Get To Know the Top 10 Consumer Research Companies

In the planning of a new campaign or product launch that includes consumer research, you must select credible and reliable companies. After all, who knows what’s going on in people’s minds better than themselves? 

You can find consumer research companies all over the internet. These companies can help you conduct qualitative and quantitative consumer research. The results will give you the insight you’re looking for into your target market.

You can obtain all the necessary data from a consumer research company to make informed decisions and enhance your business. Are you interested in finding the best consumer research companies for your next product or ideas? I’ve put together a list of the best global consumer research companies for you.

What is consumer research?

Research is an important part of understanding your customers and their needs. You can then create products and services that are honed in on the specific wants and needs of the consumers. 

Consumer research is important to the companies that offer products and services. Without the research, the company does not know what consumers are looking for in their products or services.

Companies collect data through interviews, surveys, focus groups, and using a variety of screening techniques. It is essential to empower stakeholders by enhancing relationships, creating new business opportunities. Furthermore, it increases shareholder value and ensures sustainable business operations.

Here are the top 10 consumer research companies.

1. Nielsen

Nielsen is one of the largest providers of independent information and insights into what consumers watch and buy. Also, behind all this information is a passion to improve the lives of consumers. 

Services include analytics, marketing, and media information. It also includes expertise from retailers and manufacturers about consumer buying behavior – what they read, watch and hear. 

The company serves primarily CPG, advertising, and media clients. This information serves as the foundation for customized solutions that will provide you with the insight you need to make strategic decisions.

Pros

  • Strong brand recognition
  • Reliable data
  • Global presence
  • Data accessible to everyone in the company
  • Regular updates on digital channels
  • Customer research methodology

Cons

  • A time lag of data collection
  • Varying degrees of accuracy and interpretation
  • Expensive to commission
  • Cannot guarantee a certain number of responses

2. Ipsos

Ipsos is among the top global consumer research companies, a leader in advertising and market research. The company’s unique portfolio of customized solutions provides executives with a wealth of information that can be used for strategic planning. 

The company provides a wide range of services. In addition to market research services, the company offers subscription-based consumer research and custom projects. They also run a range of consumer data points across several industries.

Pros

  • Conclusions with action-oriented recommendations
  • Prioritize speed
  • Leading global market research company
  • Expertise across a broad spectrum
  • Utilization of subscription data as well as custom research

Cons

  • No cost data is available
  • Not suitable for small, one-time projects

3. YouGov

YouGov is one of the world’s biggest and best-known internet-based consumer research companies. The company is a credible online omnibus with a growing reputation for delivering superior data quality and timeliness. 

Customers can rely on YouGov to handle large and complex studies. More so, YouGov offers a broad range of robust research tools and techniques. In fact, many major advertisers have used the data provided and have gained insight into TV, newspapers, radio, outdoor, and digital media.

Pros

  • Loyal following
  • Award-winning company
  • Uses digital marketing techniques
  • Great research from a global market leader
  • Helpful for focus groups
  • Makes audiences more personal

Cons

  • No real-time data
  • A few survey topics are biased
  • Restrictive questions
  • Poor research design
  • The methodology is not transparent enough

4. Stitch Marketing Research

If you are looking for an affordable consumer research company, Stitch Marketing Research will find an expert to fit your needs. 

They have extensive industry experience across a variety of industries. For example, healthcare, consumer products, education, real estate, and financial services. 

The company has services such as analysis of your companies’ existing data, survey design, focus groups, and interviews. Furthermore, they will work with you to create new sources of information. 

Pros

  • Attention to detail
  • A team with experience and professionalism
  • Budget-friendly

Cons

  • Footprint is minimal
  • A limited number of resources
  • Outsourced services

5. Kantar

Kantar is a consumer research and consulting leader working to unlock the potential of customer-led growth for the world’s leading companies. Also, Kantar has helped over 500 fortune companies make good advertising and packaging decisions.

