“Legal Market Pulse keeps us honest and helps prevent us from believing our own BS” Managing Partner, law firm
Beaton Research + Consulting is convinced the saying ‘Don’t believe your own BS’ is true for Boards and CEOs, as it is for the rest of us. That’s why we are so enthusiastic about our partnership with the Commonwealth Bank for the past three years. Through this we deliver otherwise unavailable information that guides strategic decisions by all the larger law firms in Australia.
The quarterly edition of the Legal Market Pulse provides law firm leaders with peer-sourced, reliable legal industry forecasting, business confidence and other lead indicators enabling them to make strategic decisions and budget with greater confidence.
It’s not conventional to talk of the professions ecosystem, but the idea certainly helps understand what’s occurring in so many aspects of professional life.
This post makes a small contribution to exploring the disruptive stresses and digital hope that are starting to characterise the professions ecosystem of the 21st century. (more…)
A recent post by Micah Solomon in Forbes on 10 trends in client service expectations (my paraphrasing of his title) caught my eye. When I taught industrial, aka B2B, marketing at Melbourne Business School the doctrine was consumer buying behaviour and B2B buyer behaviour are quite distinct in most respects.
Beaton's research amongst 10,000s of clients of professional services firms over the last 10 years shows that perceived price is positively correlated with the value perceived by clients. Yes, that's positively correlated. In other words, the higher the price, the higher the value perceived by current buyers users of the service.
In these days of enormous price-down pressure on every firm in every profession, this finding – that perceived price is positively correlated with perceived value – warrants repeating. And explaining. And testing. And learning to use in practice. That's because it's seems at odds with everyday experience of firms. (more…)
Selling professional services has never been harder. Competitive intensity is increasing within and amongst the professions, especially law and accountancy. The winners are focusing on delivering great client service experience – the losers are focusing on sales. Now read on.