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    EPP Events

Pricing in Professional Services - 2019 - NEW !

24/09/2019 - 25/09/2019
9:00 AM - 5:00 PM (2 days)
1,695.00 Non-member rate.

Successfully Competing on Superior Value

Pricing has a greater impact on profitability than any other lever, yet many professional service firms lack confidence in their pricing strategy. This workshop provides a comprehensive framework for assessing your firm’s approach to pricing. The workshop is illuminated with numerous case studies and encourages participants to identify opportunities to drive revenue and profit growth within their firm.

Never before has the pricing of professional services received so much attention. Most clients have significantly evolved their approach to purchasing professional services and are demanding more from firms – for less. More than ever before, firms are being required to justify their price. Failure to do so results in price erosion or the loss of business.

In today’s market, Professional service firms must develop their pricing competence in order to effectively deal with these increasing client pressures.

 

01. What ?

The Masterclass is designed to :

a) develop the pricing capability of participants and

b) to help identify specific pricing opportunities that can be immediately realised by their firm.

This is an intensive, interactive 2-day training. It alternates interactive lectures with exercises and group discussions in all sessions.

It is the premium pricing training in Europe focused on the professional services industry sector.
This has been successfully delivered to professional services firms globally for over 10 years.

02. Objectives

By attending this training, you will achieve two key objectives:

  • develop and enhance your existing pricing capability, and
  • identify specific pricing opportunities that can be immediately realised by your firm.

This will be achieved by:

  • Develop stronger pricing capabilities, irrespective of your current role by:
    • Developing a comprehensive understanding of pricing theory and practices relating to professional services
    • Learning how to credibly demonstrate value to clients and how to increase price-setting discretion
    • Developing your knowledge on how to successfully price projects and explore various pricing tactics designed to avoid competing on price
    • Understanding leading pricing practices within the professional service market
    • Exploring various pricing strategies designed to increase profit margins and market share
  • Be able to successfully identify further opportunities to improve your firm’s pricing approaches by:
    1. Conducting a comprehensive assessment of the firm’s pricing and integrate into a pricing strategy
    2. Identifying methods of building your firm’s pricing capability
    3. Reviewing different approaches to managing the pricing function and establishing pricing policies
    4. Identifying and prioritising opportunities to improve your firm’s pricing outcomes (including understanding how other Professional Service firms have significantly improved their pricing outcomes)

This is your opportunity to learn, discuss and reflect how to optimise your value based pricing !
 

03. Programme

Day 1 (9.00am - 5.15pm)

 

Session 1: Contemporary pricing theory as it relates to the professional services market

  • Successful pricing
  • The impact of price
  • Methods of setting a price
  • How clients assess your price
  • Managing pricing within a law firm
  • Improving price setting discretion

09:00-10:45

 Break

10:45-11:00

Session 2: Price positioning and pricing structures

  • The implications of different price positions
  • A taxonomy of fee structures
  • Dealing with the shift away from hourly rates
  • Understanding and using appropriate fee arrangements (AFAs)
  • Dealing with client requests for innovative fee structures

11:00-12:45

Lunch

12:45-13:30

 

Session 3: Assessing costs and competition

  • The implications of different costing assumptions
  • Assessing matter profitability
  • Establishing a competitor intelligence system
  • Combating commoditisation
  • Competing with low ball bids
  • Client views on the commoditisation and differentiation of professional service firms

13:30-15:15

 Break

15:15-15:30

Session 4: Competing on Superior Value

  • Understand why it’s critical to communicate the value delivered
  • Explore a comprehensive framework for identifying how professional service professionals create value for clients
  • Improve our understanding of how we add value to clients
  • Develop greater confidence in communicating and credibly demonstrating the value delivered to clients

15:30-17:15

Day 2 (9.00am - 5.00pm)

 

Session 5: Improving the Creation and Management of Estimates

  • Understand different reasons clients seek estimates
  • Understand alternative methods of creating an estimate
  • Obtain practical tips for improving success rates when providing estimates
  • Explore how to respond when the client says the estimate is too high
  • Explore how to deal with cost over-runs

09:00-10:45

 Break

10:45-11:00

Session 6: Successfully Competing On Price

  • Pricing tactics designed to avoid competing on price
  • Practical approaches to segmenting clients to improving pricing outcomes
  • Pricing strategies for price-sensitive and price insensitive markets
  • Dealing with procurement professionals, intermediaries and 3rd party influencers

11:00-12:45

Lunch

12:45-13:30

Session 7: Leading Pricing Practices within Professional Services

  • Best practices in professional services pricing
  • The keys to improving a firm’s pricing performance
  • Developing your firm’s pricing roadmap
  • Assessing your firm’s pricing performance

13:30-15:15

 Break

15:15-15:30

Session 8: Improving your firm’s pricing outcomes

  • Explore different change management models relevant to professional service firm pricing
  • Case studies of how firms have transformed their pricing performance
  • Identifying and prioritising opportunities to improve your firm’s pricing outcomes

15:30-17:00

Wrap-up, feedback, next steps

 

04. For whom ?

This training is for anyone who wants to improve their knowledge of the latest best practices in pricing and market access for professional services. 

This will include those in dedicated pricing functions, Chief Financial Officers and others in key finance positions, Chief Marketing and BD Officers and others in key BD and Marketing positions, Managing Partners, Practice Group Heads and Partners who have direct client facing roles.

 

05. Group rates

  • BRING A COLLEAGUE AND GET -25% DISCOUNT ON BOTH TICKETS
  • REGISTER WITH 3 AND PAY ONLY 2+1 FREE !

EPP member ? Log-in to get your member discount. 

Find all your benefits in the membership area.

 

06. Included in the registration fee

The training fee includes :

  • Course material - print and digital
  • Coffee, tea & refreshments during the course
  • Lunches during the course

It does not cover travel, accommodation or other incidentals.  We recommend you to book your flights/travel/accommodation in advance to avoid last rates.
We try to negotiate special hotel rates if possible - please ask the hotel for the best rates.

If you have special requests, or you prefer a customised pricing programme, please connect with Lena Chatchatrian : lena.chatchatrian@pricingplatform.eu

 

07. Trainer

Trainer

Stuart Dodd - Principal at Postive Pricing

Stuart Dodds has over 25 years of professional service pricing experience and was one of the first and longest serving pricing and legal project management directors in the legal industry as of 2008. Prior to this Stuart worked as a Management Consultant for 17 years in a variety of strategy, supply chain, negotiation and procurement-facing roles across many industry sectors initially for Andersen Consulting/ Accenture (14 years) and then Efficio, a specialist procurement and negotiation consultancy (3 years). This enables him to a practical approach to pricing based on a solid theoretical foundation. 

He is an accredited Certified Pricing Professional (CPP), Accredited Legal Pricing Professional (ALPP), and Accredited Legal Pricing Manager(ALPM). He also sits on a number of industry- related advisory bodies, and is a Fellow of the College of Law Practice Management. Stuart is also frequent speaker at conferences and is extensively quoted in pricing and project management publication and journals, and was the author of the first book covering law firm pricing, negotiation and legal project management, 'Smarter Pricing: Smarter Profit', published by the American Bar Association in May 2014, and the editor of, and main contributor to, 'Pricing on the Front Line', published by the American Bar Association in January 2017.

 

24/09/2019 - 25/09/2019
9:00 AM - 5:00 PM (2 days)
1,695.00 Non-member rate.
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