Changing the Game…To Create Homefield Advantage
Home Field Advantage (HFA). What is it? Have you experienced it? Do you have it?
The purpose of this blog is to begin analyzing the impact of home field advantage. Over the next week, we will provide you with a formula for achieving home field advantage.
Why Do you Need Home Field Advantage?
Let’s review the results in professional sports with specific focus on the National Basketball Association (NBA), National Hockey League (NHL), Major League Baseball (MLB) and the National Football League (NFL).
Based upon 5,134 games played for the last full completed seasons, the cumulative home record for these four sports was 2,865 wins (56%), 2,129 losses (41%) and 140 ties (3%). The winning percentage by sport was as follows:
Sport Winning Percentage When Playing at Home
In the award winning book Raving Fans, authors Ken Blanchard and Sheldon Bowles state that, “Your customers are only satisfied because their expectations are so low and because no one else is doing better. Just having satisfied customers isn’t good enough anymore”.
In sports, a succession of winning plays creates momentum. Momentum creates excitement. Excitement creates raving fans. Raving fans impact your bottom line.
In the insurance and risk management profession, I would like to suggest that home field advantage represents your ability to transact business under favorable conditions.
Do you and your agency have HFA? We’ll reveal how you can discover if you have home field advantage in our next blog post!