As a former Am Law partner who has also advised corporate legal departments, I’ve seen pricing dynamics from both sides of the table. I know how much hinges on the moment when a client decides whether to engage outside counsel.

That moment, the buying moment, is not just a transaction. It’s a strategic opportunity for firms to show they understand what clients value and to demonstrate that they can deliver it with predictable cost and positive outcomes.

Clients today expect value, predictability and transparency. They have better data and sharper expectations than ever before, and they are ready to act on them. Firms that approach pricing without data and technology are leaving money and relationships on the table.

Clients Are Ready for Change

At the Legal Operators “Summit by the Sea”, one theme came through loud and clear: buyers of legal services want pricing to reflect outcomes, not hours.

As Léo Murgel of Salesforce put it: “The legal industry is at a pivotal moment… it’s time for a widespread shift to outcome-based pricing.”

A week after I sat on a panel discussing this very point, my colleagues at BigHand (Bri, Eric and Rob) attended LVNx in Chicago - the largest annual event for law firm pricing professionals. In one session, the moderator asked for a show of hands: “Is this a buyer’s market or a seller’s market?”

The room was almost evenly split. That says a lot: either many firms are behind in responding to client demands, or buyers have yet to be fully clear and consistent in communicating their expectations and how they define a successful relationship.

The gap is visible in the data from the 2025 BigHand Pricing Trends Report:

• 41% of law-firm leaders expect AI-driven efficiency to increase pricing pressure within two years but…
• Only 34% have changed their pricing models in response to AI.
• 36% say they lack the data to evidence the value they deliver with AI-enabled work.

Clients notice the disconnect. As Elizabeth Miller of Delta Dental put it: “Clients know the tools exist, and they expect outside counsel to keep pace.”

Law Firms Must Own the Buying Moment

The buying moment is when the client is most focused on value and when firms can most powerfully differentiate themselves.

To do that, firms need to meet clients at the intersection of value and price by:

• Presenting clear, data-driven budgets. This isn’t just good for clients; the report shows 99% of respondents confirmed matters with budgets achieve higher realisation, up 7%.
• Explaining how technology, especially AI, is influencing the cost of delivery and showing clients how efficiency benefits them, not just the firm.
• Aligning pricing with the results clients care about, rather than defaulting to hours worked.

Owning the buying moment is about credibility and trust. You must speak the language of your clients - business outcomes, predictability, transparency - and back it up with data.

Technology as the Enabler

Another key takeaway from both the Pricing Trends Report and the two conferences was: technology is transforming legal work, but too often it is not transforming how it’s priced.

Law firms are investing in pricing professionals and finance specialists, but investment in tools these professionals need to succeed often lags behind. Many firms still rely on spreadsheets that can’t handle today’s demands for alternative fee arrangements grounded in data, real-time budget updates, and visibility into matter profitability.

Generative AI is already reshaping delivery. But as the Legal Operators panel underscored, there’s still a lack of clarity around how to capture and report the value created by these tools.

This is where technology like BigHand Matter Pricing comes in. By equipping firms to leverage historical data, model scenarios, build budgets, forecast costs, and collaborate transparently with clients, it closes the loop between efficiency gains and pricing innovation.

Human Capital Is Still the Foundation

“Despite the hype around AI… human capital remains the economic foundation of the business of law. By moving too slowly on education in client profitability, cost-to-serve and pricing strategies, firms risk undermining their own margins and leaving lawyers unable to deliver advice that balances client value with sustainable profitability.” - Patrick Fuller, ALM

The buying moment isn’t just about the math; it’s about demonstrating commercial acumen. Yet the report shows only about a third of firms provide structured training on financial performance to their lawyers.

Without that fluency, lawyers struggle to have the conversations clients want: clear, commercially-grounded advice about pricing and value.

Technology can help by making data accessible and intuitive, but firms must also invest in upskilling lawyers and business professionals. That combination, tech plus know-how, enables the transparency clients demand and the profitability firms need.

Don’t Miss the Moment

The buying moment is your chance to differentiate, deliver and deepen relationships.

Firms that embrace data-driven pricing, technology-enabled transparency and commercially fluent lawyers will thrive in this new era. Those that delay risk being seen as out of step with clients who already know what good looks like and are willing to move to firms that can deliver it.

As someone who has sat on both sides of the table, I can tell you this: the firms that win the buying moment win more than the matter; they win the trust and loyalty that build long-term relationships.

What Pricing Directors Should Do Next

To master the buying moment and protect margins, focus on three priorities:

1. Prepare for the Conversation

• Equip partners and BD teams with data on historic cost-to-serve, staffing efficiency and profitability by matter type.
• Build playbooks for common pricing models (e.g. fixed fee, success-based, blended rates) with clear guidance on when to use each.

2. Link Client Value to Price

• Capture and analyse the metrics clients care about most: predictability, efficiency savings, cycle time and outcomes.
• Use these insights to show how your pricing approach aligns with client goals and differentiates your firm at the buying moment!

3. Enable Decisions with Technology

• Integrate pricing, budgeting and profitability tools to deliver real-time data to partners during client conversations.
• Monitor budgets versus actuals throughout the matter so adjustments can be proactive rather than reactive.

Firms that operationalise these steps win not just the matter but also stronger client relationships, more predictable margins and a competitive edge.