An OmniFocus subscription – a great example of ‘charm pricing’?

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. […]

Has your law firm considered subscription-based pricing?

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 […]

#ICYMI – Weekly Digest Issue 278

This week’s Digest has been sent out to subscribers. Some of my highlight’s from the week were: The Solicitors Regulation Authority commissioned a report from the University of Oxford on technology and innovation in the legal sector. Findings from the Report can be found here ‘Maybe, Don’t Be MacGyver – The Value of Value Storytelling […]

Do you know the 5 Cs of Value?

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’ – who wouldn’t crave some financial certainty in current circumstances?

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 […]

Pricing is a point of differentiation in difficult times

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 […]

What is the biggest pricing problem law firms are facing today?

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 […]

Report: ‘HSF bets growth on Asia’

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 […]

Currency woes strike again!

It’s that time of the year again when law firms in the UK (at least those with LLP status) publish their annual accounts and, once again, it would appear that currency exchange fluctuations have played a significant part in the profit and loss (P&L) sheets of most with international operations (‘Currency woes hit growth‘ – subscription required). As I pointed out […]