virtual AGM: Previous few months have been challenging for organisers and businesses due to the rapid growth of coronavirus cases. Many organisations failed to conduct their annual general meetings in response to the outbreak of the virus. The results of which were not so enticing as stakeholders did not persuade well with the annual plans presented by the organisers.
Looking at the current situation, it was necessary for companies to respond sooner to the changing circumstances to carry forward their business operations efficiently.
From a corporate perspective, switching from the conventional way of conducting AGM requires a number of changes and the utmost vital thing is improving the mindset of the people. In the light of the global pandemic, more and more businesses are committing to virtual AGM solutions for better exchange of thoughts and interaction with investors.
In this article we are going to share a complete overview of how to conduct a virtual AGM with stakeholders alongside some of the key benefits of hosting a virtual AGM. Time to get started with a real quick and easy guide for virtual AGMs!
What is a virtual AGM?
Any business, no matter big or small, knows how crucial annual general meetings are for their companies. Before the pandemic hit the nation, few people were unable to attend it due to the geographical restrictions. This resulted in missing out on the critical information discussed during the traditional meetings.
With the rapid demand of digital solutions, organisations were able to resolve the limitation of geographical barriers seamlessly. As virtual meetings are conducted over the internet it enables interested shareholders to participate in the meeting irrespective of wherever they reside. In short, it escalates the need for travelling which allows attendees to join the meeting via using any device supported by the web.
Organisations have started to adapt themselves in the new normal and they believe the change is for the good. It has enabled stakeholders to seamlessly interact with the company’s directors in order to curate the overall performance of the year and set goals for the future. In the following segment, we have added a few tips to conduct the most successful virtual AGM. Let’s have a look!
Tips for hosting Virtual AGM
AGMs are one of the most important events for businesses that are held annually each year. Organising a virtual AGM comes with some adhering rules and guidelines that you must know before planning to host a meeting online. For instance, having the right technology partner is one of the critical steps while planning a virtual AGM.
A comprehensive virtual AGM platform offers limitless opportunities for its participants in order to facilitate more free-flowing conversations. The right platform must include user-friendly tools and tactics such as chat rooms for open networking opportunities alongside live polls, follow-up surveys, Q&As, and much more during the virtual meeting to avoid any unwanted distractions. If these aren’t enough for you to decide whether to host a virtual AGM, below given tips will help you change your mind.
1. Inform your shareholders
Once you sketch out your plans for virtual AGM, it’s important to inform your investors about the program. Notify each one of them individually by sending emails or if your plans are to invite global shareholders, include social media to promote and reach more potential organisational members seamlessly. Additionally, your virtual AGM must have all the relevant information of the meeting such as Which date are you organising the meeting, Timing & Duration of the event, and most importantly the virtual AGM link provided one day prior to the meeting is conducted.
2. Facilitate yourself with the right technology
During this difficult time of coronavirus, switching to a digital platform may have provided endless opportunities. To continue to leverage this, organisers must pay attention to each tech tools and tactics authentically. Today, as the need for virtual AGM and hybrid AGM rises, there are a wide variety of event providers present in the market that are offering comprehensive 3D services to their customers. Choose a technology software that offers a wide range of features that keep your attendees engaged, upscale their networking skills, enhance their communication, give you a seamless personalised experience.
Besides that, a platform that offers real-time live chat functionality alongside live polls, quizzes, Q&As, surveys and so forth can really help organisers to keep their attendees hooked until the end of the meeting.
Therefore, while choosing your platform consider each and every aspect carefully for delivering captivating events.
3. Keep it private
Virtual AGM involves confidential discussions between shareholders and members of the board to understand their overall year’s performance and set future goals. So while hosting an AGM, your top priority should be the privacy of the meeting to ensure you can interact and voice opinions with your investors without being concerned about any third-party involvement. Host your virtual meetings with a far-reaching virtual AGM platform that is secure, scalable, authentic and absolutely prudent.
Rehearsing is the utmost important thing next to choosing the right platform. Invite key members at your meeting prior to the meeting in order to check whether everything is working smoothly and systematically. Check everything that is concerned with technical equipment to avoid the issue if there is any and fix it before the event.
5. Have a back-up plan
Even after conducting a rehearsal session there are chances of any sudden technical glitch that might occur during the meeting. Hence, having a back-up plan is a must! This may help you run a smooth and successful virtual AGM and exclude any last minute hassle. Now there may be a situation where your attendees may find any issue from their end, it is important to inform them about your plan-B beforehand.
Over to you
AGMs have been an important part of every industry that are held annually every year. Hosting a virtual AGM over a secure and in-all platform can give investors and organisations a clear opportunity to drive their yearly performance authentically while also allowing them to set their future goals without any hindrance. In case you are new to the world of virtual industry and looking for an opportunity to take your upcoming annual general meeting online, with the help of above mentioned tips will absolutely help in achieving your goals and curate the most successful event of all time!
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