finlo Posted August 21, 2014 Share Posted August 21, 2014 Very little warranty work with Hyundai's or Subaru's maybe that's part of the problem. Link to comment Share on other sites More sharing options...
woolley Posted August 21, 2014 Share Posted August 21, 2014 BCM must have spent an absolute fortune on advertising. Don't know whether they reduced that at all recently, although I did notice that they'd sacked Stu from the "Gone in 60 seconds" thing. It amazes me how some companies hit the buffers while still doing loads of expensive marketing. Maybe they think reducing advertising will make things worse. I doubt that from my experience having reduced frightening expenditure on advertising in recent years. Should have done it ten years earlier. Probably a good 6 figure sum wasted................... Link to comment Share on other sites More sharing options...
BigDave Posted August 21, 2014 Share Posted August 21, 2014 It amazes me how some companies hit the buffers while still doing loads of expensive marketing. Maybe they think reducing advertising will make things worse. In many cases they're already balls deep in a big advertising contract which costs as much to terminate as it does to continue. Link to comment Share on other sites More sharing options...
censorship Posted August 21, 2014 Share Posted August 21, 2014 BCM must have spent an absolute fortune on advertising. Don't know whether they reduced that at all recently, although I did notice that they'd sacked Stu from the "Gone in 60 seconds" thing. It amazes me how some companies hit the buffers while still doing loads of expensive marketing. Maybe they think reducing advertising will make things worse. I doubt that from my experience having reduced frightening expenditure on advertising in recent years. Should have done it ten years earlier. Probably a good 6 figure sum wasted................... You've been spending in the region of £10,000 a year on advertising and it took you a decade to realise you didn't need it? Don't think I'll be taking your advice on running a business. Link to comment Share on other sites More sharing options...
Mr. Sausages Posted August 21, 2014 Share Posted August 21, 2014 The wise man learns from the mistakes of others. Link to comment Share on other sites More sharing options...
censorship Posted August 21, 2014 Share Posted August 21, 2014 The wise man learns from the mistakes of others. A wiser man knows not to trust the judgement of someone who is so stupid they repeat the same mistake for year after year after year Link to comment Share on other sites More sharing options...
woolley Posted August 21, 2014 Share Posted August 21, 2014 BCM must have spent an absolute fortune on advertising. Don't know whether they reduced that at all recently, although I did notice that they'd sacked Stu from the "Gone in 60 seconds" thing. It amazes me how some companies hit the buffers while still doing loads of expensive marketing. Maybe they think reducing advertising will make things worse. I doubt that from my experience having reduced frightening expenditure on advertising in recent years. Should have done it ten years earlier. Probably a good 6 figure sum wasted................... You've been spending in the region of £10,000 a year on advertising and it took you a decade to realise you didn't need it? Don't think I'll be taking your advice on running a business. Suit yourself. Spending was a lot more than £10k a year, nearer to that a month. Have you seen the cost of marketing lately? My business is successful and the advertising built up concurrently with the sales over about 10 years. £10k per year, or even treble that, is still a small part of the total budget so it is quite difficult to know which parts of your marketing are working for you and which aren't. When the more difficult times began to hit, we just started to cut out what we believed were the more archaic and less effective aspects of our campaigns. We did it over about 2 years and it did not hurt us that much. So we cut a bit more. It is only with the benefit of hindsight that you look back and think you might have saved about quarter of a million there had you done the same thing earlier. No point in crying over spilt milk. We did OK looking at the whole picture. Nobody in business gets everything totally right 100% of the time, or they are lying. Link to comment Share on other sites More sharing options...
Truth Seeker Posted August 21, 2014 Share Posted August 21, 2014 Car dealership to be wound up. "One of the islands best known car dealerships is going into voluntary liquidation. A meeting of creditors of Barry Curran Motors will take place at noon on Wednesday (August 27) at Burleigh Manor on Peel Road, Douglas. The voluntary winding up the company was announced to shocked staff on Wednesday. Having relocated from Ramsey in 2007, Barry Curran Motors had a showroom on Demense Road, Douglas, before the Hyundai dealership moved to its car superstore on Isle of Man Business Park, off Cooil Road, Braddan." http://www.iomtoday.co.im/news/isle-of-man-news/car-dealership-to-be-wound-up-1-6798363 Link to comment Share on other sites More sharing options...
Stu Peters Posted August 21, 2014 Share Posted August 21, 2014 BCM must have spent an absolute fortune on advertising. Don't know whether they reduced that at all recently, although I did notice that they'd sacked Stu from the "Gone in 60 seconds" thing. It amazes me how some companies hit the buffers while still doing loads of expensive marketing. Maybe they think reducing advertising will make things worse. I doubt that from my experience having reduced frightening expenditure on advertising in recent years. Should have done it ten years earlier. Probably a good 6 figure sum wasted................... Sacked? How VERY dare you? I said at Xmas that I wanted to retire gracefully, but continued until they came up with a different format for the 'Gone' spots a couple of months ago. Link to comment Share on other sites More sharing options...
