Boohoo PLC Customer Acquisition, Retention, Development and Management Report

MARK3114 – Customer Management

Boohoo PLC Customer Acquisition, Retention, Development and Management Report

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Andrew Hill

Organisation Summary

Organisation name	Boohoo PLC with a main focus on Boohoo.com as a fashion retailer catering for both men and women. “Boohoo” is used throughout to refer to Boohoo PLC.
Organisation’s web address	http://www.boohooplc.com/ https://www.boohoo.com/
Type of organisation (for example, profit or not-for-profit, local, national, global, and type of legal entity)	PLC. Listed on the AIM stock exchange. A leading online fashion retailer with a strong presence in the UK, Europe, Australia and the US. (Boohooplc.com, n.d.)
Size of organisation in terms of turnover and/or number of employees	Revenue: £856.9m (2019) > £579.8m (2018) (Boohooplc.com, n.d.). £43.8m gross profit (Gasgoine, 2019) Circa. 1848 Employees (Boohooplc.com, n.d.) . .
Range of products/services provided	Fast fashion and accessories at affordable prices for their target age range (men and women aged 16-40 years old (Boohooplc.com, n.d.))
Customer base, for example, B2C/B2B	B2C – Growing through a range of strategies including influencer marketing, content marketing, acquisitions and more/
The names of main competitors	Forever21 ASOS PrettyLittleThing (acquired) NastyGal (acquired) MissGuided (acquired) (Attest, 2017) New Look
Social media networking in terms of the level of social media presence	Very high across all social channels using influencer marketing and using social media engagement as a driver of growth for their online audiences and to increase their overall online presence.

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Introduction

  Boohoo is a leading, online fashion retailer catering for customers aged 16-40 years old (Boohooplc.com, n.d.) with eCommerce operations in nearly every country. Boohoo have driven sales and won new customers since 2006 by focusing on digital marketing (Mazour, 2017) and acquiring competitors (and their customers) (Armstrong, 2017). This report considers Boohoo’s customer acquisition, retention and relationship development tactics and considers how Boohoo can build a sustainable customer management strategy using the Kano and IDIC models.

Customer Acquisition, Retention and Development

  Focusing on fast-fashion, Boohoo release new products “within days… of trends being spotted” (Rigby, 2018) which suits Boohoo’s key customer segment who need convenience (Rajgopal, 2018; Goldman Sachs, n.d.), this is further highlighted in improvements to customer refunds; refunds are issued when returns are collected by courier, rather than received at distribution centres (Rigby, 2018) which improves customer satisfaction (Tavener, 2018) and encouraging loyalty (Rodriguez, 2018).

  Boohoo experienced a 43% growth in sales in 2017 after acquiring competitors PrettyLittleThing and NastyGal (Rigby, 2018), it enabled Boohoo to engage with new customers who shared similar values as Boohoo’s core customer base – this meant Boohoo didn’t need to deviate from their current marketing strategy to promote these brands. However, the Karen Millan acquisition introduces a new customer segment to Boohoo PLC; Karen Millan leans towards the luxury fashion market (Magnus et al) and could see Boohoo competing Hugo Boss, Ted Baker and other luxury fashion designers. Because Karen Millan is a higher value brand, it indicates Boohoo’s intention to develop strategies based on increased revenue instead of reduced costs (Ang & Buttle, 2009). This development allows Boohoo to attract higher-income earning customers whilst retaining their value customers (Kidd, n.d.). It serves as a good customer retention strategy too; acquiring competing brands prevents Boohoo’s customers defecting to them (Rigby, 2018).

  Boohoo uses influencer marketing to acquire customers in new markets (Rigby, 2018) across social media including Instagram, Facebook and YouTube (Appendix H). Influencer marketing increases trust and provides social proof to new followers of influencers (Balkhi, 2019) promoting Boohoo’s brands. They also leverage audiences from content publishers through affiliate marketing (Boohooplc.com, n.d.). As more publishers and influencers promote the brand, the ‘buzz’ gets louder and more influencers promote Boohoo to leverage short-term virality (Bowles, n.d.) – choosing viral influencers are likely to be the most efficient method of acquiring new customers, not just because of their own social presence but because of the influence they have over other influencers (He, Liu and Xiong, 2016; Lawrence, 2016).

