Bitcoin Price Drops, Crypto Ecosystem to Face Price Correction?

  

Today, Bitcoin price is down. Is it true that Bitcoin no longer dominates the crypto ecosystem? Understand how BTC is doing to other crypto tokens by reading this article until the end.

Bitcoin Price today it's down. Even though the decline is not too big, this decline is a sign that the crypto ecosystem is not in good condition. The reason is, not only Bitcoin, but the majority of crypto tokens are also experiencing prices plummeting today.

What is the real state of the crypto market now? Is it true that there will be a major price correction in the future and the price drop in the majority of crypto tokens today is the start of that price correction? Check out the explanation below.

Current Bitcoin Price Chart

As of today, the price of Bitcoin to USDT has decreased by 1.72%. Perhaps, this decline does seem small because the current BTC price is still above $64K. However, previously Bitcoin was for $66,076, which means the price of BTC has fallen quite a lot at this time.

Looking at the Bitcoin price graph taken from the Bitrue market above, the RSI value is quite worrying because it is at 39. This means that if the BTC RSI value falls again, then BTC will be recorded as experiencing over selling and this will make the BTC price fall further.

The BTC MACD indicator also decreased with a fairly wide distance between the two lines. This condition makes predictions of bearish BTC stronger.

Bitcoin Predicted to Rise in Q4

There is a unique curse that is widely believed among analysts and crypto observers, namely Bitcoin which always gets worse in September. This is not even just a curse that can be taken lightly because there is underlying data.

Above is data on the decline and rise in Bitcoin prices since 2013. You can see that every September, BTC experiences a price decline. If this data continues, it means that BTC token holders will be happy because it means that in October BTC will experience another price increase.

Crypto Ecosystem Will Experience Price Correction?

Currently, the majority of crypto tokens are red. Not only Bitcoin, but Ethereum, Solana, BNB, USDT, and various memecoins also experienced price declines.

You can see from the screen capture the crypto ecosystem heatmaps taken from Cryptorank above. Many crypto tokens are experiencing price declines. The price decline is not that high, but this needs to be looked at more carefully because it is not just one or two tokens that have dropped in price.

This correction prediction is supported by Fear & Greed data. Currently, the crypto ecosystem is in the greed phase, which means that there is a chance for correction in the future. This greed phase has been going on since yesterday even though in the previous week, the crypto ecosystem was in the Neutral phase.

Quoted from Trading View, Bitcoin's role is currently quite dominant with a dominance figure of 57.17%. This Bitcoin dominance figure decreased by 0.63% in 24 hours.

Conclusion

That's an analysis of the price of Bitcoin and how the crypto market conditions are as of today, September 30. If you are currently researching Bitcoin or other crypto tokens, you can directly visit the Bitrue website.

There are many interesting features on Bitrue that you can use to do research before investing in crypto. You can check the token price and convert it to the current USD price, for example, BTC to USD to find out the latest information on the crypto ecosystem by reading articles on the Bitrue blog.

If you are a new player in the crypto ecosystem, Bitrue is also a website that makes it easier for you to learn how to buy BTC and other crypto tokens.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This Press Release has also been published on VRITIMES

Harmony Unveiled - A Luxurious Evolve Wellness Retreat at Banwa Private Island, Palawan, Philippines

  

Escape to Banwa Private Island, a serene sanctuary nestled within the Palawan UNESCO biosphere reserve in the Philippines, for a transformative 4-day, 3-night wellness retreat. "Harmony Unveiled", happening from November 28th to December 1st, 2024, offers a unique blend of invigorating yoga sessions, empowering Pilates workouts, and immersive sound bath meditations.

This all-inclusive retreat caters to all levels, with world-class instructors guiding you towards physical, emotional, and spiritual well-being. Relax amidst breathtaking natural beauty and reconnect with yourself through expertly crafted sound meditations in stunning locations across the island. Indulge in refined accommodations and savor exquisite contemporary cuisine featuring fresh, local ingredients. Banwa Private Island's unparalleled service ensures a truly unforgettable retreat experience. Ready to embark on a journey of self-discovery and renewal? Visit Banwa Private Island's website or email reservations@banwaprivateisland.com to book your spot today!

Banwa Private Island, a serene sanctuary nestled in Sulu Sea, Philippines, is set to unveil "Harmony Unveiled", an exclusive 4-day, 3-night luxury wellness retreat from November 28th to December 1st, 2024.

