Posted In: Law Firm Resilience, Pricing Strategy, Profitability
By Mark Medice on April 9, 2024
Strategic pricing within law firms is more than just setting rates; it is a year-round endeavor that aligns with the firm’s pursuits, understands
Posted In: Law Firm Resilience, Organizational Structure, Pricing Strategy, Profitability, Uncategorized
By Mark Medice on February 27, 2024
As the year begins, law firms transition their pricing focus from the planning stage to execution. In the second half of 2023, firms
Posted In: Law Firm Resilience, Pricing Strategy, Profitability
By Mark Medice on January 16, 2024
As we usher in 2024, the echoes of 2023’s law firm successes and challenges still linger. Last year, we observed mixed demand, gnawing
Posted In: Law Firm Resilience, Pricing Strategy, Profitability
By Mark Medice on December 5, 2023
Contrary to popular perception, law firm billing rates do not exhibit a steady upward trajectory. Instead, a closer examination of long-term trends reveals
Posted In: Law Firm Resilience, Pricing Strategy, Profitability
By Mark Medice on November 6, 2023
I occasionally receive questions about multi-tiered rate structures, which prompted my focus this week. RATE TIER STRATEGY DEFINED Rate tiering is a pricing
Posted In: Artificial Intelligence, Law Firm Resilience, Pricing Strategy
By Mark Medice on September 26, 2023
In my last two pieces, we navigated the intricate landscape of the 2024 law firm rate setting and broached the powerful bond between
Posted In: Law Firm Resilience, Pricing Strategy
By Mark Medice on September 11, 2023
Following up on my recent piece about navigating the complex landscape of 2024 law firm rate setting, I’d like to delve deeper into
Posted In: Pricing Strategy, Profitability, Uncategorized
By Mark Medice on March 21, 2023
Pricing is a vital topic today. And firms are often surprised when told that their current pricing approach costs them multiple millions of
Posted In: Law Firm Resilience, Pricing Strategy, Profitability, Uncategorized
By Mark Medice on January 31, 2023
Recent legal industry reports[1] (i.e., the Citi Advisory and Georgetown Report) have highlighted financial performance for law firms in 2022, which presented law
Posted In: Pricing Strategy, Profitability
By Mark Medice on October 31, 2022
Today’s blog is the last installment of a three-part series on Big Pricing Misses1. Pricing is one of your strongest drivers of profitability.