Ludhiana/Jalandhar/Chandigarh, May 10, 2024 (News Team):
In a candid meeting with over 1,500 sales associates and managers, BYJU'S founder Byju Raveendran unveiled a groundbreaking shift in the company's sales strategy, emphasizing a sustainable and scalable model that empowers its sales workforce while making quality education more accessible than ever before.
Here are the highlights.
Transitioning to a Pull-Based Approach
BYJU'S has completed its transition from a push-based to a pull-based sales model, which is driven by love for learning rather than the fear of missing out. 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. “If you can get results by spending just half an hour a day, please do that. Want to only work on the weekends? Why not?” Byju said, encouraging a results-driven approach.
Unprecedented Price Reductions
In a bold move to democratize education, BYJU'S has significantly reduced the prices of its products. The annual subscription for the BYJU'S Learning App is now available at an unbeatable yearly price of INR 12,000 (inclusive of taxes), while BYJU'S Classes and BYJU'S Tuition Centres (BTC) are priced at INR 24,000 and INR 36,000 respectively for a complete year of classes.
Unprecedented Earning Potential for Sales Associates
In a game-changing move, BYJU'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 INR 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.
After clearing arrears, associates will receive 50% of sales closed, while managers will receive 10%. Byju emphasized that this “four-week experiment” has the potential to become a “forever model,” citing the exceptional response during the first week, with some sales team members already clocking salaries commensurate with a 50 lakh per annum CTC.
Counselling, Not Selling
As the top of the funnel has been ever growing, with the number of free users touching 250 million, there is no dearth of interest in the products and services. The sales associates are encouraged to experience the products themselves to understand their unparalleled quality and market-leading position. “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. You just have to guide the students and parents who are already inclined towards the transformative learning that BYJU'S offers. You are not salespeople; you are education counsellors, empowering students to become better learners” Byju said.
In the new model, managers will have a role of a mentor and not of task masters. Employees are encouraged to report any ill-treatment, forced-sales or rude behaviour of managers directly to Byju. This will bring about a cultural shift in the minds of the sales teams.
Sustainable and Scalable Growth
The CEO highlighted the sustainable and scalable nature of this sales model, inviting associates to expand their teams by inviting friends to sell and act as their managers. He envisioned a 50,000-strong sales force within the next year, demonstrating BYJU'S ambition and commitment to growth.
Open to Innovation
In a display of openness and collaboration, Byju invited associates to share innovative ideas directly with him, promising his full support and reiterating his commitment to restoring BYJU'S to its former glory. He said that BYJU'S of 2024 is the same as BYJU'S of 2015, when the company launched its learning app and pioneered Edtech and redefined Education globally . With the ongoing implementation of BYJU’S 3.0, there is no doubt that the company will not just maintain its leadership position but also improve it in the coming years, the CEO asserted.
In a candid meeting with over 1,500 sales associates and managers, BYJU'S founder Byju Raveendran unveiled a groundbreaking shift in the company's sales strategy, emphasizing a sustainable and scalable model that empowers its sales workforce while making quality education more accessible than ever before.
Here are the highlights.
Transitioning to a Pull-Based Approach
BYJU'S has completed its transition from a push-based to a pull-based sales model, which is driven by love for learning rather than the fear of missing out. 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. “If you can get results by spending just half an hour a day, please do that. Want to only work on the weekends? Why not?” Byju said, encouraging a results-driven approach.
Unprecedented Price Reductions
In a bold move to democratize education, BYJU'S has significantly reduced the prices of its products. The annual subscription for the BYJU'S Learning App is now available at an unbeatable yearly price of INR 12,000 (inclusive of taxes), while BYJU'S Classes and BYJU'S Tuition Centres (BTC) are priced at INR 24,000 and INR 36,000 respectively for a complete year of classes.
Unprecedented Earning Potential for Sales Associates
In a game-changing move, BYJU'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 INR 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.
After clearing arrears, associates will receive 50% of sales closed, while managers will receive 10%. Byju emphasized that this “four-week experiment” has the potential to become a “forever model,” citing the exceptional response during the first week, with some sales team members already clocking salaries commensurate with a 50 lakh per annum CTC.
Counselling, Not Selling
As the top of the funnel has been ever growing, with the number of free users touching 250 million, there is no dearth of interest in the products and services. The sales associates are encouraged to experience the products themselves to understand their unparalleled quality and market-leading position. “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. You just have to guide the students and parents who are already inclined towards the transformative learning that BYJU'S offers. You are not salespeople; you are education counsellors, empowering students to become better learners” Byju said.
In the new model, managers will have a role of a mentor and not of task masters. Employees are encouraged to report any ill-treatment, forced-sales or rude behaviour of managers directly to Byju. This will bring about a cultural shift in the minds of the sales teams.
Sustainable and Scalable Growth
The CEO highlighted the sustainable and scalable nature of this sales model, inviting associates to expand their teams by inviting friends to sell and act as their managers. He envisioned a 50,000-strong sales force within the next year, demonstrating BYJU'S ambition and commitment to growth.
Open to Innovation
In a display of openness and collaboration, Byju invited associates to share innovative ideas directly with him, promising his full support and reiterating his commitment to restoring BYJU'S to its former glory. He said that BYJU'S of 2024 is the same as BYJU'S of 2015, when the company launched its learning app and pioneered Edtech and redefined Education globally . With the ongoing implementation of BYJU’S 3.0, there is no doubt that the company will not just maintain its leadership position but also improve it in the coming years, the CEO asserted.