The company provides services both during and after the sales and marketing process. Its expert qualitative research skills and advanced artificial intelligence capabilities make it easy.  

Pros

  • Helps in making data-driven decisions
  • Responses from their surveys are detailed
  • Experts in every field
  • Well known and respected brand
  • Focuses on global markets

Cons

  • Prices are quite high
  • Gets booked quickly
  • Quite a lot of leg work
  • Does not give the same service to all clients

6. Gartner

Gartner provides the technology-related insight necessary for successful implementation and delivery of the business agenda. In addition to best practices, Gartner delivers strategies, predictions, and research to help its customers identify and manage key trends. 

In addition to its industry analysis, Gartner is also regarded as a leading analyst firm. Especially when it comes to providing predictions related to the IT industry and supply chain management industry.

Gartner provides the best consumer research service for large companies. This is not just because it is the most recognized and valued, but because it also adds value to the research.

Pros

  • Leadership position within the IT industry and among CIOs across all industries
  • Reaches a global audience
  • The services offered to go beyond consumer research
  • A proprietary tool for analyzing data

Cons

  • Most of its business is centered on IT platforms. Only recent acquisitions have enabled it to enter additional markets
  • Most people cannot afford the costs
  • Clients include brands they evaluate and rate, which may result in conflicts of interest

7. Touchstone Research

Touchstone Research is a leading consumer research company. For accurate demographic data, Touchstone uses several digital tools and resources. 

When it comes to children and youth research, they are unique due to their focus on survey privacy. Additionally, since digital research does not require a physical presence, they have a worldwide reach. 

As the marketplace continues to evolve and adapt, your business needs to too. Touchstone is here to help you thrive in this ever-changing market. It also provides fresh insights into what consumers are thinking and the actions they intend to take.

Pros

  • Data obtained from digital sources
  • The latest tools, speedy results
  • Orientation toward the next generation
  • Global perspective

Cons

  • Concentration on a limited number of industries
  • Some services are outsourced
  • Not suitable for brands with a strong inclination toward older consumers

8. Proactive Worldwide

The company’s signature is designed for the innovative Proactive Consumer research study. It creates and delivers superior insights in brand image, brand perception, consumer insight, and competitive advantage.

The core business at Proactive Worldwide is competitive analysis. Thus, it is dedicated to helping companies identify their competitors and take action against competitors.

The prices for Proactive Worldwide’s market research products are not specifically listed. This is because each project is custom-designed and executed.

Pros

  • A wide range of industries
  • Tools for proprietary research
  • Expert team of Ph.D.-level analysts
  • Team resources are all internal

Cons

  • There is no cost information available
  • Analysis of competitive and market dynamics
  • Limited geographical coverage

9. SurveyMonkey

SurveyMonkey provides the most powerful, yet easiest-to-use online survey tool. Companies can quickly create and publish surveys, capture responses and then analyze results. 

It is the most popular way to gather feedback from people, and constituents for more than 3 million users worldwide. The users include businesses, educational organizations, nonprofits, and government agencies. 

If you want a better understanding of your company culture or are trying to find new ways to stay relevant in your customers’ lives, SurveyMonkey can help.

Pros

  • They pay regular
  • Offer many diverse market research projects
  • Pay for the hours it actually took you to do the research
  • Easy to sign-up, can get started right away

Cons

  • No guarantee of project approval
  • The payout may be low compared to other consumer research companies
  • Pricing structure

10. GfK

The GfK (Growth from knowledge) is one of the oldest market research organizations in the world. It was founded in Nuremberg, Germany in 1934. GfK is a market research company that surveys consumers and analyzes their purchasing habits. 

GfK measures retail sales data for consumer technology products in addition to conducting consumer response tests. A large number of devices and interfaces have been provided for user experience (UX) research and design by Gfk.