Nestled within the Palawan UNESCO biosphere reserve, Banwa Private Island offers a pristine and mosquito-free environment, surrounded by abundant nature and endangered species. The island's natural spring water feeds the showers and swimming pools, providing a truly immersive connection to the natural world.

Guests will embark on a curated program that seamlessly blends invigorating yoga sessions, empowering Pilates workouts, and immersive sound bath meditations. These activities, set against the backdrop of Banwa Private Island's breathtaking landscapes, aim to harmonize the physical, emotional, mental, and spiritual well-being.

The retreat is tailored to suit both beginners and seasoned yoga and fitness enthusiasts, ensuring personalized attention and growth for every participant. World-class instructors Ginger Diaz Serrano and Katrina Sandejas-Manosa will lead daily yoga and Pilates classes, adapting to individual needs and fostering a sense of unity within the group.

Ginger Diaz Serrano is a seasoned yoga instructor with over 18 years of experience. She began her journey as a Bikram Yoga practitioner in Honolulu, Hawaii and has since become a certified Bikram Yoga Instructor. Ginger has participated in numerous yoga events, including the Philippine Yoga Asana Championships, and has been featured on TV and in print. In 2010, she founded her own studio in Manila, Philippines called Evolve Yoga and Fitness. A certified Vinyasa and Inferno Hot Pilates instructor, Ginger has been a participant, presenter, and organizer of international yoga conferences around the world and now runs luxury wellness retreats in unique locations.

Katrina Sandejas-Manosa is a dedicated yoga practitioner and instructor with over 20 years of experience. She began her teacher training in 2009 and has since taught and practiced yoga in various countries, including the Philippines, Thailand, USA, Malaysia, Singapore, and Hong Kong. Katrina is also a business owner, having operated 'Real Food, A Healthy Neighborhood Grocery', for the past 9 years.

Incorporating the healing power of sound, meditation sessions will take place in unique locations across the island, from pristine beaches to lush tropical gardens. Guests will immerse themselves in the soothing sounds of nature combined with expertly crafted soundscapes, allowing them to unwind, release stress, and achieve a profound state of relaxation.

Banwa Private Island's refined accommodation, contemporary cuisine by award-winning Swiss Chef Martin Kaspar, and unparalleled service add an extra layer of indulgence to the retreat experience. Each day will culminate in gourmet dining, offering a selection of healthy and delectable dishes to nourish the body and delight the palate.

"Harmony Unveiled" invites guests to escape the ordinary and embark on a transformative journey towards holistic wellbeing. Join us on Banwa Private Island where the fusion of luxury, nature, and wellness creates a haven for self-discovery and renewal. Elevate the mind, embrace the body, and harmonize the spirit in this unique and unforgettable retreat.

For more information and to book your spot in this transformative retreat, please visit Banwa Private Island’s website https://www.banwaprivateisland.com/harmony-unveiled-a-luxurious-evolve-wellness-retreat-november-28-december-1-2024/ or send email to reservations@banwaprivateisland.com

About Banwa Private Island

Banwa Private Island is an intimate all-villa destination for discerning guests wanting to experience privacy and seamless service in a marine and land nature reserve. Nestled in one the world’s last frontiers of natural biodiversity, north-eastern Palawan in Philippines, the island sanctuary boasts of breath-taking views, verdant landscape, pristine beach and turquoise waters.

Banwa Private Island’s beachfront villas are designed to soak our guests in the natural beauty of the island. Floor-to-ceiling windows allow the outside to flood in, the beach and garden terraces are mere bare-footsteps away and an infinity pool melts into the ocean. For a quintessential island escape, guests can choose to stay in a contemporary-designed villa or exclusively charter the whole island for family, friends and colleagues.

Central to Banwa Private Island’s ethos, the Aquos Foundation was established to support, nurture and protect delicate ecosystems. Among its pioneering programs is the protection and restoration of habitats of the critically endangered Mantanani Scops Owl, Hawksbill Turtle and the Tabon Bird (Philippine Megapode).

This Press Release has also been published on VRITIMES

Karaoke Manekineko Malaysia Expands Menu with Delicious New Offerings!

