Tuesday, April 5, 2011
Trying to price value? Talk to your clients.
Meredith Hobbs' "In-House, Firm Lawyer Trade Views on Alternative Billing" in Law.com's Law Technology News. Lawyers should be talking to their clients about many things: service, value, delivery, skills, etc. But alternative fee arrangements ought to be at the top of that list. Why? AFAs are unknown. They're different. They're daunting. And they are important to clients. Very important. To offer AFAs that make their clients happy, that make their partners happy, that reflect the value of the services they provide, lawyers need to develop arrangements that are win / win for everyone involved. The only way they can get there is by talking to their clients, by understanding what's important for them, by setting goals that reflect the needs of both the firm and the client. Kevin Gallagher and Ronan Doherty had one of those conversations at this ACC Georgia panel discussion. Now it's your turn. Read this post. Talk to your clients. And figure out different ways to price the value you give them. Your clients will thank you.