Hartford Business Journal

HARTFORDBUSINESS.COM | JULY 10, 2023 37 Other Voices The Travelers Championship — A brand built to last By Bill Field A tapestry of red spread out across the TPC River High- lands golf course in Cromwell serves as the welcoming entry to the well-crafted brand experience delivered year after year by the Travelers Championship. The terms user and customer experience are bandied about by marketers everywhere. Many times, they feel manufactured or contrived, lacking any genuine connection. It's refreshing and enlightening when a brand pays off their promise through lasting experiences for decades. Such is the case with the Travelers Championship. The tournament gives the people of Connecticut a sports "brand" to own, in addition to the Huskies. As surely as the seasons change, the Travelers Championship provides us something to anticipate in summer. On the business front, playing field and in the arena, Connecticut has always competed with the metropo- lises of New York City and Boston as the proverbial little brother. In the world of professional golf, the Travelers Cham- pionship owns New England. Like any great brand, the success achieved didn't happen overnight. It began with a strong brand foundation backed by a bedrock of corporate commitment, savvy management, and a belief system of doing right for the community through generous charitable contributions. Anyone who "touches" the Trav- elers Championship is treated as a guest — from the players, their families and caddies, to the sponsors, volunteers and hundreds of thou- sands of fans who make the trek to the tourney. Travelers has delivered a seamless brand experience in hundreds of different ways, both overt and subtle. What it has accomplished is special and keeps getting better as the brand continues to be nurtured and grown year over year. Fans flocking to see the annual stop of the PGA Tour is nothing new. For years, upwards of 250,000 people came to the former Connecticut Canon GHO golf tourna- ment, which offered a healthy dose of drinking, pure and simple. The Travelers Championship is on an entirely different planet from a branding perspective. By truly having skin in the game, Trav- elers has elevated its brand with all stakeholders. It's no coincidence that Travelers' brand promise is: taking care of our customers, communities and each other. The ubiquitous red umbrella is seen everywhere during tournament week — on tee markers and even floating in the pond that surrounds holes 15, 16 and 17. The challenge is to not have it be "in your face," and it isn't. You're greeted walking into the tournament by people whose mission is to ensure that you have a great time. Sunscreen, ponchos and cool sunglasses are offered in a basket as though it were Halloween. That sunscreen comes in handy hanging on my golf bag, all while providing a reinforcement of the Travelers Championship brand experience. There is also the experience of climbing onto the gigantic Travelers chair for a picture — it spoke to me! People take notice. Being elevated in stature by the PGA Tour brass is no coincidence. The tournament earned the respect of the players by estab- lishing long-term relationships. All indicators point to the Travelers Championship retaining elevated status in 2024. Like any brand that's achieved lofty brand equity status in the minds of consumers, the tourna- ment has earned this position. With a sponsorship deal that extends to 2030, Travelers has further cemented its place in the consciousness of golf fans throughout Connecticut, the region and golfing world. Kudos to the Travelers Champion- ship and Travelers for building a brand to last, from which we all benefit. Bill Field is the founder of Fiel- dActivate, a Connecticut-based marketing firm. 3 ways for a small business to thrive in CT By Jessica Dodge S mall businesses are the life- blood of our economy, but especially here in Connecticut. This sentiment was shared by everyone in attendance at the National Small Business Week SBA Awards & Resource Expo recently hosted by the Connecticut Business & Industry Association. This statement was underscored by Alexandra Daum, commissioner of the state Department of Economic and Community Development, who stated that small businesses employ nearly 50% of all workers in Connecticut. I have considered myself fortu- nate to work closely with prominent business leaders in this state for the better part of my career. I moderated a panel discussion at the SBA event focused on how three Connecticut small businesses are finding ways to innovate their organizations, not only to survive but to thrive into the future. Here are my three biggest takeaways: The value of having the right team Echoed not just by the panelists themselves, but also by the event's honorees was the outlook that having the right team members in place is what allows small businesses to thrive in this economy. Chris Allen, CEO of iCleanse, the event's keynote speaker, went as far as to ask: "Would I be able to carry on a conversation with this person during a four-hour car ride?" Company culture is driving hiring decisions at all levels. Employers are carefully weighing a candidate's experience against their ability to learn inside of a role while exempli- fying the company's core values. Finding quality talent has pushed small businesses to get creative. Some sources suggest as many as 60% of all small businesses are either remote or hybrid, but owners need to be mindful of the tax implications when hiring out of state. Sometimes, good solutions come with unforeseen consequences. Innovate your benefits offering To stay competitive, small busi- nesses are opting for non-traditional benefits that sit alongside more traditional ones. This includes being flexible in the definition of the workplace, length- ened parental leave, options for parents returning to the office to bring their infants with them for a period of time, and less rigid interpretations of paid time off. Directly linked to the impact of inflation, health benefits continue to be a high cost to small employers, resulting in the frustration of shopping for competitive plans for a handful of employees. Statewide organizations are paying closer attention while working to provide more robust healthcare plans, a positive for many owners. Innovative benefits like these and more, which are promoting a healthy work-life balance, are helping to keep workers both employed and living in Connecticut. Increasing state support The resolve and determination of leadership inside of small companies never ceases to amaze me, despite it being no secret that Connecticut is an expensive and difficult state in which to conduct business. From the panelists to honorees, there was an overarching sentiment that more support from lawmakers is needed. The state needs to ensure that resources are easily accessible for businesses — searching the internet cannot be the solution for owners whose highest and best use of time is running the companies our economy relies on. New data released by the Internal Revenue Service found that combined, New York and California lost over $90 billion in income during the pandemic. This was due to a mass exodus of people and busi- nesses from both states, all echoing similar concerns about the cost to live and work. The panelists, me included, seem hopeful that Connecticut will not face a similar fate — small businesses are the backbone of our economy, and we need them to want to be here. Legislation such as the expansion of the R&D tax credit would help small businesses to innovate through continued research and development. Right now, this credit is only available to C corporations, leaving businesses that are not structured this way at a disadvantage. Through continued innovation, and statewide support, small businesses can make their hard-earned dollars go further and continue to bring revenue into the state. Jessica Dodge is the director of momentum for business owners at Farmington-based Connecticut Wealth Management. Bill Field Jessica Dodge

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