BoilerJuice was founded by a group of friends in 2004 with the aim of making ordering heating oil easier, cheaper and more convenient. The website matches customer orders with supplier capacity in local areas, encouraging competitive prices. As a result, suppliers maximise volumes and optimise deliveries.
Building the best
Our investment is supporting BoilerJuice to do the following:
- Expand throughout the UK: Reaching more customers and delivering greater price competitiveness and reliability throughout the country by building the supply base
- Develop its technology: We have supported the build out of the Connected proposition which automatically orders heating oil for customers using smart technology installed in customer oil tanks
- Supplier network: Enabling suppliers to reach more customers through an online route to market at a lower cost to acquire and serve than they could via traditional direct routes.
The right tools for growth
We helped the business plan for a transformation of its technology infrastructure. The company’s IT roadmap set out a phased approach to moving much of its infrastructure into the cloud, giving more room for scaling up the business, and to implementing new data and analytics capabilities, to generate a much better understanding of customers.
We facilitated the hiring of a new chief executive to support founder transition and to assist in the development of the growth strategy. We have helped build out the senior team, appointing a Chairperson, a new Chief Financial Officer, a Chief Operating Officer, and a Chief Product and Technology Officer. The new C-suite has been integral in building out new products such as the Connected Proposition, building the supply base and enhancing the business model.
We helped to drive customer acquisition through greater understanding of customer lifetime value and improved efficiency in PPC activity. In the six months after our work BoilerJuice experienced an 83% year-on-year increase in new customers, and a local-focused customer acquisitions strategy boosted customer numbers by 50% in just two years.
