Successful Premium Pricing - October 5, 2016 

Successful Premium Pricing: In pricing legal services, significant effort seems to be placed on firstly creating a budget, then determining how much this needs to be discounted to win the work.  Far less effort seems to be placed on identifying and realizing opportunities for premium pricing - opportunities where we can charge more than our budget and yet still win the work and keep the client happy.

Applying contemporary pricing and sales theory, and using case studies from within the professions, this workshop will develop participants' skills in:

• Recognizing premium pricing opportunities and realizing premium pricing on these opportunities
• Shifting the client's emphasis away from price towards value, including effectively dealing with procurement professionals
• Implementing premium pricing strategies within your firm to drive increased margins.

Topics covered include:

• Understanding the irrationality of clients: Perhaps surprisingly, evidence shows that many law firm clients are making illogicaldecisions when they hire, and fire, law firms. This irrationality often involves clients selecting the cheapest price when they really should pick a premium firm at a higher price. However, if we know what to look for, we can predict this client behavior, avoid the pitfalls and profit from the opportunities.
• Differentiating, in the right way: Examining why many firm’s current attempts to differentiate ultimately commoditize their offering, and what we can do about it.
  
• Anatomy of a successful pursuit: Investigating the tools, processes and strategies other professional service firms, and corporations, are implementing to achieve a premium in their pricing.
  
• Selling in the era of procurement: Reviewing some of the new tools and techniques being applied by procurement teams, and how you can navigate them to achieve your premium price.
  
• Pitching to the value: Outlining various sales approaches and strategies firms can use to shift the client’s mind from the lowest price.
  

The course is illuminated with numerous examples and case studies of how leading firms are successfully premium pricing their services. 

To view the brochure, click here.