How do you sell a $30 bottle of vitamins?
For starters, never listen to the naysayers.
In 4 years, Kat has built a direct-to-consumer juggernaut, with $40.5m million in funding to date. She’s empowering women to take control of their health one day at a time and she’s doing it with cold hard facts.
So, who is Kat?
Her quote from Huffington Post says it all.
“I raised our first round of funding when I was four months pregnant with a vision of how I could change the entire industry,”
Not only is she an unequivocal badass, but she’s a seasoned leader.
Risking it all for a cause
As a Venture Partner with Troy Carter, Kat worked with over 70 high-profile startups like Uber, Spotify, DropBox, and Warby Parker.
But it was the D2C companies that caught her eye.
“I had seen a lot of companies disrupting big, traditionally slow-moving industries, from Warby Parker with eyeglasses to Casper with mattresses. These companies cut out the middlemen, focused on vertical integration and ended up creating better experiences and products for customers. I saw an opportunity to do the same with the vitamin industry.”
But when Kat pitched Ritual to VC firms — at 4 months pregnant — they were hesitant.
Kat tells Huffington Post:
“When I was raising money, some VCs were asking me questions like, “Do you think you will still work after you give birth?”
Some firms, on the other hand, were excited, recognizing Kat’s commitment to her company’s mission.
Now, put yourself in her shoes: At 4 months pregnant, you quit your steady job to start a vitamin company.
But for Kat, this wasn’t just any vitamin company. This was Ritual.
Selling a $30 bottle of vitamins
Consider this: A 250-count bottle of women’s vitamins on Amazon costs $13.40. Rituals sell a 60-count bottle for nearly double the price.
So how did Kat and her team sell over 1 million bottles?
1. The product is beautiful.
One look at a pill from Ritual and you’re intrigued.
The unique look is the result of a one-of-a-kind manufacturing process combining both water-soluble and oil-soluble vitamins in one daily pill.
As Kat says, “ Our manufacturer once said to us, ‘There is the way we do things, and the way we do things for Ritual.'”
2. It’s made for skeptics by skeptics.
Okay, that’s their tagline, but it was too good (and true) not to use.
Kat admits the product is beautiful and it’s instantly Instagrammable appearance has boosted its presence online, but she’s quick to point out the amount of work and research that went into formulating the vitamins.
Prior to founding Ritual, Kat partnered with a scientist with over 30 years experience and together they poured over 10,000 studies, interviewing dozens of women about their diet.
They identified the exact deficiencies in women’s’ diets and created a scientifically-backed formula to address them.
She tells Adweek, “It’s a health-focused product with the science to back it up.”
3. Ritual took a long-term approach.
While competitors focused on the immediate and superficial benefits of their products, Kat wanted to position Ritual as a part of a healthy lifestyle.
Ritual is, therefore, a lifestyle, not just a pill you take daily. Think of it as a dollar-a-day investment in your health. Who wouldn’t say that’s worth it?
The result is a cult-like following with rabid fans all across the internet.
Since 2015, Ritual has sold over 1 million bottles and raised a total of $40.5m. But more importantly to Kat, Ritual is helping thousands of women take control of their health.
Hungry for more growth tactics like these?
See Kat and 30+ other speakers share their learning and tactics at Hustle Con, December 2-3, 2019.