Click here to sign up for a new platform that helps law firms use subscription billing.
Mark Stiving is a pricing expert and the founder of Impact Pricing. Mark applies his expertise to how lawyers can move away from hourly billing and better understand how to price and sell the value of their services.
Mark explains the importance of having just 3 pricing options - good, better, best - to avoid overwhelming potential clients. He shares strategies for articulating the specific problems you solve for customers and the results they can expect. Mark emphasizes that pricing models should align incentives between you and the client. He provides examples of value-based pricing for legal services and outlines the 4 ways to grow revenue from current clients.
Ultimately, lawyers need to understand what their clients truly value and price accordingly. Mark also dissects my approach to pricing legal services and helps me identify the value I’m selling to potential clients. He explains why subscriptions differ from traditional business models and stresses focusing both on acquiring new clients and maximizing revenue from existing ones.
__________________________
Sign up for Paxton, my all-in-one AI legal assistant, helping me with legal research, analysis, drafting, and enhancing existing legal work product.
Here’s a link to purchase lifetime access to the recordings of My Shingle’s AI Teach-In if you couldn’t make it live.
I’ve partnered with Pii to make it easy for you to purchase the hardware I use in my law firm: (1) Studio Setup; (2) Midrange Setup; (3) Highrange Setup.
Get Connected with SixFifty, a business and employment legal document automation tool.
Sign up for Gavel, an automation platform for law firms.
Visit Law Subscribed to subscribe to the weekly newsletter to listen from your web browser.
Prefer monthly updates? Sign up for the Law Subscribed Monthly Digest on LinkedIn.
Check out Mathew Kerbis’ law firm Subscription Attorney LLC.
Want to use the subscription model for your law firm? Click here to sign up for a new platform that helps law firms use subscription billing.
