Comparing Survey Market Research Tools: Qualtrics vs Euromonitor

Comparison between Qualtrics and Euromonitor

Both Qualtrics and Euromonitor are well-known companies that provide market research and data analysis services. While both companies have a similar goal of helping businesses make informed decisions, they have distinct differences in their approach and offerings. In this article, we will compare Qualtrics and Euromonitor in terms of their history, services, pricing, and customer reviews.

History

Qualtrics was founded in 2002 by brothers Ryan and Jared Smith in Provo, Utah. The company began as a survey software provider but has since expanded to offer various market research solutions. Qualtrics gained recognition in 2012 when it raised $70 million in venture capital funding, making it one of the largest-ever investments for a software company. In 2018, Qualtrics was acquired by SAP for $8 billion, solidifying its position as a leader in the market research industry.

Euromonitor, on the other hand, has a longer history, with its roots tracing back to 1972. The company was founded in the UK and began as a publisher of market intelligence reports. As the business grew, Euromonitor expanded its operations to various countries, including the US, China, and Singapore. Today, Euromonitor offers a wide range of research services, including market analysis, industry reports, and consumer trends.

Services

Qualtrics and Euromonitor have different approaches to market research, with Qualtrics focusing on providing software solutions and Euromonitor offering traditional consulting services. Qualtrics offers a variety of products, including online surveys, customer experience management, and brand tracking. Their platform allows businesses to design, distribute, and analyze surveys to gather feedback from customers, clients, and employees. Qualtrics also offers advanced data visualization tools and features to help businesses make data-driven decisions.

Euromonitor, on the other hand, provides tailored market research services for companies looking to gain a deeper understanding of their industry and target demographics. Their services include customized research projects, market sizing and forecasting, consumer trends analysis, and competitive intelligence. Euromonitor also offers access to their extensive database of industry reports and market data.

Pricing

When it comes to pricing, both Qualtrics and Euromonitor have a similar approach of providing customized quotes for their services. Qualtrics offers three pricing plans – Basic, Plus, and Enterprise – with varying levels of features and support. Their prices are not publicly listed but are based on the size and needs of the business.

Euromonitor does not have set pricing plans but offers customized quotes based on the scope and complexity of the project. Their services are typically more expensive than Qualtrics', as they involve a team of experts conducting in-depth research and analysis.

Customer Reviews

Qualtrics has a strong reputation for customer satisfaction, with many reviews highlighting the ease of use and robust features of their platform. Their customer support team also receives praise for their prompt and helpful responses. Qualtrics has a 4.5 out of 5-star rating on Trustpilot, with over 1,500 reviews.

Euromonitor has a slightly lower rating on Trustpilot, with a 3.9 out of 5-star rating based on over 120 reviews. While many customers are satisfied with Euromonitor's services, there are some complaints about the high cost and slow response times. However, Euromonitor's long-standing reputation and vast experience in the market research industry still make them a trusted and reliable choice for many businesses.

Conclusion

In conclusion, Qualtrics and Euromonitor are both reputable companies that offer market research services to help businesses make informed decisions. Qualtrics excels in providing easy-to-use survey solutions and data analytics tools, while Euromonitor offers more traditional consulting services tailored to the client's specific needs. Depending on the nature of the business and the scope of the project, both companies have their strengths and can provide valuable insights to help companies succeed in their respective industries.