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Fan-Centric KPIs: The Secret Behind Savannah Bananas’ Explosive Growth

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In a recent Earmark podcast episode, Dr. Tim Naddy, CFO of the Savannah Bananas, shared the team’s unconventional approach to sports entertainment and finance. With a background in accounting and education, Tim brings a unique perspective to sports finance, blending traditional accounting principles with innovative tactics prioritizing fan experience.

By analyzing the financial strategies behind the Savannah Bananas’ success, accounting professionals can learn how to implement and measure the effectiveness of all-inclusive pricing models, non-traditional revenue streams, and customer-centric KPIs in other industries to drive customer satisfaction and business growth.

The Savannah Bananas’ Revolutionary Business Model

The Savannah Bananas have revolutionized sports entertainment by blending circus-like excitement with baseball tradition. Tim explains that they’ve found a “secret sauce” that makes the game less stressful and more enjoyable for fans. 

The team creates a fun, family-friendly environment with unconventional elements like choreographed player dances and unique cheerleading squads. This approach yielded impressive results: over 3 million social media followers, 200 consecutive sold-out games, and a million-fan waitlist.

Their model emphasizes creating a total fan experience that drives long-term loyalty and word-of-mouth marketing. By prioritizing customer experience, the Bananas demonstrate how businesses can create a “flywheel” effect, where positive experiences drive demand and sustainable growth. Their results are a case study for incorporating customer satisfaction metrics into financial strategies.

All-Inclusive Pricing: A Game-Changing Strategy

One of the most revolutionary aspects of the Savannah Bananas’ business model is their all-inclusive pricing strategy. As Tim explains, “What we found very, very interesting is, when you give away the food for free, and people aren’t worried about whether or not their six-year-old is fed, they are happily taking that money and saying, well, shoot, I had such a great time. I think I want to buy a hat or a T-shirt. Because I know at the end of the game there will be 40 players out there all signing that ball.”

The Savannah Bananas include all food in the ticket price, allowing fans to enjoy hamburgers, hot dogs, chips, and soft drinks without additional cost. A family of four can attend a game for about $140, enjoying four to five hours of entertainment with all food included. Alcohol and specialty items are not included in the ticket price, maintaining an additional revenue stream.

Initially met with skepticism from industry consultants who viewed food sales as a crucial revenue stream, the Bananas persisted with their vision. The results have been remarkable. By removing the stress of additional food costs, fans are more likely to spend money on merchandise, turning attendees into “walking billboards” for the team.

For accounting professionals, this case study demonstrates the importance of looking beyond traditional revenue streams and considering how pricing strategies impact customer behavior and long-term brand loyalty.

The all-inclusive model also presents exciting challenges for financial reporting and analysis. Accountants must consider how to accurately allocate revenue between ticket sales, food costs, and merchandise and how to measure the true impact of this strategy on the bottom line. This requires a shift in thinking from traditional cost-center approaches to viewing food as part of the overall entertainment experience.

Fan-Centric KPIs: Redefining Financial Success

The Savannah Bananas focus on fan-centric Key Performance Indicators (KPIs), particularly the “per cap” metric. This metric, calculated by dividing total sales by attendees, helps identify trends and issues in various business aspects. 

As Tim explains: “The per cap is almost a universal KPI. It’s something that you absolutely need to watch. Because once you start seeing a flip in the per cap, whether that be in merchandise or food and beverage, that’s a lead indicator for you. Now, let’s say merchandise falls. We might look at that and say, was it because it rained this evening? Were we not offering the right products? Is there a certain product that isn’t selling? We investigate why we had that slippage because we know where we should be based on the per cap average.”

On the other hand, if they see an increase in their per cap, they can determine whether the bump came from a particularly popular piece of merchandise.

“It’s a great bellwether for us to look at because, ultimately, what it comes down to is if we don’t know our fans, then we’re going to miss out and it will show in the cap. It will absolutely show,” Tim says.

