Tag Archives for " market comparison "

New Customers Are Treated Like Royalty

By Kate | Contract Negotiations , Pricing , White Papers

It is not unheard of for companies to offer sweet deals to lure in new customers. “Save $15 off your next Lyft or Uber ride”, only to look up the promotion and find out that you are not eligible because it is reserved for new customers.

Similarly, new customers of Lexis and Westlaw are enticed with great pricing, content sets, and contract terms. If your firm has been a long-time customer of either vendor and has not received recent price reductions, it is highly likely that your contracts are unfavorable.

Find out today how your firm’s contracts compare with the market. Feit Consulting offers contract benchmarking services and products, including our white paper, Optimizing Legal Information Pricing.

Of course usage matters!

By Michael Feit | Best Practices , Contract Negotiations , White Papers

Usage is the purest barometer of how valuable a tool is to an organization. How much you use any product or service is your best indicator of how valuable it is.

So maybe this is why legal information vendors no longer want to talk about usage. If it is clear that usage has declined, then discussing this would undermine any reasoning for an increase in your next contract.

When Lexis and Westlaw considered usage as a factor in pricing, many big-city and larger Am-Law firms had the highest usage. Therefore, these firms were unfortunately locked in at higher pricing than the rest of the market.

Today, while these vendors do not recognize usage as a relevant factor, this does not mean your firm should acquiesce.

If your firm is curious about metrics to use in contract negotiations and how your firm compares to the market, consider our next report, Optimizing Legal Information Pricing.