Karaoke Manekineko Malaysia is proud to announce the introduction of exciting new menu items that are sure to satisfy cravings and enhance the dining experience. With a blend of savory snacks and hearty mains, the latest additions include Edamame, Nuggets, and a range of flavorful dishes perfect for sharing or enjoying solo.

Guests can now indulge in a selection of delectable meals, including Pasta, Burgers, and the signature Local delight—Fried Rice. Additionally, the menu features the much-loved Teriyaki Don and a specially crafted Platter for Celebrations, making it the ideal spot for gatherings and celebrations.

“At Karaoke Manekineko, we believe that great food and fun go hand in hand,” said the spokesperson for Karaoke Manekineko Malaysia. “Our new menu items are designed to enhance our guests’ experience, offering delicious options to enjoy while singing their hearts out!”

To celebrate the launch of the new menu, Karaoke Manekineko Malaysia invites everyone to visit and try these delectable dishes. Whether you’re in the mood for a light snack or a full meal, there’s something for everyone to enjoy.

For more information or to make a reservation, please visit https://karaokemanekineko.my/ or contact us at +603-20116888.

About Koshidaka International KL Sdn Bhd

Koshidaka International was incorporated in 2021 at Kuala Lumpur, Malaysia as a full subsidiary of Koshidaka Holdings. The company serves as a management consultancy arm for the Karaoke Manekineko operations in Malaysia, Thailand, and Indonesia. Karaoke Manekineko is a friendly and safe environment for Karaoke that is designed to accommodate a diverse range of customers, from families with young children to groups of friends and corporate teams.

 

This Press Release has also been published on VRITIMES

Enjoy 14-Peso Wintermelon Milk Tea at Moonleaf’s 14th Anniversary Fiesta

  

Moonleaf is celebrating its 14th anniversary with a special offer of wintermelon milk tea for only 14 pesos on October 3, 2024, from 1 PM to 3 PM at all branches.

Moonleaf invites everyone to celebrate their 14th anniversary on October 3rd with special 14-peso wintermelon milk tea and a month-long fiesta of exciting deals and festivities 

Get ready to join the Fiestang Moonleaf, because in celebration of its 14th anniversary, Moonleaf will offer wintermelon milk tea for only 14 pesos! This offer is available on October 3, 2024, from 1 PM to 3 PM at all branches nationwide.

The celebration continues throughout October with an exclusive offer to buy 1 pearl milk tea and get your second cup for only 14 pesos, available every Friday to Sunday.

Moonleaf invites everyone to join the online fun by tagging the brand with their favorite Moonleaf drink and using the hashtag #FiestangMoonleaf. Posts with the hashtag will contribute to the festive spirit and may be featured on Moonleaf’s social media channels.

Since its founding in 2010, Moonleaf has been dedicated to crafting high-quality, handcrafted beverages. With almost 80 branches across the country, Moonleaf has become the ultimate milk tea tambayan for students for 14 years, continuing to spread good vibes by brewing delicious tea and creating food treats.

Visit Moonleaf Tea Shop’s website at www.moonleaf.ph or follow their social media via @moonleafteashop on Facebook and Instagram for inquiries and updates. For tasty treats, shop their refreshing mixes and more thru FoodPanda, Grab Food. 

About Moonleaf Tea Shop

Moonleaf Tea Shop, founded in 2010, is a popular Filipino milk tea brand with almost 80 branches nationwide. Known for its handcrafted beverages, it has become a favorite hangout spot for students and milk tea lovers.

This Press Release has also been published on VRITIMES

Introducing New High Tea and Dinner Packages at Karaoke Manekineko Malaysia!

 

Karaoke Manekineko Malaysia invites guests to indulge in delightful culinary experiences with our new High Tea and Dinner Packages, featuring an array of delicious dishes and 90 minutes of karaoke fun.

Karaoke Manekineko Malaysia is thrilled to announce the launch of our new High Tea and Dinner Packages, designed to offer guests a unique combination of delicious food and vibrant entertainment. Starting from RM23++, these packages are perfect for anyone looking to enjoy a fun-filled evening with friends and family.

High Tea Package (Available from 3 PM to 6 PM)For just RM23++, guests can savor a delightful selection of bites, including:

Sausage Roll, Salad Roll, Nuggets, Fries (200g), Takoyaki Balls

Dinner Package (Available from 6 PM until closing)For RM28++, our Dinner Package including:

Mini Burger, Thai Basil Fried Rice, Jigoku Ramen, Teriyaki Chicken Pizza, Tandoori Chicken Pizza

Both packages include a complimentary 90-minute singing session, FREE Flow Drinks & Tidbits, making it the perfect setting for those looking to unwind and showcase their vocal talents.