By adopting similar customer-centric KPIs, businesses in other industries can gain deeper insights into their financial drivers and make informed decisions about resource allocation and strategic planning.

Adapting Financial Systems for Innovative Business Models

To support their unconventional business model, the Savannah Bananas have had to adapt their financial systems and technology stack. As Tim explains, “We actually just made the move to NetSuite. We were originally using QuickBooks and we knew at some point we were starting to get a little too big. QuickBooks is a wonderful platform, but it’s not built for the volume of transactions we were running through it.”

The move to NetSuite ultimately improved processes like credit card allocations and cash allocations, streamlining daily financial operations.

The Bananas’ financial ecosystem combines specialized tools: Shopify for merchandise sales and inventory management, Toast for food and beverage operations, and proprietary software for their ticketing platform. This best-of-breed approach allows them to track and analyze fan behavior across different touchpoints, supporting their fan-centric business model.

They’re also building a data warehouse to integrate data from these different systems, aiming to provide more comprehensive insights into their operations and fan engagement. The goal is to be able to support a more sophisticated analysis of how different aspects of the fan experience contribute to overall financial performance.

Reimagining Financial Strategies for Customer-Centric Businesses

The Savannah Bananas’ success story offers a playbook for accounting professionals across industries to reimagine financial strategies in the context of customer-centric business models. The team has achieved remarkable success and customer loyalty by implementing innovative pricing strategies, focusing on fan-centric KPIs, and adapting financial systems to support these approaches.

To gain more in-depth insights into the Savannah Bananas’ innovative financial strategies and how you can apply them in your practice, listen to the full Earmark Podcast episode featuring CFO Tim Naddy. His story offers a valuable perspective that can help you drive innovation in your financial practices and deliver greater value to your clients and organization.

Are Your Remote Accountants Thriving? Learn from This Firm’s Game-Changing Approach

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Marcus and Rachel Dillon, hosts of the “Who’s Really the Boss” podcast, have transformed their virtual accounting firm, Dillon Business Advisors, with innovative strategies for motivating remote teams. Their approach reimagines compensation, leadership opportunities, and team engagement in a virtual team. 

In a recent episode, they offered valuable insights for CPA firm owners and accounting professionals looking to thrive in a remote environment.

Incentivizing the Right Behaviors

The Dillons recently overhauled their bonus structure to align more closely with client expectations and give team members more control over their compensation. Previously, bonuses were tied to bringing in new Client Accounting Services (CAS) clients. While this structure helped the firm grow its CAS engagements, the system had limitations. As Marcus explains, “There was some disconnect. People could not calculate what their bonus was going to be at any one point, and they didn’t have control over the sales process.”

The new structure offers each team member a $25 bonus for every client whose financials are delivered by the 15th of the following month. With teams of three serving each client, that’s a potential $75 bonus per client per month. This system directly rewards the timely delivery of financial data, a fundamental client expectation.

The impact was almost immediate. In a client meeting, a Client Service Manager proactively addressed the new system: “We’re going to change up what we issue to you because we’ve got this new incentive plan at DBA, and I get a little bonus if we issue the core financials by the 15th. But some of the budget reports might go out after the 15th, but as close to the 15th as possible.”

To help increase buy-in and address potential concerns, the Dillons used an “optimist/pessimist” activity during the rollout. Team members were paired up and asked to share positive and negative aspects of the new structure. This approach encouraged open dialogue and allowed the Dillons to address concerns directly and immediately.

Fostering Leadership and Expertise in a Virtual Environment

Recognizing the need for clear career advancement paths and leadership opportunities in a remote setting, Dillon Business Advisors introduced two innovative programs: Subject Matter Expert roles and an Onboarding bonus system.

The Dillons designated subject matter experts in three primary areas: accounting, tax, and payroll. These roles come with an additional stipend of about $900 per year. As Marcus explains, “That’s the person. If you’ve got a tax question or an accounting question or a payroll question, that’s who you go to. I’m not saying they know all the answers, but they’re going to help find them. And they’re also going to help educate the team throughout the year.”

