Determining fees is a difficult law practice management task for most attorneys when thinking through their law firm marketing plans. In determining fees for certain services, attorneys often fall short of what they should charge. Too many attorneys are afraid of even charging the competitive price for their services when making their law firm marketing plans. Further, they make the pricing decisions often with no data or conceptual framework. Additionally, instead of focusing their efforts on how they can justify getting top dollar for what they offer, they charge a fee that is often way too low and often actually can scare off potential clients who think there is something missing from a service that is cheap. Additionally many attorneys dont realize that most purchasers in the marketplace by far are value purchasers and not looking for cheap.
So before you sit down and begin thinking through your law practice management pricing strategy you need some distinctions around pricing commonly used in law firm marketing planning. Then add your pricing strategy to your law firm marketing plans. You need to be sure that you are charging a sufficient fee on everything...
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