7 Top AI Market Research Tools in 2024

Market analysis is the spine of all advertising and marketing, and we are able to’t skip it.

In any case, how are you going to promote any services and products should you haven’t dug deep into your market, viewers, and competitors?

However, market analysis eats up a ton of time. So many entrepreneurs take it without any consideration and accept superficial analysis.

To keep away from this, make use of AI market analysis instruments. Which?

I examined seven AI market evaluation instruments and broke down which of them are price making an attempt.

Let’s soar in.

Desk of Contents

What are AI market analysis instruments?

These instruments additionally assist with viewers segmentation, monitoring rivals, and creating detailed studies, making it easier for marketers to make sensible, data-driven selections.

Machine studying and pure language processing (NLP) allow these instruments to imitate human habits.

My curiosity in AI and its impression on markets led me to discover notable success tales from huge names who’ve harnessed AI in marketing. One such instance is Spotify.

It carried out AI for analysis final 12 months by means of its AI DJ feature.

The device consistently collects suggestions and analyzes your listening patterns, primarily conducting ongoing “market analysis” to fine-tune music decisions and feed Spotify’s analysts with knowledge on which songs so as to add to extend listening time, carry extra subscriptions, and so forth.

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The AI DJ goes past fundamental suggestions and offers commentary on the songs and artists it performs, making the expertise extra partaking.

Why use AI instruments for market analysis?

Many individuals nonetheless assume that AI can’t perceive human nuances like an actual researcher can, however that’s simply one of many misconceptions, says Ashley S., Ph.D. in Anthropology and Co-Founding father of EmpathixAI.

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The reality is that AI has made enormous strides in greedy these subtleties and may present insights which might be simply as helpful, if no more so, than conventional strategies.

Can I analysis the market with out AI? Certain. How laborious is it on a scale of 1 to 10? 11.

That’s why giving these instruments an opportunity is greater than a good suggestion. Listed below are the highest three explanation why you need to give it some thought:

Predictive Evaluation

AI algorithms can monitor buyer habits and predict tendencies, giving entrepreneurs an opportunity to fine-tune their methods.

For instance, a broadcast firm was dropping market share to digital media, which was anticipated to dominate 50% of the market in five years.

The CFO wished to enhance content material to win again viewers and enhance advert income. Scios Market, an AI market analysis device, helped analyze which present attributes, like content material high quality and forged, drove viewership and advert {dollars}.

Predictive evaluation and what-if forecasting recognized a present idea prone to obtain the very best scores. This method led to a brand new present with 42% greater scores and allowed the corporate to double its advert charges.

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Personalization and Focusing on

AI can section audiences and personalize advertising and marketing methods based mostly on detailed buyer knowledge. This results in extra correct concentrating on, higher engagement, and better ROI.

The perfect instance is a Center Jap financial institution that noticed a $3.4 million increase in cardholder spending inside three months by utilizing Personalization Breeze from Dynamic Yield and Mastercard.

AI-driven customized presents led to a 60% enhance in journey transactions, a 30% improve in premium card sign-ups, and a 15% rise in on a regular basis spending.

This instance exhibits how sensible AI personalization can rapidly drive vital progress and enhance buyer engagement.

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And, in accordance with an Acxiom report, 47% of customers favor customized emails or adverts as a result of it helps them simply discover related merchandise and options.

Use HubSpot AI Email Writer to rapidly generate and customise gross sales outreach emails and advertising and marketing campaigns. No extra looking at a clean display screen — let AI deal with the heavy lifting and watch your e-mail engagement improve.

Improved Effectivity

AI market analysis instruments, like generative AI fashions, have significantly impacted productivity and effectivity in nearly every kind of duties.

As an illustration, final 12 months’s study by Shakked Noy and Whitney Zhang from MIT examined the consequences of ChatGPT on professionals’ doc writing effectivity.

The examine concerned 444 enterprise professionals throughout totally different fields who had been tasked with writing two enterprise paperwork. One group used ChatGPT to help in analysis writing, whereas the opposite wrote with out AI assist.

Key Findings:

1. Elevated Productiveness. Professionals who used the AI completed their paperwork in about 17 minutes, whereas those that did not use AI took 27 minutes. This implies a 59% improve in productiveness. Basically, professionals with ChatGPT might produce 59% extra paperwork in an 8-hour workday in comparison with these working with out it.