The Onboarding bonus system incentivizes efficient client onboarding. Teams can earn up to 50% of the onboarding fee as a bonus, with the percentage decreasing on a sliding scale based on how quickly the onboarding is completed. This encourages team members to streamline the process and quickly get new clients up and running.

The impact of these changes was immediate. In a test run before the full rollout, team members began proactively analyzing new client data and preparing recommendations before the kickoff call. Marcus notes, “What came out of the conversation was, ‘Well, I’m going to go ahead and go into their QBO file and really look at it, really analyze it first. And then I’m also going to proforma their tax returns and look at those ahead of the client kickoff call.’ Then we can make recommendations at the kickoff call versus saying we’re going to look them over in the next few days.”

Investing in Team Engagement: The Power of Strategic Retreats

While innovative compensation structures and career development opportunities lay the foundation for a high-performing remote team, the Dillons recognized the importance of face-to-face interaction. Their solution? Strategic team retreats that complement and reinforce their other motivational strategies.

Dillon Business Advisors’ recent retreat in Florida included a team meeting to roll out new bonus structures and leadership opportunities, followed by group activities like a boat trip to Crab Island. The investment is significant—the recent domestic trip cost about $6,000 per couple or $3,000 per person. However, the Dillons view this as crucial for team performance and retention.

The benefits of these retreats align perfectly to create high-performing remote teams:

  1. They strengthen team bonds and company culture, which is crucial for collaborative remote work
  2. They provide face-to-face time for meaningful discussions and feedback on new initiatives
  3. They increase employee satisfaction and retention, supporting the firm’s investment in talent
  4. They offer a tangible reward for meeting company goals, reinforcing the performance-based culture

At the final dinner, Marcus highlighted each team member’s contributions in front of their colleagues and spouses, reinforcing the appreciation culture. He also provided handwritten cards to each team member, a personal touch that made a significant impact.

Transforming Remote CPA Teams into High-Performing Units

By tying bonuses to client-centric metrics, creating new opportunities for innovation and leadership, and investing in team engagement through retreats, the Dillons have transformed their remote team into a high-performing, self-motivated unit. As Marcus aptly puts it, “If you’re kind of scratching your head on how to make your employees do what you want them to do, throw some dollars where it matters most.”

These strategies drive individual performance by fostering a collaborative culture that consistently exceeds client expectations and contributes to firm growth. With remote work becoming the norm rather than the exception, such approaches are crucial for CPA firms looking to thrive.

As more firms transition to remote or hybrid models, those that can effectively motivate and engage their virtual teams will have a distinct competitive advantage. The Dillons’ experience demonstrates that remote teams can be just as effective—if not more so—with the right incentives and opportunities than traditional office-based teams. Listen to the full episode of the “Who’s Really the Boss” podcast for all the details.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA , supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

From Cash Flow Concerns to Acquisition Strategies: Real-World Financial Advisory in Action

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“How do you deliver $2,000 to $8,000 per month in value to your advisory clients?” Many CPA firm owners looking to get into high-level advisory services are looking for an answer to this question. Marcus and Rachel Dillon, hosts of the “Who’s Really the Boss” podcast, answered this question in a recent episode. In short, they take a carefully tailored approach that combines industry knowledge, relationship management, and adaptive communication.

The Art of Tailoring Client Advisory Services

Effective client advisory requires a structured yet flexible approach to client meetings. Marcus, who provides outsourced CFO services for several clients, outlines a framework that allows customization while covering crucial bases: connection time, priority investigation, financial analysis, strategy discussion, and action planning.

“Those five points give a structure to the meeting. Otherwise, the clients might direct the meeting the whole time and let you sprinkle in some words of wisdom,” Rachel explains, highlighting the importance of having a structure, especially with new clients.

