from $49-$739.

#8 Best digital research tool for prospecting: Similarweb Sales Intelligence

Most-loved feature: Insights generator tool

The insights generator shows you unique facts for your prospects and accounts; with complete visibility into their digital strategy and performance. It’s ideal for refining sales and marketing efforts while staying focused on growth.

Similarweb Sales Intelligence helps organizations find viable prospects by showing you who to reach out to, when to do it, and how to capture their attention. The lead generator tool helps you find the right prospects, and key insights help create engaging outreach emails. For sales departments, ecommerce and mar-tech sectors, this type of digital research tool can take prospecting and engagement to a completely new level; along with revenue and growth.

Key functions: 

• Lead generation and enrichment
• Digital insights for 100M+ ecommerce websites, publishers, and advertisers
• Fraud detection
• Sales engagement
• SFDC integration

Free Trial: Yes, if you would like a free trial, please request that here.

Ongoing Subscription: Prices for this digital market research tool varies depending on the package and options chosen. Grab a live demo of the product and get a tailored quote here .

Insightful : If you’re looking at market research tools for the ecommerce industry, bookmark our Ecommerce Trends and Predictions for 2023 to read later.

#9 Best market research analysis tool for data visualization: Tableau

Most-loved feature : Connects to almost any data source

As a clear market leader, and a no-brainer for larger organizations with business intelligence analytics and teams. Tableau leads the way in online research tools for data visualization. It connects to a huge range of data sources and pulls information into a highly-appealing dashboard that is designed to make it easier and faster to explore and manage data . It takes data from platforms like Similarweb, then combines it with other data sources before presenting crisp, clear, insights that have the power to shape strategies and drive key transformations.

• Lightning-fast analytics
• Smart dashboards for richer insights
• Live connection to almost any data source, with automatic updates
• Drag-and-drop style UI: easy to use

Freemium Version: No. However, students and teachers get a year’s free access to the platform.

Free Trial: Yes. You can subscribe to a free 30-day trial.

Ongoing Subscription: Most plans are offered annually, with prices ranging from $15 per month upwards. The price depends on whether you use their hosted or on-premise versions, the number of users, and the inclusion of specific plugins.

#10 Best market research tool for UX testing: Loop11

Most-loved feature: Online usability testing

This feature analyzes the usability of a website with users performing live tasks on a site. It helps you understand user behavior, and shows how and why a website is used.

Loop11 is a market research tool that provides usability testing to help organizations build better websites and products. It comes with a pack of useful features that provide both moderated and unmoderated testing, helping businesses to find the right audience to test prototypes and products. It’s designed to help you see how appealing a product is to a particular audience, determine their preferences, then build these insights into a design.

• Ability to test across multiple devices, including tablet, mobile, or desktop
• User-friendly test builder that requires no coding
• Easy-to-add surveys that collect psychographic and demographic data
• Provides useful metrics like time on task, task completion rates, and NPS
• Mapping of customer journeys during a test period

Free Trial: Yes, a 14-day trial is available here .

Ongoing Subscription: All plans come with the option to pay monthly or annually. Prices range from $199-$599 per month.

#11 Best research tool for measuring customer experience: Temper

Most-loved feature: Rating stream

See real-time feedback as customers respond to questions via website or email channels. The stream provides a detailed view of ratings, comments, locations, referrers, email addresses, and more.

Temper allows any company to find out how customers feel about their product at all times. It directly provides first-party data to a business, preventing the need to design and distribute complex surveys. It can be placed as a widget on the site or in emails, and questions are asked to gain real-time feedback from visitors and customers alike.

• Easily deploy questions across website and email channels
• Quickly spot poor experiences to identify problematic areas of a business or product
• The rating graph gives you a real-time view of results for any question asked
• Public rating wall shows how you’re performing, instilling confidence and trust
• Ratings come with open text fields to give additional context to responses
• Referrer data gives you the ability to segment feedback and relative performance
• Tracking variables let you send data with ratings, such as order numbers, user IDs, etc.
• User targeting lets you determine who sees questions and how often they see them

Freemium Version: There is no freemium version. However, their hobby plan gives you a slimmed-down version of the product and costs $12 per month.

Ongoing Subscription: Four plans are available, ranging from hobbyist to enterprise. The lowest pricing tier starts at $12 monthly, and their top-tier solution costs $199 monthly. All plans are pay-monthly, with a 60-day money-back guarantee.

#12 Best online market research tool for focus groups: Remesh

Most-loved feature: Common topics

In just a few clicks, you can view the themes and topics that are most common with your focus group across an entire session. It groups similar responses, specific phrases, and interesting responses in seconds.

Remesh facilitates live, qualitative conversations with focus groups of up to 1000 people at a time. Replicating the focus group format online delivers powerful segmentation and dynamic capabilities that speed up your time to insight and let you hold a real-time conversation at scale.

• Launch a live conversation with up to 1000 people at a time
• Organize and analyze responses in an instant
• Segment your audience based on demographic and response data
• Share visuals and text-based content with the group to get instant feedback
• The algorithm analyzes open-ended responses in real-time

Freemium Version: No

Free Trial: Yes. However, you must first book a demo with a member of their team.

Ongoing Subscription: Remesh provides custom pricing plans that can only be obtained once you’ve taken a demonstration of their platform with a member of their team.

#13 Top collaboration and documentation tool for market research: BIT.AI

Most-loved feature: Content library + smart search

While it sounds quite basic; in essence, this tool for market research professionals makes it quicker and easier to keep track, share, and store key data. Forget trawling through emails, slack, and g-docs to find files; the smart search feature helps you locate files in an instant.

A dynamic platform that helps researchers collaborate, track, share, and manage research data in a single place. This is one of the best online market research tools for those who need a place to bring together resources like websites, PDFs, articles, images, infographics, blogs, reports, videos, etc. it’s low-cost and connects to some of the most widely used tools. Being able to share multidimensional data with others, or simply keeping track of secondary market research in a single place makes it a firm favorite.

• Over 100 integrations with applications like Tableau, Miro, G-docs, Onedrive, and more
• Real-time editing and live collaboration
• Content Library
• Smart search
• Supports a huge range of content and file types

Freemium Version: Yes. Available for teams of up to 5 collaborators.

Free Trial: Yes, a free trial is available here .

Ongoing Subscription: A range of packages are available, costing between $8-$20 monthly.

Best market research tools for startups

There is another often-forgotten set of tools used for market research that are ideal for startups. If you’ve got zero budget and a little time on your hands, you can do most types of desk research for free. Sources include:

• Company reports, case studies, and whitepapers
• Research and trade associations
• Media coverage
• Internal sales or usage reports
• Academic or scientific journals
• Government and non-government agencies
• Public library records
• Competitor websites
• Educational institutions

Helpful: Check out this article about how to do market research for a startup .

Wrapping up….

With cost and time key considerations for anyone looking at tools for market research, it’s vital to choose wisely. While free market research tools are all good and well, they won’t always serve you when you’re on a deadline or require key insights on a specific competitor, market, or product.

Similarweb helps companies win in the digital world. Whatever the market, goal, or business size, its solutions are designed to help organizations understand their market and compete and beat rivals.

Take it for a test run today. Trial any Similarweb solution free for the first 7-days using this link .

Need to know more about the ROI of Similarweb? 

What are the best market research tools for secondary research?

The internet is probably the best tool for market research there is. It’s a goldmine of secondary market research data. But beware of data validity and check your information is coming from a trusted source.

What are the best market research tools for surveys?

Survey monkey is considered the best online market research tool for surveys, but key players like Typeform and Zoho follow closely behind. Budget and features usually determine the right tool for your needs.

What are the best free market research tools?

The best free tools for market research include: Answer the Public, Think with Google, Similarweb lite, SurveyMonkey’s basic plan, and Hootsuite’s free plan.

What are the best market research tools for qualitative research?

Qualitative research includes things like focus groups, open-ended surveys, case studies, and observation research. As such, the best tool for online research like this would be something like BIT.ai’s documentation and collaboration tool. Another useful tool for qualitative market research would be an online survey provider, like SurveyMonkey, Typeform, or Google Forms.

What are the best market research tools for quantitative research?

As this type of research is focused more on numbers, the best quantitative market research tools include things like Similarweb Digital Research Intelligence and Tableau. Each performs a different function but works together to collect, analyze, and present data in the most useful way possible.

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How To Present Your Market Research Results And Reports In An Efficient Way

Table of Contents

1) What Is A Market Research Report?

2) Market Research Reports Examples

3) Why Do You Need Market Research Reports

4) How To Make A Market Research Report?

5) Types Of Market Research Reports

6) Challenges & Mistakes Market Research Reports

Market research analyses are the go-to solution for many professionals, and for good reason: they save time, offer fresh insights, and provide clarity on your business. In turn, market research reports will help you to refine and polish your strategy. Plus, a well-crafted report will give your work more credibility while adding weight to any marketing recommendations you offer a client or executive.

But, while this is the case, today’s business world still lacks a way to present market-based research results efficiently. The static, antiquated nature of PowerPoint makes it a bad choice for presenting research discoveries, yet it is still widely used to present results. 

Fortunately, things are moving in the right direction. There are online data visualization tools that make it easy and fast to build powerful market research dashboards. They come in handy to manage the outcomes, but also the most important aspect of any analysis: the presentation of said outcomes, without which it becomes hard to make accurate, sound decisions. 

Here, we consider the benefits of conducting research analyses while looking at how to write and present market research reports, exploring their value, and, ultimately, getting the very most from your research results by using professional market research software .

Let’s get started.

What Is a Market Research Report?

A market research report is an online reporting tool used to analyze the public perception or viability of a company, product, or service. These reports contain valuable and digestible information like customer survey responses and social, economic, and geographical insights.

On a typical market research results example, you can interact with valuable trends and gain insight into consumer behavior and visualizations that will empower you to conduct effective competitor analysis. Rather than adding streams of tenuous data to a static spreadsheet, a full market research report template brings the outcomes of market-driven research to life, giving users a data analysis tool to create actionable strategies from a range of consumer-driven insights.

With digital market analysis reports, you can make your business more intelligent more efficient, and, ultimately, meet the needs of your target audience head-on. This, in turn, will accelerate your commercial success significantly.

Your Chance: Want to test a market research reporting software? Explore our 14-day free trial & benefit from interactive research reports!

How To Present Your Results: 4 Essential Market Research Report Templates

When it comes to sharing rafts of invaluable information, research dashboards are invaluable.

Any market analysis report example worth its salt will allow everyone to get a firm grip on their results and discoveries on a single page with ease. These dynamic online dashboards also boast interactive features that empower the user to drill down deep into specific pockets of information while changing demographic parameters, including gender, age, and region, filtering the results swiftly to focus on the most relevant insights for the task at hand.

These four market research report examples are different but equally essential and cover key elements required for market survey report success. You can also modify each and use it as a client dashboard .

While there are numerous types of dashboards that you can choose from to adjust and optimize your results, we have selected the top 3 that will tell you more about the story behind them. Let’s take a closer look.

1. Market Research Report: Brand Analysis

Our first example shares the results of a brand study. To do so, a survey has been performed on a sample of 1333 people, information that we can see in detail on the left side of the board, summarizing the gender, age groups, and geolocation.

**click to enlarge**

At the dashboard's center, we can see the market-driven research discoveries concerning first brand awareness with and without help, as well as themes and celebrity suggestions, to know which image the audience associates with the brand.

Such dashboards are extremely convenient to share the most important information in a snapshot. Besides being interactive (but it cannot be seen on an image), it is even easier to filter the results according to certain criteria without producing dozens of PowerPoint slides. For instance, I could easily filter the report by choosing only the female answers, only the people aged between 25 and 34, or only the 25-34 males if that is my target audience.