Our packages are available every day of the week, including public holidays and the eve of public holidays. Whether you’re celebrating a birthday, hosting a gathering, or simply looking for a fun way to spend your evening, Karaoke Manekineko Malaysia has you covered!

Don’t miss out on this fantastic opportunity! Book your High Tea or Dinner Package today and indulge in an unforgettable evening filled with great food and karaoke fun. For reservations and more information, please visit https://karaokemanekineko.my/outlets/ or contact us at +603-20116888.

About Koshidaka International KL Sdn Bhd

Koshidaka International was incorporated in 2021 at Kuala Lumpur, Malaysia as a full subsidiary of Koshidaka Holdings. The company serves as a management consultancy arm for the Karaoke Manekineko operations in Malaysia, Thailand, and Indonesia. Karaoke Manekineko is a friendly and safe environment for Karaoke that is designed to accommodate a diverse range of customers, from families with young children to groups of friends and corporate teams.

This press release has also been published on VRITIMES

Ethereum (ETH) Price Drops Again, Is It Predicted to Reach $10,000?

 

Ethereum (ETH) price today has decreased. However, the prediction of Ethereum price increase to $ 10,000 is still strong with the existing technical data. Here is the full explanation.

Amid today's declining crypto market conditions, ETH is predicted to achieve a price increase of $10,000. However, today Ethereum price also fell like the majority of other crypto tokens. 

So, how can ETH get a predicted price increase? Even though ETH's recent performance has also underperformed compared to BTC.

Current Ethereum (ETH) Price Chart

Above is the ETH to USDT price chart taken from the Bitrue website. When this article was written on September 30, Ethereum was trading at $2,616 with a decline of 1.18% in the last 24 hours. Previously, during the same period, ETH was at $2,673 as its highest price.

The number on the ETH RSI indicator is 47.80, which means that ETH is safe, not in an over-selling condition even though there is a decrease in purchasing numbers.

Ethereum's MACD condition is also quite safe with the graph declining but not yet touching the boundary line. Thus, ETH bearishness is technically not coming any time soon.

Are There Signals of an Ethereum Price Bullish?

Recently, Ethereum has experienced poor performance. Several times the price of ETH was in the red even though the majority of crypto tokens were rising.

However, it is predicted that global macroeconomic trends will provide benefits for Ethereum. M2 money supply growth will support Ethereum price increases.

Later, when the central bank eases monetary restrictions it will create a new surge in liquidity in Ethereum which is also in line with Bitcoin.

Beyond global macroeconomic trends, Julien Bittel, head of macro research of Global Macro Investor, stated that ETH could reach its $10,000 price target shortly by conducting a technical analysis of Ethereum.

This is because there are similarities between the current Ethereum price chart and 2023-2024 when ETH experienced a sharp increase. 

However, today's Ethereum price drop is nothing to worry about. This is because the crypto market condition is not currently good. The majority of crypto tokens experienced price declines of varying amounts.

Not only the prices of large tokens, such as BTC, ETH, SOL, USDT, and BNB but also various meme-coins also experienced price declines. GameFi tokens that have been hotly discussed recently, such as HMSTR, NOT, and DOGS, are also following this downward price trend.

Conclusion

This is information about the downward trend in the price of Ethereum (ETH), complete with a discussion of how to predict the price increase in the future.

For those of you who want to learn how to buy ETH, Bitrue has a solution for you. Many features can be used, starting from checking ETH prices in real-time, reading the latest information about Ethereum, to checking conversion prices from ETH to USD easily.

By conducting in-depth research before buying crypto tokens, you will be more secure so you can easily determine an investment budget according to your financial condition.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This press release has also been published on VRITIMES

Companies, stop striving for zero complaints

 

Your customers' complaints could be the goldmine you’re overlooking.

We want zero complaints,” says every company in the world. But what if complaints are the secret competitive advantage your business needs?

"Complaints offer an intimate way of understanding your business through the eyes of your customers," Dr. Janelle Barlow, President of All Out Performance and author of A Complaint is a Gift, said during her talk, Turning Critics into Advocates hosted by Management Strategies on September 23, 2024, at Discovery Primea, Makati. 

