Law firms face two critical intelligence factors — business intelligence (internal) and competitive intelligence (external) — and both play a significant role in pricing. This post focuses on competitive intelligence. Watch for the post on business intelligence next month. In the second half of the nineteenth century, two towering scholars—one from England, one from the […]

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 […]

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 […]

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 […]

On June 26 two simple words announced the arrival of a new law firm pricing database. “Hello World!” was the first tweet from the industry’s most recent pricing database, LegalDatum. It joins ALM, Thomson Reuters, TyMetrix and Valeo as software tools that aim to provide competitive intelligence regarding attorney fees. Unlike the current four, LegalDatum uses […]