Primary KPIs:

a) Unaided Brand Awareness

The first market research KPI in this most powerful report example comes in the form of unaided brand awareness. Presented in a logical line-style chart, this particular market study report sample KPI is invaluable, as it will give you a clear-cut insight into how people affiliate your brand within their niche.

As you can see from our example, based on a specific survey question, you can see how your brand stacks up against your competitors regarding awareness. Based on these outcomes, you can formulate strategies to help you stand out more in your sector and, ultimately, expand your audience.

b) Aided Brand Awareness

This market survey report sample KPI focuses on aided brand awareness. A visualization that offers a great deal of insight into which brands come to mind in certain niches or categories, here, you will find out which campaigns and messaging your target consumers are paying attention to and engaging with.

By gaining access to this level of insight, you can conduct effective competitor research and gain valuable inspiration for your products, promotional campaigns, and marketing messages.

c) Brand image

When it comes to research reporting, understanding how others perceive your brand is one of the most golden pieces of information you could acquire. If you know how people feel about your brand image, you can take informed and very specific actions that will enhance the way people view and interact with your business.

By asking a focused question, this visual of KPIs will give you a definitive idea of whether respondents agree, disagree, or are undecided on particular descriptions or perceptions related to your brand image. If you’re looking to present yourself and your message in a certain way (reliable, charming, spirited, etc.), you can see how you stack up against the competition and find out if you need to tweak your imagery or tone of voice - invaluable information for any modern business.

d) Celebrity analysis

This indicator is a powerful part of our research KPI dashboard on top, as it will give you a direct insight into the celebrities, influencers, or public figures that your most valued consumers consider when thinking about (or interacting with) your brand.

Displayed in a digestible bar chart-style format, this useful metric will not only give you a solid idea of how your brand messaging is perceived by consumers (depending on the type of celebrity they associate with your brand) but also guide you on which celebrities or influencers you should contact.

By working with the right influencers in your niche, you will boost the impact and reach of your marketing campaigns significantly, improving your commercial awareness in the process. And this is the KPI that will make it happen.

2. Market Research Results On Customer Satisfaction

Here, we have some of the most important data a company should care about: their already-existing customers and their perception of their relationship with the brand. It is crucial when we know that it is five times more expensive to acquire a new consumer than to retain one.

This is why tracking metrics like the customer effort score or the net promoter score (how likely consumers are to recommend your products and services) is essential, especially over time. You need to improve these scores to have happy customers who will always have a much bigger impact on their friends and relatives than any of your amazing ad campaigns. Looking at other satisfaction indicators like the quality, pricing, and design, or the service they received is also a best practice: you want a global view of your performance regarding customer satisfaction metrics .

Such research results reports are a great tool for managers who do not have much time and hence need to use them effectively. Thanks to these dashboards, they can control data for long-running projects anytime.

Primary KPIs :

a) Net Promoter Score (NPS)

Another pivotal part of any informative research presentation is your NPS score, which will tell you how likely a customer is to recommend your brand to their peers.

Centered on overall customer satisfaction, your NPS Score can cover the functions and output of many departments, including marketing, sales, and customer service, but also serve as a building block for a call center dashboard . When you’re considering how to present your research effectively, this balanced KPI offers a masterclass. It’s logical, it has a cohesive color scheme, and it offers access to vital information at a swift glance. With an NPS Score, customers are split into three categories: promoters (those scoring your service 9 or 10), passives (those scoring your service 7 or 8), and detractors (those scoring your service 0 to 6). The aim of the game is to gain more promoters. By gaining an accurate snapshot of your NPS Score, you can create intelligent strategies that will boost your results over time.

b) Customer Satisfaction Score (CSAT)

The next in our examples of market research reports KPIs comes in the form of the CSAT. The vast majority of consumers that have a bad experience will not return. Honing in on your CSAT is essential if you want to keep your audience happy and encourage long-term consumer loyalty.

This magnificent, full report KPI will show how satisfied customers are with specific elements of your products or services. Getting to grips with these scores will allow you to pinpoint very specific issues while capitalizing on your existing strengths. As a result, you can take measures to improve your CSAT score while sharing positive testimonials on your social media platforms and website to build trust.

c) Customer Effort Score (CES)

When it comes to presenting research findings, keeping track of your CES Score is essential. The CES Score KPI will give you instant access to information on how easy or difficult your audience can interact with or discover your company based on a simple scale of one to ten.

By getting a clear-cut gauge of how your customers find engagement with your brand, you can iron out any weaknesses in your user experience (UX) offerings while spotting any friction, bottlenecks, or misleading messaging. In doing so, you can boost your CES score, satisfy your audience, and boost your bottom line.

3. Market Research Results On Product Innovation

This final market-driven research example report focuses on the product itself and its innovation. It is a useful report for future product development and market potential, as well as pricing decisions.

Using the same sample of surveyed people as for the first market-focused analytical report , they answer questions about their potential usage and purchase of the said product. It is good primary feedback on how the market would receive the new product you would launch. Then comes the willingness to pay, which helps set a price range that will not be too cheap to be trusted nor too expensive for what it is. That will be the main information for your pricing strategy.

a) Usage Intention

The first of our product innovation KPI-based examples comes in the form of usage intention. When you’re considering how to write a market research report, including metrics centered on consumer intent is critical.

This simple yet effective visualization will allow you to understand not only how users see your product but also whether they prefer previous models or competitor versions . While you shouldn’t base all of your product-based research on this KPI, it is very valuable, and you should use it to your advantage frequently.

b) Purchase Intention

Another aspect to consider when looking at how to present market research data is your audience’s willingness or motivation to purchase your product. Offering percentage-based information, this effective KPI provides a wealth of at-a-glance information to help you make accurate forecasts centered on your product and service offerings.

Analyzing this information regularly will give you the confidence and direction to develop strategies that will steer you to a more prosperous future, meeting the ever-changing needs of your audience on an ongoing basis.

c) Willingness To Pay (WPS)

Our final market research example KPI is based on how willing customers are to pay for a particular service or product based on a specific set of parameters. This dynamic visualization, represented in an easy-to-follow pie chart, will allow you to realign the value of your product (USPs, functions, etc.) while setting price points that are most likely to result in conversions. This is a market research presentation template that every modern organization should use to its advantage.

4. Market Research Report On Customer Demographics 

This particular example of market research report, generated with a modern dashboard creator , is a powerful tool, as it displays a cohesive mix of key demographic information in one intuitive space.

By breaking down these deep pockets of consumer-centric information, you can gain the power to develop more impactful customer communications while personalizing every aspect of your target audience’s journey across every channel or touchpoint. As a result, you can transform theoretical insights into actionable strategies that will result in significant commercial growth. 

Every section of this responsive marketing research report works in unison to build a profile of your core audience in a way that will guide your company’s consumer-facing strategies with confidence. With in-depth visuals based on gender, education level, and tech adoption, you have everything you need to speak directly to your audience at your fingertips.

Let’s look at the key performance indicators (KPIs) of this invaluable market research report example in more detail.

a) Customer By Gender

This KPI is highly visual and offers a clear-cut representation of your company’s gender share over time. By gaining access to this vital information, you can deliver a more personalized experience to specific audience segments while ensuring your messaging is fair, engaging, and inclusive.

b) Customers by education level

The next market analysis report template is a KPI that provides a logical breakdown of your customers’ level of education. By using this as a demographic marker, you can refine your products to suit the needs of your audience while crafting your content in a way that truly resonates with different customer groups.

c) Customers by technology adoption

Particularly valuable if you’re a company that sells tech goods or services, this linear KPI will show you where your customers are in terms of technological know-how or usage. By getting to grips with this information over time, you can develop your products or services in a way that offers direct value to your consumers while making your launches or promotions as successful as possible.

d) Customer age groups

By understanding your customers’ age distribution in detail, you can gain a deep understanding of their preferences. And that’s exactly what this market research report sample KPI does. Presented in a bar chart format, this KPI will give you a full breakdown of your customers’ age ranges, allowing you to build detailed buyer personas and segment your audience effectively.

Why Do You Need Market Research Reports?

As the adage goes, “Look before you leap“ – which is exactly what a research report is here for. As the headlights of a car, they will show you the pitfalls and fast lanes on your road to success: likes and dislikes of a specific market segment in a certain geographical area, their expectations, and readiness. Among other things, a research report will let you:

• Get a holistic view of the market : learn more about the target market and understand the various factors involved in the buying decisions. A broader view of the market lets you benchmark other companies you do not focus on. This, in turn, will empower you to gather the industry data that counts most. This brings us to our next point.
• Curate industry information with momentum: Whether you’re looking to rebrand, improve on an existing service, or launch a new product, time is of the essence. By working with the best market research reports created with modern BI reporting tools , you can visualize your discoveries and data, formatting them in a way that not only unearths hidden insights but also tells a story - a narrative that will gain a deeper level of understanding into your niche or industry. The features and functionality of a market analysis report will help you grasp the information that is most valuable to your organization, pushing you ahead of the pack in the process.
• Validate internal research: Doing the internal analysis is one thing, but double-checking with a third party also greatly helps avoid getting blinded by your own data.
• Use actionable data and make informed decisions: Once you understand consumer behavior as well as the market, your competitors, and the issues that will affect the industry in the future, you are better armed to position your brand. Combining all of it with the quantitative data collected will allow you to more successful product development. To learn more about different methods, we suggest you read our guide on data analysis techniques .
• Strategic planning: When you want to map out big-picture organizational goals, launch a new product development, plan a geographic market expansion, or even a merger and acquisition – all of this strategic thinking needs solid foundations to fulfill the variety of challenges that come along.
• Consistency across the board: Collecting, presenting, and analyzing your results in a way that’s smarter, more interactive, and more cohesive will ensure your customer communications, marketing campaigns, user journey, and offerings meet your audience’s needs consistently across the board. The result? Faster growth, increased customer loyalty, and more profit.
• Better communication: The right market research analysis template (or templates) will empower everyone in the company with access to valuable information - the kind that is relevant and comprehensible. When everyone is moving to the beat of the same drum, they will collaborate more effectively and, ultimately, push the venture forward thanks to powerful online data analysis techniques.
• Centralization: Building on the last point, using a powerful market research report template in the form of a business intelligence dashboard will make presenting your findings to external stakeholders and clients far more effective, as you can showcase a wealth of metrics, information, insights, and invaluable feedback from one centralized, highly visual interactive screen. 
• Brand reputation: In the digital age, brand reputation is everything. By making vital improvements in all of the key areas above, you will meet your customers’ needs head-on with consistency while finding innovative ways to stand out from your competitors. These are the key ingredients of long-term success.

How To Present Market Research Analysis Results?

Here we look at how you should present your research reports, considering the steps it takes to connect with the outcomes you need to succeed:

• Collect your data 

As with any reporting process, you first and foremost need to collect the data you’ll use to conduct your studies. Businesses conduct research studies to analyze their brand awareness, identity, and influence in the market. For product development and pricing decisions, among many others. That said, there are many ways to collect information for a market research report. Among some of the most popular ones, we find: 

• Surveys: Probably the most common way to collect research data, surveys can come in the form of open or closed questions that can be answered anonymously. They are the cheapest and fastest way to collect insights about your customers and business. 
• Interviews : These are face-to-face discussions that allow the researcher to analyze responses as well as the body language of the interviewees. This method is often used to define buyer personas by analyzing the subject's budget, job title, lifestyle, wants, and needs, among other things. 
• Focus groups : This method involves a group of people discussing a topic with a mediator. It is often used to evaluate a new product or new feature or to answer a specific question that the researcher might have. 
• Observation-based research : In this type of research, the researcher or business sits back and watches customers interact with the product without any instructions or help. It allows us to identify pain points as well as strong features. 
• Market segmentation : This study allows you to identify and analyze potential market segments to target. Businesses use it to expand into new markets and audiences. 

