EP 579: Organifi Hits $25M 2016 Sales, 150k Customers, Indian Sourced Ashwagandha is Million Dollar Ingredient with CEO Drew Canole

Drew Canole. He's a nutrition specialist, transformation specialist, and national spokesperson for the benefits of juicing vegetables for health and vitality. He is the founder of Fitlife.TV where he shares educational, inspirational, and entertaining videos and articles about health, fitness, healing, and longevity. More recently, his company, Organifi, is getting directly into the green juicing space with a physical product.

Famous Five:

• Favorite Book? – Think and Grow Rich
• What CEO do you follow? – Elon Musk
• Favorite online tool? — Google Calendar
• Do you get 8 hours of sleep?— Yes
• If you could let your 20-year old self, know one thing, what would it be? – "To stay fricking focused on one thing"

Time Stamped Show Notes:

• 01:30 – Nathan introduces Drew to the show
• 02:25 – Organifi is sourced from the best farms for their organic ingredients
• • 02:34 – The ingredients are high quality, organic, non-GMO, soy free, and vegan
  • 02:43 – Drew did clinical studies on their product and has sold over a quarter million bottles
• 03:20 – Drew started getting his audience from Youtube and Facebook, 6 years ago
• • 03:33 – "Influence marketing has been our focus for the past 3 years"
  • 03:48 – Drew has one of the largest, green juice followings online
  • 03:56 – Drew started working on a their own concoction by looking at the gap in the green juice market
  • 04:35 – The green juice that is available in the market is not good for the brain and body
  • 04:56 – Drew recreated the world's most great tasting juice that helps mental cognition, weight loss, and boosts moods
• 05:14 – Organifi was launched in early 2015
• 05:44 – Organifi sold around 350K bottles
• • 05:55 – Around 150K people bought the product
• 06:00 – Average reorder rate is 2.8
• 06:17 – Organifi's main product is a 30-day canister
• 06:55 – Organifi costs $79.95 on Amazon
• • 07:08 – 20% of the sales is from Amazon and 80% is from other traffic
  • 07:15 – 65% is from Organifi's website
• 08:00 – The cost of making Organifi
• 09:07 – "We're all about congruency"
• 09:25 – The most important ingredient of Organifi is the Ashwagandha
• • 09:40 – Drew is importing Ashwagandha from an organic farm in India
  • 10:18 – KSM Ashwagandha is the farm Drew chose
  • 10:35 – Organifi's formulator is the one who visits India to check the farm and the farmers
• 11:25 – Gross margin is around 75%
• 11:45 – Marketing cost
• 12:25 – Software that Organifi is using
• • 12:37 – Unbounce, Infusionsoft, Exit Intel, and Shopify
• 13:02 – Organifi has a subscription model
• • 13:20 – The subscription has a 15-75% discount
  • 13:40 – The subscription cost
• 14:43 – Organifi's 2015 revenue
• 15:15 – Net margin is around 15-20%
• • 15:40 – Drew's influence benefits their net margin
• 17:04 – What Drew is doing with his wealth
• 17:07 – Organifi has no investors
• 17:34 – Total list size is around 1.4M
• • 17:45 – Actively opening is 500K
• 18:15 – Team size is 70
• 18:45 – 2017 revenue goal
• 20:04 – Cost of affiliates
• 22:10 – The Famous Five

3 Key Points:

• Influence marketing is one way not just to increase your online presence, but also sales.
• A thorough study and being well researched is crucial in order to fill a gap in a field that is quite saturated.
• Stay congruent with your plans and actions.

Resources Mentioned:

• Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
• Drip – Nathan uses Drip's email automation platform and visual campaign builder to build his sales funnel
• Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn't have to hire a co-founder due to the quality of Toptal
• Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
• Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
• The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Jamf – Jamf helped Nathan keep his Macbook Air 11" secure even when he left it in the airplane's back seat pocket
• Freshbooks – Nathan doesn't waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives