Better Rates

Top surveys confirm: your firm’s financial success is tied to its ability to raise rates.

The Heart of the Matter

If insanity is doing the same thing over and over but expecting a different result, the legal industry is guilty of insanity when it comes to better rates. The annual automatic rate increase is not a successful Pricing Strategy, especially when discounting is commonplace, value is not communicated, and realization rates continue to fall. Most importantly, rate increases are focused internally, not externally.

A proactive approach to better rates is for Practice Group and Firm leaders to focus externally, on the buyers and clients: what do they value, how can your attorneys meet expectations.

Improving Rates

Versioning: The Beer Test

Two similar beers are priced at $1.85 and $2.30. With two choices, the less-expensive beer wins: 80% to 20%.

In the test, a third beer is added: a low-cost option for $1.65, and a premium option for $2.65.

With three choices, the low-cost option drove new behavior: 0% – 20% – 80%.
With three choices, the premium option made an impact on purchasing: 0% – 60% – 40%


If your Pricing Strategy is not helping you increase your
Firm or Practice Group Profitability, it’s time to take action!