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2. Higher High quality. Regardless of taking much less time, AI-assisted paperwork had been rated greater in high quality. Paperwork created with ChatGPT had a mean high quality rating of 4.5 out of seven, whereas these written with out AI scored 3.8. This exhibits that AI not solely saved time but in addition improved the standard of the work.

“AI is a device that will help you work quicker, not a substitute for important pondering and problem-solving,” says Alex Cattoni from How To Use A.I. For FAST Market Research. “AI instruments like ChatGPT aren’t at all times related to the web by default, which suggests they will produce inaccurate and even dangerous outcomes.

This is named an AI hallucination. Even tech researchers fear that folks rely too closely on these programs for essential recommendation. Use it as a brainstorming device as a substitute.”

P.S. Should you’re questioning which AI tool writes the best marketing copy, Erica Santiago has examined a number of totally different instruments and shared her detailed opinions. I wholeheartedly advocate studying this text.

7 Finest AI Market Analysis Instruments

1. Gong for name insights and gross sales analysis.

Gong.io makes a speciality of income intelligence and dialog analytics. It analyzes gross sales calls, conferences (each audio and video format), and buyer interactions to supply insights into gross sales processes, buyer behaviors, and market tendencies.

Options

• Analyzes gross sales conversations to establish tendencies, profitable techniques, and areas for enchancment.
• Offers visibility into the gross sales pipeline by monitoring deal progress and figuring out potential points.
• Affords insights and suggestions for gross sales teaching based mostly on actual dialog knowledge.
• Helps perceive how rivals are being mentioned in gross sales conversations and what methods work.

Pricing: Gong costs every license per consumer. Attain out to them to choose a custom-made quote.

Finest for: Gong is equally nice for researchers and entrepreneurs who often maintain buyer calls or viewers interviews.

What I like: Gong offers each contextual and referential insights. Contextual insights analyze real-time dialog particulars like tone and sentiment, whereas referential insights examine these interactions to previous knowledge, figuring out patterns and greatest practices to enhance gross sales outcomes.

Strive HubSpot’s Free AI Chatbot Builder to e book conferences and supply round the clock buyer assist. Let it deal with widespread queries, set off e-mail campaigns, and scale your interactions, releasing up your workforce’s time.

Testing It Out

I used Gong to research considered one of our firm’s gross sales calls, and the insights had been extremely good.

As an illustration, its talk-to-listen ratio actually confirmed that the gross sales rep spent an excessive amount of time speaking and never sufficient listening, which Gong flagged as a possible problem based mostly on profitable previous conversations.

Elements of the decision had been color-coded, indicating totally different matters, feelings, or ranges of engagement. It was tremendous simple to trace key moments and see when essential points had been mentioned or when the shopper’s curiosity dropped.

I haven’t run into many points with Gong, however the speech-to-text function generally is a bit hit-or-miss generally. It normally will get the job carried out, however some components require refinement. Even so, it’s nonetheless one of many prime instruments on the market for this goal.

2. YouScan for social media evaluation.

YouScan makes use of AI to observe social media and pictures, serving to you monitor model mentions, perceive buyer emotions, and spot tendencies. It offers real-time insights into how folks view your model.

As an illustration, YouScan exhibits whether or not persons are usually optimistic, detrimental, or impartial about your model based mostly on their feedback or publish reactions.

Options

• Tracks mentions of your model, merchandise, or related matters throughout totally different SM platforms.
• Analyzes sentiment and tendencies to gauge public opinion.
• Identifies and analyzes visible content material associated to your model or business.
• Helps monitor brand utilization, model mentions in photos, and user-generated content material.
• Makes use of AI to evaluate the emotional tone of posts and conversations.
• Detects rising tendencies and patterns in client habits.
• Screens rivals’ social media presence and efficiency.
• Generates detailed studies and visualizations.

Pricing

• Starter 3 ($299 per thirty days): 3 matters, limitless customers, and 30,000 month-to-month mentions.
• Limitless Plans: Configured to your necessities.

Finest for: Firms energetic on social media that need to monitor their model’s presence and impression throughout platforms.

What I like: It doesn’t depend on hashtags and captions solely, however it identifies subjects and text in images as nicely.

