The demand for data analytics has resulted in a deluge of market analysis software, leaving any shopper scratching their heads, unsure of what to choose.
That’s why we’ve created this guide for marketers and data analysts who want to explore the best available options.
What are market analysis software and what do they do?
Market analytics tools aim to streamline your data collection so you can get faster insights and make better decisions.
A marketer’s tech stack can encompass as many as a hundred tools, such as:
- Keyword research tools
- Social media management platforms
- SEM tools
- Lead collection platforms
- Content management systems
The list goes on.
Imagine all that information spread over several channels–it’s a handful, to say the least.
Though these tools are meant to boost efficiency and automate processes, the sheer volume makes managing them a huge drain of time. Analyzing the data collected by marketing technology can feel like a full-time job.
Market analysis platforms consolidate information across channels in one place so marketers can grasp the effects of their strategy faster and know what to adjust and what is or isn’t working.
In other words, market analysis tools aggregate data and transform cold numbers into concrete information that’s useful for your business or agency.
However, not all market analysis software are made alike. You need to consider your team’s needs, integrations you want, user-friendliness of the platform, security, and scalability, just to name a few.
Let’s dig deeper into the tools on the list and see if they’re the right pick for you.
Panoramata
We’re starting strong with Panoramata, an all-in-one competitor tracking and market analysis platform. Panoramata is ideal for marketing agencies and brands who want to keep tabs on their competitor’s marketing campaigns across multiple channels and get powerful takeaways from competitor stats.
It’s not just a competitor tracking tool; it also yields actionable insights marketers can use to create data-backed winning campaigns.
All the data and statistics it collects on a brand’s email marketing, advertising, SEO, SMS, and growth strategies are updated live and you’ll also get the emails, ads, and assets that are responsible for the brand’s scores.
The platform makes comparing performance metrics easier because of its user-friendly interface. And if you need to present your findings to your client or team, you can generate reports from the data collected on your competitors automatically.
Key features
- Dashboard updated in real time
- Email campaign and email automation tracking
- Ad and landing page monitoring
- Website change monitoring
- SMS tracking
- Content calendar tracking
- Instant updates on competitor activity
- Industry and personalized benchmarks
- Option for specific brand tracking requests
- Searchable ad, SMS, and email database (over 5 million creatives)
- Automated summaries and insights from AI
Analyzing the data collected by marketing technology can feel like a full-time job. Market analysis platforms consolidate information across channels in one place so marketers can grasp the effects of their strategy faster and know what to adjust and what is or isn’t working.
Who it’s for
Panoramata is ideal for marketing teams, creative teams, agencies, and consultants who want to sharpen their marketing strategy through competitive analysis and benchmarking.
It’s also great for those looking for marketing inspiration as it has a large database of ads, emails, SMS, email automations, and landing pages.
Pricing
- Startup: €84 monthly
- Professional: €149 monthly
- Advanced: €399 monthly
Salesforce Marketing Cloud Intelligence
Salesforce Marketing Cloud aims to centralize all performance data and automate reporting so you can easily identify points for improvement and orchestrate your business from one platform.
It is touted as one of the most comprehensive marketing tools in the market because it can manage multiple channels from SMS to email and push notifications.
Salesforce Marketing Cloud also plays well with other tools, thanks to its API connectors and AppExchange. You can even set up automations or map out customer journeys based on customer data and behaviors.
Key features
- AI insights (“AI Einstein”) to help with decision-making
- AppExchange apps, widgets, and connectors
- Create on-brand dashboards
- Export data into Tableau or migrate it to Snowflake, PostgreSQL, and Google BigQuery
- Email marketing software with drag-and-drop editor
Who it’s for
Salesforce Marketing Cloud is ideal for small and medium-sized enterprises, businesses that already use Salesforce, and large sales teams.
Pricing
Marketing Cloud Engagement: from €1,250/month
Marketing Cloud Account Engagement: €1,250/month
Hubspot
Hubspot excels in email marketing campaign analytics so if this channel is your primary focus, this software is worth a shot.
Personalization and segmentation are seamless through Hubspot so you can reach your audience at the optimal time with the most appealing creatives.
You can track key email metrics like clickthrough and open rates to get a feel for your campaign’s progress. But that’s just the surface of Hubspot’s capabilities.
Key features
- Real-time data on email marketing campaigns
- CRM
- Campaign reporting
- Website traffic analytics
- AI content writing
- Live chat
Who it’s for
Hubspot is ideal for businesses focusing on inbound marketing, small to medium-sized businesses, and B2B companies wanting multi-functional market analysis software.
Pricing
Marketing Hub Starter: Starts at US$15/mo/seat
Starter Customer Platform: Starts at US$15/mo/seat
Marketing Hub Professional: Starts at US$800/mo (includes 3 seats)
Marketing Hub Enterprise: Starts at US$3,600/mo (includes 5 seats)
Semrush
Semrush specializes in competitive intelligence, which means it can reveal your competitor’s strategies, pinpoint market opportunities, and help you refine your marketing approach. These features will guide you in making informed marketing decisions.
Semrush tracks competitor data like traffic metrics, top keywords, backlink profiles and paid ad strategies.
Its Market Explorer function gives you a bird’s eye view of your industry and allows you to identify your main competitors. It also uncovers market share, audience size, and growth metrics so you can see how you stack up against competitors.
Key features
- Domain Overview
- Market Explorer
- Traffic Analytics
- Competitor Paid Ads Tool
- Keyword Gap
Who it’s for
Semrush is best suited for large brands with prominent competitors and situated in large industries. Because of its capabilities, it’s also a good fit for content marketers and SEO specialists.
Pricing
Pro: $139.95/month
Guru: $249.95/month
Business: $499.95/month
Google Analytics
Google Analytics tracks website traffic, mobile app traffic, and events. It is the most used web analytics software on the internet (GA4 is used by 13.5 million websites, as of August 2023).
This software can track information like:
- Session duration
- Engagement rate of visitors
- Pages per session
- Location
Then, you can create reports out of the data you’ve collected by Google Analytics and finetune your marketing strategy.
With the launch of Google Analytics 4 (GA4), the platform’s capabilities now include integration with Google’s BigQuery, AI-powered predictive analytics, and user journey analysis.
Key features
- Real-time reporting on website traffic, user activity, and behavior.
- Audience insights: user demographics, interests, geolocation, and device types.
- Track traffic sources, including organic search, paid campaigns, social media, and referrals
- User behavior analysis
- Conversion tracking
- Custom dashboards and reports: Create tailored views and reports to focus on specific metrics.
- Predictive analytics and automated insights
- Cross-device tracking
Who it’s for
Google Analytics is ideal for businesses of all sizes, especially small and medium businesses, e-commerce stores, content marketers, digital marketing agencies, and enterprise teams (who are best suited for Google Analytics 360, the premium version of Google Analytics).
Pricing
Google Analytics: Free
Google Analytics 360 (premium): Starts at $50,000 per year
Frequently Asked Questions
1. What is market analysis software, and why is it important?
Market analysis software helps businesses gather data on competitors, customers, and industry trends to make informed decisions. It’s essential for identifying opportunities, benchmarking performance, and improving marketing strategies.
2. How do I choose the best market analysis tool for my business?
Start by identifying your goals, such as tracking competitors, analyzing customer behavior, or improving ad campaigns. Then, compare tools based on features, pricing, and integrations that align with your needs.
3. Can I use multiple market analysis tools together?
Yes, combining tools like Panoramata for competitor tracking and benchmarking and Google Analytics for traffic analysis can provide a more comprehensive view. Just ensure the tools you choose integrate well and don’t duplicate data unnecessarily.
