BYJU’S rejigs its Direct-to-Consumer Sales Model
As a part of the revamped internal sales, BYJU’S sales associates will connect with potential customers through calls, emails and zoom meetings.
Edtech unicorn has revamped its sales model by scaling its internal sales teams in addition to its current outside sales (feet-on-the-street) model, aiming that it will deliver the triple benefits of more growth, and higher returns on marketing investment.
As a part of the revamped internal sales, BYJU’S sales associates will connect with potential customers through calls, emails and zoom meetings.
While inside sales have always been integral to BYJU’S sales efforts, the decision to make it the dominant sales route is a part of the data-driven strategy to elevate the learner onboarding mechanism based on BYJU’S strong brand visibility and deep customer trust, the company said in an official statement.
This change comes at a time when the edtech behemoth’s sales practices have been under the scanner. During the last few months media reports have hinted at unrealistic sales targets set for the startup’s sales team, and the unrelenting pressure face.
While the edtech sector saw rapid growth during the pandemic, it has been criticised for issues like aggressively selling issuing loans to candidates without providing them proper information about the EMIs and other details, to issues in cancellation and refund policies.
In July 2022, the government warned edtech companies against indulging in unfair trade practices, including misleading advertisements, and said it will be forced to bring stringent guidelines if there is no self regulation by the industry players.
In January 2022, the Internet and Mobile Association of India (IAMAI) announced the formation of India EdTech Consortium (IEC), a self-regulatory body to ensure code of conduct for its member edtech companies.
The members of the Consortium include BYJU’s, , , , Times Edutech & Events Ltd, Scalar, , , , , and .
Last valued at $22 billion, BYJU'S reported gross revenue of around Rs 10,000 crore in Financial Year 2022. The startup’s net loss widened to Rs 4588.75 crore for the fiscal year ending 31 March, 2021.
Edited by Akanksha Sarma