Right here’s a easy breakdown of the way it works:

1. The AI identifies and tags visible components in photos, akin to logos, objects, and scenes.

2. It extracts related data from these photos, like how your model’s brand is used or what merchandise are featured.

3. The device then analyzes this knowledge to supply insights, akin to how your model is perceived or which merchandise are the preferred.

4. You need to use filters to slender down the outcomes and think about detailed studies.

Testing It Out

I believe each marketer, particularly social media managers, will fall in love with this device.

The analytics are in-depth and provides a transparent image of point out volumes, engagement, and sentiment tendencies.

For instance, in case your posts obtain a number of joyful or optimistic feedback, YouScan will usually replicate a optimistic sentiment. On the flip aspect, if the posts present detrimental reactions or dissatisfaction, the sentiment shall be detrimental as nicely.

The Insights Copilot, powered by ChatGPT, is my favourite half. It makes knowledge evaluation a lot simpler by producing fast summaries and actionable insights.

For instance, you’ll be able to ask what clients like about your product, and it offers you a fast abstract based mostly on social media mentions.

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I additionally loved the flexibility to make customized dashboards in 1,000 other ways.

3. Consensus for fast and dependable scientific insights.

Consensus is an AI market evaluation device that digs into scientific research to present you clear, actionable insights.

However as a substitute of simply supplying you with a listing of educational papers like conventional search engines like google, Consensus scans these papers and summarizes the important thing findings.

It makes use of superior NLP and machine studying to know the content material and current essentially the most related data in a easy, easy-to-read format.

Options

• Offers direct solutions to particular questions by analyzing scientific papers.
• Highlights the scientific consensus and proof supporting the findings.
• Summarizes key factors from a number of papers, saving customers time in reviewing literature.
• Affords hyperlinks to unique papers, permitting customers to confirm data and discover additional.

Pricing

• Free: Limitless AI filters, searches, and analysis indicators. Restricted Copilot, GPT-4 summaries, and Consensus Meter.
• Premium ($11.99/month): Full entry to Consensus Meter, bookmarks, GPT-4 summaries, and Copilot.
• Groups ($12.99 per seat/month): Central billing, reductions for 200+ seats, account administration.
• Enterprise (customized quote): Library integration, devoted assist, large-scale consumer administration.

Finest for: Teachers, entrepreneurs, and anybody searching for dependable scientific data. It could actually assist entrepreneurs reveal what components affect buying selections, how totally different demographics reply to varied advertising and marketing methods, and what tendencies are rising available in the market.

What I like: The Collaboration Hub function is nice for working in real-time along with your workforce members.

Testing It Out

I typed in one thing about mindfulness and sleep, and inside seconds, I had a concise abstract of the related analysis.

It pulled collectively key factors from a number of papers into one clear overview.

Then there’s the Copilot function, which provides even deeper insights utilizing GPT-style summaries, full with clickable citations for straightforward entry to the sources.

The Consensus Meter is a good function, too. I requested a sure/no query, and it broke down the analysis findings with percentages — giving me a fast snapshot of the place the science stands.

The power to avoid wasting searches, export citations, and combine with instruments like Zotero makes it vital for critical analysis.

And who can profit from such analysis?

Concretely, all these findings can enhance market analysis for sleep-related merchandise.

For instance, analysis exhibits that mindfulness improves sleep, which might result in the event of dietary supplements or apps that assist with leisure. Knowledge on sleep patterns can even assist create higher sleep trackers or extra comfy mattresses.

Furthermore, entrepreneurs can use this data to create focused adverts and content material. Understanding sleep patterns can assist in designing promotional campaigns for sleep-related merchandise.

You see? Every little thing is related. 🙂

4. Lexalytics for superior textual content analytics and sentiment evaluation.

Lexalytics is a textual content evaluation device that helps companies perceive giant quantities of written knowledge. It could actually decide if persons are feeling optimistic or detrimental, establish key names and locations, and decide what important matters are being mentioned.

As an example an organization is getting ready to launch a brand new smartwatch.

Lexalytics scans social media and critiques to see if persons are enthusiastic about smartwatches. Then, the device tracks real-time discussions to establish what persons are speaking about most.

Is it battery life or design? The reply helps the corporate spotlight these tendencies of their product launch.

