Value Pricing is great Marketing for Lawyers
Marketing for Lawyers is no business for old men says Ray McLellan who writes the amusing and incisive blawg 'No Business For Old Men' and his best selling book is a must read for law firms that want to thrive in the face of change.
This is one of those excellent blawgs that turns out to be addictive reading. You start one article and leapfrog to another as your interest is sparked by a link to another post. This one on Value Pricing is a great place to start as it is a hot topic among law firms that want to demonstrate modern attitudes and shed the image of the inflexible hourly rate.
"How does value pricing work?
With Value Pricing, legal professionals discuss with each customer their goals and objectives, the value drivers, and the way they want to do business together.
Then they put their heads together to explore the best ways to help and provide the client with real choices. Together, you agree on a fixed, value-based price for services and off you go!
Fixed price agreements include unlimited telephone calls and unlimited emails and can fit in with cash-flow arrangements. Any changes are made using a "Change Order" that way everyone knows what's happening."
If you find that extract has stimulated your interest in the arguments as to why Value Pricing is great marketing for lawyers and why it is better than hourly billing then you can check out the rest of McLellan's article here.
Tags: Legal Marketing techniques, law blogs, Added Value
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I recently spoke with Lara King of BBC Radio Humberside on the subject of Employment Law. Click on the Play button, above, to hear the interview.