These are just a few of the many ways in which you can gather your information. The important point is to keep the research objective as straightforward as possible. Supporting yourself with professional BI solutions to clean, manage, and present your insights is probably the smartest choice.

2. Hone in on your research:

When looking at how to source consumer research in a presentation, you should focus on two areas: primary and secondary research. Primary research comes from your internal data, monitoring existing organizational practices, the effectiveness of sales, and the tools used for communication, for instance. Primary research also assesses market competition by evaluating the company plans of the competitors. Secondary research focuses on existing data collected by a third party, information used to perform benchmarking and market analysis. Such metrics help in deciding which market segments are the ones the company should focus its efforts on or where the brand is standing in the minds of consumers. Before you start the reporting process, you should set your goals, segmenting your research into primary and secondary segments to get to grips with the kind of information you need to work with to achieve effective results.

3. Segment your customers:

To give your market research efforts more context, you should segment your customers into different groups according to the preferences outlined in the survey or feedback results or by examining behavioral or demographic data.

If you segment your customers, you can tailor your market research and analysis reports to display only the information, charts, or graphics that will provide actionable insights into their wants, needs, or industry-based pain points. 

• Identify your stakeholders:

Once you’ve drilled down into your results and segmented your consumer groups, it’s important to consider the key stakeholders within the organization that will benefit from your information the most. 

By looking at both internal and external stakeholders, you will give your results a path to effective presentation, gaining the tools to understand which areas of feedback or data are most valuable, as well as most redundant. As a consequence, you will ensure your results are concise and meet the exact information needs of every stakeholder involved in the process.

• Set your KPIs:

First, remember that your reports should be concise and accurate - straight to the point without omitting any essential information. Work to ensure your insights are clean and organized, with participants grouped into relevant categories (demographics, profession, industry, education, etc.). Once you’ve organized your research, set your goals, and cleaned your data, you should set your KPIs to ensure your report is populated with the right visualizations to get the job done. Explore our full library of interactive KPI examples for inspiration.

• Include competitor’s analysis 

Whether you are doing product innovation research, customer demographics, pricing, or any other, including some level of insights about competitors in your reports is always recommended as it can help your business or client better understand where they stand in the market. That being said, competitor analysis is not as easy as picking a list of companies in the same industry and listing them. Your main competitor can be just a company's division in an entirely different industry. For example, Apple Music competes with Spotify even though Apple is a technology company. Therefore, it is important to carefully analyze competitors from a general but detailed level. 

Providing this kind of information in your reports can also help you find areas that competitors are not exploiting or that are weaker and use them to your advantage to become a market leader. 

• Produce your summary:

To complement your previous efforts, writing an executive summary of one or two pages that will explain the general idea of the report is advisable. Then come the usual body parts:

• An introduction providing background information, target audience, and objectives;
• The qualitative research describes the participants in the research and why they are relevant to the business;
• The survey research outlines the questions asked and answered;
• A summary of the insights and metrics used to draw the conclusions, the research methods chosen, and why;
• A presentation of the findings based on your research and an in-depth explanation of these conclusions.
• Use a mix of visualizations:

When presenting your results and discoveries, you should aim to use a balanced mix of text, graphs, charts, and interactive visualizations.

Using your summary as a guide, you should decide which type of visualization will present each specific piece of market research data most effectively (often, the easier to understand and more accessible, the better).

Doing so will allow you to create a story that will put your research information into a living, breathing context, providing a level of insight you need to transform industry, competitor, or consumer info or feedback into actionable strategies and initiatives.

• Be careful not to mislead 

Expanding on the point above, using a mix of visuals can prove highly valuable in presenting your results in an engaging and understandable way. That being said, when not used correctly, graphs and charts can also become misleading. This is a popular practice in the media, news, and politics, where designers tweak the visuals to manipulate the masses into believing a certain conclusion. This is a very unethical practice that can also happen by mistake when you don’t pick the right chart or are not using it in the correct way. Therefore, it is important to outline the message you are trying to convey and pick the chart type that will best suit those needs. 

Additionally, you should also be careful with the data you choose to display, as it can also become misleading. This can happen if you, for example, cherry-pick data, which means only showing insights that prove a conclusion instead of the bigger picture. Or confusing correlation with causation, which means assuming that because two events happened simultaneously, one caused the other. 

Being aware of these practices is of utmost importance as objectivity is crucial when it comes to dealing with data analytics, especially if you are presenting results to clients. Our guides on misleading statistics and misleading data visualizations can help you learn more about this important topic. 

• Use professional dashboards:

To optimize your market research discoveries, you must work with a dynamic business dashboard . Not only are modern dashboards presentable and customizable, but they will offer you past, predictive, and real-time insights that are accurate, interactive, and yield long-lasting results.

All market research reports companies or businesses gathering industry or consumer-based information will benefit from professional dashboards, as they offer a highly powerful means of presenting your data in a way everyone can understand. And when that happens, everyone wins.

Did you know? The interactive nature of modern dashboards like datapine also offers the ability to quickly filter specific pockets of information with ease, offering swift access to invaluable insights.

• Prioritize interactivity 

The times when reports were static are long gone. Today, to extract the maximum value out of your research data, you need to be able to explore the information and answer any critical questions that arise during the presentation of results. To do so, modern reporting tools provide multiple interactivity features to help you bring your research results to life. 

For instance, a drill-down filter lets you go into lower levels of hierarchical data without generating another graph. For example, imagine you surveyed customers from 10 different countries. In your report, you have a chart displaying the number of customers by country, but you want to analyze a specific country in detail. A drill down filter would enable you to click on a specific country and display data by city on that same chart. Even better, a global filter would allow you to filter the entire report to show only results for that specific country. 

Through the use of interactive filters, such as the one we just mentioned, you’ll not only make the presentation of results more efficient and profound, but you’ll also avoid generating pages-long reports to display static results. All your information will be displayed in a single interactive page that can be filtered and explored upon need.  

• Customize the reports 

This is a tip that is valuable for any kind of research report, especially when it comes to agencies that are reporting to external clients. Customizing the report to match your client’s colors, logo, font, and overall branding will help them grasp the data better, thanks to a familiar environment. This is an invaluable tip as often your audience will not feel comfortable dealing with data and might find it hard to understand or intimidating. Therefore, providing a familiar look that is also interactive and easier to understand will keep them engaged and collaborative throughout the process. 

Plus, customizing the overall appearance of the report will also make your agency look more professional, adding extra value to your service. 

• Know your design essentials 

When you’re presenting your market research reports sample to internal or external stakeholders, having a firm grasp on fundamental design principles will make your metrics and insights far more persuasive and compelling.

By arranging your metrics in a balanced and logical format, you can guide users toward key pockets of information exactly when needed. In turn, this will improve decision-making and navigation, making your reports as impactful as possible.

For essential tips, read our 23 dashboard design principles & best practices to enhance your analytics process.

• Think of security and privacy 

Cyberattacks are increasing at a concerning pace, making security a huge priority for organizations of all sizes today. The costs of having your sensitive information leaked are not only financial but also reputational, as customers might not trust you again if their data ends up in the wrong hands. Given that market research analysis is often performed by agencies that handle data from clients, security and privacy should be a top priority.  

To ensure the required security and privacy, it is necessary to invest in the right tools to present your research results. For instance, tools such as datapine offer enterprise-level security protocols that ensure your information is encrypted and protected at all times. Plus, the tool also offers additional security features, such as being able to share your reports through a password-protected URL or to set viewer rights to ensure only the right people can access and manipulate the data. 

• Keep on improving & evolving

Each time you gather or gain new marketing research reports or market research analysis report intel, you should aim to refine your existing dashboards to reflect the ever-changing landscape around you.

If you update your reports and dashboards according to the new research you conduct and new insights you connect with, you will squeeze maximum value from your metrics, enjoying consistent development in the process.

Types of Market Research Reports: Primary & Secondary Research

With so many market research examples and such little time, knowing how to best present your insights under pressure can prove tricky.

To squeeze every last drop of value from your market research efforts and empower everyone with access to the right information, you should arrange your information into two main groups: primary research and secondary research.

A. Primary research

Primary research is based on acquiring direct or first-hand information related to your industry or sector and the customers linked to it.

Exploratory primary research is an initial form of information collection where your team might set out to identify potential issues, opportunities, and pain points related to your business or industry. This type of research is usually carried out in the form of general surveys or open-ended consumer Q&As, which nowadays are often performed online rather than offline . 

Specific primary research is definitive, with information gathered based on the issues, information, opportunities, or pain points your business has already uncovered. When doing this kind of research, you can drill down into a specific segment of your customers and seek answers to the opportunities, issues, or pain points in question.

When you’re conducting primary research to feed into your market research reporting efforts, it’s important to find reliable information sources. The most effective primary research sources include:

• Consumer-based statistical data
• Social media content
• Polls and Q&A
• Trend-based insights
• Competitor research
• First-hand interviews

B. Secondary research

Secondary research refers to every strand of relevant data or public records you have to gain a deeper insight into your market and target consumers. These sources include trend reports, market stats, industry-centric content, and sales insights you have at your disposal.  Secondary research is an effective way of gathering valuable intelligence about your competitors. 

You can gather very precise, insightful secondary market research insights from:

• Public records and resources like Census data, governmental reports, or labor stats
• Commercial resources like Gartner, Statista, or Forrester
• Articles, documentaries, and interview transcripts

Another essential branch of both primary and secondary research is internal intelligence. When it comes to efficient market research reporting examples that will benefit your organization, looking inward is a powerful move. 

Existing sales, demographic, or marketing performance insights will lead you to valuable conclusions. Curating internal information will ensure your market research discoveries are well-rounded while helping you connect with the information that will ultimately give you a panoramic view of your target market. 

By understanding both types of research and how they can offer value to your business, you can carefully choose the right informational sources, gather a wide range of intelligence related to your specific niche, and, ultimately, choose the right market research report sample for your specific needs.

If you tailor your market research report format to the type of research you conduct, you will present your visualizations in a way that provides the right people with the right insights, rather than throwing bundles of facts and figures on the wall, hoping that some of them stick.

Taking ample time to explore a range of primary and secondary sources will give your discoveries genuine context. By doing so, you will have a wealth of actionable consumer and competitor insights at your disposal at every stage of your organization’s development (a priceless weapon in an increasingly competitive digital age). 

Dynamic market research is the cornerstone of business development, and a dashboard builder is the vessel that brings these all-important insights to life. Once you get into that mindset, you will ensure that your research results always deliver maximum value.

Common Challenges & Mistakes Of Market Research Reporting & Analysis

We’ve explored different types of market research analysis examples and considered how to conduct effective research. Now, it’s time to look at the key mistakes of market research reporting.  Let’s start with the mistakes.

The mistakes

One of the biggest mistakes that stunt the success of a company’s market research efforts is strategy. Without taking the time to gather an adequate mix of insights from various sources and define your key aims or goals, your processes will become disjointed. You will also suffer from a severe lack of organizational vision.

For your market research-centric strategy to work, everyone within the company must be on the same page. Your core aims and objectives must align throughout the business, and everyone must be clear on their specific role. If you try to craft a collaborative strategy and decide on your informational sources from the very start of your journey, your strategy will deliver true growth and intelligence.

• Measurement

Another classic market research mistake is measurement – or, more accurately, a lack of precise measurement. When embarking on market intelligence gathering processes, many companies fail to select the right KPIs and set the correct benchmarks for the task at hand. Without clearly defined goals, many organizations end up with a market analysis report format that offers little or no value in terms of decision-making or market insights.

To drive growth with your market research efforts, you must set clearly defined KPIs that align with your specific goals, aims, and desired outcomes.

