Course description
As the market becomes increasingly competitive for all professional services, especially legal, it has been hard for law firms to maintain an edge whilst also complying with the SRA’s definition of “transparent pricing”.
Richard Allen presents this comprehensive and informative webinar that explores the pricing methodologies law firms can employ for massive benefits, which for some may require a significant cultural shift.
It will include a look at pricing commoditised work, meeting the rigors of transparency, why fixed fees can fail to make a profit, how to avoid write-offs, the ten most powerful strategies for making more money, and much more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
With increasing competition in all professional services, especially legal, combined with more costs savvy clients, the demand for alternative pricing models and pricing choice has never been greater.
Additionally, many firms have still yet to get to grips with ‘transparent pricing’ introduced by the SRA in December 2018. Pricing legal services can employ the same modern pricing methodologies, which we come across everyday as consumers, even if we fail to recognise what they are when we are the buyer!
Adopting alternative fee arrangements is a cultural shift, yet we gain massive benefits by making more money and having happier clients.
This webinar will discuss the pros and cons of alternative fee arrangements and will offer guidance on how you can make the transition to this fee model.
What You Will Learn
This webinar will cover the following:
- How to address pricing commoditised work and meet the rigors of pricing transparency
- Why we fail to make a profit with fixed fees and how to do this effectively
- Why we have write-offs and how to avoid these in the future
- How behavioural economics applies to professional services pricing.
- What does value pricing mean in practice?
- The ten most powerful strategies to making more money
- Understanding price risk and value alignment for our clients
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...