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How Law Firms Can Use Psychology To Make More Money

Law360, Chicago (May 15, 2018, 8:10 PM EDT) -- Law firms currently lag behind much of the corporate world when it comes to using psychology to price the services they sell, and in doing so firms may be missing out on a good deal of potential revenue, according to a speaker at the Legal Marketing Association’s P3 conference in Chicago Tuesday.

Behavioral economics applies psychological insights to human behavior in order to explain buying decisions. The field presents huge opportunities for law firms in their relationships with corporate clients, said Richard Burcher, a longtime pricing...
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