• Competition

A common mistake among many new or scaling companies is failing to explore and examine the competition. This will leave you with gaping informational blindspots. To truly benefit from market research, you must gather valuable nuggets of information from every key source available. Rather than solely looking at your consumers and the wider market (which is incredibly important), you should take the time to see what approach your direct competitors have adopted while getting to grips with the content and communications.

One of the most effective ways of doing so (and avoiding such a monumental market research mistake) is by signing up for your competitors’ mailing lists, downloading their apps, and examining their social media content. This will give you inspiration for your own efforts while allowing you to exploit any gaps in the market that your competitors are failing to fill.

The challenges

• Informational quality

We may have an almost infinite wealth of informational insights at our fingertips, but when it comes to market research, knowing which information to trust can prove an uphill struggle.

When working with metrics, many companies risk connecting with inaccurate insights or leading to a fruitless informational rabbit hole, wasting valuable time and resources in the process. To avoid such a mishap, working with a trusted modern market research and analysis sample is the only way forward.

• Senior buy-in

Another pressing market research challenge that stunts organizational growth is the simple case of senior buy-in. While almost every senior decision-maker knows that market research is an essential component of a successful commercial strategy, many are reluctant to invest an ample amount of time or money in the pursuit.

The best way to overcome such a challenge is by building a case that defines exactly how your market research strategies will offer a healthy ROI to every key aspect of the organization, from marketing and sales to customer experience (CX) and beyond.

• Response rates

Low interview, focus group, or poll response rates can have a serious impact on the success and value of your market research strategy. Even with adequate senior buy-in, you can’t always guarantee that you will get enough responses from early-round interviews or poll requests. If you don’t, your market research discoveries run the risk of being shallow or offering little in the way of actionable insight.

To overcome this common challenge, you can improve the incentive you offer your market research prospects while networking across various platforms to discover new contact opportunities. Changing the tone of voice of your ads or emails will also help boost your consumer or client response rates.

Bringing Your Reports a Step Further

Even if it is still widespread for market-style research results presentation, using PowerPoint at this stage is a hassle and presents many downsides and complications. When busy managers or short-on-time top executives grab a report, they want a quick overview that gives them an idea of the results and the big picture that addresses the objectives: they need a dashboard. This can be applied to all areas of a business that need fast and interactive data visualizations to support their decision-making.

We all know that a picture conveys more information than simple text or figures, so managing to bring it all together on an actionable dashboard will convey your message more efficiently. Besides, market research dashboards have the incredible advantage of always being up-to-date since they work with real-time insights: the synchronization/updating nightmare of dozens of PowerPoint slides doesn’t exist for you anymore. This is particularly helpful for tracking studies performed over time that recurrently need their data to be updated with more recent ones.

In today’s fast-paced business environment, companies must identify and grab new opportunities as they arise while staying away from threats and adapting quickly. In order to always be a step further and make the right decisions, it is critical to perform market research studies to get the information needed and make important decisions with confidence.

We’ve asked the question, “What is a market research report?”, and examined the dynamics of a modern market research report example, and one thing’s for sure: a visual market research report is the best way to understand your customer and thus increase their satisfaction by meeting their expectations head-on. 

From looking at a sample of a market research report, it’s also clear that modern dashboards help you see what is influencing your business with clarity, understand where your brand is situated in the market, and gauge the temperature of your niche or industry before a product or service launch. Once all the studies are done, you must present them efficiently to ensure everyone in the business can make the right decisions that result in real progress. Market research reports are your key allies in the matter.

To start presenting your results with efficient, interactive, dynamic research reports and win on tomorrow’s commercial battlefield, try our dashboard reporting software and test every feature with our 14-day free trial !

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• An Overview

Buy-Side Analysts

Sell-side analysts, key differences, the bottom line.

• Investing Basics

Buy-Side vs. Sell-Side Analysts: What’s the Difference?

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Buy-Side vs. Sell-Side Analysts: An Overview

You have probably heard financial media reference analysts, who are believed to provide an unbiased opinion based on proprietary research of a company’s securities. Much has been made of the Wall Street analyst, as though it were a uniform job description.

In reality, there are significant differences between buy-side and sell-side analysts. Both spend much of their day researching companies and industries to identify the winners or losers. On many fundamental levels, however, the jobs are quite different.

Key Takeaways

• When the system functions as it should, both buy-side and sell-side analysts are valuable.
• Smart buy-siders make a point of quickly figuring out who they can trust and rely on in the sell-side community.
• Dedicated sell-side analysts can typically dive deeper than buy-side analysts and really learn the ins and outs of an industry.
• Sell-side analysts typically work for brokerages, while buy-side analysts work for funds.

Buy-side analysts use sell-side reports to make accurate judgment calls about potential investments. Avoiding the negative is often a key part of the buy-side analyst’s job, and many pursue their job from the mindset of figuring out what can go wrong with an idea.

On a day-to-day basis, these professionals read the news (though more of it is from sell-side analysts than the sell-side analyst would read), track down information, build models, and deepen the knowledge of their areas of expertise so they can make the best stock recommendations.

Though the largest institutions typically have their analysts allocated similarly to sell-side analysts, buy-side analysts generally have broader coverage responsibilities. It is not uncommon for funds to have analysts covering the technology or industrials sectors, whereas most sell-side firms have several analysts covering particular industries within those sectors, including software and semiconductors to name a few.

The average annual salary for a buy-side analyst.

Many buy-side analysts spend that time trying to sort out the most useful sell-side analysts as opposed to sell-side analysts to spend most of their time trying to find the best sources of information for their sector. That is not to say that many buy-side analysts do not do proprietary research (the good ones always do), it just means there is significant value to a buy-side analyst in developing a list of the go-to analysts in their space. 

Buy-side firms do not usually pay for or buy the sell-side research outright, but they are often indirectly responsible for a sell-side analyst’s compensation. Usually, the buy-side firm pays  soft dollars  to the sell-side firm, which is a roundabout way of paying for the research.  Soft dollars can be thought of as extra money paid when trades are made through the sell-side firms.

In essence, the sell-side analysts’ research directs the buy-side firm to make trades through their trading department, creating profit for the sell-side firm. Additionally, buy-side analysts often have some say in how trades are directed by their firm, and that is quite often a key component of sell-side analyst compensation.

Analysts also seek to create expert networks that they can rely on for a constant stream of information as it stands to reason that a deeper understanding of a market or product will allow for differentiated calls.

The role of a sell-side research analyst is to follow a list of companies, all typically in the same industry, and provide regular research reports to the firm’s clients. Part of the process requires the analyst to build models to project the firm’s financial results, as well as speak with customers, suppliers, competitors, and other sources with knowledge of the industry.

From the public’s standpoint, the outcome of the analyst’s work is a research report, which includes a set of financial estimates, a price target, and a recommendation as to the stock’s expected performance. The estimates derived from the models of several sell-side analysts can be averaged together to come up with a single expectation called the  consensus estimate .

Stocks may make short-term moves based either on an analyst upgrade or downgrade or on whether they beat or miss expectations during earnings season. If a company beats the consensus estimate, then its stock price typically rises, while the opposite occurs if a company misses the estimate. However, this is not always the case.

Occasionally, sell-side analysts fail to revise their estimates, but their expectations do change. Sometimes financial news will refer to a whisper number , which is an estimate that is different from the consensus estimate. This whisper number becomes the newest, although unwritten, consensus expectation.

When an analyst initiates coverage on a company, they usually assign a rating in the form of buy , sell , or hold . This rating is a signal to the investment community, portraying how the analyst believes the stock price will move in a given time frame. The rating can sometimes be a reflection of the expected stock movement and not a reflection of how the analyst feels that the company will perform.

The average annual salary for a sell-side analyst.

Sell-side analysts convince institutional accounts to direct their trading through the trading desk of the analyst’s firm, which adds marketing to their responsibilities. To capture trading revenue, the analyst must be seen by the buy side as providing valuable services. Since information is valuable, some analysts hunt for new information or proprietary angles on the industry. As such, there is tremendous pressure to be the first to the client with new and different information.

That is not the only way to stand out with clients. Institutional investors value one-on-one meetings with company management and will reward those analysts who arrange those meetings. On a very cynical level, there are times when these analysts become high-priced travel agents.

Complicating matters is the fact that companies often restrict access to management by analysts who don't meet expectations, placing analysts in the uncomfortable position of giving Wall Street useful news and opinions (which may be negative) and maintaining cordial relations with company management. Investment banking  is a huge source of profit for banks, and if an analyst makes a negative recommendation, then the investment banking side of the business may lose that client.

Much of this information is digested and analyzed—it never actually reaches the public page—and cautious investors might not necessarily assume that an analyst’s printed word is their real feeling for a company. 

Although both sell-side and buy-side analysts are charged with following and assessing stocks, there are many differences between the two jobs.

Compensation

On the compensation front, sell-side analysts often make more, but there is a wide range, and buy-side analysts at successful funds (particularly hedge funds ) can do much better. Working conditions arguably tilt in favor of buy-side analysts; sell-side analysts are frequently on the road and often work longer hours, though buy-side analysis is arguably a higher-pressure job.

As the job descriptions might suggest, there are significant differences in what these analysts are paid to do. Speaking realistically, sell-side analysts are paid largely for information flow and to access management (and/or high-quality information sources). Compensation for buy-side analysts is much more dependent upon the quality of recommendations that the analyst makes and the overall success of the fund(s).

The two jobs also differ in the role that accuracy plays. Contrary to what many investors expect, good models and financial estimates have less weight to the role of a sell-side analyst but can be critical for the buy-side analyst. Likewise, price targets and buy/sell/hold calls are not nearly as important to sell-side analysts as some financial media might seem to think. Analysts can be below average when it comes to modeling or stock picks but still do all right as long as they provide useful information.

On the other hand, a buy-side analyst usually cannot afford to be wrong often, or at least not to a degree that significantly affects the fund’s relative performance.

Buy-side and sell-side analysts also have to abide by different rules and standards. Likewise, buy-side analysts typically enjoy less restrictive rules on share ownership, disclosures, and outside employment, at least as far as regulators are concerned (individual employers have different rules concerning these practices).

What Type of Firms Hire Buy-Side and Sell-Side Analysts?

Buy-side analysts work for firms that manage money, such as hedge funds and private equity groups. In contrast, sell-side analysts work for institutions that sell financial products, such as investment banks and brokerages . Over their career, financial analysts may switch between the buy side and the sell side as they develop contacts and areas of expertise.

How Does Research Differ Between Buy-Side and Sell-Side Analysts?

Sell-side analysts typically perform detailed research of specific industries or sectors that buy-side analysts may use as part of their broader research to make investment decision recommendations. Sell-side analysts often start their research by talking to individuals or companies in the industries that they cover, while buy-side analysts usually commence their research by developing a list of go-to sell-side analysts.

Why Should Buy-Side Analysts Provide More Accurate Information Than Sell-Side Analysts?

Buy-side analysts need to provide more accurate information than their sell-side counterparts because their fund’s performance directly relates to the quality of research undertaken. Inaccurate information could result in a decline in relative performance compared to other funds, leading to investor withdrawals.

How Does Compensation Vary Between Buy-Side and Sell-Side Analysts?

Buy-side analysts receive compensation based on the quality of their recommendations. These professionals may receive a bonus if their recommendations help a fund achieve superior returns.

Sell-side analysts, on the other hand, are compensated for the quality of information that they provide. Sell-side analysts may receive a commission on the revenue that their research generates.

The main differences between buy-side and sell-side analysts relate to the type of research they undertake. Buy-side analysts conduct broad research that often uses information from trusted sell-side analysts to make investment recommendations. By comparison, sell-side analysts research specific industries or sectors to generate sales of financial products.

Buy-side analysts usually work for hedge funds, pension funds , or private equity groups and receive compensation based on the accuracy of their investment recommendations. In contrast, sell-side analysts typically work for investment banks or brokerages and are compensated on the quality of their research and how much revenue it generates.