The event explored a radical idea: complaints can be your greatest source of insight and revenue if only companies dared to listen.

And listen they did. Senior management who attended the event came from private foundations, telecommunications, finance, real estate and hospitality industries.

Silence is worse

If complaints aren’t bad news for companies, why don’t more customers speak up?

Many don’t think anything will get done, or the situation could worsen further. Dr. Barlow shared an anecdote about people being afraid to complain to their doctors, worrying that voicing their concerns might lead to worse treatment.

The same logic applies in business: silence from customers can be far more dangerous than complaints. These are the customers who simply walk away–the 50% you’ll never see again.

But, here's the twist: 60-70% of customers who have their complaints resolved satisfactorily go on to buy five times more than they initially would have.

"If you solve their concerns instead of over-apologizing, they’ll actually come back to repurchase five times more,” Dr. Barlow said. “This is the power of complaint handling in the language of revenue and results.”

Everyone owns the complaint

Only 1 in 10,000 written complaints ever make their way to senior management. In the US, companies are losing 1 trillion dollars due to poor complaint handling.  

Dr. Barlow emphasized the need to break down silos. Businesses must instead foster a culture where everyone feels responsible for addressing customer concerns.  

Too often, companies are laser-focused on acquiring new customers, missing the retention goldmine. 

Retaining existing customers is significantly cheaper than attracting new ones. And the rewards are exponential. A small increase in retention can lead to a dramatic uptick in profits.

“Most companies spend half of their revenue attracting new customers,” Dr. Barlow revealed. “But retaining even just 5% of your customers can lead to up to 95% profit increase.”

Turning critics into advocates

So what can businesses do in face of complaints? Dr. Barlow suggests three power tools that will turn even the worst critics into staunch advocates.

First, widen your customers’ tolerance zone. “When customers feel understood and valued, they are far more forgiving,” Dr. Barlow explained. A little friendliness and empathy go a long way in easing tensions and getting customers on your side. Instead of reacting defensively, aim to create an environment where your customers feel heard. 

Next, speed. “Above all, what customers want from service is responsiveness,” Dr. Barlow emphasized. Quick resolutions show that you value their time and concerns. When you act swiftly, you not only diffuse anger but also demonstrate your company’s commitment to resolving problems. 

Big data can speed up resolution. “Access to every data point can address the root cause of customer complaints and understand them beyond face value.”

Finally, fairness is more important than you realize. Customers aren’t just looking for their problem to be solved—they want it handled fairly. When your solution feels balanced and just, customers are more likely to leave with a positive impression, even if things didn’t start off smoothly. 

Behind every complaint is a gift. The question is: Are you ready to unwrap it?

This press release has also been published on VRITIMES

Abaddon sets out to ensnare players in its web – release date and price for Kong: Survivor Instinct revealed!

 

Polish indie studio, 7LEVELS, and Singapore based publisher, 4Divinity, have announced the release date for its newly revealed game, Kong: Survivor Instinct. Inspired by Legendary Entertainment’s Monsterverse, this thrilling new game is set to launch this fall on PCs via Steam, PlayStation 5, and Xbox Series X|S. 

Kong: Survivor Instinct is an exhilarating action-adventure game that combines intense platforming with combat, and metroidvania-style exploration, delivering an epic quest for survival in the heart of the Monsterverse. Watch the new gameplay trailer: 

Kong: Survivor Instinct - Gameplay Trailer: 

[LINK] 

The trailer shows the gameplay players can expect, as well as the game mechanics that will be present throughout the game. The 2.5D platformer perspective is clearly visible and complements the visuals that have been polished for the release that complete the art style chosen.  

The game is set after the events of Godzilla vs. Kong, and presents a visually rich environment with a single-player experience that will immerse players in a narrative that adds a new chapter to the Monsterverse lore. As players navigate a shattered city, they’ll experience firsthand the devastating power of the titans as they explore the non-linear world. 

The story follows a father's desperate search for his daughter, who's lost amidst the crumbling city under the weight of the Titans showdown. Utilizing the surrounding technology, players will manipulate the titans' movements and use their destructive force to their advantage. This metroidvania-inspired world is swarmed with collapsing buildings, toxic leaks, raging fires, and pure chaos, which players must navigate. 

