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Developing and Implementing an Annual Rate Increase

Domain: Business of Law

This presentation outlines a best practice for implementing a yearly price increase program. The presenters will begin with an overview of a prior process outlining some of the challenges and inherent flaws in the approach, then cover how to think about segmenting your current clients and pricing arrangements based on the underlying financial performance, AFA type and client size. With the segmentation complete, we'll show how each segment can be treated differently resulting in a much more streamlined process and a targeted focus on the worst performers and largest clients.  They will also discuss the many benefits including how this approach helps accelerate the timeline because it allows you to set your pricing strategy at the client level before setting the new firm-wide standard rate card.

Presenters:
Michael Boussy, Ropes & Gray
Bryan Chu, Ropes & Gray LLP

Member Price: $59
Prospective Member Price: $79

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Video-Recorded Session

This session includes video, audio and synced presentations for an enhanced virtual learning experience.