Market Analysis Tools and Techniques Every Marketer Should Know
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Market Analysis Tools and Techniques Every Marketer Should Know

Market Analysis Tools and Techniques Every Marketer Should Know

Grow your marketing effectiveness with these easy-to-use analysis tools.

Find out where your marketing efforts and your business stand with these popular marketing analysis tools.

The best marketers are creative, focused, adaptable, and driven. But one thing that often gets overlooked by even some of the best creative teams is data. You need data to know that is being received positively, what is driving conversions and sales, and what is building your brand positively in the market place. There are several market analysis tools that help marketers gather this kind of data get a sense of what is working and where they might need to focus more energy.

Here are some marketing research tools available to help you mix more data into your creative efforts and help you do your best marketing work.

Hootsuite

Hootsuite is a social media management tool with a whole host of features. One interesting facet of their software is social monitoring and social listening, allowing businesses to get a pulse on the conversation happening both around their product and in their industry. Hootsuite says, “Social media monitoring and listening are key components for success in any social media strategy…Monitoring is about keeping track of the conversation that’s already happening around your brand, while listening is about finding opportunities to join relevant conversations that may not be specifically about your brand or products.”

Social media analytics tools that offer this feature can be a real benefit for companies in gaining an understanding of their market and the success of their marketing.

Sprout Social

Sprout Social is another social media management tool. They offer integrated platform management so you can track all your social campaigns in one place. They also offer analytics and performance tracking for each channel, so businesses can easily see their reach and engagement statistics. These kinds of analytics are helpful when trying to understand channel performance and knowing which channels are a good git for which pieces of marketing.

Quick Sprout

Sometimes understanding what your competitors are doing helps you get a better understanding of your own product or marketing. Quick Sprout has a good competitor analysis tool that allows you to examine the basics of your website versus a similar site. You can see things like estimated SEO score, social share links, and more.

Google Analytics

Google Analytics is a one of the classic market analysis techniques. It can help businesses grow a deep understanding of their web traffic. It can offer users the ability to see user maps of steps and engagements on the site, understand where traffic is coming from, get an idea of where geographically users are visiting the site from, how many visits convert vs. drop off the site, what search terms bring users to the site, plus custom reports and other valuable information. It’s an excellent tool for target market research and other data gathering.

Using tools to help track and understand data can give you the best possible understanding of your marketing. Don’t get stuck wondering if your marketing has been effective, if it’s reaching clients, or engaging with customers – use market analysis tools to get the clear insight you need.

Marianne Chrisos
Marianne Chrisos
Born in Salem, Massachusetts, growing up outside of Chicago, Illinois, and currently living near Dallas, Texas, Marianne is a content writer as a company near Dallas and contributing writer around the internet. She earned her master's degree in Writing and Publishing from DePaul University in Chicago and has worked in publishing, advertising, digital marketing, and content strategy.

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