{"id":296512,"date":"2025-06-16T06:12:30","date_gmt":"2025-06-16T06:12:30","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/rate-increase-turning-pricing-discussions-into-opportunities\/"},"modified":"2025-06-16T06:12:30","modified_gmt":"2025-06-16T06:12:30","slug":"rate-increase-turning-pricing-discussions-into-opportunities","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=296512","title":{"rendered":"Rate Increase | Turning Pricing Discussions Into Opportunities"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"content\">\n<p><strong><em>Clients appreciate when their lawyers take a businesslike approach to rate increase discussions.<\/em><\/strong> <\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p>When responding to pushback on their fees, lawyers often fail to make their case compelling. As a result, they fold too quickly.<\/p>\n<p>Not every client is going to embrace a rate increase enthusiastically, of course, but pricing conversations\u2014and they should be conversations\u2014will go much better if you use the opportunity to explain the value of the work you do and the reasons for the increase. <\/p>\n<p>Here are some tips for managing the discussion.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-understand-the-client-s-budgeting-process\">Understand the Client\u2019s Budgeting Process<\/h2>\n<p>To increase your odds of success, you need to understand the client\u2019s situation. For example:<\/p>\n<ul class=\"wp-block-list\">\n<li>Do you know who approves increases, and when that happens? Do you know the client\u2019s fiscal year? If you don\u2019t time your request to fall before the new budgeting cycle, it will make it difficult to get approval.<\/li>\n<li>Do you know what\u2019s happening with the client\u2019s business? If the client is struggling, it will be difficult to get a rate increase.<\/li>\n<li>What would work best with the client\u2019s budgeting process? For example, an incremental increase each year may be better received than a large increase every few years.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"h-communicating-about-the-rate-increase\">Communicating About the Rate Increase<\/h2>\n<p>It is best to discuss rate increases one-on-one as opposed to sending a pro forma letter or email (or worse yet, an invoice with an increase that hasn\u2019t been discussed). This will help clients feel they are part of the process. For example:<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-make-the-case-for-increasing-your-fees\">Make the Case for Increasing Your Fees<\/h2>\n<p>This is your chance to remind clients about the work you\u2019ve done in the past and the value you have provided. For example:<\/p>\n<ul class=\"wp-block-list\">\n<li>Be prepared to discuss successful results, goals you helped the client reach or savings you achieved through negotiations.<\/li>\n<li>Explain your rationale for a rate increase. Is it a standard increase due to the cost of doing business? When was the last rate increase discussed? <a href=\"https:\/\/www.clio.com\/resources\/legal-trends\/compare-lawyer-rates\/\" target=\"_blank\" rel=\"noreferrer noopener\">Is it fair in relation to the market?<\/a><\/li>\n<\/ul>\n<p>Clients appreciate when their lawyers take a businesslike approach to the discussion of fees. Clients want and expect conversations about costs so they can budget and manage the expectations of their internal stakeholders. Your preparation and approach will have a direct impact on whether you\u2019re successful in raising your fees.<\/p>\n<p>\u201c<a href=\"https:\/\/www.attorneyatwork.com\/legal-pricing-good-lawyers-talk-money-with-clients\/\" target=\"_blank\" rel=\"noreferrer noopener\">Good Lawyers Talk Money With Their Clients\u201d<\/a><\/p>\n<p>\u201c<a href=\"https:\/\/www.attorneyatwork.com\/dont-be-afraid-to-raise-your-legal-fees\/\">Don\u2019t Be Afraid to Raise Your Legal Fees<\/a>\u201c<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<h2 class=\"wp-block-heading\" id=\"h-subscribe-to-attorney-at-work\">Subscribe to Attorney at Work<\/h2>\n<p>Get really good ideas every day for your law practice: <a title=\"Subscribe to Attorney at Work\" href=\"https:\/\/www.attorneyatwork.com\/subscribe\">Subscribe to the Daily Dispatch<\/a> (it\u2019s free) or Weekly Wrap. Follow us on Twitter @attnyatwork.<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Clients appreciate when their lawyers take a businesslike approach to rate increase discussions. When responding to pushback on their fees, lawyers often fail to make their case compelling. As a result, they fold too quickly. Not every client is going to embrace a rate increase enthusiastically, of course, but pricing conversations\u2014and they should be conversations\u2014will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":296513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128347,128348,128349,97338,128350,128351,12386],"tags":[31576,11096,14445,14980,1485,10965],"dealstore":[],"offerexpiration":[],"class_list":["post-296512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-development","category-digital-marketing-for-law-firms","category-law-firm-blog","category-law-firm-marketing","category-lawyer-social-media","category-legal-marketing-play-to-win","category-podcast","tag-discussions","tag-increase","tag-opportunities","tag-pricing","tag-rate","tag-turning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rate Increase | Turning Pricing Discussions Into Opportunities - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=296512\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rate Increase | Turning Pricing Discussions Into Opportunities - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Clients appreciate when their lawyers take a businesslike approach to rate increase discussions. 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