The key to successful advisory meetings lies in thorough preparation. Marcus describes his process: “I have a Chrome browser pulled up just for the client. I’ve got three tabs open from the client’s QuickBooks Online file, so I’ve got their balance sheet through today, their P&L, and their AR aging because that’s usually a talking point.”

However, flexibility is equally crucial. As client relationships mature, the approach can become more fluid. Marcus might focus more on immediate concerns or recent financial changes for established clients while still touching on all key areas.

Case Study: Navigating Growth in a Marketing Agency

To demonstrate the power of tailored advisory services, Marcus and Rachel shared a case study of a marketing agency client with an annual revenue of $3-3.5 million. This client was considering acquiring a vendor to bring research capabilities in-house.

Marcus tailors his preparation for this client: “They use Google Sheets, while we use Excel.. So we’ve had to find that balance. He’ll keep his internal stuff and invite us into his Google Sheets for the projections.” It is important to consider disruption to firm workflows when determining if or when to go outside your standard tech stack based on an individual client’s needs.

The advisory meetings focus heavily on cash flow management and acquisition planning. Marcus notes, “We’ve seen pull back in that industry over the last year and a half to two years in response to the overall economy.” To address this, Marcus uses a combination of tools, including QuickBooks Online for historical data and a specialized cash flow tool for 90-day projections.

A key challenge is balancing the focus between core business operations and the potential acquisition. It’s easy for the owner to focus so intently on the acquisition that he neglects sales. But Marcus addresses this by emphasizing the importance of maintaining sales efforts and closely monitoring accounts receivable, even as the client explores growth opportunities.

Case Study: Managing Cash Flow in a Dental Practice

The Dillons’ second case study focuses on a dental practice with an annual revenue of $2.4-2.5 million. This client was experiencing cash flow concerns, presenting a different set of challenges than the marketing agency’s.

Marcus approaches this client’s situation with a deep understanding of the dental industry. He explains, “I looked at distributions and at the P&L. I know collections in his industry are a little bit soft since people aren’t doing some of the elective procedures. But production was about the same and collections were only down about $5,000 compared to last year.”

The advisory approach involves a careful balance of personal and business financial considerations. Marcus knew this client took significant distributions from the company to pay for a home remodel. Marcus notes, “Having that data, I was able to say, ‘Okay,  you’ve pulled out $200,000, in distributions. Did all that go to that remodel project?’ Yeah. Pretty much.” By highlighting how personal financial decisions impact business cash flow, Marcus helps clients understand their financial situation.

Strategic advice for this client includes considering price increases, focusing on AR collections, and considering a membership program as an alternative to accepting traditional dental insurance, where reimbursements continue to go down for doctors and the cost to the insurer continues to increase.

Building Relationships Over Time

Marcus emphasizes the importance of building relationships with clients over time: “It takes about a year, probably a year and a half, to really get comfortable with a client, meeting on a quarterly basis. So I would say 4 to 6 meetings in, you get to know the other person on the other side of the screen and can anticipate their points of concerns.”

As relationships deepen, advisors can anticipate client needs, provide more nuanced advice, and adapt their communication style to best suit each client. For example, Marcus notes that with long-standing clients, he can often predict their concerns before a meeting, allowing for more targeted and efficient discussions.

Key Takeaways for Financial Advisors

So, what can accountants do to replicate Dillon Business Advisors’ success in having advisory-focused client conversations?

  1. Invest in industry-specific knowledge to provide contextual, relevant advice
  2. Build solid and lasting relationships with clients that go beyond numbers
  3. Develop a flexible advisory framework that can be tailored to each client’s needs
  4. Continuously adapt your approach as client relationships evolve

Listen to the full “Who’s Really the Boss” podcast episode featuring Marcus and Rachel Dillon for more practical tips for elevating your advisory services. You’ll hear firsthand accounts of client interactions, learn about specific tools and techniques for enhancing your advisory approach, and gain valuable perspectives on building a successful advisory practice. Whether you’re just starting to offer advisory services or looking to take your existing practice to the next level, this episode offers actionable insights you won’t want to miss.

