Regular Show: Client Maintenance Plans Are Picking Up Steam with Law Firms

As law firms (slowly) try to dig out from under the hourly billing model (trap?), a new sort of approach is starting to gain some ground.  It’s kind of like a legal insurance policy, and it allows law firms to acquire recurring revenue.  ‘Client maintenance plans’ are mostly being used by estate planning and elderlaw attorneys, at this stage – but, the model could also potentially be adopted by firms in other practice areas. 

Client maintenance programs are a spin on subscription services, where the client has access to included services, as well as regular updates to documentation.  For estate planning attorneys, that could include access to lawyers, updates to estate plans and document libraries.  Here's a useful article on how to build a client maintenance program, for an estate planning firm.  And, here’s how one law firm advertises such a program. 

 

But, launching a version of a client maintenance program, in another practice area, is just a matter of creative thinking – which it can also be in the estate planning world, as well, as lawyers seek to differentiate themselves from their competition.  It would be pretty easy for a thoroughgoing outside corporate counsel, for example, to generate a tailored program for her business clients. 

 

If you feel like your pricing has been getting you down, and as if you’re far too often trading time for money – there may be another pathway available to you. 

 

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Contact us today, to talk about how to shift your law firm pricing model. 

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

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