Recent pricing trends suggest clients are willing to pay more
What drives clients to choose professional services firms with higher fees?
This fundamental question has been at the heart of our research into pricing trends and client perceptions for over 20 years. And the answer is clear: it’s not about being the cheapest firm – it’s about being the one that delivers the most value.
While many firms believe they need to compete on price, the “race-to-the-bottom” mentality is increasingly out of step with what clients prioritise. Beaton’s data shows roughly one-third of clients are willing to pay more than their current level of fees. This is especially so for work that’s complex and high-stakes – because clients trust it leads to superior outcomes.
In other words, it’s not just about doing the job. It’s about doing it in a way that feels undeniably worth the investment.
Source: beatonbenchmarks 2020
Pricing trends in professional services: What’s changing?
Professional services firms are facing a pricing paradox. On the one hand, markets are more competitive than ever. On the other, clients are becoming more willing to pay higher fees when they perceive a clear return on investment. Our Beaton Benchmarks data tracking pricing trends shows clients are shopping around more than ever – but they’re also not necessarily buying the lowest-priced firm.
This marks an important trend in pricing perception. Clients aren’t looking for the cheapest option; they’re looking for the smartest investment. They’re weighing everything that goes into their client experience, including the 16 attributes we track through Beaton Benchmarks, that a firm brings to the table.
Many clients view also bigger bills as signalling better value – as our Executive Chairman George Beaton wrote in the Australian Financial Review. This phenomenon is known as the heuristic role of price and it means the higher the price, the higher the perceived value of a service may be. In the same way consumers expect expensive handbags to be higher quality, clients tend to equate higher prices with better outcomes.
Forward-thinking firms should be rethinking their pricing strategies based on this evidence combined with their own client feedback data. In law, for example, some firms are moving away from rigid hourly billing in favour of value-based pricing models that align fees with impact, not just inputs. They’re tailoring their approach based on service complexity, recognising that clients expect transparent, standardised pricing for routine work or anything assisted by artificial intelligence (AI). Meanwhile, strategic or advisory work continues to command a premium.
The firms that can clearly articulate the upside or the avoided downside of their advice are the ones that get price uplift.
When clients are willing to pay more
That brings us to the million-dollar question: what makes a client say “yes” to a higher fee?
Firms commanding higher prices differentiate their brand in unique ways so clients feel they cannot get equal service elsewhere. In short, clients are willing to pay more when:
- The work is complex or high-risk,
- The value and outcomes are clearly defined, communicated, and tangible, and
- They trust the firm’s consistent quality, reliability, judgement and care.
These points are discussed in more detail below.
1. Service complexity and value-based pricing trends
Beaton’s research shows that clients’ willingness to pay more increases significantly in engagements that are complex, high-stakes, or business-critical. In these scenarios, the right firm – one that delivers deep expertise, seamless execution, and strategic insight – is worth paying the premium. Clients are effectively buying peace of mind, often faster time to resolution, and the confidence that they’re in capable hands.
This applies across all professions. The more complex the work is, the higher the percentage of clients that are willing to pay more than their current fee levels. Research we published in 2020, illustrated in the table below, found that 28 per cent of clients of accounting and consulting services firms would be willing to pay more. This increased to 40 per cent of clients when the work was considered complex.
Source: beatonbenchmarks 2020
Our research shows that in these scenarios, firms that adopt value-based pricing – where fees are aligned with the perceived value of outcomes, not just time spent – are better positioned to command a premium.
The benefits are twofold: clients gain clarity and confidence in what they’re paying for, while firms are rewarded for impact, not just inputs. The reward is great when firms clearly articulate the business value of their work. For example, perhaps your law firm mitigated a major risk for the client, or your consulting firm’s work has resulted in a sustainable revenue uplift. Pricing perceptions shift in your favour if you can communicate the value and impact of your service.
“The firms that can clearly articulate the upside or the avoided downside of their advice are the ones that get price uplift,” says Libby Maynard, Beaton partner and professional services pricing expert.
“You have to be able to quantify or contextualise your value. For example, if your advice helps a client reduce or remove the cost of an ASIC penalty, that matters. If your advice helped the client register a patent that can be commercialised to produce a future income stream, that is also quantifiable. That’s the conversation.”
On the other hand, straightforward, commoditised work is often price-sensitive and subject to intense competition. This is especially so with the rise of AI tools that make routine, repetitive work cheaper and faster to complete without as much human effort. This doesn’t mean you can’t be profitable if your firm does mostly routine work. But being cost-effective and efficient must be part of your overall strategy, as David Goener, Beaton partner emeritus, explains:
“Your strategy may be to focus on doing routine work at volume, charging less for each job. A lot of the conveyancing businesses do routine work. Clients know they do it well and they do it efficiently. It’s important for firms to consider how perceptions of their client base aligns with the firm’s strategy.”
2. Communication and cost-consciousness
It’s not just complexity that justifies a higher price. It’s how well the firm communicates the value being delivered and how they illustrate their cost-consciousness to the client.
Cost-consciousness means being visibly efficient, transparent, and respectful of the client’s budget. It means communicating where their money is being spent and not creating additional work or cost that could be added to the client’s bill unless it’s necessary and agreed upon in advance. Beaton’s research shows that clients reward firms that demonstrate they are actively managing resources and not wasting time or costs behind the scenes.
