Build An Online Research Software - Business Ideas

Updated: September 15th, 2022
Build An Online Research Software

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

As the business world grows more complex, the need for reliable and effective online research software becomes more important. Online research software can help businesses save time and money by providing access to a wealth of information.

This type of software is used for a variety of purposes, such as academic research, market research, or competitive intelligence.

For example, Trello is powerful online research software that can help you organize and keep track of your research projects. With Trello, you can create custom boards to track your progress on specific projects, set deadlines, and collaborate with other researchers. Trello's estimated annual revenue is currently $15.8M per year.

Online research software is a great tool for businesses looking to better understand their customer base. The data collected by this process can be rich and informative, as it includes insights that help you grow your business in ways other methods may not address as accurately or completely.

Building an online research software requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell online researching services, or selling online researching services online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$1.5T
starting costs
$5.89K
gross margin
65%
time to build
210 days

Startup Costs

Min Startup Costs Max Startup Costs

Office Space Expenses

$0

$7,000

Training & Education Expenses

$0

$1,000

Software Expenses

$0

$594

Advertising & Marketing Costs

$0

$2,750

Website Costs

$13

$215

Specific Industry Expenses

$0

$100

Total Startup Costs

$13

$11,659

Successful Businesses

Business URL Rank

ResearchGate

researchgate.net

161

Taylor & Francis Online

tandfonline.com

510

Statista

statista.com

1,166

Better Business Bureaus

bbb.org

1,937

U.S. Bureau of Labor Statistics

bls.gov

4,790

SparkToro

sparktoro.com

22,180

Questia

questia.com

28,006

HeinOnline

heinonline.org

35,518

BusinessWorld

bworldonline.com

82,001

The Business Research Company

thebusinessresearchcompany.com

92,689

Insights Association

insightsassociation.org

301,986

Pros & Cons

Pros Description

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Little startup costs required

The cost to start a online research software costs significantly less money than most businesses, ranging anywhere from 12 to 11,659.

Rewarding work

Starting a online research software can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Traffic to your website

A online research software gives people a reason to visit your website and to keep coming back to you!

Cons Description

Crowded Space

Competition is high when it comes to your online research software, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Constant maintenance of publication

You may find yourself constantly needing to update your online research software in order to stay relevant for your audience and for those searching on google.

Lack of benefits

With a online research software, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Isolation

Often times, as a online research software, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a online research software, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

No safety net

Typically, as a online research software, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.

Marketing Ideas

  • 1

    Affiliate Program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

    Learn more about affiliate program ➜

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

    Learn more about direct sales ➜

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

    Learn more about word of mouth ➜

Pat Walls,  Founder of Starter Story
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