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Podcast: Lawyer Business Advantage
Episode: Is a drop-off in conversion rate a sign that your hourly rate is too high?
Description:
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A sudden decrease in your conversion rate after raising your rate could indicate that your hourly rate is now too high. If you notice that fewer clients are retaining your services after a rate increase, it may signal that you’ve priced yourself out of reach for your typical clientele. This drop-off could result from clients being unable to afford the higher rate or finding legal services elsewhere for a lower cost. To address this issue, you can consider adjusting your rate back down or focus on marketing to attract clients who can afford your new rat...