For those leaders who are not on the front lines fighting this crisis,
Welcome to an exciting (virtual) week for small/midsize law firm leaders.
Pricing Week is designed to help small and midsize law firms build their Pricing competencies. We will go beyond crunching numbers and creating Price Tags to help you understand how Pricing can be used to gain More Profit and grow More Revenue.
By attending Pricing Week 2020, law leaders can learn:
The latest Pricing trends for midsize law firms.
The importance of Value, Value Propositions, and Value-Based Pricing.
How to integrate Pricing into Marketing and Business Development.
How to improve Price Negotiation skills.
To kick-off Pricing Week 2020, we will discuss the financial trends of the last two years, based on the recently released 2020 Report on the State of the Midsize Legal Market, and we will explore ways to improve your firm’s Pricing & Profitability in the coming year. (45 min)
Pricing has three objectives: Positioning, Purchasing, Profitability. After a decade focused on Profitability, law leaders need to embrace Positioning and Purchasing as key aspects of your firm’s Pricing efforts. We will explore how Pricing intersects with Marketing and Business Development to improve your sales activities. (50 min + Q&A)
• Examine the role Pricing plays in Positioning and Purchasing
• Discover the role of psychology in Purchasing
• Explore the priorities that drive buyer purchases
• Discuss the ACC Value Challenge
The billable hour is not dead; in fact, it is the most popular of all fee arrangements. Using the Continuum of Fee Arrangements™, we will discover the numerous options available to firms, explore the promises and realities of AFAs, and discuss how partners can utilize AFAs for pitches and proposals. (50 min + Q&A)
• Examine the appeal clients have about AFAs
• Learn how to use the Continuum of Fee Arrangements™
• Understand the practical considerations to building and managing AFAs
• Discuss the risks and rewards of Value-Based Pricing
In today’s market, calculating your Price Tag is just the beginning. Presenting—and defending—your proposal has become the crucial stage. Without training, partners struggle to support firm Pricing. With this training, partners will begin to build the confidence needed to be successful. (50 min + Q&A)
• Learn the techniques and tactics of professional services sales
• Examine the key elements of the Price Negotiation process
• Discuss buyer objections and how to respond
• Explore the role of psychology in Price
With the COVID-19 pandemic affecting every corner of our economy, we will close Pricing Week 2020 with an examination of the lessons we might apply from the 2008 financial crisis and have an open discussion about the current financial uncertainties. (60 min)
*The top of Value will return next month, as a three-part series–Value, Value Propositions, Value-Based Pricing. Watch for details.