Law firms face two critical intelligence factors — business intelligence (internal) and competitive intelligence (external) — and both play a significant role in pricing. This post focuses on competitive intelligence. Watch for the post on business intelligence next month. In
“Every client wants lower fees; no client wants lower value.” Ten simple words encapsulate a law firm’s true business objective: offering value. To be successful, law firms must look past marketing campaigns, business development initiative, and even pricing strategies to
I guess it is human nature to have a spark of ingenuity without knowing its origin. Last summer, while working on the value chapter of my forthcoming law firm pricing book, I came across the work of Aaron Kuehn. Kuehn,
Law firm pricing was one of the key takeaways from the Legal Marketing Association’s 2013 Annual Conference, according to the May/June 2013 issue of Strategies: The Journal of Legal Marketing. The conference was held on April 8-10 in Las Vegas. Strategies offers
In my latest writing – ”Driving Revenue: Value, Value Propositions and Value-Based Pricing” (ALA Legal Management, March 2013) — I offer a basic outline for defining value, communicating value and pricing value. Part One, Defining Value, was posted on March 5. Part Two, Communicating Value, was posted on March 12. Here is Part Three: Pricing Value.
Because they do not have tangible products, law firms must rely on creating relationships with propective clients that provide individual attorneys with the opportunity to showcase the firm’s value. In my latest writing — “Driving Revenue: Value, Value Propositions and Value-Based Pricing” (ALA Legal Management, March 2013) — I offer a basic outline for defining value, communicating value and pricing value. Here is Part One: MORE