Things must change
As anyone who has attended a #GlenLegal event in the past will tell you, the comfort of our venues is paramount. We have made no exception this year. The beds at Goodwood House Hotel, the fantastic venue for #GLR 2.3, are exceptionally comfortable! However, there are two bedfellows with which #GLR 2.3 will take a quizzical look at LegalTech the way it is sold and the value it creates.
At #GLR 2.3, we aim to explore and discuss some difficult issues. We will take a look at value in the legal sector. In particular, what appears to be new trends, including value-based pricing, where you look to price clients, not the job.
Subscription-based pricing think of Netflix and your phone subscriptions, and then apply a consumer subscription model to an operating law firm. It can be done; it has been done, and other sectors have embraced it. Implementing a subscription business model for firms is hard work and not for everyone because it requires professionals to think differently than they have in the past about what it is exactly, that customers value and what you are asking them to pay for.
During our event, delegates will learn:
- The advantages of ditching the billable hour and embracing value pricing in the legal sector
- The benefits that value pricing brings to clients, law firms, and, most importantly, the lawyers
- Removing the artificial fee cap imposed by the billable hour and increasing profit on the bottom line.
- How a subscription model may become a reality
- How buyers of legal tech should engage with sellers to achieve a "win-win"