Law Firm Pricing https://lawfirmpricing.com/ Tue, 17 Mar 2020 21:21:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://lawfirmpricing.com/wp-content/uploads/2023/03/cropped-icon23-32x32.jpeg Law Firm Pricing https://lawfirmpricing.com/ 32 32 Georgetown Report: Future Includes New Model, Value-Based Pricing https://lawfirmpricing.com/2020/02/28/georgetown-2020/?utm_source=rss&utm_medium=rss&utm_campaign=georgetown-2020 Sat, 29 Feb 2020 04:23:59 +0000 http://lawfirmpricing.com/?p=3735 The law-firm centric model of the last century–allowing senior partners in major law firms to control every aspect of legal services–is giving way to an “integrated solutions” model with value-based pricing, according to the latest legal industry report. The 2020 Report on the State of the Legal Market argues the legal industry is undergoing “fundamental […]

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]]> 3735 Chief “Pricing” Officers Continued Record-Setting Pace in 2019 https://lawfirmpricing.com/2020/01/31/chief-pricing-officers-2019/?utm_source=rss&utm_medium=rss&utm_campaign=chief-pricing-officers-2019 Fri, 31 Jan 2020 14:44:38 +0000 http://lawfirmpricing.com/?p=3122 If the hiring of five pricing-related Chief Officers in 2018 could be characterized as momentum, then last year the legal industry was in full acceleration mode. Based on the last two years of record-setting growth, and using recent history as a guide, the legal industry is set for another record-setting year. In fact, we could […]

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]]> 3122 Survey: Pricing Disparity Grows Within Legal Industry https://lawfirmpricing.com/2019/06/30/2019-altman-weil-survey-2/?utm_source=rss&utm_medium=rss&utm_campaign=2019-altman-weil-survey-2 Sun, 30 Jun 2019 14:41:51 +0000 http://lawfirmpricing.com/?p=2748 The legal industry’s largest firms continue to invest in Pricing as the majority of the legal industry reverses its investments, according to the latest Altman Weil survey. In the 11th annual Law Firms in Transition survey, released last month, firm leaders showed diverging interest in Pricing-related efforts. When asked, Is your firm doing any of […]

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]]> 2748 Survey: Pricing Concerns Decline to Lowest Level in Nearly a Decade https://lawfirmpricing.com/2019/05/31/2019-altman-weil-1/?utm_source=rss&utm_medium=rss&utm_campaign=2019-altman-weil-1 Sat, 01 Jun 2019 02:53:23 +0000 http://lawfirmpricing.com/?p=2711 Law firm leaders’ concerns about Pricing are at, or near, their lowest levels since the Great Recession, according to the latest Altman Weil survey. In the 11th Annual Law Firms in Transition survey, released earlier this month, firm leaders expressed declining concern about Pricing-related topics. When asked, Which of the following legal market trends…will be […]

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]]> 2711 The Defining Four: Price, Pricing, Pricing Strategy, Strategic Pricing https://lawfirmpricing.com/2019/03/31/the-defining-four/?utm_source=rss&utm_medium=rss&utm_campaign=the-defining-four Mon, 01 Apr 2019 02:41:01 +0000 http://lawfirmpricing.com/?p=2411 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 […]

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]]> 2411 Chief “Pricing” Officers Gain Momentum in 2018 https://lawfirmpricing.com/2019/02/02/chief-pricing-officers-2018/?utm_source=rss&utm_medium=rss&utm_campaign=chief-pricing-officers-2018 https://lawfirmpricing.com/2019/02/02/chief-pricing-officers-2018/#comments Sat, 02 Feb 2019 13:53:37 +0000 http://www.patrickonpricing.com/?p=2020 It has been years since the legal industry adopted the C-Suite framework–so common within its clients–for its business functions. It has been slow to invite the Pricing function into that club. The momentum shifted in 2018. The Beginning: In 2010, Drinker Biddle created the legal profession’s first Chief Value Officer role. Although not truly a […]

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]]> https://lawfirmpricing.com/2019/02/02/chief-pricing-officers-2018/feed/ 1 2020 Roll Call Doubles in Four Years, Chiefs Making Move https://lawfirmpricing.com/2019/01/31/roll-call-2018/?utm_source=rss&utm_medium=rss&utm_campaign=roll-call-2018 Fri, 01 Feb 2019 05:59:02 +0000 http://www.patrickonpricing.com/?p=2010 It has been far too long since I reported on the exponential growth of our profession. When I launched the Roll Call in early 2013, our community was already larger than anyone knew. We thought there were less than 50; turns out, there were nearly 100. Five years later, the growth has nearly tripled, though […]

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]]> 2010 White Paper: ALA’s Legal Service Pricing https://lawfirmpricing.com/2016/02/29/white-paper-alas-legal-service-pricing/?utm_source=rss&utm_medium=rss&utm_campaign=white-paper-alas-legal-service-pricing Tue, 01 Mar 2016 03:34:59 +0000 http://www.patrickonpricing.com/?p=1797 Recently the Association of Legal Administrators (ALA) released its first white paper on law firm pricing: The Client Cost Conundrum: Legal Service Pricing in a Post-Recession Market. The February 2016 publication attempts to explain the importance of pricing within the legal industry by focusing on the reactions to the Great Recession by clients, law firms, […]

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]]> 1797 2015 Altman Weil Survey: Pricing Losing Luster, But Still Key to Competition https://lawfirmpricing.com/2016/01/31/2015-altman-weil-survey-pricing-losing-luster-but-still-key-to-competition/?utm_source=rss&utm_medium=rss&utm_campaign=2015-altman-weil-survey-pricing-losing-luster-but-still-key-to-competition Mon, 01 Feb 2016 04:42:33 +0000 http://www.patrickonpricing.com/?p=1761 I dropped the ball in 2015 and did not report on several key industry surveys. Of particular note is Altman Weil’s seventh annual Law Firms in Transition survey. To continue the 2013 (POST) and 2014 (POST) overviews, I thought it was important to post an overview of the 2015 survey, if only for comparison. So, eight months later, […]

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]]> 1761 Today is Law Firm Pricing Day https://lawfirmpricing.com/2015/10/22/law-firm-pricing-day-2015/?utm_source=rss&utm_medium=rss&utm_campaign=law-firm-pricing-day-2015 Thu, 22 Oct 2015 13:19:41 +0000 http://www.patrickonpricing.com/?p=1758 Last year I decided there should be a day dedicated to our nascent profession. So, based upon the earliest newspaper article I could find on the subject, I thought October 22nd was as good of a day as any! Time to celebrate 😉 Here is the link to last year’s inaugural post: PRICING DAY.

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