How can such a simple word, price, cause so much confusion? For years, the legal industry has been focused on calculating better price tags and devising creative fee arrangements, all in the name of Pricing. Unfortunately, Pricing is not the same as Price, nor is Price synonymous with Pricing Strategy or Strategic Pricing. It is […]

On June 26 two simple words announced the arrival of a new law firm pricing database. “Hello World!” was the first tweet from the industry’s most recent pricing database, LegalDatum. It joins ALM, Thomson Reuters, TyMetrix and Valeo as software tools that aim to provide competitive intelligence regarding attorney fees. Unlike the current four, LegalDatum uses […]

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 this summary (which I presume was influenced by the conference’s only pricing session: “Pricing, Profitability […]

Because I come from a markting/business development background, I view Price as more than just dollars and cents. At the very least, Price needs to includes client feedback, and I believe it also should include competitive intelligence. Perhaps this explains my advocacy for an expanded understanding of Price: Strategic Pricing ~ a synthesis of information from […]