Edtech company Think and Learn, the parent company of the renowned Byju’s brand, has recently made significant changes to its course subscription fees and sales incentives, as per the reports.
Byju’s Founder and CEO Byju Raveendran, who has taken on a more hands-on role in the company’s day-to-day operations, unveiled a new sales strategy during a meeting with 1,500 sales associates and managers. The revised strategy is geared towards enhancing scalability and flexibility within the organisation.
Sources familiar with the matter disclosed that the annual subscription for the Byju’s Learning App is now priced at a discounted rate of Rs 12,000 per year, including taxes. Additionally, Byju’s classes and Byju’s Tuition Centres (BTC) are now available for Rs 24,000 and Rs 36,000, respectively, for a full year of classes. This marks a substantial 30-40 percent reduction in prices, according to the reports.
Raveendran also decided to address all pending dues of the sales team by offering increased incentives. As per the reports, the sales incentives will be hiked by 50-100 percent.
He emphasised the potential for sales associates to earn significant bonuses, stating, “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.”
Under the new system, Byju’s sales associates will receive 100 per cent incentives for closed sales directly into their accounts on the following working day, while managers will receive 20 per cent of the same from the company.
Byju has encouraged employees to report any instances of mistreatment, forced sales, or discourteous behaviour by managers directly to him. However, Byju’s is yet to confirm all the insider details.
(with inputs from PTI)
