I’m a big fan of the Legal Research Plus blog from Stanford. Paul Lomio’s post this morning caught my eye, and it really hit the mark. Paul compares pricing he just received from a legal information vendor with a recent article in Businessweek. Paul quotes from the article:
Bargains are everywhere in America these days. Men’s shirts and sweaters were 3.4 percent cheaper this April than a year earlier. Prices also fell for eggs, peanut butter, bananas, potatoes, hotel and motel rooms, cosmetics, curtains, rugs, tools, and lawn care. Excluding gasoline and other energy items, the consumer price index rose just 0.9 percent for the year. . . .
But the pricing he just received for a multi-year legal information contract includes a “below average” increase of only 3%.
I can literally feel his frustration through my computer screen, and why shouldn’t he be? Why do some legal information vendors believe that they can continue “business as usual” ? Everyone’s costs have gone up, so that is no excuse. The big difference is that everyone else is fighting for your dollar, and using the standard technique to get it: lower prices.
Bottom line…it happens in this industry because they believe that they can.You can’t live without their service, so you are forced to acquiesce to their demands.
But guess what? They can’t live without you either…