ZipRecruiter. " Buy Side Analyst Salary ."

ZipRecruiter. “ Sell Side Analyst Salary .”

ZipRecruiter. “ Buy Side Research Analyst Salary .”

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The 8 free market research tools and resources you need to know.

With over 400,000 new businesses opening in the United States each month, the need for individual companies to conduct their own market research has never been more urgent.  However, conducting market research isn’t an easy task — it presents challenges to businesses of all shapes and sizes.

With that being said, those with large budgets do enjoy certain advantages. When you have access to an endless array of top-tier tools and resources, you can uncover strategy-changing insights with relative ease.

Does that mean businesses with small (or non-existent) budgets are out of luck? Absolutely not.

Nowadays, free market research tools and resources are abundant — and you’ll be familiar with eight of our favorites by the time you’re done reading this blog post.

But first, some housekeeping:

What is market research?

Market research is the process of gathering and analyzing information about your customers — both current and prospective — with the intent of optimizing your business strategy.

Customer-related information that you may want to gather includes (but is not limited to):

• The goals they want to achieve
• The pain points they want to alleviate
• The income or budget that constrains them
• The products and/or services they use (a.k.a. your competitors)
• The strengths and weaknesses of the products and/or services they use

Why is market research important?

Market research is important because — if you’re thorough and open-minded — it dramatically improves your chances of long-term success. Only through market research can you uncover the insights you need to develop a product or service that (1) satisfies the demands of your prospects and (2) stands out from the competition.

For a complete overview of how conducting market research can benefit your business, here’s Market Research Defined and How to Get Started .

Cool? Cool. Let’s dive into the good stuff.

Top 4 Free Market Research Tools

For clarity, we will define a free market research tool as any tool that:

• Costs nothing, and
• Helps with the collection and/or analysis of customer-related information

Keep in mind that “customer-related information” encompasses everything from a pain point to a weakness of one of your competitors’ products.

1. Google Trends

If you want to get a sense of the level of interest in a particular product or service — as well as how that interest fluctuates over time and across regions — Google Trends is an excellent tool.

All you need to do is enter a search query and toggle with the filters. As an example, take a look at the level of interest in “office supplies'' in the U.S. over the past five years. Perhaps unsurprisingly, interest peaked in February 2020 — at the onset of the COVID-19 pandemic:

Plus, you can explore variations in interest across the 50 states, as well as related topics and queries that are surging in popularity:

The “interest by subregion” data is powerful. In Wyoming, searches for “office supplies” account for a greater percentage of all search queries than in any other state. Your average resident of Wyoming, in other words, is more interested in searching for office supplies than is your average resident of, say, Louisiana — a valuable insight for anyone who sells office supplies online.

Equally valuable is the insight that searches for “where to buy office supplies in bulk” are on the rise — potentially indicative of an emerging pain point.

2. SurveyMonkey

As some of you already know, one of the best ways to conduct market research is to ask your customers a handful of open-ended questions. You can do this for free with SurveyMonkey .

Specifically, with a free SurveyMonkey account, you can ask up to 10 questions and field up to 40 responses with each of your surveys.

Open-ended questions you may ask your customers include (but are not limited to):

• Why did you buy our product?
• What has our product helped you accomplish?
• How does our product compare to others that you’ve used in the past?

With just three questions — well under the limit of a free survey — you can learn quite a bit about your target market. If, for example, the majority of respondents say they bought your product because they were struggling to do their jobs in a cost-effective manner, that gives you a clearer picture of your prospects’ pain points and your competitors’ weaknesses .

3. Make My Persona

As you collect and analyze customer-related information, it’s a good idea to create or tweak your buyer personas : detailed profiles of the semi-fictional people for whom your product or service is designed. In the context of market research, personas are useful because they help you synthesize and comprehend the information you’re gathering.

Thanks to our friends at HubSpot, you can use a wonderful free tool called Make My Persona .

Intuitive and fun, Make My Persona is a seven-step process that walks you through the essential components of your target customer: demographic information, firmographic information, job title, pain points, and so on. And if you want to go beyond the bare essentials, you can add as many extra sections of information as you like.

Important note: Your personas should be dynamic. As you conduct further market research and learn more about your target customers, your personas should evolve accordingly.

4. WordSift

Make My Persona is appealing, in part, because it enables you to make sense of raw data — to separate the signal from the noise. The same can be said about WordSift , the final free tool we’ll be discussing today.

Built to help teachers with the instruction of vocabulary and reading comprehension, WordSift allows you to generate word clouds: images that represent the frequency with which certain words are used in a given body of text. Look what happens when I copy the introduction to this blog post and paste it into WordSift:

Instantaneously — and unsurprisingly — I can conclude that “business,” “market,” and “research” are among the most frequently used words in the introduction to this post.

What does this have to do with market research? Well, let’s say you’ve been using SurveyMonkey to ask your customers about their reasons for buying your product. One by one, if you were to copy their responses and paste them into WordSift, you’d be able to see which words your customers use most often. That’s a market research gold mine!

Top 4 Free Market Research Resources

Again, for clarity, we will define a free market research resource as any resource that:

• Helps with the collection of customer-related information

The scope of “customer-related information" remains the same  —  encompassing everything from a pain point to a weakness of one of your competitors’ products.

5. Bureau of Labor Statistics

A government organization that “measures labor market activity, working conditions, price changes, and productivity in the U.S. economy to support public and private decision-making,” the Bureau of Labor Statistics (BLS) is a wealth of information.

Because this is a blog post about market research — not an economics class — we’ll focus on BLS’ industry- and region-specific information. If you’re on the homepage and you hover over the Data Tools drop-down menu, you’ll see a hyperlink to something titled “Industry at a Glance.” Click on that, find your industry of interest, and explore the dozens of statistics that BLS has aggregated.

If, for example, you’re interested in the apparel manufacturing industry — either because you’re in the industry or you sell into it — you can see how earnings, prices, and productivity figures are changing over time.

Head back to the homepage, hover over the Subjects drop-down menu, and you’ll see a section labeled Geographic Information:

Select your region of interest, filter by state or metropolitan area (if necessary), and take a tour of BLS’ enormous library of area-specific data.

6. U.S. Census Bureau

On a mission to “serve as the [United States’] leading provider of quality data about its people and economy,” the U.S. Census Bureau is another terrific resource that costs nothing to use.

Just as we did with the BLS, we’ll focus on industry- and region-specific information. Admittedly, using the Census website to find industry-specific information is slightly more complicated than it is when using the BLS website. If you’re on the homepage and you hover over the Explore Data drop-down menu, you’ll see a hyperlink titled “Explore Data Main.”

Click on that, and you’ll be brought to the Census’ search engine. Then, click inside the search bar and select “Advanced Search.”

Underneath “Find A Filter,” type in the name of the industry you’re interested in researching. Once the search suggestions load, simply check the appropriate box and click “Search.”

From there, you’ll be able to explore thousands of data tables, maps, and whitepapers — many of them chock-full of industry-specific information that you can use to your advantage.

Finding region-specific information is a bit more straightforward. Head back to the Advanced Search engine, select “Geography” from underneath Browse Filters, and go from there:

7. Pew Research Center

A nonprofit dedicated to “inform[ing] the public about the issues, attitudes, and trends shaping the world,” the Pew Research Center is one of the most authoritative sources of information for anyone striving to make better business decisions.

Whereas the BLS and the Census are (among other things) aggregators of economic data, the Pew Research Center is a “fact tank” — an organization focused on public opinion polling, demographic research, media content analysis, and other forms of social science inquiry. 

So, although you can’t necessarily use Pew to uncover hyper-specific insights related to your industry or region, you can use it to learn more about your target audience. The best way to do this is through the Topics section of the Pew website.

Clicking that hyperlink brings you to an index of dozens of topics, ranging from Online Video to Homeownership to Democracy. Selecting any of these topics will bring you to a list of relevant content — reports, fact tanks, transcripts, and other forms of media that can date back as far as the early 1980s.

As an example, let’s say you’re developing a product or service that targets new homeowners. If you were to click on the Homeownership topic, you’d land on a list of reports like this one:

If I were you, that’s not a report I’d want to overlook!

We’ll wrap up today’s guide with a free resource specifically for those of you in the software world. Designed to help buyers determine which products are best suited to their needs, G2 is the leading source of validated, unbiased software reviews.

G2 is, in other words, an excellent way to find out what your target customers are saying about your competitors’ products. Do a quick search for the type of software you’re developing and you’re in business.

If you were developing a sales compensation software product and you searched this keyword, you’d be brought to the page you see below. To learn more about Spiff — one of your top-rated industry competitors — all you’d need to do is click “Read Spiff Reviews.”

If you want to get granular, you can filter reviews in a number of different ways. As an example, let’s say you’re developing a sales compensation software product specifically for small businesses. G2 has the filter you’re looking for:

And just like that, you’ve got access to dozens of valuable insights like this one:

Start using market research tools today!

If you try to bring a product or service to market without an understanding of your target customers, your chances of success are slim. According to the most recent State of Competitive Intelligence Report , 84% of businesses say their industry has gotten more competitive in the last three years. With the range of choices at your prospects’ fingertips growing by the day, the need for a thorough market research strategy only intensifies.

We hope you find these free market research tools and resources useful. And if you decide to make the leap to a paid solution, make sure to request a demo of Crayon — the competitive intelligence platform that enables you to track, analyze, and act on everything happening outside your businesses’ four walls.

Seeing is believing! Check out Crayon for yourself.

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• Market Research

How to get free market research reports 

• May 29, 2023

Market research reports give you a perspective on your target customer’s mind and help you move on the right path. But most market research platforms and reports are costly. So, how to get free market research reports to get first-hand insights? 

This article will share valuable sources, and places to access free market research reports for your business. But before we begin, let us quickly refresh the basics. 

What are market research reports?

Market research reports offer insights, data, and information about a particular market, region, industry, or demography. Research firms prepare these reports by conducting market research surveys , interviews, statistical analysis, and compiling data from different resources. 

These reports contain information about market size, growth trends, consumer behavior patterns, interests, competitive landscape, target market, and more. 

A business can derive meaningful insights from a market research report to make data-driven marketing, positioning, pricing, or product development decisions. Market research reports can particularly help in the following: 

• Gaining a deep understanding of the target audience’s needs, preferences, and behaviors; 
• Make customer-centric product decisions to achieve product-market fit faster; 
• Standing out in a competitive market by beating the competition; 
• Pivot or adapt to changing customer demands and usage patterns; 
• Discover market opportunities and patterns to expand a business. 

Read More: Why market research is important

Reliable market research sources (with free access).   

Market research is traditionally seen as an expensive process. Fundamentally because there is a lot of legwork and effort involved in doing one-on-one interviews, creating focus groups, deriving data insights, and more. 

Remote work culture, artificial intelligence, and technology have made things more accessible (and affordable). However, sometimes, a business owner still lacks access (or resources) to conduct primary market research. In that case, here are four sources to access reliable market research reports for free: 

Government sources. 

The government collects data from different industries, businesses, and markets annually. Many agencies, like the Bureau of Labor Statistics and the U.S. Census, regularly publish data pertaining to consumer spending, economic trends, demographics, and more. You can use their official portals to access these reports, like:

• U.S. Census Bureau: https://www.census.gov/library/publications.html  
• U.S. Small Business Administration: https://www.sba.gov/
• National Bureau of Economic Research: https://www.nber.org/papers
• Bureau of Economic Analysis: https://www.bea.gov
• National Science Foundation: https://www.nsf.gov/statistics/reports.cfm
• U.S. Energy Information Administration: https://www.eia.gov/reports/
• National Agricultural Statistics Service: https://www.nass.usda.gov/Publications/
• National Center for Health Statistics: https://www.cdc.gov/nchs/products/index.htm
• National Center for Education Statistics: https://nces.ed.gov/pubsearch/index.asp
• Federal Reserve Board: https://www.federalreserve.gov/econres.htm
• National Oceanic and Atmospheric Administration: https://www.noaa.gov/science-data/reports
• U.S. International Trade Commission: https://www.usitc.gov/research_and_analysis.htm
• National Renewable Energy Laboratory: https://www.nrel.gov/analysis/publications.html

Academic institutions. 

