When it comes to pricing your services it’s often difficult to find that “sweet spot”. Typically, competitive pricing is associated with the cheapest rates. However, there’s something to be said about becoming the premium offering in your practice areas.
This means you price your services higher than the competition and simply offer more. If your clients can gain value from your services, then your price point can be easily justified.
On the contrary you need to be absolutely sure you’re on top of it. If you promise premium and deliver a sub-standard experience, you’ll have a hard time recovering since there are so many cheaper virtual paralegals available.
You do not want to be the cheapest virtual paralegal on the market. You may get clients, but the buzz will eventually die down and it will be difficult for you to increase your fees to be profitable. Focus on the value of your services and demonstrate to your clients why your services will make their law practice profitable.
Increase your fees as your practice areas become more competitive; the quality of your services will differentiate you from other virtual paralegals. If virtual paralegals who offer similar services offer retainers, figure out a way to package your services on a flat fee basis.
Add a price comparison chart to your website, blog and marketing kit. Invest in your branding and market your business as the top tier of your practice areas.