Jeweller - October 2018

INDUSTRY INSIGHTS
CHRIS BOTHA
JULIA ZAETTA
That said, it is dynamic and keeps evolving. It’s something you can
change anytime anywhere.”
“When you’re starting out, the first thing you need to aim for is
visibility, so people know who you are. Depending on your
services or products, you can also use social media to build
credibility,” she said.
Huang went on to explain that consumer interactions with social
media marketing must be frequent in order to translate into sales.
“You need seven points of contact in order to build a relationship
with your audience and an estimated 20 hours of them consuming
your content before they are likely to consume your products,”
she said.
Retailers were also given an opportunity to learn about capitalising
on raw materials through metal refinery. Pallion’s Chris Botha
explained that retailers should look to have their raw materials
refined on a biennial basis to rid of old or poor performing stock.
“Gold is today what it was yesterday and what it will be tomorrow. It
will never change. As things get cheaper, more expensive, harder or
faster to make, you still have the same thing,” he explained.
“See what’s not selling and ask yourself, ‘can you mark it down or can
you move it through?’ and if you can’t, then what can you do with it?”
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Botha went on to explain the importance of finding a reputable
metal refinery that should charge money for its services, given the
cost of running the ovens that heat metal to 10,000 centigrade.
“It is imperative that you ask your refinery where their laboratory
is and what it is testing. If they cannot tell you where the lab is, or
cannot offer to take you on a tour, then you should be very careful,”
Botha said.
“The ovens that do the refining stand nearly twice as tall as me
and run on gigawatts of power. If somebody is offering to do their
refining for free as part of some other service beware,” Botha said,
adding that investment in a laboratory ran into the millions.
“Can they guarantee your return is what you will actually receive?
It is imperative you ask for it.” Retailers took Botha’s advice on board
and applied it to all aspects of the conference.
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All seminars were followed with ample question time in
which retailers and guests had a chance to have any
questions answered. i