Tools for RFP Rate Comparison.

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Many legal marketers and business developers have been on the front lines of a pitch or RFP. We've stared down the barrel of an internet portal, and we've gently (or not-so-gently) guided attorneys toward the best possible answers we can muster. But there's one sticking point that a lot of us aren't ever able to answer as well as we would like: How much do other firms charge? The chart below lists a few tools we've found to help us answer that question.

Tool Description Pros Cons TyMetrix This is an app * Free and easy * Only nine RateDriver to pull up to use practice areas average rates * Pulls from for U.S. $26 billion in * Data is two lawyers by actual legal years old metro area, spent from over practice area, 100 * No way to firm size and contributing export or years of companies and analyze the experience. 11,000 law info firms, including all of the Am Law 100 Hildebrandt's This tool is a * Data stays Data available Peer Monitor "live current only where Peer benchmarking Monitor can get program that * Covers most it; no Oklahoma provides real- major law firms City, for time economic and midsize example data that firms allows you Breakdown by to compare your * Great for the experience...

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