Are you charging for the value you add? In the second episode of our Legal Sector Resilience podcast, we explore a fundamental element of legal services - putting a price on the value lawyers and law firms add, and having the confidence to charge for it. From the client's perspective, their 'outcomes' are based on the problem you solve for them - so if value to the client isn't a time-based measure, and they are happy to pay for the value you bring, why are law firms not considering value based pricing? Emma Waddingham, Editor of Legal News Wales speaks to Shaun about Value Pricing which, he says, is no more than having a conversation with a customer and agreeing a price that is fair to both the customer and the law firm, a price that reflects value for both parties. We discuss why law firms should adopt Value Based pricing, bust some myths on the subject and explain how your law firm can start working on an essential project that can fuel cultural change, lawyer satisfaction and business resilience.
For more information and signposting, visit the insights section on legalnewswales.com and use the 'Legal Sector Resilience Podcast' filter.