how to avoid commoditization lawyer

Avoiding the Commoditization of Your Law Practice

• Develop the expertise and reputation to attract matters involving big dollars and bet-the-company issues. . That...
• Move to a smaller town where legal services are not as readily available and relationships are easier to develop..
• Differentiate your firm by the manner in which services are delivered. Give extraordinary...

Full Answer

How can a marketer deal with commoditization?

Marketers can do three things to fight the inevitable forces of commoditization: Innovate. A new product that better meets consumer needs, even an upgrade of an existing product, can one-up competitors and force them to invest in matching or exceeding the new specifications. Bundle.

How can you protect your business from commoditization?

Ensuring that your organization has a superior process for guiding customers to make the best decision based on tangible measurement of your unique value is your strongest defense against commoditization. It can enable you to more successfully compete--and win--in a competitive market.

Is self-commoditization threatening your business?

Today self-commoditization can significantly threaten just about any company's success and profitability, whether you produce consumer products or complex business-to-business services and solutions. Ineffective sales processes and behaviors are probably the biggest cause.

How can marketers fight the inevitable forces of commoditization?

Marketers can do three things to fight the inevitable forces of commoditization: Innovate. A new product that better meets consumer needs, even an upgrade of an existing product, can one-up competitors and force them to invest in matching or exceeding the new specifications.

How do you fight commoditization?

Marketers can do three things to fight the inevitable forces of commoditization:Innovate. A new product that better meets consumer needs, even an upgrade of an existing product, can one-up competitors and force them to invest in matching or exceeding the new specifications.Bundle. ... Segment.

How do you avoid commoditization traps?

4 Tips To Avoid the "Commodity" TrapInnovate Your Value. Get out to meet your customers with intent and listen more closely to their concerns. ... Have the Right Pricing Structure In Place. Look at how you're setting your pricing. ... Target the right customers. ... Compensate for the Behavior You Want from Your Employees.

Can lawyers poach clients?

Stealing clients from the firm can be a breach of fiduciary duty. Take, for example, the case of the Dowd and Dowd firm. When two partners decided to leave, they used confidential information to secure funding for a new firm, secretly contacted clients, and poached employees.

Can lawyers be unethical?

Attorney misconduct may include: conflict of interest, overbilling, refusing to represent a client for political or professional motives, false or misleading statements, knowingly accepting worthless lawsuits, hiding evidence, abandoning a client, failing to disclose all relevant facts, arguing a position while ...

What does commoditization mean?

1 : commodify commoditizing bandwith specifically : to render (a good or service) widely available and interchangeable with one provided by another company. 2 : to affect (something, such as a brand or a market) by commoditizing goods or services fierce competition threatened to commoditize prices.

What is a commoditized category?

Key Takeaways "Commoditize" refers to a process in which a product is essentially deemed identical to the same class of offering presented by a rival company. Commoditized products allow consumers to make purchasing decisions based solely on the price-tags of the item in question.

How can we stop poaching clients?

A non-solicitation agreement is an in-depth way to cover poaching. With a non-solicitation agreement, you specifically ask contractors to sign an agreement stating they won't solicit your company's clients or employees up to a designated time period following their work with your business.

What are the exceptions to solicitation allegations?

There are essentially only three exceptions to such contact: (1) direct contact with clients with whom the lawyer has had a prior professional relationship; (2) direct contact with individuals with whom the lawyer has an established personal relationship; or (3) solicitation of clients for “political” purposes rather ...

What does it mean to solicit a client?

The term usually refers to directly asking potential customers to purchase goods or services, rather than using advertisements. Freelance contractors and other independent business owners often engage in solicitation to seek new customers.

What should you not say to a lawyer?

Five things not to say to a lawyer (if you want them to take you..."The Judge is biased against me" Is it possible that the Judge is "biased" against you? ... "Everyone is out to get me" ... "It's the principle that counts" ... "I don't have the money to pay you" ... Waiting until after the fact.

Do lawyers cheat their clients?

Yes, some lawyers lie, cheat and deceive their clients. But they are the exception, and an embarrassment to most lawyers.

What is the most common complaint against lawyers?

Perhaps the most common kinds of complaints against lawyers involve delay or neglect. This doesn't mean that occasionally you've had to wait for a phone call to be returned. It means there has been a pattern of the lawyer's failing to respond or to take action over a period of months.

How to avoid commoditization?

So, how do you and your company respond? In an excellent Fortune article, Verne Harnish (founder of Gazelles, Inc., and author of Scaling Up) focuses on simple strategies to help your company stand out, avoid commoditization, and maintain healthy margins. Here are five ways to avoid commoditization in your business: 1 Create a third market place 2 Target the right customers 3 Add a dose of expertise 4 Don’t keep them (customers) waiting 5 Amp up the personal touch

What is the effect of commoditization?

The key effect of commoditization is that the pricing power of the manufacturer or brand owner is weakened: when products become more similar from a buyer’s point of view, they will tend to buy the cheapest. [1]”. Decreasing profits and increasing competition characterize commoditization.

Why do law firms use the same methodologies?

Also, lawyers can often use the same methodologies on their own when their law firms are not able to support these efforts. The complication is that most lawyers are unaware of how to translate their expertise into becoming a thought leader.

What happens when multiple law firms perform the same work equally well?

When multiple law firms and multiple lawyers can perform the same legal work equally well, there is commoditization – a primary disruptor of the legal industry. Many law firms suffer from “commoditization denial.”. The partners in these firms fail to recognize that their offerings are fungible making them interchangeable with their peers.

Is legal work a commodity?

Specifically, if a legal matter does not contain elements of bespoke expertise requiring the involvement of high-stature specific partners but can be handled by a number of different partners, then the legal work is a commodity. For lawyers to overcome the commoditization crisis in legal services, they need to focus on positioning themselves ...

How do marketers fight commoditization?

Marketers can do three things to fight the inevitable forces of commoditization: Innovate. A new product that better meets consumer needs, even an upgrade of an existing product, can one-up competitors and force them to invest in matching or exceeding the new specifications. Bundle.

What is the most overlooked investment a marketer can make in advance of inevitable commoditization?

The most overlooked investment a marketer can make in advance of inevitable commoditization is a customer relationship management system that permits computation of the profit margin associated with each customer, based on price-paid less cost-to-serve.

When raw material has no value added, what is the opportunity?

The truth is, even when a raw material has no value added and quality standards are set by law or the industry, there is still plenty of opportunity for differentiation around availability, delivery, shipment quantities, payment terms and all the other services that accompany the core product.