NoTail Posted August 21, 2014 Share Posted August 21, 2014 Admirable We rarely see voluntary liquidations for larger businesses. Usually the insolvent business will bury its head in the sand and do anything it can to keep going - including in many cases touching on the illegal. Eventually a creditors forced liquidation will be called, invariably much worse all round and of course much less return for the creditors. It takes courage to stand up and say to the wold "this is not working", I am going to shut down. I personally wish BC (never met him) the best, and I hope that he comes out with a good future. Link to comment Share on other sites More sharing options...
woolley Posted August 21, 2014 Share Posted August 21, 2014 BCM must have spent an absolute fortune on advertising. Don't know whether they reduced that at all recently, although I did notice that they'd sacked Stu from the "Gone in 60 seconds" thing. It amazes me how some companies hit the buffers while still doing loads of expensive marketing. Maybe they think reducing advertising will make things worse. I doubt that from my experience having reduced frightening expenditure on advertising in recent years. Should have done it ten years earlier. Probably a good 6 figure sum wasted................... Sacked? How VERY dare you? I said at Xmas that I wanted to retire gracefully, but continued until they came up with a different format for the 'Gone' spots a couple of months ago. Sorry, Stu. Maybe that was the source of all their troubles. "Gone" now alright. Link to comment Share on other sites More sharing options...
craggy_steve Posted August 21, 2014 Share Posted August 21, 2014 ... it is quite difficult to know which parts of your marketing are working for you and which aren't. When the more difficult times began to hit, we just started to cut out what we believed were the more archaic and less effective aspects of our campaigns. We did it over about 2 years and it did not hurt us that much. So we cut a bit more. It is only with the benefit of hindsight that you look back and think you might have saved about quarter of a million there had you done the same thing earlier.... I have lost count of the number of FDs who have said to me "I don't like marketing, I know 20% of the expenditure is worth it but I don't know which 20%". Reality is that there are ways of knowing to a high degree of confidence, but you need to take a systematic approach to tracking it through marketing, pre-sales, sales etc. When you do know it's quite empowering, in the last business I could tell you the achieved ROI and projected ROI of any marketing campaign at the push of a button, but it wasn't easy getting to that capability, people are reluctant to capture the necessary data because they don't see the point. Link to comment Share on other sites More sharing options...
Isle Of Man LIVE Posted August 21, 2014 Author Share Posted August 21, 2014 The five or six desks in there were THREE GRAND each. Hyundai stipulated that they had to be of that spec. Never mind the new stock you had to commit to twice a year when the new plates were issued ... Link to comment Share on other sites More sharing options...
woolley Posted August 21, 2014 Share Posted August 21, 2014 ... it is quite difficult to know which parts of your marketing are working for you and which aren't. When the more difficult times began to hit, we just started to cut out what we believed were the more archaic and less effective aspects of our campaigns. We did it over about 2 years and it did not hurt us that much. So we cut a bit more. It is only with the benefit of hindsight that you look back and think you might have saved about quarter of a million there had you done the same thing earlier.... I have lost count of the number of FDs who have said to me "I don't like marketing, I know 20% of the expenditure is worth it but I don't know which 20%". Reality is that there are ways of knowing to a high degree of confidence, but you need to take a systematic approach to tracking it through marketing, pre-sales, sales etc. When you do know it's quite empowering, in the last business I could tell you the achieved ROI and projected ROI of any marketing campaign at the push of a button, but it wasn't easy getting to that capability, people are reluctant to capture the necessary data because they don't see the point. On top of which if things are going well and growing there is a natural momentum to keep doing things the same way in the belief that things will keep growing. And because they did, there was no reason to worry about it until the downturn when we took action. I am philosophical about it now. As I said, we do OK. Link to comment Share on other sites More sharing options...
Educa Posted August 21, 2014 Share Posted August 21, 2014 I think you'd find that the UK dealer would be in trouble with Hyundai if this was found to be the case. Manufacturers are very particular about having factory trained people dealing with you in all areas due to product liability legislation. I'm not saying that KM Motors don't know what they are doing, but they and the dealer could be in trouble if something should go wrong and it came out that your car had not been into the official dealers for warranty repairs! Maybe someone will take it on, it would have to be viable though. Audi for example do not see the island as a viable area for representation so do not list us as an open point. They do have Hyundai trained staff. We did buy the car off them though, so perhaps that's the reason. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.