Leading edtech firm Think and Learn, the parent company of Byju's, has announced substantial cuts in course subscription fees along with significant increases in sales incentives.
The decision, revealed by sources within the company, comes as Byju's Founder and CEO, Byju Raveendran, takes a more hands-on approach in steering the company's daily operations.
Addressing a gathering of 1,500 sales associates and managers, Byju Raveendran outlined a revamped sales strategy focused on scalability and flexibility.
One of the key highlights of this strategy is the reduction in subscription fees, with the annual subscription for the Byju's Learning App now available at a discounted price of Rs 12,000, inclusive of taxes.
Similarly, Byju's classes and Byju's Tuition Centres (BTC) are now priced at Rs 24,000 and Rs 36,000 respectively for a full year of classes, marking a notable 30-40 per cent reduction in rates.
Furthermore, Byju Raveendran pledged to settle all outstanding dues of the sales team while introducing higher incentives to drive performance.
Sales associates stand to receive 100 per cent of their incentives for closed sales directly into their accounts the next working day, whereas managers will receive 20 per cent of the same from the company.
Emphasizing the earning potential for sales associates, Byju Raveendran stated, "The average sales salary is Rs 40,000 per month. So, close a couple of sales, and you can get not just your salary but also clear your arrears. You can earn many multiples of your CTC through this model."
In a significant shift, Byju's has transitioned from a push-based to a pull-based sales model, prioritizing a love for learning over the fear of missing out. Managers are now instructed to act as coaches, providing support and enabling the sales team rather than enforcing strict call quotas.
Byju's has also encouraged employees to report any instances of ill-treatment, forced sales, or rude behavior directly to Byju Raveendran.
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