  Similarly, Boohoo uses student ambassadors (Appendix B) to tap into student circles online, whilst on campus or socialising. These ‘micro–influencers’ promote connectedness with the brand because Boohoo sends products for them to use/promote. Micro–influencers have been growing in popularity since reports of poor ethics amongst larger influencers (Brookes, 2019), including misleading advertising and little regard for CSR damaging the reputation of advertisers (Stokel-Walker, 2019; Faull, 2019).

  Boohoo use affiliate marketers in a similar way (Boohoo.com, n.d.); publishers apply to join the affiliate scheme and, once approved, create articles, videos and other content promoting brands to their audiences. The content promotes Boohoo’s products via links that track users purchases through the use of cookies (Bonjour, Blogger!, n.d.) and publishers earn a commission from purchases (Boohoo.com, n.d.) made until the tracking-cookie expires. Affiliate marketing, like Influencer Marketing and Student Ambassadors, is primarily used for new customer acquisition (Enfroy, 2019).

  By favouring a low-cost/high-volume sales strategy, they attract and retain customers from all income levels with more than 23% of products sold for less than £9.99 (Gasgoine, 2019), double the relative amount listed by Asos for the same price (McHale, 2019) though this could be due to increasing prices as ASOS attempt to stem the fall in earnings each quarter (Eley, 2019) led by customer returns (indicating less satisfied customers) (Imms, 2019) whilst using higher-value brand acquisitions to cater to those with luxury preferences (Rogers, 2019).

  Boohoo regularly introduce new product lines (Appendix C) leading trends and positioning themselves as market leaders – this has further benefits of reducing the overall costs of sales by improving economies of scale (The Economist, 2008) through the purchasing power their size grants them (OECD, n.d.; Hayes, 2019).

  Boohoo lead with high-value offers using carousels on their homepage featuring bold creatives displaying seasonal promotions (Appendix G) demonstrating immediate value to customers encouraging visitors to accept push notifications (Gilliland, 2019) which allows Boohoo to increase exposure even when customers aren’t actively engaged.

Boohoo use email marketing (Appendix A) to repeatedly reintroduce customers to the brand – drip marketing is a powerful customer retention tool by keeping customers engaged with the brand (Stych, 2015) increasing loyalty by building rapport (Gamble, 2018). Boohoo’s emails feature eye-catching above the fold graphics showing consistency with their website and leading with high-value offers allowing recipients to form their own opinions as to what’s on offer encouraging click-throughs.

Another tactic used is cross-selling (Appendix E) to increase purchase propensity (Bernazzani, 2019) and ‘Buy Now, Pay Later’ (Appendix F) which incites customers to purchase more by disassociating the product cost from the credit availability (O’Brien, 2014; Andreeva, Ansell and Crook, 2017) and therefore reducing buyer remorse minimising the likelihood of returns (Hope, 2018).

  Offering site-specific credit facilities increases customer commitment; as customers make repayments, they have a lower cash budget to purchase, increasing the likelihood of them accepting more credit (Robertson, 2019) which has a positive impact on sales. As customers make regular repayments, their credit limit is likely to increase (Henson, 2018) allowing customers to purchase even more (Robertson, 2019).

Sustainable Customer Management

  Boohoo can use the IDIC model to understand who their customers are and design a product development strategy to nurture high-value relationships. The success of their product strategy is supported by a Kano model measuring customer satisfaction relative to product development. By using the IDIC and Kano models together, Boohoo can design a sustainable customer management strategy.

IDIC Model (Appendix I)

  The IDIC Model (Peppers & Rogers, 2004) can be used to understand customer expectations and their value (Eko, 2014) allowing organisations to commit resources to high-value relationships and terminate low-value relationships. The model allows Boohoo to build sustainable customer management strategies offering further value to potential and existing customers (Martin, 2015).

  Boohoo identify customers in several ways (Appendix O); through social media engagement and website analytics (Appendix L), email newsletter signups (Appendix K) and purchase data (Appendix M), etc.

  Once identified, Boohoo can differentiate their customers into groups determined by specific characteristics (Peppers & Rogers, 2004) including identity (such age, personal description and occupation), contact data (email lists, loyalty scheme membership and identified social media IDs), transactional data (purchase history, amount spent, purchase frequency, etc), profile data (survey responses, style interests, reviews, etc) and others (Appendix O).

  When differentiated, Boohoo develops interactions with customers through communication strategies tailored to each customer group and provide an organised front-end for visitors relevant to their wants and needs (Hanlon, 2015). Once identified, customer account management becomes easier, enabling customers to manage their own payment and address details, communication preferences and track orders increasing timeliness (Hanlon, 2015) and freeing up customer service agents to complete other tasks (Orr, 2019).