By figuring out key names (e.g., business influencers, rivals) and locations (e.g., tech hubs, main cities) talked about within the knowledge, the corporate can tailor their advertising and marketing campaigns to focus on particular audiences or areas.

For instance, if some fashionable tech influencer is buzzing round in conversations, the corporate might attain out to them and supply an unique overview or endorsement, turning that buzz into model hype.

Options

• Identifies and categorizes feelings in textual content, akin to optimistic, detrimental, or impartial.
• Detects essential names, locations, organizations, and merchandise talked about within the textual content.
• Permits customers to tailor textual content evaluation fashions and options to suit particular industries or wants.
• Offers fast insights by analyzing textual content knowledge as it’s obtained.
• Types and categorizes textual content into predefined classes for simpler evaluation.
• Handles textual content in a number of languages, making it appropriate for world functions.
• Affords detailed visualizations and studies.

Pricing: Request a demo to get extra information about pricing.

Finest for: Advertising and marketing groups, product managers, buyer assist, knowledge analysts, and researchers who want to research and perceive sentiment tendencies in suggestions and knowledge.

What I like: The device successfully handles nuances like negations and intensifiers, which makes outcomes extra correct.

Testing It Out

I made a decision to concentrate on sentiment evaluation to see how the device handles this side.

First, I created a chart widget within the dashboard and chosen the sentiment polarity choice.

For my take a look at, I zeroed in on the highest 10 matters, which gave me vary of knowledge to research. I began by viewing the whole variety of paperwork to know how sentiment was distributed — optimistic, detrimental, and impartial — throughout these matters.

Subsequent, I adjusted the widget to point out the odds of paperwork moderately than uncooked counts.

This alteration supplied a clearer image of what fraction of the paperwork had been optimistic, detrimental, or impartial for every matter. It was fascinating to check these percentages and see how sentiment different by matter.

5. Crayon for monitoring and analyzing competitor exercise.

Crayon lets you monitor what your rivals are cooking. It offers aggressive intelligence and market analysis insights by means of AI-driven analytics.

Crayon repeatedly tracks competitor actions throughout varied channels — web sites, social media, and information sources.

With this inside scoop, you’ll be able to see all their strikes and make savvy, well-informed selections.

Options

• Tracks rivals’ actions in actual time to maintain you knowledgeable about their newest strikes and methods.
• Analyzes rivals’ advertising and marketing techniques and enterprise selections.
• Benchmarks your efficiency in opposition to rivals to spotlight areas for enchancment.
• Detects rising market tendencies and informs you about them.
• Offers detailed business studies to present you a transparent image of market circumstances and alternatives.
• Processes giant volumes of knowledge effectively.
• Forecasts future market tendencies based mostly on present and historic knowledge.
• Sends customized alerts to maintain you up to date on essential occasions.
• Visualizes advanced knowledge with clear charts and graphs.

Pricing: Pricing is dependent upon your wants and workforce measurement. Attain out for a demo to get your quote.

Finest for: People and groups who need to monitor a number of rivals, handle detailed battle playing cards, and manage insights throughout varied matters.

What I like: Compete Hub, which acts as a newsfeed for my newest bulletins and helps me keep on prime of business developments.

Testing It Out

Beforehand, I struggled with the tedious process of sifting by means of Google Alerts, which took time away from extra essential duties.

Crayon AI modified that by offering actually good insights with only a click on. The platform’s machine studying algorithm prioritizes important updates, akin to vital adjustments to rivals’ homepages over minor social media posts.

I significantly love the each day e-mail summaries, which ship a curated listing of a very powerful insights proper to my inbox, saving me from countless alert checking.

Strive HubSpot AI Summarization to simply generate enterprise studies, summarize buyer interactions, and enhance productiveness with AI-driven insights.

6. Poll The People for crowdsourced decision-making powered by AI.

Ballot The Folks helps you have got a world dialog along with your target market. The platform presents extra than simply polls — it additionally incorporates public opinions and deeper surveys.

With Ballot The Folks, companies can discover the collective ideas of a big group and make knowledgeable selections based mostly on widespread suggestions — curated and analyzed with Open AI to forestall biases and human-prone errors.

