RainToday's pricing research

The folks at RainToday.com asked me to share my thoughts on their new series of research reports on pricing.  The studies are targeted to five specific sectors: consulting; marketing, advertising and PR; architecture, engineering and construction; legal services; and accounting and financial services. 

My one-word reaction:  HURRAY!

Pricing has been a too-mysterious subject for as long as I can remember in professional services.  In some industries whose businesses are more driven by competition-driven RFPs, the AEC arena for example, pricing is a more open (and sometimes vexing) subject.  In other sectors, it's painfully obvious that some professionals are feeling their way in the dark.

For the PSF pricing neophyte, RainToday's reports shed light on many of the more arcane aspects of the subject.  Who's using hourly fee pricing, and how much are they getting?  What is value-pricing and how can we start using it?   

The good news / bad news about these studies is that they benchmark the various pricing models used by the sectors. That's a sign of the maturation of the professional services arena, isn't it? 

The studies also address the relationship of a PSF's perceived unique value to its pricing models and its relative preparedness for economic downturns. The answers to THOSE questions are too firm-specific for these reports, but they do "call the question."