SUMMER BUSINESS EMERSION PROGRAM IN CONNECTICUT
This summer the author was given an opportunity to participate in Business Internship Program in USA. The company, where internship was organized, is called “Mintz&Hoke”. “Mintz&Hoke” is marketing agency that is situated in Connecticut, Avon. His main clients are from East Cost of America. Although the agency is considered small, it has many orders from large companies and government. The company’s mission is ““We used to think of ourselves as Global Yokels”. It confirms that small size of the firm (55 employees) does not influence on the extent of orders. The mission statement of the company “Help clients win!” emphasizes the client-oriented culture in “Mintz&Hoke”. Each activity of Company is directed to satisfying their clients. “We try to help clients win everyday. Even if sometimes they are not agree with us, but we know that it’s better for them – we are going to try to persuade them do whatever they need to win”, the manager Ron Perine told. Company has a set of objectives such as making qualified research about what type of advertising audience needs, creating the appropriate advertising based on qualified research; buying appropriate media spots for targeted auditory. Consequently it leads to implementing of one major goal of Company - Helping Client Win.
Company also has its own values that help employees to face with everyday problems and become the winners. The company’s values are integrity, responsibility, creativity and commitment. “Mintz&Hoke” values the ethics in business. Also not less important is creativity, for marketing agency it is essential to do brainstorming, generate new ideas and projects. Basically “Mintz&Hoke” tries to do everything in order to make clients win. So, the main value of company is their clients.
“Mintz&Hoke” has the unique service – supply advertising that in the result of hard teamwork attracts the audience. It is very hard business; in order to hold its ground and survive company has to carefully implement its strategy. The most important is hiring staff: designers, PR managers, movie operators, and administrative staff. Because marketing business is very risky and innovative, company has to hire best people.
The agency works for clients and gets profit from commission. It’s 15% commission – approximately the same in Kazakhstan. Agency has relationships with different radio-tv-stations, magazines that allow it to get cheaper price. Also it supplies with all kind of marketing services print advertising, commercials, outdoor advertising, radio advertising. The prices on the services differ from the type of advertising and time of broadcasting. Commercials are the most expensive type, although the morning radio broadcasting can be also very expensive.
“Mintz&Hoke” is a full service company. It does all kind of marketing that exists. Basically, there are three main directions of their business: advertising (including print, broadcast, outdoor, etc.), service (branding and focus fast), interactive (website design, blogs, social networks, etc.).
Service of clients in “Mintz&Hoke” is especially great. The company tries to meet all clients need and is ready to give every person the consultation. Clients come to Agency and ask for advertising or branding and tell what amount of money he can spend on it. After that agency and client sign the Estimate that has the approximately numbers of hours of job and the sum clients have to pay. After that agency makes the research – FOCUS FAST. Focus Fast makes Agency very successful, because this innovation is no quite spread in marketing business. Actually it’s a brainstorming of creative people in agency in order to generate ideas. At the same time the client can see and hear them, being in the other room. For theirs turn, employees can not talk to him or see him. After creative workers agreed on concept of advertising and Creative Director approved the plan, Client and Agency sign the contract. The accounting department after that sends the invoice to Client. And now he has only 19 days to pay. Agency continues work – creative people (copywriters, graphic designers and shooters) create the advertising. Mass Media Department buys spots on radio/TV or in magazine. Very often they have to pay his own money, because account receivable could not be ready for the time company needs to give money in order to buy spots. Company accepts this situation, because they want to keep clients. Company takes 15 % commission from buying spots
There are basically three main departments: accounting (CFO- Ronald W.Perine, CAO - Amy), Mass Media (Manager – Janete Braxton), creative department (Chris Knopf – CCD, Executive Director, Su Straderman – Creative Director), HR and Public Relationships, President - Bill Fiel) . There are 55 employees. Chris and Mary have the majority of shares and actually own the company.
I would like to say that “Mintz&Hoke” is very different from our marketing agencies in Kazakhstan. It seems to me that in Kazakhstan this business just started to develop.
“Mintz&Hoke” usually works with large orders: with airlines, casino “Mohegan Sun’, Fetexp, CT CSS, etc, while our Kazakhstani marketing agencies are oriented on the small business primarily. In Kazakhstani marketing agencies do not usually take orders from government, in USA government is one of the largest clients of agency. For example, government gave the order to “Mintz&Hoke” to create the forum in Connecticut that was called “See the abilities in people with disabilities”. This forum was devoted to employers in order to call them to hire people with disabilities.
Another difference that I would like to mention is the method of payment. In “Mintz&Hoke” clients are billed usually at convenient conditions for them. Agency paid vendors before they get money from client. In Kazakhstan clients are billed at the time of signing contract.
One of the most significant parts of the job in “Mintz&Hoke” is research. Every time company gets the order, the employee carefully analyze the targeted auditory and make the research. This research is the base of future work of creative people. Branding, broadcast, print advertising – everything demands qualified research. In Kazakhstan marketing agencies people do not always analyze public tendencies, market and target audience. Research most likely has secondary significance.
Another feature in “Mintz&Hoke” is commitment of employees to business. Not every person could buy the shares in this company. Managers create the special atmosphere of commitment, giving workers the right to buy shares. Shareholders are in the board of executive officers. I think this idea leads to creating in “Minz&Hoke” “family” type of corporate culture. There are no accident people, everybody is professional, highly motivated and committed.
Few words about innovation in “Mintz&Hoke”. The company uses so-called Focus Fast method. Focus.Fast. Unlike many processes that rely solely on analytical methodologies, Focus.Fast. injects creativity into the mix. This leads to original and powerful brand ideas that deliver superior results. As a full-service communications group Minz&Hoke offers a complete suite of award-winning creative services including print, broadcast (TV & radio) and design as well as brochures and sales collateral. In addition, “Mintz&Hoke” also own Sight and Sound, their own in-house film, recording and editing facility.
In conclusion I would like to say that this internship was very useful for me. I learned how marketing agency runs, how its business operates. I participated in negotiations with clients, market analysis and accounting. I have learned how to create trustful corporate environment and motivate employees. Now I understand that every business, even marketing, is based on right accounting. The ability to create estimates, invoices, databases helps to run your business. Negotiations with clients are also significant. The ability to create trustful environment with your clients at the first meeting can help to avoid many difficulties. I have learned how to manage with finance, how to create the advertising movie, how to make clients satisfied. Also marketing demands brilliant ideas and innovations methods. I have learned that for every client “Mintz&Hoke” uses individual approach based on the business activity, type of advertising, etc. I understood how important to have mission statement that reflects your idea in business. “Mintz&Hoke” is a really creative team of people that main goal is to help clients win.
2017 Апрель 27
2017 Апрель 27
2017 Апрель 27
2017 Апрель 27