The list below of 21 marketing research sites and resources (courtesy of bplans.com) that can help you as you move forward, and you can find 13 more favorite market research resources here:
If your business is operating within or expanding to the United States, these are the top sites you should use for your research.
- U.S. Census: This is a great starting point for data about the U.S. population. You can drill into the data and find out nearly anything you want to know about different locations and demographics.
- Census Business Builder: Beyond population data, you can look at how much people in your industry spend.
- Bureau of Labor Statistics: A fantastic site for information on specific industries, like hiring and expense trends as well as industry sizes. If your target market is other businesses, this is a good place to look for data.
- Consumer Expenditure Survey: If you want to know what people spend their money on, this is your go-to source.
- CensusViewer: While it’s not a U.S. government resource, this free tool leverages US Census data and other data sources to give you access to data in an easy-to-use format that you can explore both visually on a map or in data reports for cities, counties, and entire states.
- Economic Indicators: Offers free economic, demographic, and financial information.
- Pew Research Center: A nonpartisan fact tank that was founded with the mission of informing the public about the issues, attitudes, and trends shaping the world. They conduct public opinion polling, demographic research, content analysis, and other data-driven social science research.
Industry summaries
If you’re looking for information about specific industries, these are some of the best options to look into.
- SBDCNet Business Snapshots: You’ll find a great collection of industry profiles that describe how industries are growing and changing, who their customers are, and what typical startup costs are. You should also check out their list of market research resources, sorted by industry.
- Hoovers Industry Research: While not a free resource, the industry summary data provided here can be helpful if you need in-depth industry reports.
- IBISWorld: Regularly updated industry reports, that provide insight regarding the current status, market outlook, and competitive landscape of a given industry. It is a subscription service, but you can download free reports to test it out.
Business location market research tools
Interested in learning more about the demographics and customer base in a given geographic location? Check out these resources.
- ZoomProspector: This tool can help you find the ideal location for your business, or find new locations similar to where you already are for expansion and growth.
- MyBestSegments: This tool from Nielsen is a great resource for finding out what demographic and psychographic groups live in a given zip code or where the highest concentration of a given segment lives. While the most detailed data is not free, you can get a lot of great insights from the free version.
- SizeUp: This is a useful mapping tool to help determine where your target customers are. It’s very useful to help you determine the ideal location for your business.
Survey tools
If you plan on conducting primary research, here are some of the surveying tools you should look into.
- SurveyMonkey: Should you need to poll a group for business purposes, SurveyMonkey is free and reliable. Simply build the survey and send it out to your audience.
- Google Consumer Surveys: You don’t need to have a contact list to send out a survey on this site. With Google Surveys, you can target users from around the web and get instant feedback on your business idea.
- TypeForm: Whether you need a simple form or a survey, TypeForm does it beautifully. It’s especially good on mobile.
- Qualaroo: If you run a website and want to get quick feedback from the people that are already showing up there, Qualaroo is a great tool for this purpose.
Trade and industry associations
Many industries are blessed with an active trade association that serves as a vital source of industry-specific information. Such associations regularly publish directories for their members, and the better ones publish statistical information that tracks industry sales, profits, ratios, economic trends, and other valuable data.
- Wikipedia’s list of U.S. trade groups: This is a fairly comprehensive list to kickstart your research.
- Directory of Associations: Another long list of associations. You should be able to find an association for your industry here.
Market trends
- Google Trends: Use Google Trends to discover what people are searching on and how search volume on important topics is changing over time.
- Statista: If you’re looking for statistics and trends, Statista is a great place to get started. You’ll find data on virtually everything here.
Leverage market research to inform your business decisions
Doing market research is a powerful way to reduce the risk for your small business or startup. The more you know about your customers and your industry, the less likely you are to waste money on marketing and advertising campaigns that don’t reach the right people.
You probably already have a gut feeling about who your customers are and what their needs and pain points are. But taking the time to validate (or invalidate) your assumptions can make a big difference to your company’s bottom line and long-term viability.