Reality of Byju's

 Byju's is not an EdTech company! Weird? 18 Billion-Dollar company which is called the biggest ed-tech company in the world is actually not an ed-etch company. Is Byju's a scam?

In India, on average, an urban family for their child's education up to 12th spends around 15-20 Lakhs. To say, In today's internet world any person can learn anything new in very little amount so the question is, why so much money is spent on a child's education? Well, there is a very big reason today's tech companies compile people to spend out of their pocket on education so why do companies do? that our parents give all their savings to these companies. Byju's is actually a marketing company!

Byjue's did a Rs 1306 crore operation profit which in 202 increased to Rs 2381 crore, now when you look at the marketing spend 2019 it spends around 459 crores which in 2020 increased to Rs 1176Cr. But their major revenue does not come from this marketing is just to increase their brand value. Its main revenue comes from BDA (business development associates). They hire BDA on a salary of 10-12 lakh per annum with just 300 BDA employees. how do they convince people to spend their life-saving?

Byju's marketing strategy-

1- Cold Calling- Byju's salesman randomly call your parents or in fact sometimes to you itself will call you and ask, what are your future aspiration? where do you see yourself? what do you actually wish to become? how do you see studies? they will discuss all these things with you. 

2- Advertising- Either you will see Shahrukh khan doing the endorsement or on Instagram, Facebook, and on youtube, you will see the Byjus advertisement and inquire

3- Doubt Solving- in today's date when kids have don't then they go on the internet and search while searching you will land up on Byjus website. Why? because Byjus on their website has already provided answers to kids. Now from any of these 3 things you came in contact with Byjus, you will definitely get one thing i.e 15 days free trial. Now, why this 15-day free trial? 

Behavioural Economics.

As soon as any kid takes a Byjus free trial, they will track the kid's behavioural data and after that create a strong profile. They will get the 'Study Material', in form of videos, and 'Quizzes'. So from the study material, Byjus will calculate what is the average view time of the kid on that study material? How often does he revisit? which means, how many times is revisited videos? the speed, avg view time, as well as the consistency of the student. Quizzes show the performance and there are 2 very important things 

1. Accuracy
2. Time taken

After the complete profile of the kid is ready within 15 days, the Byjus sales executive have to contact the kid's parents. Depending on which category the kid is falling in same pitch is customised accordingly 

1. Underachievers- These are those kids who are very weak in their studies there performance is not that much so chances are they are not paid attention to, then they will fail.
2. Average- These are those kids who are average in their studies. so their parents are told if you don't take Byjus course then your kid will remain an average kid who will never outshine in this world
3. Overachievers- These are those kids who are always top in studies. Byjus sells their premium course to these kids. The salesman will ask those kids parents about what does your child want to become? if they say Doctore then they will sell them NEET courses very badly, if Engineering then JEE, if lawyer then CLAT courses, and if wanna go for a startup or business then they will offer IPMAT or CAT coaching. These things are planned very strategically! executives tell the parents that In today's date competition has increased very much, then the chances of your kid getting a job is very tough if he does not go to IIT or IIM

After the executive's sales pitch 70% of customers are convinced. Now you might be thinking how is that even possible? Even an e-commerce website that has a traffic of lakhs of people even their conversion rate is 3-5%. What exactly does Byjus do to convert 70% of their consumers?

"Insecure people purchase convenience to feel secure"

1. Insecurity- About their child's Career, Competition of if my kid will perform better than Sharma's son or a daughter?, Society what people will say? what relatives will say?
2. Security- Good education, good college, good job, good earnings.

People want to go from an insecure to a secure environment, and the convenience is offered by Byjus! "People do not make good decisions they made convenient decisions" Because in good decisions, "Time, Effort, and Intellect"

For those who cant afford Byjues courses, Byjues sell them courses as well! How?- by a strategic partnership with Capital float, Bajaj Finserv, Cash Care has partnerships with all this companies. These companies offer loans by targeting peoples insecurity. Let people buy Byjus courses on EMI. People don't even know Byjues courses signup for the loans, because their executive do not use words like loan or instalments   

Byjus world

Firstly any person buys a Byjus course and as the kid grows, if the kid wanna go for medical, Byjus will request to join Aakash Institute which is owned by Byjus, if he wanna learn to code then they recommend #Hashlearn or Whitehat Jr which is owned by Byjus, if the kid is confused then Byjus will recommend using Topper or Grate learning which is also owned by Byjus! 

Now that kid is grown up by learning through Byjus, now either that kid will do a job in Byjus only or else will do the job in some good company. But in the coming future, that person will have his kids then chances are he will tell his kids to learn from Byjus. Because he has done all his education through Byjus only

All this will result in Intelectual Bankruptcy, This is because Byjus will dominate this system and will provide so much convenience to people that people will stop working hard. Ultimately only Byjus will earn money, but the loss will be of normal people.

Self-learning is very important because, in the upcoming times, the world's economy will be skilled-based and if you have a degree then it is good even if you don't have then also having skills is most important. Any company or any person will not entertain those who lag skills