Universities, colleges, and academic departments often conduct research as a part of their regular programs and initiatives. 

They are known to publish these research findings in the form of market research reports. Usually, these reports are free for any business owner or individual. 

You can search for business schools like Harvard to access free market research reports by the institution. Here are some more academic sources for free market research reports: 

• Harvard Business School Working Knowledge  
• Wharton Research Data Services
• Stanford Graduate School of Business
• Columbia Business School
• London School of Economics and Political Science
• University of California, Berkeley
• University of Michigan Ross School of Business
• University of Texas at Austin McCombs School of Business
• New York University Stern School of Business

Industry associations. 

Industry associations are one of the best free sources for market research reports. These associations have real-world industry data, including trends, purchasing behaviors, spending patterns, and more, which can be a goldmine for business owners. 

If you are a part of any industry association, there is a high possibility that you will get access to detailed market research reports as a perk. Even if you are not, almost all associations periodically publish free market research reports. You can check their websites to find a relevant report. Here are some prominent industry associations and research data links: 

• National Restaurant Association
• National Retail Federation
• National Association of Home Builders
• National Association of Convenience Stores
• National Automobile Dealers Association
• National Sporting Goods Association
• American Bankers Association
• National Coffee Association
• National Association of Realtors
• National Beer Wholesalers Association

Market research firms. 

These firms specialize in conducting market research and mostly publish paid reports/ conduct research on demand. But many firms upload insightful market research reports and trend patterns periodically as a lead-generation tactic. 

You can access these free market research reports by visiting their website. Google the names of market research firms and check their download sections for the latest reports on various industries and market segments. Some major market research firms which publish free reports include: 

• Euromonitor International
• McKinsey & Company
• Forrester Research
• Frost & Sullivan  

More sources to get free market research reports. 

Here are some final resources for finding free market research reports:

• Online Database and Platforms: Lots of online platforms and websites offer free reports that can be used for market research. Some of the most credible ones include Statista, Pew Research, ProQuest, etc. You can also use Google Trends to extract trends and insights around any topic. 
• Public Libraries: If you have access to any public library in your town or community, search for market research reports in the business sections. Libraries have active subscriptions to trade publications that regularly publish many market reports. Most libraries can access the Business and Company Resource (BCRC) database with several market research reports. 
• Trade Shows and Conferences: Trade shows, exhibitions, and conferences are a great source of real-time market research reports. Most exhibitors and publishers offer free access to reports, whitepapers, and case studies that can serve as a foundation for your market research initiatives. 

Top up market research reports with real-time insights using GapScout. 

Market research reports are a good starting point for conducting market research. However, use the data within free reports cautiously, as it can be obsolete.

Gapscout can help you vet your market research assumptions and data by scanning online reviews in real-time and offer actual consumer insights. So, why not upgrade your research game by harnessing the power of AI using GapScout ?

• How to use AI for market research?
• 5 examples of market research branding done right

Ready to Automate Your Market Research? Get exclusive access to GapScout prior to release!

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• Content Strategy
• Marketing & Career
• Copywriting & Design

10 examples of great marketing research reports from 2022

Find inspiration for your next marketing survey report. See how industry-leading brands design, develop, + promote proprietary data reports.

By Katherine Boyarsky • Dec 28, 2022

B2B SaaS brands, and any other business that has a vested interest in helping their customers succeed, need the latest benchmark data to do so. And according to Google’s Helpful Content Update guidelines , “people-first content” should be created for a specific intended audience, and include the latest information. 

Today, brands are taking proprietary research, data analysis, and industry trends report creation into their own hands. Why? It gives them the ability to tailor the research to help their audience, and creates a steady flow of traffic, which improves brand awareness.  

Looking for content marketing support for your brand? We can help. Let’s Talk

The even more recent Google Helpful Content Update on the E-A-T content marketing strategy adds an extra “E” for experience, making it the E-E-A-T strategy now. That means that people who have firsthand experience with the topic they’re writing about will be prioritized. This is where I explain that I am the CMO of a creative content marketing agency ( CXD Studio ) that helps create or reports like the annual HubSpot State of Marketing Trends report, among others. Our team has been doing the content strategy, copywriting, data analysis, design, data visualization, and promotion for marketing research reports for almost a decade, and our reports have reached millions of readers. 

Here are the basics on how to produce an industry trends report campaign and inspirational reports from 2022. 

Reminder — creating any sized research report takes significant time, effort, expertise, and resources. Don’t try to take it on yourself, and plan enough time for each phase in the production process. There will be delays — build those into your timelines. 

Who creates marketing industry trends reports? 

Marketing research reports typically fall under the responsibility of the content marketing team within the marketing department. However, they might be owned by demand generation, sales enablement, a research/analytics team, or outsourced to a specialized agency or freelancer. Here’s who typically leads and executes marketing research campaigns:

• Market research companies
• Creative agencies
• Advertising agencies
• Freelancers
• In-house content teams

Types of marketing research reports brands can create

• Industry trends reports
• Benchmark reports
• Brand awareness surveys
• Analyses of product data
• Executive/decision-maker surveys
• User experience reports

10 examples of great industry trends reports from B2B brands from 2022

Use these marketing research report examples to spark your creativity from outline, to promotion, to format.

• HubSpot’s State of Marketing Trends Report
• Owl Labs’ State of Remote Work Report
• ConvertKit’s State of the Creator Economy Report
• DoorDash’s Restaurant Online Ordering Trends Report
• TINT’s State of User-Generated Content 2022 Report
• Spotify’s Culture Next Report
• HubSpot’s Building Winning Regional Marketing Teams Report
• Semrush’s State of Content Marketing Report
• Chicory’s Annual Recipe Usage Report
• Lightcast’s Workers Wanted Worldwide Report

How do you create an industry trends research report? 

Let’s break down the marketing research report process.

Phase 1: Background research, marketing strategy, and survey design

Identify your target audience, the goals of the report, and your survey questions. Try to ask a minimum of 10-20 questions, and don’t ask too many or you’ll fatigue your respondents. If you’ll be pulling product data, map out the questions that you want to answer from the data. 

Phase 2: Survey administration and data collection

Use a platform like Pollfish or Survey Monkey Audience to collect responses from a certain demographic, or collect data from your own audience using a basic survey tool. Alternatively, some companies choose to pull product data to learn about their audience.

Phase 3: Data analysis and key themes

Examine the data using pivot tables or more advanced statistical modeling programs. Look for statistically significant themes and patterns, and analyze them in the context of the past few years. 

Phase 4: Report outline and copywriting

Include key themes as chapters, and plan for calls-to-action (CTAs) throughout where it makes sense to include them. Pull out actionable tips for your audience so they can make the most out of the data. Use your brand’s copywriting guidelines to match the right tone for the audience.

Phase 5: Data visualization and report design

Design the charts, statistics, and data visualizations using your brand identity, and create shareable images for social media. Design the report as a web page or downloadable PDF using brand fonts, colors, imagery, iconography, and overall style.

Phase 6: Promotion and distribution

Plan for a launch blog post with key findings, emails to your audience, social media posts, paid advertising, and individual posts from your team, employees, or influencers. If you work with a PR team or individual freelancer, get them involved early, and have them share the key findings when they’re finalized. Source quotes from experts on the early side, too.

Phase 7: Campaign analysis

Analyze the performance of the campaign after the first week, month, and then a year or two out. Large-scale campaigns like annual or bi-annual reports can have a long tail, so measure influenced contacts, net new contacts, and influenced revenue after a bit of time.

Marketing survey promotion ideas

• Share interesting stats and data points using data visualizations on social media, using both organic posts and paid ads. Try static and animated ads and compare the results.
• Create a compelling landing page with key insights from the report and a preview of what’s inside.
• Incorporate leadership insights from partners or thought leaders with similar audiences, then ask them to promote the report when it comes out.
• Partner with similar brands and pool your resources, then promote to all of your audiences.

Need help creating an industry trends report, from start to finish? Let’s chat.

We’ve got a small but experienced team that handles project management, survey design and data acquisition, data analysis, copywriting, content strategy, data visualization, design, and promotional assets. And we work quickly, as a seamless extension of your team. Let’s talk through your marketing research report creation needs . 

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Search Broker Reports From 1,000+ Sources In Seconds with AlphaSense

Explore the many ways broker research and reports on the AlphaSense platform can power faster, smarter insights and decision-making for your organization.

of the top consultancies

of the top asset management firms

largest pharmaceutical companies

of the S&P 100

Traditionally considered a source of insight for sell-side firms, broker research and reports now provide critical insight for corporate and consulting professionals . In addition, corporate strategy professionals are increasingly turning to broker research to analyze market landscapes and better understand analyst assessments of market and industry trends, as well as performance of competitive peers.

However, manually finding broker reports and extracting the insights they contain requires significant time and effort—think multiple search engine queries and hours of combing through countless documents to identify important information. And even when you locate the right reports, broker research is often stuck behind frustrating paywalls.

The AlphaSense platform transforms the research experience by providing you with access to top broker research and other premium content and data sources , such as Wall Street Insights® , all within a single, centralized platform. 

With AI search technology supporting your research, you’ll also be able to quickly identify insights to uncover new opportunities, stay one step ahead of your market competitors, and deliver exceptional results for your clients.

Wall Street Insights®

AlphaSense provides global reports from 1,000+ research providers (comprised of sell-side analysts, strategists, and research teams) that cover companies, industries, asset classes, and economies. 

Our default proprietary offering Wall Street Insights® features equity research from the world’s leading brokerage firms including, but not limited to:

• Goldman Sachs
• Morgan Stanley
• Credit Suisse

Wall Street Insights® showcases both real-time and after-market research, is sourced from both broker partnerships and vendors, and covers North America, EMEA, APAC, and LATAM regions.

With Wall Street Insights®, you can conduct more comprehensive competitive analysis , improve client interactions, enhance internal research and strategy, and save your organization time and money with AI and automations. 

Broker Reports You Can Access on the AlphaSense Platform

On the AlphaSense platform, users can access several critical types of equity research reports, including:

• Upgrades/downgrades: published when a stock analyst changes their opinion of a stock, and subsequently, their investment recommendation
• Estimate / price target revisions: published when an analyst revises their previous price target (their prediction of the future price of a security)
• Initiation reports: published when a broker first begins covering a company
• Credit research
• All other company reports
• Industry reports – Analyze a set of companies within the same industry
• Fixed income reports – Demonstrate maturity distribution of portfolios
• Economic/macro reports – Shares analysts’ views on growth expectations, inflation, stock market volatility, and global market trade
• Commodities reports – Provide analysis of commodities within a particular industry, published weekly or monthly

Unlock Market Moving Insights Faster with AI & Automation

When you rely on an equity research platform that utilizes the power of AI search technology, you can be more confident in your research, knowing you are no longer at the mercy of human error. AlphaSense also allows you to automate certain research processes that previously would have required hours of manual work, streamlining your entire process so you can take action and make mission-critical decisions faster than ever. 

Here’s how our semantic search and smart automations can transform your workflow:

Smart Search

Smart Search technology doesn’t just recognize the keywords included in your query—it understands the intent behind your search, delivering content sources with the highest relevance and value to your search. It allows you to find all relevant data points with a single search, saving countless hours and increasing precision in your research.

