The Masterclass is designed to (a) develop the pricing capability of participants and (b) to help identify specific pricing opportunities that can be immediately realised by their firm.
Developing the pricing capabilities of participants
Develop a comprehensive understanding of pricing theory and practices relating to professional services
Credibly demonstrate value to clients and to increase price-setting discretion
Develop your knowledge on how to successfully price projects and explore various pricing tactics designed to avoid competing on price
Understand leading pricing practices within the professional service market
Explore various pricing strategies designed to increase profit margins and market share
Identifying opportunities to improve the firm’s pricing
Conduct a comprehensive assessment of the firm’s pricing and integrate into a pricing strategy
Identify methods of building your firm’s pricing capability
Review different approaches to managing the pricing function and establishing pricing policies
Identify and prioritise opportunities to improve your firm’s pricing outcomes
Numerous case studies will show how firms have significantly improved their pricing outcomes
Pricing has more impact on your firm’s profitability than any other factor, so getting it right should be one of your top priorities. As clients become more sophisticated and critical of fees and billing arrangements, pressure on firms is mounting to justify the numbers and convince clients that price equals value. This interactive workshop builds upon Colin’s session at the Forum and will allow participants to improve their approach to pricing, more clearly demonstrate their value and build confidence in their pricing strategies.
The workshop will cover:
- Leading pricing practices within professional service firms
- Methods of setting prices and managing pricing within a firm
- Succeeding with alternative fee arrangements
- Strategies and tactics to increase price-setting discretion
- Case studies of successful pricing transformations
Before firms can capture value, they must first create genuine value for clients. In this interactive session Lisa Konie and Colin Jasper will challenge conventional thinking regarding client value, how it is created, how it is communicated and who is responsible. By exploring a series of propositions, Lisa and Colin will challenge participants to rethink the way they approach their roles in order to enhance the value they deliver to clients, and capture for their firms.
After making the initial business case to launch a LPM initiative, firms reach a point where they need to increase the resource commitment to the program. This panel consists of firms with successful LPM initiatives who have measured the impact of their programs through various metrics ranging from billable time, the value of out of scope work captured and more.
Leading the way: A multi-perspective view towards the most impactful market trends and opportunities in legal pricing right now, with consideration for overcoming barriers to change, while positioning the firm to take advantage of opportunities to differentiate.