?? Is your pricing too low? [LTG Newsletter #60]

This week's newsletter takes about 3:45 minutes to read

Welcome back, Legal Tech Growers!?If you're one of the 10 new readers that joined this week, thanks for joining us?-- be sure to connect with me on LinkedIn!

This week we're covering:

?How to optimize your pricing page

?Growth Jobs from ContractBook, Athennian and Legartis

?New legal tech startup spotlight - Probability Law

?Articles from Law.com

?Growth tool of the Week - Price Intelligently

ON GROWTH -?How to Better Pricing Pages

This is an excerpt from The LegalTech Growth Course on Patreon.?Learn more about how the Legal Tech Growth Course can help your startup get traction and scale quickly, here.

This might be an obvious point, but people checking out your pricing page are usually pretty interested in your product. Question is -- how do you engage them properly?

Here's one idea: Make highly valued features, free.

Why would you do that -- here's the logic.

Before: "$100 per month for up to 10 hours of transcription"

What your buyer thinks → "10 hours for $100 is $10 per hour. That's pretty pricey..."

After: "$100 per month for 10 hours of transcription.?Your first 1000 subscribers are free!"

What your buyer thinks → "$100 is pretty cheap for what I'm getting..."

In this example, the offer is the same but the packaging makes it feel like the value is much higher by highlighting the free user limit (which the other pricing package did not).

Remember - perception?is?reality and when it comes to pricing everyone wants to "feel" like it's a too good to be true offer...so sculpt it that way.

NEW LEGAL TECH JOBS!

Continuing our collaboration with the great?Legal Tech Jobs, here's a curated list of some of the hottest jobs in legal tech growth!

CONTRACTBOOK?is hiring a Business Development Rep

ATHENNIAN?is?hiring a Sales Development Manager

LEGARTIS?is?hiring a Head of Marketing

KUDOCS?ishiring a Sales & Account Manager

PING?is?hiring a Product Marketing Manager

CAPDESK?is?hiring a Marketing Operations Manager

HENCHMAN?is?hiring a Sales Development Rep

LEXLY?is?hiring a Growth Data Analyst

WAIT, STOP!

Are you a?Lawyer?looking to jump into a legal tech growth VP role?_

If so, then?check out my soon-to-be-launched LAWYER TO LEGAL TECH EXEC course?designed to help lawyers transition out of law...and into a legal tech VP role.

You can lock in your pre-launch low price now!

LEGAL TECH STARTUP INTRO

Thanks to?Legal Tech Product Channel?and?LegalPioneer?for the newest list of legal tech startups. Let's meet this week's new company!

Company:?Probability Law by Litigaze

Value Prop:?"Give your clients the?real?probability of case outcomes"

Market:?Global

Target:?Lawyers, Law Firms, In-House Counsel

Price:?FREE

Contact:?Len Hickey

LTG Comment: Probability Law seems to be a engineering-as-marketing play by Litigaze, that introduces core value to users in a delightful way. Love it.

LEGAL TECH READS

Thanks again to?Charlie Uniman and the Legal Tech Startup Focus?for sourcing some more good stuff for us!

Baker McKenzie Invested in Innovation Leaders Who Are Now Gone. What Are the Lessons for Other Firms?

Tweetable:?"So the move makes sense for Cambria. PwC likely has the commitment and—with $43 billion in global revenues in 2020—certainly has the resources to build a top-notch business of law offering. But that size, nearly nine times larger than Kirkland & Ellis, also could be a limitation."_

LTG Commentary: There's SO much in this article but my biggest takeaway was - again - the idea of how ALSPs are for now "partnering" with law firms, as somewhat strange bedfellows.

HOT TAKE: Right now law firms leverage law companies for best-in-class service delivery (which their "culture" doesn't seem to support)....but how long will it be until that dynamic is flipped and Law Companies start leveraging law firms as client lead. Very interesting times ahead.

FAVORITE NEW GROWTH TOOL

Finally, let's get to tools. This week's post was all about pricing strategies, so this week's Growth tool of the week is...

*Price Intelligently

Price Intelligently helps subscription software products optimize their pricing based on data, industry benchmarks + strategy services. You can get started with a free pricing audit.

Check out Price Intelligently here!

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That wraps up another week. See you next week and as always -- let's grow!

Ben