Value Archives : Law Firm Pricing https://lawfirmpricing.com/tag/value/ Mon, 17 Feb 2020 20:07:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://lawfirmpricing.com/wp-content/uploads/2023/03/cropped-icon23-32x32.jpeg Value Archives : Law Firm Pricing https://lawfirmpricing.com/tag/value/ 32 32 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 It’s All About Value https://lawfirmpricing.com/2015/07/31/its-all-about-value/?utm_source=rss&utm_medium=rss&utm_campaign=its-all-about-value Fri, 31 Jul 2015 21:38:44 +0000 http://www.patrickonpricing.com/?p=1724 “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 get at the heart of their business model: value. TWO VALUES, ONE FORMULA If “value […]

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]]> 1724 Survey Finds Pricing Trouble for Larger Firms https://lawfirmpricing.com/2014/11/26/aderant-survey-2014/?utm_source=rss&utm_medium=rss&utm_campaign=aderant-survey-2014 Wed, 26 Nov 2014 14:00:45 +0000 http://www.patrickonpricing.com/?p=1550 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:   We could speculate endlessly on the reasons for the great disparity between small and large […]

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]]> 1550 Introducing The Value Bike™ https://lawfirmpricing.com/2014/06/18/introducing-the-value-bike/?utm_source=rss&utm_medium=rss&utm_campaign=introducing-the-value-bike Wed, 18 Jun 2014 17:59:17 +0000 http://www.patrickonpricing.com/?p=1345 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, an American graphic artist, creates typograms: complex systems depicted entirely typographically using only the names […]

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]]> 1345 What’s Gelato Got to do with Law Firm Pricing? https://lawfirmpricing.com/2013/08/31/gelato-pricing/?utm_source=rss&utm_medium=rss&utm_campaign=gelato-pricing https://lawfirmpricing.com/2013/08/31/gelato-pricing/#comments Sun, 01 Sep 2013 02:17:01 +0000 http://www.patrickonpricing.com/?p=740 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 brand offerings–from bargain to premium–available for shoppers to consume. A few days ago, Carl Richards, a […]

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]]> https://lawfirmpricing.com/2013/08/31/gelato-pricing/feed/ 5 740 Storytelling as Pricing Strategy https://lawfirmpricing.com/2013/08/29/storytelling-as-pricing-strategy/?utm_source=rss&utm_medium=rss&utm_campaign=storytelling-as-pricing-strategy https://lawfirmpricing.com/2013/08/29/storytelling-as-pricing-strategy/#comments Thu, 29 Aug 2013 16:30:06 +0000 http://www.patrickonpricing.com/?p=674 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 Raise Prices, Tell a Better Story” on the HBR Network. Montague suggests “the power of […]

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]]> https://lawfirmpricing.com/2013/08/29/storytelling-as-pricing-strategy/feed/ 3 674 Pricing/Value at 2013 LMA Conference https://lawfirmpricing.com/2013/06/26/2013-lma-conference/?utm_source=rss&utm_medium=rss&utm_campaign=2013-lma-conference Wed, 26 Jun 2013 15:42:53 +0000 http://www.patrickonpricing.com/?p=573 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 this summary (which I presume was influenced by the conference’s only pricing session: “Pricing, Profitability […]

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]]> 573 Driving Revenue, Part 3: Pricing Value https://lawfirmpricing.com/2013/04/01/driving-revenue-3-pricing-value/?utm_source=rss&utm_medium=rss&utm_campaign=driving-revenue-3-pricing-value Tue, 02 Apr 2013 00:56:28 +0000 http://www.patrickonpricing.com/?p=376 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.

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]]> 376 Driving Revenue, Part 2: Communicating Value https://lawfirmpricing.com/2013/03/12/driving-revenue-part-2-value/?utm_source=rss&utm_medium=rss&utm_campaign=driving-revenue-part-2-value Wed, 13 Mar 2013 02:39:49 +0000 http://www.patrickonpricing.com/?p=332 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. Here is Part Two, Communicating Value.

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]]> 332 Driving Revenue, Part 1: Defining Value https://lawfirmpricing.com/2013/03/05/driving-revenue-1-value/?utm_source=rss&utm_medium=rss&utm_campaign=driving-revenue-1-value Tue, 05 Mar 2013 14:33:02 +0000 http://www.patrickonpricing.com/?p=298 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

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