“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
Aderant recently released “The Emergence of Tigers and Bears and Other Law Firm Trends,” its third legal technology industry survey since 2010. Although the report focuses on technology investment, one question has focused on law firm pricing. The five-year trend is worth noting:
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,
How much is a pint of ice cream worth to you: $2.19, 4.49, 11.99? Well, that depends on how much you like (“value”) ice cream. Which is precisely why, if you haven’t perused the frozen food aisle lately, there are dozens of
Storytelling may be the ‘next big thing’ in pricing strategy, if you believe Ty Montague, author of the new book, True Story: How to Combine Story and Action to Transform Your Business. Last month, Montague penned “If You Want to
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