Indian education technology (edtech) platform Byju’s BYJU’S Founder and Chief Executive Officer (CEO) Byju Raveendran has taken a big bet to get the company out of the crisis. The company has made a big cut in the course fees to increase the revenue. Let us tell you that Think and Learn, the company that operates Byju’s, has reduced the course fees by 30-40 percent and has increased the sales incentive by 50-100 percent. Byju’s Founder and CEO Byju Raveendran has announced changes in its sales strategy to drive business expansion and flexibility in a meeting with 1,500 sales associates and managers.
Now available at a starting price of Rs 12,000
“The annual subscription to Byju’s Learning App is now available at a starting price of Rs 12,000 (including taxes), while Byju’s Classes and Byju’s Tuition Center (BTC) are priced at Rs 24,000 and Rs 24,000, respectively, for the entire year,” sources familiar with the development said. It is Rs 36,000.” He said that in this way the course fees have been reduced by about 30-40 percent. Raveendran, who is trying to overcome the financial crisis caused by a sharp decline in the valuation of the company, has also promised to increase the incentives of the team selling the courses and repay all their dues. “The average sales salary is Rs 40,000 per month,” Byju said. You sell some courses and you can withdraw the outstanding salary along with your salary. With this model you can earn several times your annual salary package.
Incentive will be sent directly to the account
He announced that Byju’s sales associates will get the entire incentive amount directly into their accounts the next day of sales, while managers will get 20 percent of it from the company. Byju’s has instructed managers to act as ‘coaches’, focusing on supporting and enabling the sales team. Byju has asked employees to report any misconduct, forced selling or rude behavior of managers directly to it. An email sent to Byju’s seeking comment on this development has not yet received any response.
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