In their journey, players will face off against both iconic and brand-new titan species, including the awaited and teased Abaddon — created by the 7LEVELS team in conjunction with Legendary Entertainment.  Reuniting with the mighty Kong, players will also encounter other ferocious titans, with the innovative Monarch ORCA Σ device being their only hope to influence the beasts and survive. 

Kong: Survivor Instinct will be available on PC, PlayStation 5, and Xbox Series X|S on October 22, 2024. The game will be priced at $24.99, but players can expect a discount upon release. Add it to your wishlist on Steam now while you wait for the release, and be the first to take advantage of the offer! 

Including an inter-connected world of video games, graphic novels, toys, and live experiences, the Monsterverse represents epic entertainment on the largest possible scale. 

About 7Levels: 

We are an independent team of professionals who made their passion a way of life. Founded in 2014 and based in Poland, 7Levels is focused on creating exciting action-adventure games with exceptional settings and novel twists on gameplay. 

Godzilla: King of the Monsters © 2019 Legendary and WBEI. All Rights Reserved. Godzilla vs. Kong © 2021 & TM Legendary and WBEI. All Rights Reserved. GODZILLA TM & © Toho Co., Ltd. MONSTERVERSE TM Legendary. 

7Levels is a trademark of 7Levels S.A. All Rights Reserved. 

About 4Divinity Pte Ltd

4Divinity is a digital and retail games publishing company focused on bringing exciting games content from around the world to Asia and introducing Asian content to a global market. Along with its sister company Epicsoft Asia, 4Divinity is partnering with publishers and development studios to introduce brand-new IP to the region. 

https://www.4divinity.com/ 

This press release has also been published on VRITIMES

Andi Rivera: Leading Gen Z’s Charge Toward a Future-Ready World

Andrea Joaquin Rivera, also known as "Andi" by many, is a pioneering Gen Z entrepreneur making waves as the founder of Janus Aether, a tech company dedicated to creating forward-thinking, future-ready solutions. Despite her young age, Andi has already made a significant impact in the tech and business world by leading initiatives that prioritize innovation, adaptability, and sustainability. Her company focuses on developing technologies that not only meet today’s needs but also anticipate future challenges, placing her at the forefront of future-proof solutions.

In addition to her work with Janus Aether, Andi is launching a new app designed to make mobile service payments more accessible and less intimidating for users. This venture reflects her commitment to empowering people through technology, ensuring that digital financial tools are easy to navigate for everyone, particularly Gen Z. Rivera’s efforts continue to simplify complex tech, enabling more individuals to engage with these innovations confidently.

Her leadership extends beyond her own ventures, as demonstrated by her involvement in high-impact events like the Business 4.0 2024 Summit Edition. This summit, which brought together visionary leaders from various industries, aimed to explore how businesses can future-proof themselves by leveraging cutting-edge technologies.

The summit itself was a testament to the power of Gen Z, with many of the speakers, event planners, and even the host, all belonging to this generation. This created a unique environment where young leaders not only exchanged bold ideas but also led the way in envisioning a future-ready world. Andi’s presence and influence underscored the idea that Gen Z is not just contributing to the conversation about the future of business—they are driving it.

Looking ahead, Andi is planning more events that will engage and capture the attention of Gen Z and younger generations, urging them to join her in shaping a future where they take responsibility for the world’s direction. Her vision is of a world where Gen Z leads the charge in creating positive change, using technology, innovation, and collaboration to ensure a sustainable and thriving future for all.

By spearheading such initiatives, Andi Rivera is proving that her generation is ready not only to shape the future but to lead it with passion, intelligence, and creativity.

This Press Release has also been published on VRITIMES

 

Unlocking the Hidden Goldmine: How Customer Complaints Can Transform Your Business

 

Your customers' complaints could be the goldmine you’re overlooking.

“We want zero complaints,” says every company in the world. But what if complaints are the secret competitive advantage your business needs?

"Complaints offer an intimate way of understanding your business through the eyes of your customers," Dr. Janelle Barlow, President of All Out Performance and author of A Complaint is a Gift, said during her talk, Turning Critics into Advocates hosted by Management Strategies on September 23, 2024, at Discovery Primea, Makati.

The event explored a radical idea: complaints can be your greatest source of insight and revenue, if only companies dared to listen.

