Baymak has climbed up the Fortune 500 list even further, continuing its performance as one of the fastest-rising companies in this prestigious list. Since first appearing on the list in 2015, this Turkish brand has moved higher each year, rising 60 spots over the last five years and 20 in 2019 alone. The latest list was published in the July issue of Fortune magazine.
So what is the secret of Baymak’s success?
The company increased its market share in 2019, growing in various product groups even as the Turkish HVAC sector contracted considerably, thanks to its long-standing experience in the industry, technology-focused growth strategy, vast dealer and installer network, and – crucially - its customer centricity.
With a track record dating back more than 50 years, Baymak stands out even among Turkey's well-established HVAC companies. Baymak joined BDR Thermea Group in 2013, initiating a period of ambitious ascent by blending its manufacturing capabilities with the Group's technological know-how. Baymak’s top priority now is to deliver an impeccable customer experience that helps further enhance its close ties with consumers. Its innovative steps in marketing and operations are the clearest indicators of this vision.
Agile and sustainable
In its latest ad campaigns, Baymak has started to feature ‘Bayki the squirrel’ in its logo. This much-loved animal figure further enhances customers' warm ties to the company, while also acting as a metaphor that helps raise awareness of climate change and sustainability.
Squirrels are animals that many people feel warmly towards, and they are highly agile and energetic. Remote video technical support and other applications Baymak has launched during the coronavirus pandemic mark it out as an innovative, agile and highly adaptable company that takes customer experience to the next level.
The similarities go further. Across the world, millions of trees spring up from seeds that squirrels hide in the soil and then forget about. By burying a variety of nuts in the ground, squirrels help preserve plant diversity and ensure sustainability in nature. For Baymak, which places sustainability at the core of its vision, the squirrel thus symbolises the brand's eco-friendly nature. What’s more, the squirrel's energy and dynamism are in Baymak's genes.
Considering all this, it is no coincidence that Baymak has shot up 60 places in the Fortune 500 over the past five years. Multiple elements underlie this achievement, with the most critical being the human factor, says Baymak CEO Ender Çolak.
“The primary mission of the Baymak brand is to touch people. This challenging period has helped us understand even better why this matters. For years, Baymak has conveyed the message 'We are here to understand you' in our ads and campaigns. Today we fully understand the phase we are going through and customers’ expectations under these new circumstances.”
Still, it’s not ‘just’ about customers. “The biggest challenge facing companies of the future is to correctly comprehend developments around them, and devise solutions accordingly. At the same time, they need to forge unbreakable trust-based bonds with employees, dealers, installers and other sales channels,” Ender explains.
“We have been investing in this for many years, and we’re now reaping the fruits of those efforts. As we always emphasise, this achievement really belongs to all the Baymak employees, dealers, service technicians and business partners who share our vision and consider it their responsibility to contribute.”