Additionally, broker research is often inconsistently tagged because different firms may use different classification taxonomies, or include their own terms to define industries and trends. In addition to recognizing relevant language patterns, Smart Search assigns correct tagging to reports from thousands of analysts and research firms, regardless of which analyst published the report.

Smart Synonyms , our proprietary element of Smart Search, weeds out the sources that may include similar keywords but are not topically significant to your research, meaning you’ll never have to cut through excess noise to find the insights you need.

Relevance Rankings

AlphaSense automatically ranks results by their relevance to your research using a number of algorithmic factors, including search term proximity, Smart Synonyms, and document decay. You can be confident that the content sources at the top of your search results page are the ones most aligned with your current research needs.

Smart Alerts

Without a centralized search system, analysts are left to perform multiple manual searches and parse through Google Alerts for the ones with real relevance. On the AlphaSense platform, real-time alerts are customizable and can be set up for a particular company, industry, keyword, or topic (or a set/list of any of the above).

Customized alerts and watchlists give analysts real-time notifications about important news and updates while also ensuring they aren’t bogged down with alerts that are not in tune with what they really need (i.e. Google Alerts and other public search engine options).

Generative AI

AlphaSense’s generative AI is purpose-built for business professionals, leaning on 10+ years of AI tech development. Our proprietary genAI tool, Smart Summaries , generates insights across all four key perspectives—company documents, news, expert calls, and broker research. 

Sourced from across all broker research you are entitled to, published within the past 90 days, and covers sections including: 

• Upgrades and downgrades – Covers which brokers have upgraded/downgraded this company within the past 90 days and why 
• SWOT analysis – Covers the topics/trends identified as strengths/opportunities or threats/weaknesses from across broker reports about this company
• Competitive landscape – Covers the competitive landscape for this company from across broker reports

The Missing Perspective

Here at AlphaSense, we talk about market research in terms of the four perspectives . For every market-moving event, what are the perspectives of companies, news outlets, industry experts, and analysts on the topic? 

Historically, the latter has been the most challenging to access because companies needed to have existing relationships with specific brokerage or investment banking firms to get those insights. But with AlphaSense, you get easy access to multiple firms’ equity research, which allows you to take your research and strategic decision-making to the next level. 

Broker research reports have always been used by investors and hedge fund managers to come up with lucrative investment ideas and make smarter investment decisions. Now it is commonplace for cutting-edge corporations to utilize analyst perspectives in order to quickly get smart on market landscapes and understand analysts’ expectations on market trends, industry, and peer performance.

Here are just a few of the ways AlphaSense users rely on broker research to navigate ever-evolving market conditions and stay in the know about important trends:

Forecasting for the Future

In the interconnected world we live in today, economic, socio-political, and natural events that occur continents away can impact the success of your business. You need to know what market experts are saying about what’s happening in the world.

One of the biggest developments from the COVID-19 pandemic was the rise of virtual healthcare, or telemedicine. Using AlphaSense, our users were able to monitor rising mentions of the topic across all four perspectives, but it was specifically broker research that proved to be the most abundant source of information in the platform discussing the future of telemedicine, with analysts unanimously agreeing that healthcare systems will have no choice but to adopt telemedicine into their practices going forward.

Using broker research and our platform, we can forecast the trends and outlooks in the healthcare tech space for the future , based on current trends and analysis in areas like AI, medical robotics, and digital therapeutics

Following the Evolution of a Market Trend

ESG has been a dominant force in the investment world over the past several years. It was a trend that arrived forcefully and showed no signs of slowing down in importance to investors and consumers alike—until it did. 

Using AlphaSense, we were able to track the trajectory of the ESG movement—from its meteoric rise to the forefront of corporate discourse to its suddenly uncertain future as public scrutiny and distrust continue to build . 

Armed with the four perspectives, AlphaSense users were able to follow changing ESG dynamics and clearly understand the trend’s evolution, including shifting public and company sentiment and expectations. Broker research, in particular, was critical for staying ahead of these shifts. It not only informed users on all relevant information early on, but also gave interpretations and expert analyses of this information, allowing them to manage risk, capitalize on new opportunities, and gain a competitive edge. 

Peer Analysis

Peer analysis is critical for organizations to achieve and maintain dominance in their respective fields. This means accurately identifying and interpreting industry trends, opportunities, and threats, so you can respond quickly and effectively. AlphaSense helps you stay informed on your peers with customizable watch lists and alerts that notify you whenever a new investment research piece is published featuring one of the companies in your industry. 

When analyzing competitors, it is also important to understand what growth areas those companies are anticipating. By benchmarking competitors’ R&D investments , you can gain valuable insight into companies’ strategies and use that knowledge for your own strategic decision-making.  

Broker research provides instant access to sales revenue forecasts for specific products, as well as R&D percentage of sales for specific companies, and you can find every relevant equity research piece quickly and easily in AlphaSense.

Groundbreaking Insights from Industry Experts

Monitoring macro trends and conditions is essential for smart investing and apt decision making for any company. The broker research on AlphaSense provides consistent expert insight and direct commentary on economic trends, opportunities, and challenges, so that you can avoid being caught off guard by an unexpected market-shifting event. 

When the popular stationary bike company, Peloton Interactive, first announced its decision to partner with industry giant Amazon, many were blindsided. But those who were relying on the four perspectives available through AlphaSense were able to spot the telling signs and key milestones that led up to this deal . 

In particular, broker research in the AlphaSense platform showed that this decision was not unexpected at all, but rather played into Peloton’s overall strategy to recoup lost capital by spending less on digital advertising and relying instead on Amazon’s massive customer base.

Broker Research (aka Equity or Sell-Side Research) involves reports, models, and estimates on companies, industries, fixed income, currencies and commodities, strategy, and economics.  Broker reports are reports developed by sell-side firms for consumption by investors, fund managers, and corporate professionals to better understand market dynamics and make smarter business and investment decisions.

You can subscribe to have access to a specific broker’s research content, and/or you can often purchase individual reports or documents you want to access. With a platform solution like AlphaSense, however, you can bypass individual subscriptions and paywalls to access research in a single, centralized place.

The “best” brokerage report depends on your specific needs and research goals. Top brokers in the research field include JP Morgan, Credit Suisse, Morgan Stanley, Barclays, and HSBC (among others) — all accessible on the AlphaSense Platform.

Check that the broker is registered with the SEC . You can also use FINRA’s BrokerCheck Database to research broker track records and credentials in-depth.

AlphaSense’s premium research database (including exclusive Wall Street Insights® ) offers comprehensive data combined with in-depth capital market expertise. 

Coupled with advanced AI-powered semantic search capabilities, analysts and researchers are able to access information faster, analyze market sentiment across multiple sources, and pinpoint the exact insights they need to inform decisions.

When you’re on the AlphaSense platform, you can say goodbye to individual subscription expenses, the need for manual, time-consuming research, and a reliance on outdated search methods (like CTRL-F) to find important insights.

AlphaSense provides access to many types of broker reports — industry analyses, flash reports, commodities reports, company analyses and more — from top names in the research field, including: 

• Morningstar
• Deutsche Bank

Try AlphaSense for Free

The AlphaSense platform offers access to premium content that powers confident research—you’ll have the tools, resources, and support you need to execute a full-scale strategy to drive results.

If you’re ready to level up your research for smarter investing, start by exploring all that AlphaSense has to offer.

5 Critical Content Sources for Conducting Market Research

Alternative Data

What’s The Best Way To Consume Broker Research?

Equity Research Reports: What’s In Them & How to Access

Private Equity Trends and Outlook for 2024

E-Commerce Research

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• Facility Management
• Fire Detection and Suppression
• Industrial Automation Software
• Industrial Control Systems
• Machine Vision
• Thermal Imaging
• Commercial and Industrial Pumps
• Commercial and Industrial Valves
• Motors and Drives
• Industrial Maintenance
• Industrial Safety
• Lab Automation
• Conveyors and Sortations
• Industrial Robotics
• Sensors and Actuators
• Mobile Payments
• Real Time Payments
• PoS Terminals
• Audio Systems
• Digital Signage
• Transistors
• Passive Electronics
• Lasers and Laser Parts
• Analytical Instrumentation
• Electronic Test and Measurement
• Environmental Test and Measurement
• Cloud Security
• Identity & Access Management
• Network Security
• Threat Management
• Healthcare Information Technology
• Computer Hardware
• Networking Equipment
• Peripherals
• Cloud & Colocation Data Center
• Data Center Cooling
• Data Center Power
• Business Consulting Services
• Business Process Services
• Managed Services
• Analytics and Business Intelligence
• Content Management Software
• CRM Software
• Data Management Software
• Development and Testing Software
• Enterprise Collaboration Software
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85 E-Commerce Reports

Study Period: 2019 - 2029

Regions Covered: North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Major Players: Amazon.com Inc., Alibaba Group Holding Limited, Airbnb, Inc., Walmart Inc., JD.com Inc.

Country Covered: Kuwait

Major Players: 6th Street, Namshi General Trading L.L.C, H & M Hennes & Mauritz AB, Ubuy Inc, Sprii DMCC

Country Covered: Moldova

Major Players: Makler Ltd., 999.md, Ali Express, Ebay , Amazon

Country Covered: Serbia

Major Players: Next Retail Ltd., Gigatron, Glovo, Ikea Systems BV, BC Group

Major Players: Shopify Inc, BigCommerce, Salsita Software, SAP SE, OroCommerce

Countries Covered: United States, Canada

Major Players: Alibaba.com, ASOS Marketplace Limited, Amazon.com, Inc., KOMPASS, eworldtrade.com

Countries Covered: China, Japan, India, South Korea

Major Players: Alibaba Group Holding Ltd, Amazon.com, Inc., Flipkart Online Services Pvt. Ltd., B2W Companhia Digital, IndiaMart InterMesh Ltd

Country Covered: Poland

Major Players: Media Expert, Zoo Plus AG, Zalando SE, X-Kom Sp. Z.o.o., Empik S.A.

Country Covered: Slovakia

Major Players: Alza.sk, MALL.SK, Itesco.sk, H&M, Nay.sk

Country Covered: Czech Republic

Major Players: Alza.cz, Notino, SRO, Mall.cz, Aukro SRO, Rohlik.cz

Countries Covered: Saudi Arabia, South Africa

Major Players: Amazon.com Inc., Alibaba Group Holding Limited, Shopify Inc., Costco Wholesale Corporation, Best Buy Co. Inc.

Countries Covered: China, India, Japan, South Korea

Major Players: Amazon.com Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Apple Inc., JD.com, Inc.

Country Covered: Ireland

Major Players: Amazon.co.uk, Argos Distributors (Ireland) Limited, Tesco Ireland, Currys Ireland Limited, Littlewood Ireland

Country Covered: Egypt

Major Players: Amazon, Btech, Elaraby Group, Manzzeli, Carrefour Egypt

Major Players: Amazon.com, Inc., ChinaAseanTrade.com, DIYTrade.com, eBay Inc., eworldtrade.com

Country Covered: United Kingdom

Major Players: Amazon.com, Inc., Ebay UK, Asos, Currys PC World, Gumtree

Countries Covered: United Kingdom, Germany, France, Spain, Italy

Major Players: Amazon.com, Inc., eBay Inc., Allegro , AliExpress, Zalando SE

Country Covered: Cyprus

Major Players: Amazon, Bazaraki, Ebay, Walmart, Asos

Country Covered: Germany

Major Players: Amazon.de, eBay.de, eBay Kleinanzeigen, Otto GmbH, Idealo Internet GmbH

Country Covered: Romania

Major Players: Amazon.com, Inc., Fashion Days Shopping SRL., Altex Romania SRL, Zara USA, Inc, emag.ro (Dante International S.A )

Country Covered: India

Major Players: Amazon.com, Inc., Flipkart Private Limited, eBay, Inc. , Alibaba Group Holding Limited, FSN E-Commerce Ventures Limited (Nykaa)

Country Covered: Bahrain

Major Players: Amazon.com, Inc., H & M Hennes & Mauritz AB , AliExpress, Talabat, Namshi General Trading L.L.C

Country Covered: Saudi Arabia

Major Players: Amazon.com, Inc, Haraj, Noon AD Holdings Ltd, Namshi General Trading L.L.C, Aliexpress

Country Covered: Portugal

Major Players: Amazon, Inditex Group (Zara Portugal), Apple, Worten, Zalando

Country Covered: Qatar

Major Players: Carrefour, Amazon.com, Inc., Lulu Hypermarket, AlAnees Qatar, AliExpress.com

Country Covered: Iceland

Major Players: Amazon.com, Inc., Inter IKEA Systems B.V, Elko ehf, eBay Inc., ASOS.com, Ltd.