And listen they did. Senior management who attended the event came from private foundations, telecommunications, finance, real estate and hospitality industries.

Silence is worse

If complaints aren’t bad news for companies, why don’t more customers speak up?

Many don’t think anything will get done, or the situation could worsen further. Dr. Barlow shared an anecdote about people being afraid to complain to their doctors, worrying that voicing their concerns might lead to worse treatment.

The same logic applies in business: silence from customers can be far more dangerous than complaints. These are the customers who simply walk away–the 50% you’ll never see again.

But, here's the twist: 60-70% of customers who have their complaints resolved satisfactorily go on to buy five times more than they initially would have.

"If you solve their concerns instead of over-apologizing, they’ll actually come back to repurchase five times more,” Dr. Barlow said. “This is the power of complaint handling in the language of revenue and results.”

Everyone owns the complaint

Only 1 in 10,000 written complaints ever make their way to senior management. In the US, companies are losing 1 trillion dollars due to poor complaint handling.

Dr. Barlow emphasized the need to break down silos. Businesses must instead foster a culture where everyone feels responsible for addressing customer concerns.

Too often, companies are laser-focused on acquiring new customers, missing the retention goldmine.

Retaining existing customers is significantly cheaper than attracting new ones. And the rewards are exponential. A small increase in retention can lead to a dramatic uptick in profits.

“Most companies spend half of their revenue attracting new customers,” Dr. Barlow revealed. “But retaining even just 5% of your customers can lead to up to 95% profit increase.”

Turning critics into advocates

So what can businesses do in face of complaints? Dr. Barlow suggests three power tools that will turn even the worst critics into staunch advocates.

First, widen your customers’ tolerance zone. “When customers feel understood and valued, they are far more forgiving,” Dr. Barlow explained. A little friendliness and empathy go a long way in easing tensions and getting customers on your side. Instead of reacting defensively, aim to create an environment where your customers feel heard.

Next, speed. “Above all, what customers want from service is responsiveness,” Dr. Barlow emphasized. Quick resolutions show that you value their time and concerns. When you act swiftly, you not only diffuse anger but also demonstrate your company’s commitment to resolving problems.

Big data can speed up resolution. “Access to every data point can address the root cause of customer complaints and understand them beyond face value.”

Finally, fairness is more important than you realize. Customers aren’t just looking for their problem to be solved—they want it handled fairly. When your solution feels balanced and just, customers are more likely to leave with a positive impression, even if things didn’t start off smoothly.

Behind every complaint is a gift. The question is: Are you ready to unwrap it?

About MANAGEMENT STRATEGIES

Management Strategies is a global consulting firm specializing in culture building and organizational transformation.

Today, with over 50 passionate consultants and coaches worldwide, the company continues to focus on bringing out the best in people and activating their purpose and strengths. For more information on the company and their services, visit their website at www.mgtstrat-asia.com

This press release has also been published on VRITIMES

World Elephant Day Celebration 2024: Fostering Coexistence between Humans and Elephants in Johor for Future Generations

 

Sungai Ara, September 27, 2024 — More than five hundred community members including children gathered at the Dewan Masyarakat Sungai Ara (Demasra) FELCRA Sungai Ara in Johor to participate in the World Elephant Day Celebration yesterday. This event brought together various stakeholders to celebrate and strengthen conservation efforts to achieve harmonious coexistence between humans and elephants. The celebration was organised by Earthworm Foundation, an impact-driven non-profit organisation, and the Human-Elephant Coexistence (HEC) Committee of Sungai Ara, with support from the Malaysian Palm Oil Green Conservation Foundation (MPOGCF).

Mohd Saharuddin Bin Mohd Yunus, Chief Assistant to District Officer of Kota Tinggi, who opened the event, emphasised the importance of collective action. “Achieving coexistence between humans and elephants is a shared responsibility for all of us,” he stated. He highlighted various state efforts, including regular monitoring by PERHILITAN, the installation of road lights, and the fitting of collars on elephants to track their movement.

For the first time, two trained elephants from the Johor Elephant Sanctuary were brought to the event, allowing community members to interact closely with these magnificent animals. “I hope this experience nurtures a sense of care for wildlife, especially Asian elephants, which are often mistakenly blamed for crop damage despite their vital role in maintaining ecosystem balance,” said Mohd Saharuddin Bin Mohd Yunus.

