UX research for an existing product focuses on two main objectives:

• To retain existing customers: Understand where your users get stuck and switch to another brand. This will tell you what you can do differently to meet users' needs and outdo the competition.
• To grow the customer base: Conduct usability testing to uncover how users interact with the product and identify areas for improvement. Use these insights to optimize features. Additionally, run experiments to test innovative changes or new features that could increase the product's value.