Pricing value

It requires a wholesale change of approach to:

• interactions with clients
• how fee earners develop targeted approaches to sectors and niches
• the way firms measure and view the services they provide
• the culture of the firm

Clients and prospects really value solutions to the challenges that they face and there is huge potential for any firm’s to step up and redefine their role and impact with clients.

Pricing value is about comprehending value in the eyes of your client through developing a clear understanding of the root cause of their pain and demonstrating how the firm can create value through bespoke solutions.

Its then about capturing a commercial share of the value created and communicating the economic value of the solution to the client. This means developing a real understanding of, and belief in, just what value clients ‘get’ when you work with them.

We are usually asked help clients in two ways:

Solution 1) How to capture and communicate more value from existing work

Solution 2) How to adapt a ‘time on the clock’ culture and move fee earners towards a mindset and approach of value co-creation

Key messages and areas of focus

• Creating a catalyst for change
• Understanding what is required: Operational focus change, culture shift, people development and creating sector focus
• Understanding what is value to the client and how to create leverage
• Quantifying financial, strategic and personal pain – and the thirst for change
• Solutions not services
• Offering certainty and choice of the cure
• Pitching the offer – verbally and through written proposals
• Demonstrating proof
• Develop personal action plans using real clients and financial data
• Creating accountability processes to maintain momentum and embed learning

Email: kate@thegrogroup.com or call her on 01892 610060