Byju’s has announced change in sales strategy.
| Photo Credit: REUTERS

Edtech firm Think and Learn – owner of Byju’s brand – has slashed course subscription fees by 30-40% and hiked sales incentives by 50-100%, according to sources.

Byju’s Founder and CEO Byju Raveendran, who has started handling the company’s daily operations, in a meeting with 1,500 sales associates and managers, has announced change in sales strategy inclined towards scalability and flexibility.

“The annual subscription for the Byju’s Learning App is now available at a yearly early price of ₹12,000 (inclusive of taxes), while Byju’s classes and Byju’s Tuition Centres (BTC) are priced at ₹24,000 and ₹36,000, respectively, for a complete year of classes,” sources privy to the development said.

This is almost a 30-40% reduction in rates, they said.

Byju Raveendran has also promised to settle all dues of the sales team with higher incentives.

“The average sales salary is ₹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,” Byju said.

He announced that Byju’s sales associates will receive 100% incentives for the closed sales directly into their accounts the next working day, while managers will receive 20% of the same from the company.

“The average sales salary is ₹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,” Byju said.

He said the company has transitioned from a push-based to a pull-based sales model, which is driven by love for learning rather than the fear of missing out.

Byju has instructed managers to act as coaches, focused on supporting and enabling the sales team rather than enforcing strict call quotas.

“Associates will have the flexibility to work on their own terms, with no tracking of the number of hours spent on calls,” a company source said.

Byju’s has asked employees to report any ill treatment, forced sales or rude behaviour of managers directly to him.

A query sent to Byju’s seeking a comment on the development did not elicit any reply.

New Delhi:

Embattled edtech platform Byju’s has paid full salary for April to employees in all functions, except sales staff, even as the company faces a liquidity crisis.

According to IANS sources, the Edtech firm paid the full amount to employees on Friday after two months of partial payment.

Byju’s is yet to pay the remaining part of the salaries for February and March.

Salaries had earlier been delayed for both months, with only part of the payments being paid to employees later in the respective months.

As per the sources, the salaries were paid from revenue generated and debt raised by the founders earlier.

This comes after the Edtech firm rolled out a new policy linking sales employees’ salaries to the revenue they generate every week.

According to an internal company document, the new company policy is currently applicable to sales teams, including the Inside Sales (IS) and Byju’s Exam Prep (BEP) teams.

The new policy, which is applicable for four weeks till May 21, will ensure the disbursal of a percentage of the weekly revenue generated by sales staff, as per the document.

Last month, Byju’s began to lay off hundreds of employees amid a cash crunch. The company had said that they were in the final stages of a business restructuring exercise.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)