Counting the Cost: The Psychology of Pricing

Most buying decisions are emotional journeys – some short, some long. 

 

Why did you buy the candy in line waiting to check out at the grocery store?  Your kid was being obnoxious, and you wanted to shut them up, haha. 

 

Why did you buy that boat?  Your Dad had a boat, and you always wanted one, too.  It only took 20 years to get it. 


 

There are a lot of emotional buying decisions that happen in legal, as well. 

 

No one really buys an estate plan – they want peace of mind for their family. 

 

No one really buys a set of business formation documents – they want to protect their assets against seizure. 

 

Smart attorneys don’t just set prices; they have an understanding of the psychological components of pricing. 

 

Want to get a better handle about how the way you relay pricing information affects consumers?  Check out Nick Kolenda’s infographic-laced site, which is sure to blow your mind. 

 

. . . 

 

If all this makes you want to reset your pricing model, give us a call.  We can help. 

Through a unique partnership between the bar association and Jared Correia's Red Cave Law Firm Consulting, National Creditors' Bar Association members have access to experienced law practice management consultants at a special discount rate.

To get started, visit Red Cave's NCBA landing page, and start running your law practice like a business.

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