In an era of disruption to the legal industry, transformation of pricing is crucial to ensure a firm not only survives but thrives. Traditional law firm billing models treat clients as rational decision makers whereas, behavioural economics proves that our decision making is influenced by biases, experience and emotions.
This session will look at why an understanding of how clients make purchasing decisions can be used to not only transform the purchasing behaviour of clients, but the lawyers’ perceptions of their own value.
It will bust some of the classic pricing myths:
• Clients always want the lowest price
• Certain legal work is a commodity and price is therefore crucial
• Discounts increase sales
• Clients are able to rationally compare offerings
• Corporate clients act rationally when choosing a law firm
Designed specifically for professionals from any discipline who wish to move themselves and their firms towards a value-based business model but need more guidance and information to feel confident taking their practice on the journey.
This interactive workshop will focus on two core skill sets that provide the foundation for success when transforming your firm - pricing for value and being an effective consultant.
The VeraSage Symposium is the biennial gathering of the 20+ Founders and Fellows of VeraSage Institute, an international think tank dedicated to challenging people to break free of practice methods that marginalize their professions, undermine their purposes, and fail their clients
Across two days of presentations, workshops and interactive events, VeraSage members and guests alike share their experiences, knowledge and work together explore ways to move their firms forward and advance the practices and pricing of knowledge firms in general.
Innovim Group Director, John Chisholm, will be speaking at this year’s Katchr Connect conference.
The event will include 5 keynote speakers, roundtable discussions, breakout sessions and the chance to network with some of the most forward-thinking law firms in the UK.
This event is an invitation only event.
See Conference website for more info
The College of Law is pleased to collaborate with Innovim to present a practical workshop on why you should innovate your pricing structures and where to start. Hear from John Chisholm, Liz Harris and David Wells on their experiences transitioning the firm from time recording to value pricing.
Re-framing pricing in terms of value has numerous benefits, including:
a much better relationship between lawyer and client;
greater internal collaboration and team spirit.
Improved cash flow due to faster invoice payment by clients; and
fewer cost disputes.
Innovim Group Director John Chisholm will be presenting at the 12th Managing Partners Forum in QLD on 22 -23 February, 2019.
In this session John Chisholm examines new and innovative pricing strategies for law firms and the growing importance of pricing psychology. John posits that lawyers need to better understand, capture and confidently communicate the value they create, and price such value in a way that aligns not only with the value created, but also with their client’s expectations and their own firm’s brand. Firms do this by adopting a range of pricing strategies, together with a clear understanding of the psychological aspects of pricing and purchasing decisions.
Innovim proudly welcomes back to Melbourne educator, speaker & writer Ron Baker, the world’s leading authority and thought leader on pricing in professional firms.
Ron will run a half day pricing masterclass for members of any of the professions who are seriously interested in transforming their businesses and improving their pricing skills.
John is conducting a “Going Timeless” Workshop at the ALA conference in National Harbor, Maryland USA