Rachel and Marcus Dillon, CPA own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, is a community for accounting firms to get operational support in strategy, structure, and systems.

Collective by DBA: Revolutionizing Operational Support for CPA Firms

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In episode 14 of the “Who’s Really the Boss” podcast, hosts Rachel and Marcus Dillon reveal Collective by DBA (previously DBA Firm), a revolutionary initiative born from their experience as successful CPA firm owners. The Dillons have navigated the choppy waters of firm management and emerged with a blueprint for success that they’re now sharing with the accounting community.

Collective by DBA isn’t your typical consulting service. It’s a comprehensive support system designed specifically for CPA firm owners looking to overcome common hurdles and achieve sustainable growth. Their approach is simple yet powerful: By providing tailored resources, personalized implementation plans, and a supportive community, Collective by DBA empowers accounting firm leaders to transform their practices and reach new heights of success.

Operational support is at the heart of Collective by DBA’s approach—an often overlooked but crucial aspect of running a successful CPA firm. As Marcus emphasizes, “[Collective by DBA] is operational support for CPA firms. And I just I come back to operations—that’s the keyword.” This focus on operations sets Collective by DBA apart. While many consultants focus on technical accounting skills or marketing strategies, Collective by DBA recognizes that how a firm operates day-to-day is often the difference between struggling and thriving.

Collective by DBA targets firms with revenues between $500,000 and $5 million and 3 to 30 employees. As Marcus explains, “That’s really the core. That’s who we feel called to serve because that’s who we can make the greatest impact on.”

The Three Pillars of DBA Firm’s Support Model

Collective by DBA’s approach is built on three fundamental pillars: structure, strategy, and systems. 

  • Structure forms the foundation, with concepts like their “Team of Three” model providing a framework for organizing staff roles efficiently.
  • Strategy focuses on making smart decisions about the firm’s direction, such as transitioning from relying on seasonal tax work to more stable, recurring revenue streams.
  • Systems emphasizes leveraging technology and processes to streamline operations and improve efficiency.

Key Offerings

Collective by DBA offers a range of resources and services to support CPA firms:

  • Firm resources. Firms that join the Collective Community can download guides, templates, and case studies.
  • Webinars. Regular online sessions are eligible for CPE that cover topics ranging from team management to technology implementation.
  • GRIP (Goal Ready Implementation Plan). This intensive service involves a deep dive into a firm’s current state, goals, and challenges, resulting in a tailored 24-month plan for growth and transformation.
  • Advisors. Collective by DBA team members work closely with firms to implement changes, ensuring lasting positive impact through one-on-one advisory and group facilitation.
  • Community events. Collective by DBA hosts gatherings like their recent Get Together in The Woodlands, Texas, creating opportunities for accounting professionals to learn from each other and share experiences in person.

The Get Together Event

In April 2024, Collective by DBA hosted its first major in-person event, bringing together about 60 firm leaders nationwide. The two-day gathering included presentations from the Dillon Business Advisors and Collective by DBA, peer-led discussions, and the introduction of their GRIP service. Marcus notes, “Unlike many other conferences and events members might go to,  the other attendees are actually leaders in firms. We’re not stacking events with influencers, sponsors, and vendors.”

The Future of Collective by DBA

As Collective by DBA continues to grow, it’s expanding its offerings while staying true to its mission of providing operational support to CPA firms. Recent developments include gaining approval to issue CPE credits and plans to make its GRIP service more widely available.

Rachel summarizes their approach: “We are definitely not a technology company. What we are is very invested in building relationships and positively impacting and transforming the accounting industry. Building relationships and sharing what we’ve learned has been really rewarding and something that gets me really excited.”