  Boohoo will learn how to exceed the expectations (entering the performance threshold (Appendix J)) of customer-groups and develop mass customisation (Peppers & Rogers, 2004) of services and products to meet these excitement needs. Customisation may take place in the design of content relative to each social media platform (Appendix P), gender-specific email newsletters (promoting men‘s fashion to men, women‘s fashion to women), better loyalty reward bonuses, member exclusive promotions, etc. In customising their services, they will encourage brand loyalty and promote long-term relationships.

  By undertaking the above analysis and action, Boohoo serve to create mutual benefit, to themselves in the way of increased loyalty and therefore sales (Ahearn, 2018) and their customers by making them feel valued.

By using the IDIC methodology, Boohoo can strengthen its high-value relationships and identify unprofitable relationships, targeting their strategy to attract high-value customer profiles (Martin, 2015).

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Kano Model (Appendix J)

  Kano Model measures product development and satisfaction, allowing Boohoo to analyse their customers want and needs (Hanlon, 2015) to the expectations of the high-value customers identified using the IDIC model. It considers the different levels of customer satisfaction and what’s required by customer groups to meet each threshold and is used by organisations to understand the “voice of the customer” (Kano, n.d.). Boohoo may attribute each threshold as;

Expected Needs (Threshold Attributes – bare minimum):

Normal Needs (Performance Attributes – customer wants):

Exciting Needs (Excitement Attributes – exceeding customer expectation of normal needs):

By using the Kano model, Boohoo can exceed the customer expectations increasing loyalty (Patterson, 1993) and frequency of sales (Cronin & Morris, 1989) and therefore having a positive impact on customer lifetime value (The Daily Egg, 2019).

Conclusion

  Boohoo has a strong focus on digital marketing (Mazour, 2017) which allows them to identify customers across platforms and, by using the IDIC and Kano model, Boohoo can develop strategies that acquire and retain new customers and nurture those relationships to create long-lasting positive impacts on customer lifetime value. The strategies they develop will encompass all areas of digital marketing, from the customer journey and the influencers, ambassadors, advertisers and publishers they choose to work with.

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Appendix

Appendix A: Boohoo email marketing campaign

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Appendix B: Student Ambassadors

Source: Twitter: https://twitter.com/boohoo/status/872392702146469888

Appendix C: Boohoo New-In

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Source: Product listing on Boohoo.com – 9^th December 2019

Appendix D: Boohoo Collections

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Source: Product listing on Boohoo.com – 9^th December 2019

Appendix E: Cross-Sell

Source: Product listing on Boohoo.com – 9^th December 2019

Appendix F: Payment options

Source: Product listing on Boohoo.com

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Appendix G: Hero Carousel

Source: Screenshot from Boohoo.com – 9^th December 2019

Appendix H: Influencers

Source: Instagram https://www.instagram.com/p/B5ggBRql2q6/

Source: YouTube https://www.youtube.com/watch?v=-5xmzzG2yqI

Appendix I: IDIC Model

Source: Peppers & Rogers (2004): Managing customer relationships

Appendix J: Kano Model

Source: Mindtools https://www.mindtools.com/pages/article/newCT_97.htm

Expected Needs (Threshold Attributes – bare minimum):

Normal Needs (Performance Attributes – customer wants):

Exciting Needs (Excitement Attributes – exceeding customer expectation of normal needs):

Appendix K: Boohoo Email Signup

Source: Boohoo.com homepage (10^th December, 2019)

Appendix L: Boohoo Analytics

Source: (Chrome-Extension) Facebook Pixel Helper – Boohoo.com (10^th December, 2019)

Source: view-source:https://www.boohoo.com/ – Highlights user tracking metrics, interests, etc associating them to a Cookie (note: CQuotient.getCQCookieId, Cquotient.getCQUserId, cqParamData.product, etc)

Appendix M: Product Order Form

Source: https://www.boohoo.com/shipping

Appendix N: Delivery Options

Appendix O: Extracts from Boohoo.com Privacy Policy

Source: https://www.boohoo.com/page/privacy-notice.html

Appendix P: Social Platforms

Source: https://www.facebook.com/boohoo.com/

Source: https://www.youtube.com/user/boohooclothing/feed?activity_view=1

Source: https://twitter.com/boohoo

Appendix Q: Returns Options

Appendix R: Customised offer for students

Source: https://www.boohoo.com/page/students.html

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