Call it whatever you like–elite, exclusive, gold package, platinum package, diamond package, deluxe package, or anything else that suggests a higher level of service and value. Or don’t give it a name at all. But do create a deluxe version of your services and offer it to your clients.
Doing so will allow you to appeal to the higher end of the market that wants or needs additional services, or wants more convenience or the personal touch and are willing to pay for it. You will appeal to a class of clients who want to know they are getting “the best” you offer.
With higher margins on your deluxe package you’ll earn more profit. You’ll also bring in better clients who can refer their well-heeled friends.
But something else will happen, even if you sell very few (or none) of your deluxe packages. The existence of the deluxe package will enhance the perceived value of your regular package.
Prospective clients who can’t afford or don’t want to spend $25,000 on your deluxe package will see your $10,000 package as more affordable and an easier decision. You are more likely to sell more of your regular packages, then, even if they are priced higher than what other lawyers offer.
It’s called juxtaposition. Each package looks different when compared to the other than it would look if you only offered the one. It also gives clients two options, to buy package A or package B, instead of choosing between package A and nothing.
Having a deluxe version also allows you to go back to new clients and offer to let them “upgrade,†giving you two bites at the apple.
What if you already cater to the high-end market and all of your offerings could be considered deluxe compared to what other lawyers offer? Go ahead and create an even more exclusive package. More value, even higher fee.
You could also consider creating entry-level packages that offer fewer services at a lower fee, to appeal to a segment of the market that currently passes you by. Some of these clients will want to upgrade at some point.
Can you do this with contingency fees? Why not? If your regular fee excludes trial, for example, for a slightly higher percentage your deluxe package could include it.
If you only offer hourly fees, it’s time to start thinking about offering flat fees and packages. You’ll thank me later.
Marketing legal services is more profitable when you know The Formula
