Attendance


Our monitoring of attendance has never been more important.  Recently major sporting events have made the decision to have no fans at their events.  What impact will this have on the financial services industry?  Our blog this week will examine how we are social distancing and measuring attendance at the same time.

 

Status Quo

The methods we used to track our progress have been neutered by COVID.  It is no longer a good practice to look at the bottom of a box score to see the attendance. We know that the attendance is zero and time will tell if fans meant more than the trophy acceptance speech.  Early on, LeBron even questioned not having fans, but realized that attendance matters but has a larger impact on his compensation.  Businesses and Universities have drunk this medicine too.  Acceptance rates, monthly production and asset growth are correlated to tuition and revenue.  COVID does not care if you are an elite school or a top producer.  Finally, our fancy office does not matter as much as it used to.  A good video and a nice picture background will work.

                

Social Media

 Social Media is a double-edged sword for businesses and for our children. One edge of the sword is the tracking attendance of our website and social media posts.  This data is accurate, but the platforms know the addictive power of Google Analytics Data and the followers and likes from Facebook and Twitter.  Parents warn their children about this addictive data, but I too want to have as many followers as Josh Brown.      

 

Next Steps

 How can we pivot our professional and personal lives to address the Virus? Surveys of our clients and our co-workers are a good place to start.  The dramatic market moves, and the high unemployment claims reinforced that we need a personal and a business CFO to monitor our bank accounts. We cannot rely on the Government to cover our insufficient funds charges.  Our attendance matters.

 

 

I am not enjoying the fan-free golf tournaments. Let's see if attendance is important for baseball and football. 

    

               

                  

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