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Bernero & Press, LLC
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Trusted Advisors to the Legal Profession
Trusted Advisors to the Legal Profession

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In law firm land, value pricing has achieved buzzword status, meaning that everyone uses the phrase with abandon and supreme confidence. (Actual adoption, of course, is another story.) But suspend disbelief for a moment: How might a legal market run on value pricing actually work?

http://ow.ly/zyeG30cqBFV

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Law firm partners are masters of identifying and discussing ad nauseam the factors and personalities that become barriers to achieving their business goals: partners who are coasting, highly paid partners with low productivity and no business development acumen, or, in some circumstances, lawyers with no practice who are doing downstream work or actively sabotaging firm efforts to increase profitability. Even firms with strong structures in place often lack the Will to Act and do the things that they know are essential to moving their firms to the next level.

http://ow.ly/ytnX307WTjO

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The core messages offered here are to stay close to your restless clients, step up to the challenges of managing your talent, and remember that you have a purpose beyond profitability. If you get those aspects right, your place in the pantheon will be secure.

http://ow.ly/dGDC307jfjb

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In an industry where the competition for legal work has intensified, clients’ legal budgets have remained flat or decreased, and procurement’s prominence is on the rise, law firms can no longer rely on competitive tactics that accentuate capabilities, expertise, and reputation above all else. Today, differentiating the client experience becomes a critical component of a law firm’s success.

http://ow.ly/oBuF304A6Pu

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Robust profitability models require historical research and data points to make certain that the firm has a solid understanding of its costs to get the job done. The demands of discerning clients for fixed-fee proposals, discounts, and alternative pricing, as well as the market pressure to remain competitive and provide “value for the spend,” make it imperative that law firms invest the resources necessary to accurately benchmark what it costs a firm to handle its signature matters.

http://ow.ly/rtLC304aGA8

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Veteran in-house legal marketers Bob Robertson and Stefanie Marrone have joined Bernero & Press, LLC as senior consultants. The arrival of Bob and Stefanie expand Bernero & Press’s capacity to help law firms address their most pressing opportunities and challenges in the areas of client relations, firm strategy, practice management, business development and marketing program assessment; training, pricing and partner compensation; content marketing and social media.

http://ow.ly/kwvp302RiWI

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Bernero & Press launches The Red Team, an elite service that provides marketing and communications professionals to law firms on a project basis.

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In my experience as a law firm leader and consultant, asking clients to provide candid comments about the services that a law firm provides can be essential to developing successful strategies as well as deepening relationships. In almost every other service industry where expensive, expert services are provided, there is a premium placed on the consumer’s views about the state of the relationship and the value received for the money spent.

"Eight Ways That Listening to Clients Will Improve Your Law Firm and Add Value to Your Client Relationships"
http://ow.ly/2nIh300XQiv

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At the annual Legal Marketing Association conference in Austin, a vendor conducted a survey that asked attendees what their “highest-priority growth initiatives” were for this year. The leading answer was “improve cross-selling.” I don’t doubt the accuracy of the survey results; they are the conventional wisdom in the flesh. But there is a serious problem with that strategy: For too many firms, cross-selling puts the focus on what the client can do for the firm (Buy more services!) rather than on what the firm can do for the client (Solve more problems!). Simply put, clients don’t want to be cross-sold.

"Are you selling, or helping?"
http://ow.ly/y7hE300uQcM

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Frustration arises in law firms from missed opportunities to generate new legal work that results from the partners’ ignorance of the panoply of resources available in the firm. Missed opportunities can result from entrenched behaviors of ring-fencing clients to maximize individual partner compensation an

Getting It Right: Designing Your Firm’s Compensation System to Reward Collaboration
http://ow.ly/4n4s7l
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