Pros

  • Global reach
  • Focus on a more mature audience
  • Suitable for companies and industries in all stages
  • Excellent research quality

Cons

  • Gives no access to raw data for third-party analysis
  • Does not guarantee a response from customers on surveys
  • GFK is an expensive research agency to use

Consumer research vs market research

Consumer research and market research are two phrases that are often used interchangeably. But they are different terms that focus on slightly different things.

An important part of market research is consumer research, which investigates the buying behavior and inclinations of targeted consumers. Consumer research is conducted to understand and satisfy “consumers”. 

Market research is done to understand the customers. It also helps to answer questions of people who would benefit by selling to them. 

Consumer research may help an organization build a better mousetrap, but only market research can help that mousetrap get found. In short, consumer research wants to know, “What are you looking for?” while market researchers want to know, “What are we offering?.

What does both consumer opinion and behavior mean to these companies?

Companies can identify consumer preferences and products that might be successful based on information from research companies.

These data also help identify market weaknesses that will inform product positioning and strategic marketing plans. Consumer behavior data reveals how consumers are buying and where they are purchasing products and services.

Furthermore, companies use both the opinion and behavior of the consumers to decide what products will be focused on for marketing campaigns. 

SEE: Is taking surveys for money safe?

FAQs

What are the two types of consumer research?

There are two types of consumer research: Qualitative and Quantitative.

In qualitative research, descriptions and symbols are the focus. You usually need to interview consumers or observe them in a marketing setting to learn how they consume products and services. 

The method of collecting data used in this study is in-depth interviews and focus groups. Other methods include bulletin boards, uninterrupted viewing, observing, and ethnographic participation.

Quantitative research strives to quantify a problem, which is often associated with a measure of market behavior and involves statistical analysis. It collects data via audits and points of purchase (purchase transactions). Additionally, surveys are in various formats (online, by telephone, and via click-streaming).

Why is consumer research important? 

Consumer research provides information organizations need to discern consumer preferences, behaviors, and needs. Besides, conducting research ensures that businesses stay current with consumer trends and developments. It also considers factors that may affect the success or failure of their product or service in the marketplace. 

The importance is as follows:

  • It is helpful to understand the common consumer needs
  • It provides important insights into consumers desires
  • Research helps you determine the best strategies to implement your product or brand
  • It helps businesses predict what consumers will buy
  • It allows businesses to stay ahead in the market
  • Research shows you the easiest and most effective way to reach your ideal customers

Who are the prime customers of these companies? 

Top consumer research companies serve a large number of customers. This is because they provide services to a broad range of businesses that handle consumer products. A wide range of businesses operates in this domain. 

Consumer research firms serve companies with research projects in the areas of marketing, sales, and management.

How much does consumer research cost?

It is very difficult to predict the cost of a project because the scope and methodology vary so much. For in-house research, there isn’t much money involved, just time. Nonetheless, a professional survey usually starts at around $1,000.

How much time does consumer research take?

Consumer research can take anywhere from a few hours to days. Most times, it depends on the size of the company and how much data you need. Furthermore, online surveying tools make it possible to conduct surveys quickly and cost-effectively. 

The process of qualitative research, however, generally takes less time to conduct than quantitative research. 

Final thoughts

A small business owner or an entrepreneur usually starts with the question, “How can I find out what consumers want?”. Trying to find your ideal customer? Are you wondering how to find out what consumers want? Any business needs to understand its consumer. 

Therefore, if you want to make sure that your products or services will meet their demands, the best way is to know who they are. The solution to this problem is to hire professional consumer research companies.

I hope you enjoyed reading this article. If you like to take surveys online and get paid for them, these companies are looking for you. Check out the article on the best paid survey sites to discover those that will pay you. 

Also, some of these survey sites seem a bit challenging to use, since you have to figure out how to qualify for them. This led me to write an article on how to qualify for more paid surveys. This will be a great asset to you.

In addition, you will find survey sites that pay you in different forms, from bitcoins to iTunes gift cards on the blog. Surveystor is a blog that provides wonderful resources to get paid online via surveys, GPT, PTC, and cashback sites. 

Thank you for reading.