BENGALURU: Cash-strapped Byju’s has slashed its product prices by at least 30%. Sources said the annual subscription for the Byju’s Learning App is now available at yearly price of Rs 12,000, while Byju’s Classes and Byju’s Tuition Centres (BTC) are priced at Rs 24,000 and Rs 36,000, respectively, for a complete year.
This comes after the company’s founder Byju Raveendran took over daily operational responsibilities of Byju’s after nearly four years.
In a meeting with over 1,500 sales associates and managers, Raveendran announced a shift in the company’s sales strategy. As per sources, the firm has completed its transition from a push-based to a pull-based sales model. Managers will now 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, sources added.
“If you can get results by spending half an hour a day, please do that. Want to only work on the weekends? Why not?” Byju has told sales associates.
The edtech firm’s sales associates will receive 100% of the sales closed directly into their accounts the next working day, with managers receiving 20% of the same from the company. “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,” Raveendran told staff.
After clearing arrears, associates will receive 50% of sales closed, while managers will receive 10%. “I want you to understand what it means about the quality of our content and the power of our brand. So, your job is not to sell, but to counsel,” Raveendran said.