Australian boards and management teams are recognising the benefits of taking annual general meetings (AGMs) and investor relations events online. Over the last 20 years, organisations have been using technology to increase engagement, attendance and interaction. Hosting an online event alongside the planning required for a standard AGM could be a daunting prospect. However, there are a number of steps that can be taken to ensure a digital event runs smoothly and even enhances overall shareholder engagement.
When organising a digital event, it’s best to take a strategic approach. Think about what the event should achieve and work backwards. For example, it could be to record high attendance figures, to be able to make the event available online to those who could not attend in person, or it might simply be to fulfil the administrative requirement of holding a particular event.
Technical requirements
There’s a long list of technical requirements to consider before hosting a digital event and it might be helpful to seek specialist support. When planning the event, consider whether it will be purely online, or whether there will also be a physical audience in attendance, making it a hybrid event. Having a physical audience and streaming online represents the best of both worlds. However, in order to make the event a success, ensure the venue hosting the event is supportive. This can be done by discussing the following factors with the venue. If the online event will be hosted in-house, without using an external venue, ensure that the following factors are taken into account.
- Reliable internet. It sounds simple but many still get it wrong. Having a dedicated internet connection is a must, preferably via an ethernet cable, as using WIFI can add unnecessary risk. Always ask about the internet connection when choosing to stream from a venue, office or studio.
- Audio or video? Will the audience only be able to hear what is being discussed, or will the presenters appear on camera as well? If it is the latter, take into account factors such as lighting and the room set-up. It’s important to ensure a professional set-up is in place for lighting and audio. Lapel microphones work best as they allow presenters to have a conversation and move around naturally. If the event is being run from a broadcast studio or offsite venue, be sure to get in touch with audio technicians ahead of time.
- Managing question and answer sessions. Consider how questions will be taken from the remote audience. If the event is being managed internally, assign the role of a ‘question moderator’ to a member of staff. They will be responsible for filtering questions, answering any technical queries and ensuring all questions are responded to. If too many questions are submitted and there isn’t time to respond, obtain a transcript from the provider and respond to the questions once the event is over. This can then be sent to the attendees, along with a recording of the event. Trying to manage this process alongside running the event itself, however, could be difficult and may increase the risk associated with it, as well as having a negative impact on the online attendees’ experience. An external provider may be able to manage this process.
Having a dedicated internet connection is a must, preferably via an ethernet cable, as using WIFI can add unnecessary risk.
Formats
Digital events can be conducted in a variety of formats. The options available are dependent on factors such as presenter location, quality of internet connection and how interactive or engaging the event needs to be.
- Audio and slides. This option is ideal if there are online attendees in a remote location with poor internet connection, or if data is the area of focus in the presentation. A headshot of the presenter can be included instead of using a live video feed, so the audience can see who is speaking.
- Video and slides. In this style, the presenter or presenters appear on high-definition camera with synchronised slides. This works well in offering the online audience a more engaging experience, because they feel like they are in the room.
- Video only. This option is recommended for high-profile company announcements, where visual and personal communication is key. If this option is selected, consider using a broadcast studio with a green screen background and panel desk to ensure that the broadcast is professional.
- Assisted teleconference. This is the traditional format used for investor relations Q&A sessions. This option works well for taking questions from an online audience that prefers to speak its questions, rather than type them using a chatbox (a text-based forum for participants to chat online in real-time). This can also be combined with any of the above options.
After the event – extending the audience
One of the benefits of using digital technology for an AGM is that the event can be made available to shareholders after it has taken place, allowing for increased engagement with investors. Live events have an average attendance rate of 35 per cent; this demonstrates the potential for audience engagement after the event. It is useful, therefore, to have a strategy in place for making the event recording available, which aligns with your on-demand strategy.
One important aspect to consider when hosting an on-demand event, is how the interactive aspects of the event will be viewed in the recording. For example, if voting sessions or polls are carried out as part of the live event, those watching on-demand will not be able to vote. Consider editing this part of the broadcast out, or have the presenter mention this during the event. There is also the option to overlay slides onto the record referring to this. Ensure this is covered with the provider before the event so that they can outline the options available.
There’s a range of online hosting options available for a recorded event, some of them are free, and others will charge a fee. When selecting an on-demand hosting platform, always look for one that is easy-to-use and that has reporting functionality. This can help to understand how many stakeholders are viewing the event for the purposes of tracking its effectiveness.
After the event – extending the audience
One of the benefits of using digital technology for an AGM is that the event can be made available to shareholders after it has taken place, allowing for increased engagement with investors. Live events have an average attendance rate of 35 per cent; this demonstrates the potential for audience engagement after the event. It is useful, therefore, to have a strategy in place for making the event recording available, which aligns with your on-demand strategy.
One important aspect to consider when hosting an on-demand event, is how the interactive aspects of the event will be viewed in the recording. For example, if voting sessions or polls are carried out as part of the live event, those watching on-demand will not be able to vote. Consider editing this part of the broadcast out, or have the presenter mention this during the event. There is also the option to overlay slides onto the record referring to this. Ensure this is covered with the provider before the event so that they can outline the options available.
There’s a range of online hosting options available for a recorded event, some of them are free, and others will charge a fee. When selecting an on-demand hosting platform, always look for one that is easy-to-use and that has reporting functionality. This can help to understand how many stakeholders are viewing the event for the purposes of tracking its effectiveness.
Data capture
A variety of data and metrics can be captured when running an online event. To really benefit from this functionality, it’s important to understand why certain data is being gathered, and what it will be used for. This will help to focus areas such as registration fields on gathering the information that is really needed. Doing so will help to make these fields as short as possible, which will make it easier for attendees to register. Having too many fields can be a deterrent to registration.
It’s important to understand why certain data is being gathered, and what it will be used for.
Aim to capture data before, during and after the event. Consider capturing some or all of the following metrics:
- registrations
- registrations vs attendees
- entry and exit times
- devices used
- location
- attendee duration
- questions asked
- chat submitted
- polling results.
Gathering and analysing this kind of data can help improve future events and the overall attendee experience.
In August 2019 Governance Institute and Redback Connect hosted a webinar that discussed the topics covered in this article. You can view the webinar via Governance Institute’s online library:
