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.
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