“Great communication from partners, scoping properly, being transparent about pricing, making sure the client is on the journey with you – these are the basics that make a great client experience,” says Libby Maynard.
Clients want to know that the firm they’ve chosen is using their time, money, and resources with care. When firms show they are efficient, don’t over-service, and allocate the right people to the right tasks, clients perceive that they’re getting better value – regardless of the price tag.
Firms that consistently balance service complexity with transparent delivery methods are sending a powerful message: “We respect your budget, and we’ll make every dollar count.” That’s a value proposition clients are increasingly willing to pay for.
A long-term client who trusts you is much less likely to leave over a modest price increase because they know what they’re getting, they value consistency, and they probably don’t want to start from scratch with someone else.
3. Client satisfaction and engagement
The type of relationship you build with clients will always have impact on the prices you can charge. Highly satisfied clients are more likely to see their service providers as trusted advisors rather than vendors – in which case, they’re more open to increased fees if the relationship is strong. These clients are not just buying a service – they’re investing in a partnership, one they believe will deliver long-term value.
Beaton Benchmarks data in 2025 shows a direct link between client satisfaction and willingness to pay more across all professional services sectors. Firms that create loyal satisfied clients, known as “promoters” in Net Promoter Score (NPS) terminology, enjoy significantly greater pricing power. In fact, promoters are 2.5 times more likely (on average) to say they’re willing to pay more, compared with Detractors (those with low satisfaction). Here’s how it breaks down by sector:
Building trust is key to establishing and keeping long-term partnerships. Our research finds clients that trust a firm are more than twice as likely to be prepared to pay higher fees to use the same firm. They are almost certain to consider using the firm again in future, and 2.5 times as likely to use that firm the most – above other firms they may require for different needs.
Crucially, ongoing engagement enables firms to tailor their pricing based on evolving expectations. For example, in complex or high-value work, regularly checking in with clients to validate progress and clarify deliverables can reinforce pricing perception and reduce resistance to fee increases. It also creates opportunities to offer additional value via cross-selling services. Our pricing trends research shows clients often feel more satisfied with their firm when they can use it for multiple service lines.
“A long-term client who trusts you is much less likely to leave over a modest price increase because they know what they’re getting, they value consistency, and they probably don’t want to start from scratch with someone else,” says Libby Maynard.
“If you’ve delivered consistently and built that relationship over time, the client is going to be more understanding about price. They see the value in the relationship, not just the invoice.”
Competitive pricing trends vs competitive advantage
By now one thing should be quite apparent: clients aren’t just shopping around for the lowest quote. They’re comparing the return they get on their investment: the insight, responsiveness, risk reduction, and commercial impact a firm can provide. Additionally, our research shows that clients are increasingly willing to pay more for firms that clearly differentiate themselves in service, expertise, and delivery quality.
This is where firms can flip the pricing conversation. Instead of trying to win on cost, they should focus on winning on competitive advantage – that is, positioning themselves as the best quality, most expert, most reliable, or most strategic choice. Firms that can articulate and demonstrate their point of difference stand out and win work, regardless of price point.
“It’s not about being the best firm in the market. It’s about being the most relevant firm for that client’s specific problem,” says Libby Maynard.
“We always say, ‘be nearest to the pin’ – that’s how you differentiate. Show that you’ve solved this exact problem before, in this industry, with great results.”
Data – not assumptions – will help you identify and leverage what clients perceive as your unique brand edge. Understanding this competitive advantage allows you to confidently justify your fees because you have the data to show why you’re worth it.
How to find, build and leverage your competitive advantage for higher prices
- Use benchmarking to uncover your edge
Large-scale benchmarking studies like Beaton Benchmarks allow firms to compare their performance against others in their sector, providing insights into where their professional services pricing sits in relation to market expectations. Research on pricing trends can tell you whether clients believe the value justifies the cost.
This type of analysis helps identify where your firm can differentiate: are you seen as a premium provider? Do your clients believe you offer better outcomes, faster service, or deeper expertise?
- Collect feedback to shape your strategy
Your clients are the best source of insight when it comes to understanding pricing perception. Structured client feedback surveys, interviews, and Net Promoter Scores (NPS) give you direct data on what clients value most, where your service stands out, and whether they see your pricing as fair, excessive, or underpriced.
When analysed over time, this feedback reveals how client satisfaction, client engagement, and willingness to recommend your firm correlate with your current pricing levels. It’s also a critical input into refining your pricing strategies.
- Tailor pricing to what clients value most
Once you’ve identified your firm’s strengths, based on the above data, align your pricing accordingly. This is the foundation of value-based pricing: determining your fees based on the value you bring and the exceptional outcomes clients will receive, rather than trying to compete with the lowest rates on the market.
Conclusion: Price with confidence
The days of defaulting to discounts or racing to match the lowest quote are over. Research into pricing trends show clients aren’t looking for the cheapest firm, they’re looking for the one that delivers the best value. And they’re increasingly willing to pay for it.
Client willingness to pay more is closely linked to perceived value, trust, and confidence in outcomes. Firms that succeed in this environment build deep client engagement based on transparency and consistent delivery.
It’s not about offering the lowest price. It’s about offering the clearest, smartest, and most valuable choice.
Price accordingly.
See how clients view your firm and where you stand against competitors
Participate for free in the largest, most comprehensive client sentiment industry benchmarking study in professional services.