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Options

• Creates fast and simple polls to collect suggestions quick.
• Generates real-time outcomes that will help you make swift selections.
• Targets particular demographics to get related suggestions.
• Affords each private and non-private ballot choices for varied wants.
• Offers numerous query codecs, together with multiple-choice and textual content enter.
• Customizes polls with branding and particular questions.
• Delivers prompt evaluation for fast insights.
• Exports ballot ends in varied codecs for detailed evaluation.
• Ensures nameless responses for sincere suggestions.

Pricing

• Lite (Free): 20+ templates, 250 responses per examine, 3 assessments per thirty days, and extra.
• Plus ($50/month): Every little thing in Lite, 500 responses per examine, 7-day free trial, and 10 assessments per thirty days.
• Premium ($100/month): Every little thing in Plus, assist, 2,000 responses per examine, and limitless assessments.
• Enterprise (from $10,000/month): Every little thing in Premium, plus professional session, limitless responses, and extra assist.

Finest for: Entrepreneurs, product builders, UX/UI designers, enterprise house owners, and researchers who want fast, focused suggestions to make knowledgeable selections.

What I like: It’s not only a text-based device. Add photos and get suggestions on particular designs or logos.

Testing It Out

I used it to get suggestions on potential titles for my e book. I arrange a fast ballot asking for opinions on which title resonated greatest with readers.

Inside a brief interval, I obtained 100 responses that supplied helpful insights into what my viewers likes.

The method was extremely simple.

I created the ballot with two-choice choices and focused the responses to verify they got here from my meant viewers.

Notice: I don’t advocate the free model since you pay per response; for instance, one response prices $1, so 100 responses would price $100. It’s more cost effective to go for a month-to-month plan should you want a bigger variety of responses.

7. ChatSpot for smarter analysis and knowledge evaluation.

ChatSpot by HubSpot is an AI-powered assistant that simplifies market analysis. It combines the capabilities of ChatGPT to present you highly effective insights and customized responses.

You possibly can rapidly spot tendencies, monitor buyer wants, and get helpful knowledge utilizing pre-made templates and real-time data. It integrates along with your HubSpot CRM, letting you join along with your knowledge.

Scouting gross sales leads or digging into firm particulars like funding rounds and tech stacks? ChatSpot makes analysis simple and will get essentially the most out of it.

Options

• Leverages knowledge to trace and interpret market tendencies.
• Makes use of immediate templates and distinctive knowledge sources for smarter insights.
• Drafts weblog posts, writes X posts, and creates AI-generated photos.
• Identifies key alternatives rapidly with prospecting templates.
• Integrates with HubSpot CRM to work together along with your knowledge in actual time.
• Offers deep insights into firm particulars like funding rounds and applied sciences.
• Affords intuitive solutions designed that will help you take motion.
• Lets you handle contacts, duties, and notes utilizing pure language instructions.

Pricing: ChatSpot is free to make use of and routinely connects to your HubSpot account.

Finest for: Entrepreneurs, gross sales groups, customer support reps, enterprise analysts, content material creators, small business owners, and project managers who need actionable insights and improved effectivity.

What I like: The accuracy of the info it offers. I additionally love ChatSpot’s Picture Generator, which creates a wide range of gorgeous visuals.

Professional tip: Interview AI as if it had been your supreme consumer. Present it with demographic particulars and ask it to reply with motivations and struggles utilizing the language of your target market.

With just some clicks, you’ll be able to generate blogs, social posts, and emails. HubSpot Content Writer is ideal for saving time, overcoming author’s block, and scaling your content material with out further prices.

Testing It Out

First, I examined ChatSpot’s main chat function by asking it a query about present ecommerce tendencies:

As you’ll be able to see, it supplied a short however clear response, with bolded phrases that spotlight key ecommerce tendencies.

Then, I requested about what influences shoppers when selecting between Google Drive and Dropbox for cloud storage:

ChatSpot delivered a crisp reply in a short paragraph, highlighting the important thing factors with daring textual content once more.

However ChatSpot presents greater than only a question-answer function, and that’s what I really like most about it — rapidly prospecting for gross sales with useful templates, drafting weblog posts and social media updates, and producing AI photos. It additionally allows you to dig into firm knowledge like funding and tech used.

Plus, you’ll be able to handle your HubSpot CRM duties — like including contacts and creating notes — utilizing pure language instructions, making every thing extra intuitive and environment friendly.

From Spending Days on Evaluation to Getting Leads to Seconds