LawVision INSIGHTS Blog

Archive for Pricing Strategy Category

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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Posted In: Pricing Strategy

Thoughts About Law Firm Rate Strategies into 2022

Economic Backdrop A recent AP news headline indicated that the price of cars, gasoline, restaurants, food, and other goods matched a 13-year high,[1]

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Posted In: ALSP, Client Service, NewLaw Business Models, Pricing Strategy, Profitability

Your Clients Are Not Stupid; Stop Rate-Hiking as if You Think They Are

This article was first published April 20, 2021 in PinHawk’s Legal Administrator Daily. A good friend of mine who’s founded and served as

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Posted In: Pricing Strategy, Profitability

Pricing 2.0 – Beyond the Billable Hour

This article was first published February 16, 2021 in PinHawk’s Legal Administrator Daily. I am enjoying the discussion going on these days about

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Posted In: Pricing Strategy, Profitability, Research, Intelligence & Data Science

Your Financial Performance Scorecard

Financial Performance Diagnostic Metrics and accountability are essential parts of your law firm’s performance. But not all are created equal, nor do all

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