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

Earlier this week, the Legal Marketing Association (LMA) announced it has created a new online community dedicated to law firm pricing. The new Client Value Shared Interest Group will focus on pricing, as well as project management and process improvement. This is a great advance for LMA, which historically has focused only on Promotion. Toby Brown, Director of Pricing […]

We’re only one month away from the Ark Group’s latest pricing conference. Great agenda: + The State of Pricing in the Legal Profession Today (Toby Brown) + Establishing a Pricing Capability, Negotiating Fees, Getting Work (Stuart JT Dodds) + The Most Important Drivers of Law Firm Profitability (panel incl. Peter Secor) + How to Incentivize Partner Behavior to […]

Congratulations to Jim Hassett on the release of his lastest book, Legal Project Management, Pricing, and Alternative Fee Arrangements: What Firms Are Doing. (Announcement) The book devotes six chapters to law firm pricing, including “Pricing Theory,” “Types of AFAs,” and “Using AFAs to Develop New Business.” I am honored to serve on the LegalBizDev Project […]

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 […]