Building a New Service for Attorneys
An established legal services provider wanted to launch a brand new information service for its subscriber base of attorneys. Provider came to TRC looking for guidance in how to price this information service when marketed as a core service, as well as the cost of breaking it apart into options. Which service would attorneys find more valuable? Which options stood apart? Which options could be bundled together? And perhaps most importantly, what were the most important features (in any combination) from which to build strong marketing messages?
TRC viewed this as a complex task for two reasons. The data not only had to be streamlined, but also prioritized. Surveying busy attorneys who have very little time in their schedules was going to be another challenge. Bracket™ helped prioritize the features and benefits of the core module, as well as the options. A Discrete Choice Conjoint Analysis allowed the attorneys to build the ideal combination, choose which features they would most likely use, thereby determining the packages they would pay for, and most importantly at what price.
Successful Results Implementation
After the research was conducted, this service provider could now price all modules appropriately, while focusing marketing on the features and benefits that attorneys found most valuable.