Reduced Fees Often Equals Reduced Expectations

Two weeks ago I posted some thoughts on how discounting your price can be a path to slow-payment, hassle, repeated requests for reductions in fees and ultimately non-payment. Today I want to expand on those thoughts.

One of the maxims that still holds true today is “You get what you pay for.” In many areas of life, it is true. The cheap toys and tools available in the discount bins at the dollar store often do not have the service life span that higher-quality, and more expensive products enjoy. That perception is deeply embedded in American consumer culture, so use it to your advantage.

We have all seen the studies of cars where the price and quality are not always directly linked. Some brands have a reputation for higher quality that is undeserved or based on older thinking, yet they continue to charge prices that seem to be too high for the value received. We have also seen the studies where high quality items were discounted, and the consumer viewed them as inferior to the higher-priced items.

Legal services are much the same way. If you discount your rates, prospective clients are more likely to think your service is of a lesser quality than that of attorneys who do not discount. Regardless of the quality of the service, the perception will rule the day.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Law Firm Marketing Experts, The Rainmaker Institute | Attorney Advertising

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