Summary: Pricing says as much about any firm as any other branding or positioning strategy, yet many law firms continue to struggle with the systematic approach to embracing pricing strategies. What makes pricing so challenging is the natural tension that exists between a systematic approach to pricing and partner freedom — and yet the gains realized in turn can be significant. We help firms think through all aspects of pricing, including:
- The current pricing strategy and execution
- Diagnostics on phased pricing execution (including examining pricing and rate progression segmented by client, practice/service, partner) and identifying areas for immediate gain
- Partner education, training and coaching
- Practice performance for pricing
- Development of innovative fee strategies / alternative fee arrangements
- Help in creating a formal pricing function and workflow
- Studying and assisting in the cultural challenges that any firm may face in these projects
The Law Firm Pricing Tool Kit
Unlock the key to strategic pricing success with LawVision’s complimentary Law Firm Pricing Toolkit. Designed by industry experts, this toolkit provides essential insights and actionable steps to help law firms navigate the complexities of pricing and profitability. From refining rate strategies to creating transparent pricing processes, the toolkit equips your team with the knowledge needed to optimize financial outcomes and maintain a competitive edge.
Download the toolkit today and schedule a complimentary consultation with Mark Medice to review your firm’s rate plan.
To access the free Law Firm Pricing Tool Kit, click HERE.
Rate Strategy
This year most firms have already established a strategic rate plan. Yet, success is determined not merely by design but by diligent execution. At this stage of the rate calendar, the emphasis transitions to implementation, involving a significant human element and the skill of persuasion and education. This journey transcends mere number crunching and proposal drafting. It demands organizational nimbleness, motivational leadership, unambiguous communication, visible performance, and an unwavering emphasis on delivering value to clients.
Schedule a conversation with Mark Medice, LawVision’s Strategic Pricing, Profitability and Data Science Principal.
Additionally, you can download our brochure on the Rapid Rate Diagnostic HERE.
