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Changing the Game…To Create Homefield Advantage

November 17, 2011

beyond insuranceHome 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

NBA                                        59% beyond insurance

NHL                                       55%

MLB                                        55%

NFL                                         53%

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!

Scott Addis

For more ideas on how to break the commodity trap connect with Beyond Insurance on:

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The author, Scott Addis is the President and CEO of The Addis Group and Addis Intellectual Capital, LLC (AIC). AIC is a coaching and consulting company whose purpose is to transform the process that insurance agents, brokers and carriers use when working with clients. Scott is recognized as an industry leader having been awarded the Inc. Magazine’s “Entrepreneur of the Year” Award as well as “25 Most Innovative Agents in America”. Scott can be reached at saddis@beyondinsurance.com or 610-945-1019.

3 Comments leave one →
  1. November 18, 2011 10:31 pm

    Scott, It’s amazing how many sports commentators overlook Home Field Advantage, almost as if it doesn’t exist or maybe they just wish to keep loyal fans hooked! Best, Peter

Trackbacks

  1. The Winning Formula For Home Field Advantage « Beyond Insurance
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