For CPA firm owners looking to transform their practice, Collective by DBA is helping to create more efficient, profitable, and sustainable accounting practices by addressing the often-overlooked operational aspects of running a firm. To learn more about their resources and services, visit Collective by DBA and listen to the full episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

Reimagining Professional Gatherings for Meaningful Learning

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Conference season can be overwhelming for CPA firm owners and accounting professionals. Large industry events often lead to information overload and superficial networking. But what if there was a better way to learn, connect, and grow professionally?

In a recent episode of the “Who’s Really the Boss” podcast, hosts Rachel and Marcus Dillon tackle this challenge head-on. As CPA firm owners and industry consultants, they’ve pioneered an innovative solution: the “Get Together” event model.

The “Get Together” Approach

The Dillons’ “Get Together” events are intentionally small and focused, with only about 50 to 70 people. This intimate setting fosters a collaborative atmosphere that combats the anonymity often experienced at larger events.

Key features of the Get Together include:

  • Round table setup. This encourages interactive discussions and peer-to-peer learning.
  • Advanced study sessions. These allow for deeper exploration of topics in smaller groups.
  • Practical, actionable content. The focus is on real-world application rather than theoretical knowledge.

Rachel explains, “We named it Get Together because it really was a gathering of friends of accounting industry peers who have the same goals and a desire to make their firms a better place to work.” This approach directly addresses the common frustrations with traditional conferences: information overload, superficial networking, and lack of actionable takeaways.

Target Audience and Exclusivity

The Get Together events are designed for firm owners and leaders from businesses with revenue between $500,000 to $5 million and team sizes of 3 to 30. This specificity allows for discussions and content directly relevant to all attendees.

Rachel emphasizes, “What that means is there’s a limited number of seats, and we want to make sure that we are able to be transparent, and we want to make sure that people who appreciate that are in the room.” This careful curation ensures everyone present is there for the right reasons: to learn, share, and grow.

Focus on Strategy, Structure, and Systems

The events cover three main pillars: strategy, structure, and systems (including software). Marcus explains, “Strategy could be as simple as mission, vision, and values, which a lot of people just write off as fluff in their business. But if they don’t have a clear mission, vision, or value statement, it’s so hard to help them steer the ship.”

Regarding structure, the Dillons discuss their “team of three” model, where each client has a dedicated Client Service Manager (CSM), Controller, and CFO. During the structure discussions, attendees dig into roles and responsibilities, workloads, and compensation strategies. 

They focus on tools for systems and software that create efficiencies and improve client and team member experiences.

Marcus notes, “We have some very important people that we are connected to in the software and systems world, and that’s who we partner with. So our events are not full of people trying to sell you stuff. If they’re just there to sell you something, they don’t need to be in the room.”

Maximizing Learning and Networking

To get the most out of any professional event, the Dillons suggest several strategies:

  • Set clear goals and intentions before attending
  • Check the agenda in advance and select relevant sessions
  • Actively network and share challenges/successes with other attendees
  • Take time to reflect and process information during and after the event
  • Prioritize next steps and actionable items post-event

Rachel stresses the importance of actionable outcomes: “If there are no actionable steps out of a conference, I don’t know that I can say it was a success. That next step might just be ‘call this person’ or ‘reach out to this company.’ But if there’s literally not a next step, I don’t know that it was worth the time and monetary investment.”

Maximize Your ROI on Professional Development

The Get Together model is a welcomed alternative to conference fatigue and information overload. By focusing on a specific audience, emphasizing practical outcomes, and providing strategies for effective participation, these events deliver tangible value to every attendee.

As you consider your next accounting conference or professional development opportunity, ask yourself: Are you seeking a flood of information or actionable insights? Are you looking for a room full of strangers or a community of like-minded professionals?

Less can be more in a world of constant noise and information overload. The Get Together model shows that reimagining how we learn, connect, and grow as accounting professionals can lead to more meaningful and impactful experiences. Learn more in the most recent episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.