AGMs ( Annual General Meetings) is one of the most important events for every industry that are held annually every year. The meeting takes place between the interested stakeholders and the company’s director to discuss the overall performance of the year.
With the sudden outbreak of coronavirus global pandemic, the most important events of the year either got postponed or cancelled. To ensure the health safety of the nation, restrictions have been imposed on travelling and public gatherings. To meet the social distancing protocols enforced by the government, organisations have leveraged virtual event technology to keep going. Many organisations were organising virtual events and meetings for a long period of time. Walking ahead with times in 2020, many organsations has transformed their live physical internal & external events into a virtual format. COVID-19 has been a catalyst in the transformation of in-person events into a visually rich virtual environment.
Right Technology for Meetings & Conferences
Annual general meetings planned for 2020 and beyond have been moved online on a comprehensive virtual AGM platform. Many organisations took the initiative and planned up to host their AGMs virtually in the future as well. Organisations that hold a widespread global presence were benefiting from virtual event technology even before coronavirus came into frame. Whereas organisations that never thought about going online have opted to host their events virtually and generate business revenues.
A sudden boost in the percentage of virtual conferences and meetings has been noted this year. As the percentage of virtual AGMs has increased exponentially, it resulted in upscaling the demand for virtual event platforms. Today, there are ample virtual conferencing players available in the market that offer best-in-class services and engaging solutions. Selecting the best one out depends on your business needs. To ensure a successful virtual AGM leveraging the right technology and running a well-planned virtual AGM is a must.
In this blog post, we have thrown light on what are virtual AGMs? And what are the most effective tips to host a successful virtual AGM? Scroll down to know more about virtual AGMs.
What are Virtual AGMs?
Virtual AGMs are an online replication of in-person AGMS. It is an online meeting organised between the shareholder and the director of the company on a web-based virtual AGM platform.
Virtual AGMs are organised over the internet. It enables interested shareholders to tune-in from their respective remote locations rather than gathering at an on-site physical venue. Virtual AGMs escalate the need for travelling as attendees can participate in it via any device supported by the internet. During the challenging times of pandemic, hosting virtual AGMs has become the new normal. It enables stakeholders & the company’s director or CEO to have open discussions about overall yearly performance and set goals for the future. Further, we have added a few tips to host a successful virtual AGM. Have a look:
Tips for Hosting a Virtual AGM
Many of you must have hosted AGMs before, but organising a virtual AGM works on an entirely different approach. Organisations must strictly adhere to the guidelines of hosting a virtual AGM and abide by the rules and regulations. Selecting the right technology partner is a crucial step in hosting a successful virtual AGM. A comprehensive virtual AGM platform enables participants to be a part of the event and have free-flowing communications. The right platform will facilitate the organiser to have interactive virtual chat rooms for open discussions. Additionally, it should also offer the ability to organise polls, surveys, Q&A, etc. during virtual AGMs to break the monotony of looking into the screen for long hours. Engaging features offered by the platform helps in keeping attendees engaged with the virtual AGMs throughout.
If you have decided to host a virtual AGM, you must educate your participants about the online medium beforehand. Make your attendees aware of the features incorporated in the event and how to use it. If you are planning to host your first virtual or hybrid AGM, we have listed easy-to-follow tips for hosting a virtual AGM. Have a look:
#1. Notify your shareholders
Once you decide to go virtual, notifying your shareholders about virtual AGM is the first step in line. Send a notice to all levels of interested shareholders to be part of a virtual AGM. The notice must include all the relevant information of the event like date, time, duration, and virtual AGM link.
#2. Send an instructions maneuver via email
Once your shareholders are aware of the upcoming virtual AGM, send an instruction maneuver over the email. The maneuver must contain all the information starting from how to navigate and participate in virtual AGMs. Sending a detailed step-by-step instruction guide prior to the event enables participants to easily pave their way through the event. In short, an instruction maneuver makes it easy for attendees to access the conference seamlessly.
#3. Leverage the right technology
Selecting the right virtual platform is a must to host a successful virtual AGM. Today, a wide range of 3D virtual & hybrid AGM platform service providers are available in the market that offers comprehensive services. Leverage the platform that offers engaging tools, interactive features, and customisable solutions. The best virtual platform enables participants to connect, network and have free-flowing interactions via live chats in real-time seamlessly. Whereas the engaging features offered by the platform such as Q&A, live polls, surveys, contests, etc. helps in keeping attendees engaged at the event. While selecting a platform ensure that it should have robust data measuring capabilities. It helps in measuring how well the event performed by recording every digital attendee move right from start till the finish line.
#4. Keep your virtual AGM settings private
AGM involves discussions on the overall company’s performance of the year as well as setting up goals for the future. While hosting a virtual shareholder meeting, privacy remains the top concern of organisers as the exchange of confidential information and futuristic plans take place. Keep the settings of virtual AGM private. Host a virtual AGM on a comprehensive virtual AGM platform that is built on a safe, secure, reliable, and scalable foundation. It helps in keeping your eAGM secure by preventing it from unauthorized third parties.
#5. Rehearse, Rehearse & Rehearse
Do as many rehearsals as possible prior to virtual AGM. Rehearse in the dress code in front of others or record yourself. Figure out where you went wrong and fix it before the actual event. Check out your internet connection and all technical equipment that will be utilized during virtual AGM.
#6. Always keep a plan-B ready
Always create a backup plan to host a successful virtual AGM. Virtual events may result in having unexpected technical issues at the last movement. Having a plan B ready in hand makes your event run smoothly without falling down. Also, keep in mind to inform your attendees about Plan-B beforehand.
If you are planning to go virtual with your AGM for the first time, the above-mentioned tips are sure to help you out to run a successful virtual AGM. If you have not yet thought about it, think now, Time is running out!