Not familiar with the term ‘charm pricing’? – neither was I until I started taking the issue of pricing seriously, but at it’s core is something we (tender and pitch professionals) see daily, the psychological effect of reducing the the left digit(s) by one so that “0” and “00” becomes “9” and “99” – i.e. […]
Like many lawyers who have worked under billable hours or fixed fees, for most of my career I have pondered the question: “How can I make money while I’m asleep?”, or better yet, awake but not working! Early in my career I thought I had the answer – subscription-based pricing. At the time I was […]
“As of April 03, 2023, the subscription fee for Microsoft 365 Family will change from AUD 129 to AUD 139 to address changing market conditions.” Microsoft email notification 19 March 2023 Okay, not a huge increase. But: Other than to say: “if you don’t like this increase, here is a link to unsubscribe”, absolutely nothing. My take: TIP […]
Last week saw the publication of the 14th edition of CommBank’s Legal Market Pulse report for 2021. What I recall starting out as a quarterly, then half-yearly, report, now looks to be permanently set as an annual publication (feel free to do a search of my previous posts on the CommBank report to see some […]
My friend John Chisholm hit the big time last week, he made the front-cover of Issue No.5 2021 of Legal Business World. All joking aside, John’s article ‘Who subscribes to your law firm?‘ (starts on page 8) is a really good read. One of the gems I took away from John’s article is what he […]
Annuity revenue – a predictable revenue stream from new or existing customers who buy products and services associated with new or previously purchased products. As the Managing Partner of a law firm today, what would you say if I walked into your office and told you that I could: provide you with a guaranteed monthly revenue income, with […]
In my working career to-date I have experienced, first-hand, four economic downturns: The first was in the late 1980s in the UK (when I had just moved to UK from Southern Africa) and everyone walked around with negative equity for a few years (at least, those that hadn’t had their homes repossessed). The second was […]
This week’s episode of the Impact Pricing podcast (episode 20 – ‘Mastering SaaS Pricing: How to Price and Package Your Service’) sees host Mark Stiving talking with Kyle Poyar, Vice President for Market Strategy at OpenView. By their own admission, Mark and Kyle geek-out over SaaS pricing theory and its KPIs, so this podcast is […]
Last week I had reason to travel to Newcastle NSW. On the train journey up there (which is roughly three hours from Sydney’s CBD) I took the opportunity to listen to a podcast by Mark Stirving and his guest Darren LaCroix – “How a smart subscription pricing strategy improves retention“. Very little of what follows […]
The Australian‘s weekly Legal Affairs section is reporting (subscription required) today that global law firm “Herbert Smith Freehills will seek to more closely integrate its Australia and Asia practices.” Sorry to be blunt, but what!?! According to the Lawyers Weekly website, HSF officially merged on 1 October 2012 to open as the “largest fully integrated law firm in […]
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