According to sources, Edtech company Think and Learn, which owns the well-known Byju's brand, recently announced major adjustments to its course subscription fees and sales incentives.
Byju's Founder and CEO, Byju Raveendran, who has taken a more hands-on role in the company's day-to-day operations, announced a new sales strategy during a meeting with 1,500 sales associates and managers. The redesigned strategy aims to improve the organization's scalability and flexibility.
According to sources acquainted with the case, the annual subscription fee for Byju's Learning App has been reduced to Rs 12,000 per year, including taxes. Furthermore, Byju's courses and Tuition Centers (BTC) are now accessible for Rs 24,000 and Rs 36,000, respectively, for a complete year of classes. According to the sources, this represents a considerable 30-40% price drop.
Raveendran also chose to address any outstanding sales team payments by offering greater incentives. According to the rumors, sales incentives will be increased by 50-100 percent.
He emphasized the opportunity for sales staff to earn substantial bonuses, noting, "The typical sales salary is Rs 40,000 per month. So, if you close a few sales, you will not only receive your pay but will also be able to settle your arrears. You can earn many times your CTC using this strategy."
Under the new approach, Byju's sales associates will receive 100% incentives for closed sales immediately into their accounts the next working day, while supervisors will receive 20% of the same from the company.
Byju has encouraged staff to report any instances of maltreatment, forced sales, or disrespectful behavior by supervisors directly to him. However, Byju's has yet to corroborate all the insider information.
