Run it Past the Firms’ Pricing Manager - Who?

Run it Past the Firms’ Pricing Manager - Who?

In 2016 Forbes magazine ran an article entitled, ’10 Jobs That Didn’t Exist 10 Years Ago’. It’s a bit of a cliché but everyone understands the concept that jobs which could not have been conceived of a few years ago, emerge from the employment primordial ooze to address the needs of the day.

The article cites examples such as: app developer, market research data miner, educational admissions consultant, millennial generational expert, chief listening officer (I kid you not!), cloud computing consultant, elder care consultant, sustainability expert, user experience/user interface designer and social media manager.

Indeed, we could add to this list without any hint of irony, international legal services pricing consultant.

Does your firm need a pricing manager?

For the legal industry, a new breed of professional has been emerging over the last 10 years – the Pricing Manager/Pricing Director.  As pricing analysis, policy and strategy becomes increasingly important for firms’ competitiveness and profitability, they are looking for increased expertise in the area.  This is proving to be a huge challenge because the skill-set for the role is a rather unique one, falling as it does in a sort of no-man’s land between finance, business analytics, business development, marketing, sales and delivery/performance of the legal service.

While there is no shortage of financial and analytical skills in well-resourced firms, what is often missing is the ‘bridge’ between this analytical approach and the subtleties and nuances of the sector.

It is often said that pricing is a blend of art and

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