Sales Commission Policy
1. OverviewNewton Academy’s commission policy is designed to incentivize ambassadors and sales representatives based on their performance. Commissions are tied to the number of sales made and the payment option selected by the customers (monthly, quarterly, or upfront). This structure aims to reward high performers and align their interests with the company's goals.
2. Commission StructureAmbassadors/Influencers/Sales Representatives: Ambassadors are responsible for promoting Newton Academy’s programs and driving customer enrollments through their networks and personal influence. They will earn a commission on each sale generated. Sales representatives handle direct sales and follow up with potential customers to close deals. They will receive commissions based on their sales performance.
Commission Rates
| Sales Range | Commission Rate |
|---|---|
| 1-20 sales in a month | 7.5% commission |
| 21-50 sales in a month | 10% commission |
| 51 sales and above in a month | 15% commission |
4. Payment TermsCommissions are payable only upon receipt of subscription payments from students. For monthly subscriptions, commissions will be paid monthly on the amount paid by the student, while upfront payment receives upfront commission. Example: If an ambassador brings in one student who chooses to pay 20,000 Naira monthly until paying 100,000 Naira, the commission will be 20,000 x 7.5% = 1,500 Naira. Payment is processed within 15 days after the month the sale was made.
5. Additional Incentives: Performance Bonuses
- Quarterly Performance Bonus: 5% bonus for 100 sales in a quarter.
- Annual Top Performers Bonus: 10% bonus for top performers with a minimum of 300 sales in a year.
- Referral Bonus: 5,000 Naira bonus for referring successful ambassadors or representatives.
6. Payment ProcessingSales will be tracked through Newton Academy’s CRM system to ensure accurate commission calculations. Monthly statements will be provided, and commissions will be transferred via bank transfer. Discrepancies must be reported within 7 days.
7. Terms and Conditions
- Eligibility: Commission eligibility is based on successful sales and payments.
- Modification: Newton Academy reserves the right to modify the policy with a 30-day notice.
- Dispute Resolution: Disputes will be resolved internally by Newton Academy.