LawVision INSIGHTS Blog

Archive for Pricing Strategy Category

Posted In: Law Firm Resilience, Pricing Strategy, Profitability

The Nuances of Multi-Tiered Rate Structures: Unraveling the Complexity

I occasionally receive questions about multi-tiered rate structures, which prompted my focus this week. RATE TIER STRATEGY DEFINED Rate tiering is a pricing

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Posted In: Artificial Intelligence, Law Firm Resilience, Pricing Strategy

The Future of Law Firm Pricing: AI, Time, and the Quest for Genuine Value

In my last two pieces, we navigated the intricate landscape of the 2024 law firm rate setting and broached the powerful bond between

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Posted In: Law Firm Resilience, Pricing Strategy

Building Stronger Client Bonds Through Strategic Rate Setting

Following up on my recent piece about navigating the complex landscape of 2024 law firm rate setting, I’d like to delve deeper into

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Posted In: Pricing Strategy, Profitability, Uncategorized

How to Think About Your Pricing Potential

Pricing is a vital topic today. And firms are often surprised when told that their current pricing approach costs them multiple millions of

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Posted In: Law Firm Resilience, Pricing Strategy, Profitability, Uncategorized

Making the Right Moves in a Year of Uncertainty

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

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Posted In: Pricing Strategy, Profitability

Fiscal 2023 Rate Strategies Series: Big Miss #3 – Wide Rate Dispersion with Bonus: Thoughts on Fiscal 2023 Rates

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.

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Posted In: Pricing Strategy, Profitability, Strategic Planning, Uncategorized

Fiscal 2023 Rate Strategies Series: Big Miss #2 – The Perils of Rate Stagnation (Flat Rates)

Today’s blog is part two of a three-part series on Big Pricing Misses[1]. Last week, I described the current precarious law firm rate-setting

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Posted In: Pricing Strategy, Profitability, Uncategorized

Fiscal 2023 Rate Strategies Series: Big Miss #1 – Unnecessary Discounting

As we look to close out 2022, it has never been more important to execute your pricing strategy well. The competitive market for

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Posted In: Compensation & Performance, Legal Process Improvement, Pricing Strategy, Profitability, Talent Strategy, Team Performance

2022 Profitability Strategy Checklist

While we are in the early days, 2022 has already delivered many gifts to us, including stock market volatility, high inflation, the advent

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Posted In: NewLaw Business Models, Pricing Strategy, Profitability, Strategic Planning, Talent Strategy

Lost Momentum in the Evolution of the Law Firm Business Model

In the midst of a global pandemic, the legal industry has remained incredibly resilient as the demand for services – particularly deal support

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