In the hustle of our mid-twenties, my co-founder Akash and I were deep into the world of plant-based businesses. We shared a vision yet found ourselves tangled in competition while struggling with the scarcity of resources. We were typical newbie founders with no corporate know-how, just big dreams. One day, over a chat about our challenges, we thought, “Why not team up instead of fight it out?” So, we merged our ventures, and that’s how PLIX was born.
This is our story – two guys, one mission, and the unexpected path to success in the startup rollercoaster. Starting with minimal capital, we bootstrapped a venture that now boasts an impressive ARR (Annual Recurring Revenue) of over 150 Crores, catching the eye of industry giant Marico and leading to a significant partnership. Through this article, I would like to share some glimpses of our phenomenal journey nurtured by massive customer love and strong digital presence.
Discovering PMF in Plant-Based Fitness Solution
In the initial stages of PLIX, Akash and I delved into the world of plant-based businesses, focusing on a hero SKU – a plant-based protein. While the business showed promise with good cash flow and strong repeat customers, we faced a challenge in achieving scale. Our focus on solving real customer problems led us to a big weight management issue—many people had the problem, but not many liked the solutions. Take apple cider vinegar, for example; many folks were averse to drinking it even though it was considered an effective weight loss solution.
The breakthrough happened when we turned that unpalatable liquid into a tasty effervescence tablet, creating what we now know as PLIX. This kickstarted our journey, aiming to make traditional ingredients both enjoyable and affordable.
We adapted our products from Ashwagandha masala sodas to fizzy caffeine effervescence for people who care about weight management and beauty.
This move not only met customer needs but also established our Product-Market Fit (PMF), setting the stage for PLIX’s impressive growth.
Nailing the Target Demographics
As our journey unfolded, it suddenly struck us that our target audience was the millennials aged between 20-45. People step into their professional lives and aim to look and feel their best. That was our aha moment! We identified weight management and beauty as the two focal points for this demographic, understanding that those seeking to shed pounds often yearned to enhance their appearance as well. This insight prompted us to craft a product portfolio addressing these key personas. Whether a female customer purchased weight management Apple Cider Vinegar (ACV) or a glowy skin product, we aimed to provide a comprehensive solution for their health and beauty needs. This carefully curated journey allowed us to boost customers’ confidence in the brand, paving the way for effective upselling and cross-selling of various products tailored to their evolving preferences.
BTS of Brewing The Star Product
ACV stands as the linchpin in our product lineup, strategically anchoring long-term customer relationships. Unlike an instant catapult to success, launching ACV involved meticulous strategic work. We quickly recognized the significance of Average Order Value (AOV). So, we introduced packs of four ACVs on our website at a discounted rate compared to individual SKUs priced at 350 rupees. This deliberate approach prioritizes extended product use and health benefits over quick conversions, establishing ACV as the gateway to our diverse product line. Functioning as the recruiter, it draws people into the PLIX ecosystem, boasting the best Product-Market Fit (PMF) and capturing customer love and attention. The overarching focus was always on customer retention, fostering sustained commitment to their health journey beyond one-time purchases.
Curating the Engagement Mixtape
Our engagement strategy focuses on the longer journey, utilizing content in three categories: transactional, educational, and revenue-focused. The transactional part covers basics like product delivery, while education begins after seven days of product use. We provide informative content, emphasizing brand expertise and customer testimonials and showcasing product benefits. Social proof, particularly user-generated content (UGC), becomes powerful during this phase. Following this informative period, we transition to revenue-focused content, introducing upselling opportunities within the 30-day journey. Each product, including ACV or Slim Shake, has its unique, tailored journey addressing specific concerns. This ensures a personalized and effective approach.
Solving Each Wellness Quest Distinctly
We take a meticulous approach to shaping customer journeys, customizing each path based on the specific products individuals choose to acquire. For instance, a customer acquiring Apple Cider Vinegar (ACV) embarks on a distinct journey, encountering personalized communications that align with their weight management goals. On the other hand, a consumer opting for Garcinia Cambogia, another product in our line-up, follows a slightly modified trajectory, emphasizing the unique benefits of this particular offering. While the overarching ethos remains consistent, the communication nuances shift to address the distinct challenges each product solves. This strategy ensures that our engagement remains relevant and resonant, allowing customers to connect with the personalized experiences of others who have succeeded in their health and wellness journey. Through this tailored approach, we foster a sense of credibility and relatability, turning each customer into a unique success story.
Awakening to Retention and Decoding ROAS
The delay in recognizing the importance of early retention efforts was a significant oversight, costing us potential opportunities for improved ROAS and better retention metrics. The integration of a robust retention team became pivotal in reshaping our approach. With a team of four retention warriors, 25 content marketers, and vast WhatsApp groups facilitating high-touch communication, we now prioritize personalization and ensure the team stays attuned to what resonates with our audience.
This liaison between retention and content teams ensures a seamless flow of information, aligning with our emphasis on personalized and impactful content. Daily tracking of ROAS, even within retention, underscores our commitment to a math-centric approach, where every effort is optimized for profitable unit economics.
Embracing a Data-Driven Journey
For us, data and math serve as the bedrock of our decision-making process. We firmly believe that success hinges on a deep understanding of the numbers. Whether it’s customer service, marketing, or any facet of our operations, we delve into the metrics, analyzing touchpoints, queries, and more. Our approach is binary, a zero-to-one perspective where clarity on unit economics is paramount. I have a Marwadi Baniya mentality—every rupee invested should yield more. This mindset guided me even when considering capital deployment. Unlike the prevailing wisdom, we’ve been cautious about celebrity endorsements and brand building, focusing instead on tangible ROAS. In the D2C market, survival demands an acute sense of your numbers, and at PLIX, it’s a philosophy that continues to fuel our growth.
Starting the Second Innings with Marico
With Marico as our partner, Plix is gearing up for exciting transformations in the plant-based domain. This collaboration opens up new avenues for research and development, leveraging Marico’s rich experience. We now have the opportunity to reach a wider audience by tapping into Marico’s extensive distribution network and market insights. Integrating AI into our operations is a game-changer, enabling us to make informed decisions, offer personalized experiences to our customers, and explore innovative product developments. Through our partnership with Marico, we aim to further strengthen these capabilities, fostering innovation and scalability in the rapidly evolving landscape of wellness products. This partnership signifies a pivotal moment for Plix as we continue to make plant-based wellness more accessible and groundbreaking.
Conclusion
As I conclude the remarkable journey of PLIX, here are some essential lessons I want to share with budding wellness entrepreneurs: Kickstart retention efforts pronto, forge a powerhouse team, champion personalization, keep the info flowing seamlessly, track metrics daily, and embrace data wisdom. These nuggets are your compass in the wellness domain, paving the way for triumph and continual growth in the plant-based business journey.
Author
Rishubh Satiya, CEO and Co-Founder at Plix
