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Is your business hitting a wall? Can't see a way out? Try using research to find a solution.

Research

Every business owner has faced that 'hitting a wall' moment: Sales have been flat for months, existing customers are starting to disappear, or your core product is no longer in demand as it once was. That is a warning sign that your business is heading toward a "dead end." But instead of giving up, this is a golden opportunity to reset and grow again.

The only tool that will help you "see through the wall" and find a sustainable way out is in-depth Research.



1. Research is a compass, not a magic cure.


Research

Many people overlook Research when their business is doing well. However, when a business hits a dead end, the value of research multiplies manifold.

It helps ensure your decisions are not based on emotion or feeling, but are instead based on proven data.


1.1. Asking the Right Question: The Foundation of Research

Before you start collecting any data, you need to know: "What is the actual problem?" Asking clear questions, such as "Why aren't customers making repeat purchases?" or "How are competitors taking away market share?", will help narrow the scope of your research and ensure you get actionable answers.


2. Diving Deep into the Source of the Problem: Surveying the Target Audience

Research

A deep survey of your target audience is an essential first step when a business hits a dead end, because the main problem often stems from a lack of genuine customer understanding.


2.1. Listening to the Hidden Voice (Voice of Customer)

Don't assume you know your customers well enough yet; try actually going and "talking" to them.

  • In-depth Interview: Schedule conversations with both your best customers and those who have stopped buying from you. These two groups will provide vastly different insights. This kind of research will help you see the Pain Points that were never written down on a standard questionnaire.

  • Analyzing Online Channel Behavior: Observe how customers are talking about your brand on Social Media, and what keywords they are using to search for problems related to your products. These activities allow you to survey your target audience in a timely manner.


2.2. Tracking Shifting Needs

Customer needs are constantly changing. If your product has become outdated, it means you stopped surveying your target audience a long time ago. Try looking for "what customers are doing right now" to solve their existing problems, and see if you can insert yourself as a better solution.


3. Scanning the Battlefield: Surveying the Market to Find a Way to Survive

Research

Once you understand your customers, it is time to turn your attention to your competitors and the industry overview. Market surveying (or Market research) opens up new perspectives for your business.


3.1. Benchmarking Successful Competitors

Look at "what successful competitors are doing differently" than you. Don't just look at their products, but research deep into their business model, communication methods, pricing structure, and sales channels.


3.2. Searching for the Blue Ocean

A dead end might be caused by fierce competition in a Red Ocean market. Try surveying the market in adjacent industries or looking at customer segments that have previously been overlooked. Systematic research may help you find a "new market" with no competitors at all.


If you are a new business owner looking to build a strong foundation from the start to prevent dead ends in the future, having a clear roadmap is essential. Try studying [Revealing the 3-Month Business Plan That New Business Owners Must Clearly Lay Out] to ensure your start is strong and well-directed.


4. Converting Data into Strategy: Consciously Analyzing the Information

Research

The information obtained from the research must be systematically analyzed to yield a clear plan of action.


4.1. Connecting the Dots

Data analysis is about finding the relationship between what you learned from surveying the target audience (why customers are dissatisfied) and what you learned from surveying the market (what competitors are doing better). When you connect these pieces of information, you will see the clear "cause" rather than just the "symptom."


4.2. Utilizing Data Analysis Tools

Don't be intimidated by complex data analysis tools. Start with simple resources like Google Analytics to see where your customers are spending time on your website, or use accounting software to analyze which products are actually profitable and which ones should be cut.


4.3. Making Decisive Choices

Once the data analysis clearly points out what needs to change, you must have the courage to act upon the research findings. Don't let attachment to old products or previous strategies become an obstacle to adaptation.


5. Taking Action: Continuous Testing and Development

Research

The solution for a business that has hit a dead end is not a one-time marketing plan, but rather continuous testing and iteration based on research principles.


  • Creating an MVP (Minimum Viable Product): If you discover a new idea from your research, don't invest all your money into developing a completely new product. Try building a small sample product (MVP) to test the market and gather feedback from the actual target audience survey.


  • Strict Measurement: Every strategy adjustment must have a clear measurement (of results). Use data analysis to see if the new approach actually solves the problem. If it doesn't work, go back to research and readjust.



💡 Frequently Asked Questions (FAQ) When a Business Hits a Dead End


Q: How to fix falling sales?

A: Immediately conduct research to see if the "trend has changed" or if "competitors have something new." If the product itself is still good, focus on surveying the target audience to see which channels they are currently using.


Q: Can I do research with a small budget?

A: Research doesn't require a lot of money! Simply call or talk to 10 frequent customers and then use the real data (Feedback) to analyze the information; you will be able to find a solution.


Q: Should we lower our prices just because a competitor did?

A: Not necessarily! Survey the market to see what customers want besides the price. Focus on other strengths, such as better service or more accessible content, and create added value instead.


Summary: Research is an Investment for Sustainable Survival

A dead end is not the end, but a signal for you to pause and conduct new research. Thorough surveying of the target audience, market surveying, and data analysis is the only light that will lead your business out of the tunnel of uncertainty. Invest in research today for sustainable growth tomorrow.


If you require a professional team to conduct your research,

Mahatsajan is ready to take care of your brand with a professional team covering comprehensive research or analysis of market changes to meet your business objectives and grow in alignment with the Thai market. You can contact us at


📞 Call us at: 0924841995

📱 Contact via Line: https://lin.ee/ZO3cxn6

📱 Line ID: @Mahasajan

📧 Email: hello@mahasajan.com

 
 
 

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