No. of Public CPD Points: TBC
About the Programme
This e-Masterclass aims to advance your knowledge and understanding about pricing strategies for legal practice. Trying to strike the right balance in your dealing pricing for clients is not always simple - price your final client contracts too high, and you may lose some of your most high-value clients. Price them too low, and you may be forced to work too few staff to the bone to cut costs. Therefore, the objective is to find the pricing expertise to build a pricing revenue model that funds a thriving practice while generating real value for your clients. However, a common pricing mistake many practices make, is assuming their clients will either pay high prices for the brand or are content with old-time and material billing arrangements you have provided them in the past. Nowadays, many clients are not happy with time-based billing and are now asking practitioners to articulate their prices as fixed fees or prices. In short, clients seek price transparency, pricing certainty and value at the best price possible.
Topics to be covered:
• Pricing for legal practices: What to consider
• Pricing and marketing strategy
• Legal practice pricing models
• Revenue model, Specialization, Cost to serve, and Time & effort
• Hourly fees vs Fixed price legal fees: What to consider
• Contingency pricing
• Retainer model
Successful legal practices are not just good at providing legal services to their clients, they are also experts at finding the right price and right fee structures for their clients as well. Reputation is based on many factors, and increasingly important factors are price and value. By becoming familiar with the right pricing strategies, this will provide the tools necessary to build a successful, profitable practice.
Raphael Tay - Senior Partner, LAW Partnership
For more information, please click here for the publicity brochure.
As this is a masterclass, there are limited slots available.
For other CPD events, please visit the LawSoc CPD Portal.