Birevim A.S. - Inbound Marketing Program of the Year
Company: Birevim A.S., Istanbul, Turkey
Company Description: Birevim was established in 2016 and it serves financial supports to people, who want to have their own real estate and car. By the first time in the world, people can buy house with a 240-month installment without paying any extra expenditure. Birevim has 25 branches in Turkey and 350 employees work for it. Birevim has already received the Gold Quality Award by B.I.D.
Nomination Category: Sales Awards Achievement Categories
Nomination Sub Category: Inbound Marketing Program of the Year
Nomination Title: Birevim A.S.
Tell the story about your organization's inbound marketing program since the beginning of July 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
One does not normally think of an inbound marketing team as forging sales success for financial services institutions.
Yet Birevim has dispelled this assumption in Turkey.
Meaning roughly “A Home of My Own,” Birevim has broken all sales records for a new financing company for large purchases (home-land-auto) in Turkey. Formed in mid-2016, Birevim’s unique sales proposition surged into popularity, not so much because of any fancy advertising campaigns, but largely due to its novel sales approach. This spurred massive word of mouth marketing that caused Birevim to increase its staff by more than 1000% in just the first year of operation.
Birevim’s financing model whereby customers only pay a nominal 7% commission based of the value of the home or land or car to be purchased has proven to be wildly popular with its customers, is the underpinning of its distinction.
Instead paying up to twice the value of their home in traditional mortgage interest over just 10 years, Birevim’s model of a small upfront one-time commission and payment duration of up to 20 years is extremely attractive to the low to medium income market segment.
At the same time Birevim was formed, Turkey in 2016 suffered disruption of “business as usual” by geopolitical chaos and terrorism.
Still, with 60% of Turkey’s population unable to qualify for a home mortgage at any bank, the team at Birevim embarked on introducing the most dynamic customer service model Turkey has ever seen in the financial services sector.
Consumer trust in financial institutions was at an all-time low. Birevim’s revolutionary sales model was highly appealing. They knew that personal interactions, speaking the same language as their prospects would instill consumer trust.
No more the slick, high pressured sales tactics for which the banks were known. Rather, Birevim used the hospitable Turkish approach this segment knew so well: treating all prospects as they would guests in their homes.
Finding qualified prospects was the key to success.
That’s where the inbound marketing team came in.
PROMOTION: At the outset, Birevim launched a targeted social media campaign to generate qualified leads, banking on the fact that 90% of all Turks have mobile telephones and actively use social media.
INBOUND MARKETING: The inbound team managed the critically important step to analyze, filter and sort the leads geographically and demographically. Within days, the leads were routed to the appropriate branches and handled by branch officers who were trained to use their own personal sales styles to generate trust and rapport.
MARKETING INNOVATIONS: Building on Turkish cultural values in line with the socio-economic targets of this novel financing program, Birevim’s marketing team conceived several innovative ways to build attract prospects to their offices:
FACE-TO-FACE WITH THE FAMILY: Families were encouraged to visit nearby branches to tailor their own mortgages: to understand alternative plans, choose their preferred plans, amount to be financed, monthly payment amount, loan duration that would work for them best.
SOCIAL GATHERINGS: Breakfast and dinner events – ever so popular in Turkey - were planned in which families could gather with customer service and sales teams for friendly conversations about making their dreams of home ownership come true.
WORD OF MOUTH: Building on the success of these personal interactions, as sales increased, happy customers were only too pleased to participate in referral programs and earn Turkish gold coins as ‘thank you’s’ for their roles as ‘brand ambassadors.’
REFERRAL PROGRAM: As Birevim’s customer roster grew, the sales team formulated a referral program in which new customers referred their extended families, neighbors and friends and were awarded popular Turkish gold coins in appreciation.
See the attached full-text of the entry for the results of the work and a bullet list of achievements in 2016-17.