Price Transparency

SRA/CLC Transparency on Pricing

Are you aware of the new rules coming in December 2018[1]? As these controversial rules come into effect now is the time to consider the wider issues regarding how you set prices in your firm.

How do you approach the pricing of services that you offer to your clients and show these on your website?

Are you aware of what your competitors are charging and how are they going to promote this?

Are they going to publish average prices for services or a range dependent on clients’ circumstances?

What should you be charging for your services that keep you competitive and what are you going to promote on your website?

Our sister company Conscious Solutions a legal focused digital agency, have spoken with the SRA full details of this on their blog.

Is there a solution?

In short yes there is, but each law firm is going to be different. There is no “one size fits all” approach to pricing.

These are tough decisions and many law firms will be unsure how to approach this. We at Symphony Legal want to help guide you through this minefield by exploring these issues with law firm owners & managers and help find a solution that is right for your firm in your geographical location or market sector.

In addition, we can use the mystery shopping via our friends at Insight6 to find not only what your competitors are charging but how they intend to promote these prices.

There is a strategy for each firm to consider their approach pricing.  It’s one thing being compliant to these rules, but a much bigger question will be how much business could you lose if you don’t get your pricing strategy right?

What to do next with help for your law firm and price transparency?

We want to help you before December so you are ready for the changes. Contact the Symphony team to book in your Law Firm Pricing Assessment Strategy.

Call 0333 320 9979

Or email enquiries@symphonylegal.com

 

[1] The CLC implementation date is 6 December 2018. For the SRA it’s currently ‘by the end of the year’.