The Keys to Making an AGM Succeed Virtually

Businesses are scrambling to adapt their annual general meetings (AGMs) in response to recently issued guidance from the ICSA. According to the ICSA, “closed meetings will only be possible after 30 March 2021 if legislation and guidelines at the time preclude gatherings of more than a very limited number.” This is a major update to ICSA’s 2020 guidance, which permitted holding AGMs behind closed doors during the COVID-19 pandemic. But now, businesses need to open up their AGMs even while the pandemic makes it difficult to do so in person. As a result, enterprises are looking to webcast their AGM or hold a live Q&A before the meeting so that they can offer shareholder engagement. In fact, we think the new way forward opens the door for businesses to hold events online through webcasts in a more engaging way that maximizes reach. 

Virtual Opens up the Playing Field 

As our CEO Don Scales wrote in a Forbes column recently, businesses around the world are starting to improve the state of the art with virtual events such as webcasts. Tools and platforms are emerging that make it possible for businesses to make virtual not just an acceptable alternative to in-person conferences, but a desirable one. Virtual opens up the playing field for immersive experiences, such as virtual reality, augmented reality, livestreaming, and video, to engage with people at a much larger scale — through their laptops, mobile devices, and beyond. At CES 2021, a virtual influencer with around 6,000 Instagram followers announced new products during a keynote address. 

Now, your AGM might not be quite ready for virtual reality or augmented reality, but with technologies such as webcasting, you can engage your shareholders in some very interesting ways. The key is to set yourself up for success. Here are some essential critical success factors to bear in mind as you improve your AGM with digital: 

Set Yourself up for Success with a Strong Foundation  

A virtual AGM is no different from an in-person one in some ways. No matter how you conduct your AGM, you first need to agree on the foundational issues such as content, speakers, and your audience, as follows: 

• Meeting date, time, and a notice of meeting date.  
• Attendees: how many are you expecting? 
• Speakers:  how many speakers? Will they be joining via video or audio?  
• Location: will you be streaming the event from a location, remotely, or a blend of the two? 
• Presentation format: will there be slides? 
• Transcript: will you be publishing this online after the event?  

The best AGMs, whether online or offline, no matter how open, always adhere to the fundamentals. What's different, though, is how these fundamental requirements also affect the online execution of the AGM. Just as size of the event affected the choice of a brick-and-mortar location in the pre-pandemic days, the scope of the event affects issues such as broadcast format, as shown below. 

Set Yourself up for Success: Mind the Interlocking Parts 

A virtual AGM requires you to understand a number of moving parts – all of which influence each other. Here are some: 

• Broadcast format: there are many options to consider. They include conference-call only (which might be ideal for smaller meetings); live video webcast (which may be more suited for larger meetings). When Investis Digital helps our clients plan for virtual AGMs, we also typically look many other variables such as the use of completely live video versus pre-recorded formats; or whether you want to rely on single presenters versus multiple presenters; or features such as audience voting and Q&A. 
    
• Platform: it’s essential that you choose a secure platform first and foremost. We strongly suggest hosting your event on a proven platform with a provider that can demonstrate how they ensure that your data is secure and hackproof and that you can pull off the event without a malicious party disrupting the proceedings. The choice of platform is also influenced by your broadcast format (see above). This is another reason why AGMs need to incorporate a secure and proven platform rather than rely on platforms such as Zoom that were designed for far smaller and simpler meetings.   

• Notice of meeting: depending on what solution a business uses, we recommend businesses consider adding in a link to the platform, some instructions on how to join as well as the conference call details to the notice of meeting.  

• Q&A: there are various options for managing an effective Q&A session, including giving attendees the option to ask questions ahead of time as they register; and making it possible for them to type questions live (or ask on a conference call) during the AGM. 

• Registration process: some companies prefer to manage the registration process tightly, whereas others may have a more open process; in either case, we work with clients to ensure that AGM registration goes smoothly and securely.  

These are just some of the details to get right, and the last thing you want to do is improvise your approach or use tools that are not designed to host an AGM. To get started with your AGM, contact Investis Digital Live, which is our is our in-house Webcasting, Webinars, and Live events service. We support more than 750 global events a year through a team of dedicated professionals and our proprietary technology solutions. We are the event experts. 

Download Our Guide 

For more information on mastering a virtual event, download our Guide on Webinars, Webcasting and Virtual Events. This guide provides you with all the insights you need to create bonds with your audience at scale, get high attendance and engagement, faster and more cost-efficiently than you would with an offline event. 

If you'd like to schedule your personal demo of our platform, please click here and our team of experts will be in touch shortly to discuss your virtual AGM needs.

Also, for further information, read these posts from our website: 

“Pre-recorded or Live: Which Is Right for Your Virtual Event?” 

“CES 2021 Offers a Glimpse into the Future of Virtual Engagement” 

“Why the Right Format Can Make or Break Your Virtual Event” 

“Why Content Drives Your Virtual Event” 

“Why Disney’s Virtual Investor Day Made Disney’s Stock Soar” 

“Why a Strong Strategy Must Define Your Virtual Event” 

“Running Successful Events, Virtually” 

“Why Businesses Need to Rethink Virtual Events”