Going from ''in person'' to virtual can be intimidating. Stepping out of your comfort zone is difficult, but often worth it. Depending on your needs, your limitations and the specifics of your business, a virtual AGM may be the ideal solution. Think about it carefully. Before you host a virtual AGM, determine if it is a good option for your organization. Find out the pros and cons of a virtual AGM.
Pros: Goodbye physical constraints
The virtual world is an opportunity to overcome many limitations and break down certain barriers. Distance or number of participants no longer being a constraint, more people will be able to take part in your AGM. Participants are not limited to one location. From Montreal to Vancouver and beyond, all your members can participate in your virtual AGM from the comfort of their own homes.
This is a game changer for everyone. It means flexibility and savings. No need to make arrangements to comply with public health controls and social distancing measures.
With a virtual annual general meeting, you can gather 100,000 people without any problem, no matter where your speakers and participants are located anywhere on the planet!
Cons: More difficult to create a wow effect
At an online event, it can be difficult to create a sense of closeness and rapport with your audience. We have all, at one time or another, attended a virtual event that failed to capture and hold our attention. It is well known that our attention span is volatile... It is possible to make webcast events interesting (and even memorable!), but it requires thought and involvement.
For virtual AGMs, however, it's a little different. Typically, this is the only time that all of your members will be called together and the purpose of the gathering is clear. Obviously, you want to capture the attention of the participants, but not necessarily be out of the ordinary.
The important thing is to control your communications, transmit your messages clearly, and benefit from a professional broadcast that respects your brand image and values.
Pros: Accessibility
Whether it is physical, hybrid or virtual, many factors affect the accessibility of an event. For the sake of inclusion and equity, it is important to take these elements into consideration. For a virtual AGM, there are a number of tools that help make your broadcast more accessible.
Features such as automated captioning and simultaneous translation allow you to reach a multilingual or hearing-impaired audience. This makes it easier to broadcast your content to a large audience that would otherwise be deprived.
Some webcasting platforms also offer very simple connection procedures. Participants do not have to download anything, regardless of the device used for viewing. This minimizes the sources of problems and irritants during the connection. It means speed and simplicity.
Cons: Level of technical and technological difficulty
Your meeting is an important event. For it to be successful, it is best to opt for a specialized tool. These tools offer advanced features that you need to know.
It takes some getting used to, but in the end, the right tool will make your life easier. Some platforms offer features that enhance the participant experience and allow organizers to be self-sufficient. It is recommended to store around for a webcasting tool before making a choice.
There are companies that specialize in corporate communications webcasting that are more than just platform managers. They can help you with every step of your virtual annual general meeting.
Pros: KPIs and sustainability
Key performance indicators (KPIs) are a precise and quantifiable way to measure the performance of an activity. In event management, it is important to track KPIs to know what worked and what didn't, to learn more about your participants and to optimize your next events. Annual general meetings are no exception.
The virtual world allows you to collect a wide range of analytical data and detailed statistics that can be accessed live or recorded. This data allows you to monitor the KPIs of your choice and can guide you during the webcast as well as in the planning and organization of future AGMs.
- Number of connected participants;
- Number of participants connected at a specific time during the webcast;
- Total time logged in;
- Type of devices used to view the webcast;
- Length of time of participation per participant;
- Number of questions asked during the AGM;
- Number of messages exchanged during the AGM;
- Exact content of questions and comments received during the AGM;
- Participation in proposed interactivities (e.g. polls, voting, ...) ;
- and much more
The decision ultimately depends on your specific needs, but in any case, a virtual AGM is a feasible and customizable option. AGMs can be easy and engaging! It can be an opportunity to streamline your processes, save money or reach more attendees. If you have any questions, Digicast's webcast AGM expertise ranges from planning to execution!