Safiai Bin Mohammad, Chair of the HEC Committee of Sungai Ara, who has been farming since 1975 and has experienced numerous interactions with elephants, emphasised the need for the community to shift their perspective and mindset. “I used to see them as enemies, but now I understand that they are allies in our ecosystem.”

According to the Peninsular Malaysia Department of Wildlife and National Parks, negative interactions between humans and elephants from 2015 to 2020 resulted in estimated economic losses of RM 30 million (approximately USD 6.4 million), primarily due to crop damage. In 2019 alone, nearly 50% of these losses, amounting to RM 14 million (about USD 2.9 million), were recorded.

Kiah Hui Ooi, Southern Central Forest Spine (SCFS) Landscape Coordinator and Country Representative of the Earthworm Foundation in Malaysia, emphasised the importance of collective action for future initiatives. “We are proud to announce that we have successfully facilitated the establishment of the Human-Elephant Coexistence (HEC) Committee in Sungai Ara,” she stated. This committee is the first of its kind in Peninsular Malaysia, bringing together smallholders and large plantation concessions.

Unfortunately, on the same day as the event, not far from the location where the commemoration took place, an incident of human-elephant interaction occurred in the Mersing area that resulted in fatalities. The incident highlighted the urgency and importance of collective action, as well as awareness raising. “Now more than ever, it is important to explore long-term solutions, such as enriching elephant habitats and migration routes and establishing wildlife corridors. Joint action and collaboration among stakeholders are imperative,” added Kiah Hui Ooi.

The palm oil industry join hands with communities and stakeholders towards the human-elephant coexistence. Hairulazim Mahmud ,General Manager of MPOGCF that funded the HEC program in Sungai Ara stated, “The palm oil industry in Malaysia is committed to supporting elephant conservation efforts and achieving human-elephant coexistence. This demonstrates our dedication to environmental preservation and sustainable practices.”

The World Elephant Day event also featured a variety of educational and interactive activities, including a colouring competition for children, aimed at instilling love and curiousity for elephants. Under the theme of maintaining a legacy for future generations, this World Elephant Day not only commemorates the existence of elephants, but also raises public awareness about the importance of conservation and the hope for harmonious human-elephant coexistence. Apart from the World Elephant Day commemoration event in Johor, Earthworm Foundation and partners also held a similar event in Sabah.

About Earthworm Foundation
Earthworm Foundation is an impact-driven non-profit that works with businesses, civil society, communities, governments and others to tackle environmental and social issues in sourcing landscapes and supply chains.

Our team of supply chain, social, and environmental experts operates across five continents, striving to enhance conditions for individuals, forests, and soils affected by the production of cocoa, packaging, palm oil, rubber, and other commodities. With a network of over 100 members and partners, our foundation is dedicated to implementing responsible sourcing commitments in supply chains and innovating practical solutions to address social and environmental challenges across diverse sourcing landscapes. Find out more at www.earthworm.org.

About Human-elephant Coexistence (HEC) Committee Sungai Ara

HEC Committee Sungai Ara is the first of its kind in Peninsular Malaysia. Established in October 2023, the committee comprised of ten fixed members, chaired by Koperasi Perladangan Sungai Ara (KPSA), co-chaired by Kota Tinggi District Office, and advised by government and non-government agencies. The committee currently manages 8,400ha of agricultural, natural and residential areas under Managed Elephant Zone.

About Malaysian Palm Oil Green Conservation Foundation (MPOCGF)

The Malaysian Palm Oil Green Conservation Foundation (MPOGCF) is an initiative spearheaded by the Ministry of Plantation and Commodities (MPC) aimed at supporting conservation efforts within the palm oil industry, demonstrating Malaysia’s dedication to environmental preservation.

Through various initiatives, MPOGCF endeavors to enhance the Malaysian palm oil industry’s global reputation, facilitating its attainment of sustainable practice certifications. MPOGCF diligently monitors key conservation areas within the palm oil sector, striving to safeguard and sustainably manage the nation’s natural heritage over the short, intermediate, and long term.

We are steadfast in communicating to the world that Malaysia’s palm oil industry operates with environmental responsibility at its core. Our funding initiatives stand as a testament to the industry’s unwavering commitment to environmental conservation and the promotion of a green landscape. For more information on MPOGCF, please visit www.mpogcf.org

This press release has also been published on VRITIMES