Country Covered: Spain

Major Players: Amazon Spain, El Corte Ingles, PC Componentes, Carrefour Spain

Country Covered: Lithuania

Major Players: Amazon.com Inc, Pigu.lt, Apple Inc, Shopify, BigCommerce

Country Covered: Mexico

Major Players: Amazon, Walmart, Coppel, Costco, MercadoLibre, Inc.

Major Players: Amazon.com Inc., Walmart Inc., Shein, Coppel, Costco Wholsale

• North America E-Commerce Research
• Canada E-Commerce Research
• India E-Commerce Research
• US E-Commerce Research

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The Best Time to Sell in 2024: The Week of April 14-20

Home sellers who are hoping to sell this year and looking for the perfect time to list should start getting ready—because the best time to list a home in 2024 is approaching quickly. 

The week of April 14–20 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other w eek in the year. A recent survey from Realtor.com ® found that the majority (53%) of home sellers took one month or less to get their home ready to list, so the time to start prepping is now. 

This selection comes from looking at seasonal trends from 2018–19 and 2021–23 data and calculating a Best Time to List score for each week of the year, based on a combination of housing metrics. Notably, mortgage rates are not included in the score as mortgage rate movement has more to do with the larger economic context, and not seasonal shifts.

The State of the Housing Market

We expect the 2024 housing market to behave according to typical seasonality, but offer slightly better conditions than 2023. Each week was scored based on favorability toward sellers—this included competition from other sellers (active listings and new listings), listing prices, market pace (days on the market), likelihood of price reductions, and homebuyer demand (views per property on Realtor.com). Percentile levels for each week were calculated along each metric and were then averaged together across metrics to determine a Best Time to List score. Rankings for each week were based on these Best Time to List scores.

2023 was a fairly glum year in housing, with prices remaining near record high levels while inventory levels suffered. Mortgage rates started the year in the mid-6% range and climbed to nearly 8% in October , continuing to weigh down the affordability of housing payments despite unremarkable price growth.

Home prices peaked at a median listing price of $445,000 nationally in June 2023 , falling short of the previous year’s all-time high. Though prices did not reach a new peak this year, they remained near year-ago levels, failing to offer much relief to buyers. Buyer demand remained stifled as home shoppers took a step back amid high prices, elevated mortgage rates, and low inventory. 

Though low housing demand set the tone for much of 2023, homes still spent significantly less time on the market than before the COVID-19 pandemic, and inventory remained well below pre-pandemic norms.

Many homeowners felt “locked in” by their current mortgage , hesitant to list their home for sale and trade a sub-4% mortgage for a 7%-plus mortgage, which kept new listing activity low for much of the year.

Builders slowed new construction activity slightly in 2023 amid low buyer demand and economic uncertainty . Both single- and multi-family housing starts fell relative to the previous few years, but both remained above pre-pandemic levels as builders aimed to fill some of the gap left by low existing-home inventory. Though starts waned, new-home completions climbed relative to the previous year, supplying much sought-after inventory for buyers and renters alike.

 Mortgage rates fell quickly toward the end of the year as the Fed signaled that rate cuts were likely for 2024 , and as a result, both buyer and seller activity ticked up slightly heading into the new year.

In February, new listing activity climbed 11.3% , resulting in 14.8% more for-sale inventory in the month than one year prior. Though selling activity has picked up, inventory remains nearly 40% below pre-pandemic levels, making it a good time to be a seller today . While some homebuyers are waiting for mortgage rates to fall further before entering the housing market, it’s still a good time for homeowners to sell as buyers continue to need more for-sale options.

Benefits of listing a home the week of April 14–20, 2024

At a national level, this week represents a balanced selection of market conditions that favor sellers. While it does not have the highest price or the lowest time on the market of the year, this week offers higher-than-average prices and lower-than-average time on the market while also offering a higher-than-average number of buyers—measured as viewers per listing.

While affordability will continue to be a challenge for buyers and sellers who are looking to buy, we expect lower mortgage rates and more new-construction inventory to offer some relief and inject some life back into the market. In more balanced housing market conditions, we expect the benefits of strategically listing during the most seasonally advantageous week to be greater.

Above-average prices:  Homes during this week have historically reached prices 1.1% higher than the average week throughout the year, and are typically 10.4% higher than the start of the year. This year is likely to look a lot like 2023 due to still-high housing costs. If 2024 follows the 2023 seasonal trend, the national median listing price could reach $7,400 above the average week, and $34,000 more than the start of the year. 

Above-average buyer demand: The number of buyers looking at a listing can determine how many offers a home gets and how quickly it sells. The more buyers looking at a home, the better for the seller, and in most years, buyers start earlier than sellers.

Historically, this week garnered 18.4% more views per listing than the typical week. However, in 2023, this week got 22.8% more views per listing than the average week throughout the year. If mortgage rates fall more significantly this spring, it is possible that demand will surge sooner. However, if mortgage rates don’t soften until later in the year, then buyers may hold off in hopes of lower rates.

According to the February Fannie Mae housing survey , a near-all-time survey-high 35% of respondents indicated that they expect mortgage rates to go down in the next 12 months. After climbing through February, mortgage rates eased in the latest data. Mortgage rate expectations could lead more buyers to hold off until mortgage rates fall further, which may mean a slower ramp-up in demand this spring.

Fast market pace: Thanks to above-average demand, homes sell more quickly during this week.

Historically, homes actively for sale during this week sold 17%, or roughly 9 days, faster than the average week. In the 2023 market, this week saw homes typically on the market for 46 days, 6 days faster than the year’s average and 7 days faster than was typical in 2019. The 2023 market moved more slowly than the previous few years due to affordability challenges, but the market pace picked up toward the end of the year and into 2024 as easing mortgage rates stoked buyer demand. If inventory levels remain relatively low, time on the market may pick up faster as buyers vie for fewer homes.

Lower competition from other sellers: A typical inventory trend would mean 13.7% fewer sellers on the market during this week compared with the average week throughout the year. With few exceptions, the number of sellers tends to increase from the beginning of the year until roughly November. Last year saw more significant inventory gains after the first four months as buyer demand cooled, but sellers responded by pulling back on listings once again by the end of the year. Active inventory was 7.9% higher at the start of 2024 versus 2023 with the highest beginning-of-year inventory since 2020 . However, inventory was still 39.7% lower than pre-pandemic levels. This gap means there continue to be opportunities for sellers who enter the market this spring.

Below-average price reductions: Price reductions tend to peak in the fall as sellers left on the market after the summer rush try to attract attention. Price reductions tend to be the lowest from late winter into spring as buyer activity ramps up.

During the Best Week, roughly 24.6% fewer homes have had a price reduction than the average week of the year, which translates to a 0.9 percentage point lower price-reduced share compared with the average week of the year. In 2023, this week saw roughly 8,000 fewer listings with price reductions than the average week of the year.

Market dynamics shift—baby steps toward affordability

The 2023 housing market continued the slowdown seen in the second half of 2022. Home sales fell to the lowest level in over a decade as buyers struggled with still-high home prices and elevated mortgage rates. Sellers largely kept to the sidelines, hesitant to trade their existing mortgage for one with a much higher interest rate.

Though buyer demand waned, low for-sale inventory meant that buyers had fewer choices and faced competition in many markets, especially more affordable locales . As mortgage rates improved at the very end of the year, buyer demand picked up, indicating that home shoppers are eagerly awaiting a more affordable housing market.

Based on a recent survey , 40% of prospective buyers would find a home purchase feasible if rates were below 6%, and 32% would feel the same if rates fell below 5%.

• Mortgage rates are expected to ease into the mid-6% range. Mortgage rates reached as high as 7.79% in 2023 before falling into the mid-to-high 6% range by the end of the year. We expect mortgage rates to remain in this range until incoming economic data suggests that inflation is slowing toward the 2% target level. To date, both employment and inflation have remained strong, which means that the Federal Open Market Committee is likely to hold off on any cuts to the federal funds rate until later in the year. Once rate cuts seem probable, mortgage rates are likely to ease.
• Prices tend to peak later, as does competition. Sellers should consider that peak prices later in the season also come with greater competition from other sellers for a similar-sized pool of buyers. Historically, by the end of June, while prices reached near-peak levels (+13.8%) compared with the start of the year, new sellers also surged, increasing to nearly 1.5 times higher than at the start of the year (+49.3%). More sellers mean more options for buyers and therefore more competition among sellers . Sellers can mitigate that risk by being an early entrant into the market, raising their already high odds of a successful close and likely negotiating favorable terms.
• Level of buyer and seller activity will be fairly dependent on mortgage rates. Many homeowners are hesitant to enter today’s housing market since their current mortgage rate is much lower than today’s prevailing rate. However, buyers are likely to return to the housing market eagerly upon mortgage rate improvements, which means sellers still stand to see favorable buyer attention on their home listing due to low inventory. While overall buyer demand may not be what it was in the past couple of years, many areas are still seeing competition for homes due to low inventory levels. 

What does this mean for sellers?

While we’ve identified april 14–20 as the best week to list for sellers, the housing market remains undersupplied, so a seller listing a well-priced, move-in ready home is likely to find success., because spring is generally the high season for real estate activity and buyers are more plentiful earlier rather than later in the year, listing earlier in the spring raises a seller’s odds of a successful sale. sellers will want to remember that it’s a process and get started well before their intended listing date. recent realtor.com survey data shows that sellers typically took between a couple of weeks to a couple of months to prepare and list their home for sale., what does this mean for homebuyers.

For buyers who have been facing still-high home prices and elevated mortgage rates, there is a key takeaway: The usual seasonal dynamics of the housing market, builder sentiment, and general economic shifts suggest that it’s going to get better.

Inventory improved in late 2023, though levels remain below pre-pandemic levels. So far in 2024, new single-family construction activity and homebuilder sentiment have remained steady, and home completions have remained strong, suggesting that new inventory is likely to provide buyers more options into the spring.

Historically, the number of views per listing has cooled in the late summer/early fall and tends to improve for buyers from that point forward. Additionally, by mid-August, the number of sellers with actively listed homes increased 29% over the beginning of the year, which means more options for buyers . Thus, buyers who can persist in their home searches are likely to catch a bit of a break in the sense that they can expect some more options to choose from in the weeks ahead. 

Best Time to List—50 Largest Metro Areas

Methodology.

Listing metrics (e.g., list prices) from 2018–19 and 2021–23 were measured on a weekly basis, with each week compared against a benchmark from the first full week of the year. Due to the onset of the COVID-19 pandemic, 2020 was an uncharacteristic year and has therefore been excluded from the analysis. Averaging across the years yielded the “typical” seasonal trend for each metric. Percentile levels for each week were calculated along each metric (prices, listings, days on the market, etc.) and then averaged together across metrics to determine a Best Time to List score for each week. Rankings for each week were based on these Best Time to List scores.

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