Everything about Virtual, Hybrid, and Webcast AGMs
Everything about Virtual, Hybrid, and Webcast AGMs
Virtual events are the future of the event industry. They are gaining popularity as people become more connected through technology. They provide organizations and businesses with an excellent way to engage with their audiences worldwide. You may doubt it, but the same applies to annual general meetings (AGMs)!
Virtual, hybrid, or webcast AGMs offer an opportunity to overcome many limitations and eliminate some of the barriers associated with physical AGMs. They provide all participants, including executives, shareholders, members, and other stakeholders, with the ability to collaborate securely, accessibly, and flexibly.
By leveraging technological advancements, virtual, hybrid, and webcast AGMs help overcome the previously significant barriers of distance, time, and cost. Transitioning from physical to virtual may seem intimidating and stepping out of your comfort zone is challenging, but worth it. Depending on your needs, limitations, and specific business requirements, a virtual annual general meeting may be the ideal solution.
To have a clear understanding, weigh the pros and cons. What matters most to you? Accessibility for attendees? Simplicity for organizers and speakers? Delivering a memorable experience? Tracking precise KPIs?
In short, as the events worldrapidly evolves, what are your priorities and needs?
Simple and Engaging AGMs, Is It Possible?
Absolutely, AGMs can be easy and enjoyable! This paradigm shift in the events industry is driven by accessibility and simplicity. Thanks to innovative technologies, the reputation of AGMs as cumbersome and dull is a thing of the past.
With distance or the number of attendees no longer a constraint, more people can participate in your AGM. You can gather thousands of people, regardless of where your speakers or attendees are located. Attendees are not limited to a single meeting venue. For many individuals, the focus is on accessibility, flexibility, and cutting costs.
Specialized webcasting platforms also offer useful and user-friendly features for attendees. They provide efficient login processes that do not require any downloads, regardless of the device used for viewing. This feature significantly reduces connection issues and offers users a quick and seamless experience.
In the events and webcasting world, it is crucial to track key performance indicators (KPIs) to measure the success of your event. KPIs allow you to evaluate the impact of your event on your target audience, identify areas for improvement, and make informed decisions for future events. The same applies to both hybrid and virtual AGMs.
With a dedicated tool, the virtual format allows you to track and compile numerous detailed statistics in real-time and post-event. For example, tools like icastGo and icastPro allow you to track and export the following data. (Note: Not all tools on the market compile the same data, so it is advisable to do research beforehand to suit your needs.)
Number of attendees connected
Number of attendees connected at a specific time during the webcast
Types of devices used to attend the webcast
Duration of attendee’s participation
Languages chosen by attendees
Number of comments exchanged during the AGM
Number of questions asked during the AGM
Exact content of questions and comments received during the AGM
Participation in interactive activities (e.g., polls, voting, etc.)
Languages chosen by attendees
How to Organize a Virtual or Hybrid AGM
Organizing a virtual or hybrid AGM comes with its own set of challenges unique to this type of event. To facilitate the process and ensure efficient planning and execution, it is important to ask the right questions and determine your needs and expectations. This will allow you to define the appropriate execution for your organization and attendees, the voting tool to use, and the necessary features.
1. Appropriate execution for your AGM:
Hybrid AGM at a location of your choice, including live streaming and webcasting.
Virtual AGM with professional filming and broadcasting at a location of your choice or in one of our professional studios.
Virtual AGM with video webcast via signal acquisition using your own tools (e.g., webcam, laptop, conference room or other).
Virtual AGM with audio webcast via signal acquisition using your own tools (e.g., webcam, laptop, conference room, or other).
A combination of the above scenarios tailored to your specific needs? No problem! The beauty of digital events lies in their flexibility.
Voting is a key element of AGMs. It allows members to actively participate in decisions that affect their organization. Votes can cover important matters such as budget approval, election of new board members, amendments to bylaws and regulations, etc. It is crucial that these votes are conducted effectively and securely to ensure the integrity of the results.
Technological tools can help facilitate online voting, but it is important to choose the right system to ensure the integrity and security of the votes. Well-organized AGMs with clear and fair voting processes can enhance members' trust in your organization and contribute to its long-term success. Advanced features such as segmented and weighted voting, the ability to vote in advance, real-time vote compilation, and a simplified voting experience for all attendees (both in-person and virtual) can assist in achieving this.
The Security of Data in Virtual, Hybrid, and Webcast AGMs
Data security is crucial for all businesses. Regardless of your industry, daily measures are taken to protect sensitive information from unauthorized access. It is natural to be concerned about data security in virtual, hybrid, and webcast AGMs.
Securing a virtual or hybrid AGM requires careful planning and expertise. To find a provider who understands your data security needs and how to address them, three key elements can guide you:
1. ISO 27001 Standard
The ISO/IEC 27001 standard is the international standard that outlines best practices for creating an information security management system. It covers four areas of data management: information and service availability, critical data integrity, confidentiality of sensitive and customer data, and availability and compliance of legal evidence.
"In the face of the rise in cybercrime and constantly emerging threats, managing cyber risks can seem difficult, if not impossible. ISO/IEC 27001 helps organizations become aware of risks and proactively identify and address vulnerabilities." - International Organization for Standardization
2. Approval from the AMF (Autorité des Marchés Financiers)
In Quebec, several organizations must have their chosen voting tool approved by the Autorité des marchés financiers (AMF). Before selecting your webcasting solution with voting capabilities, inquire with the providers to determine if their tool has been audited and approved by the AMF.
If it has, you can be assured of the tool's quality. Additionally, the provider's team will be prepared to support you during your audit.
3. Authentication Solutions
There are various user authentication systems available today. You must choose the best solution based on the required level of security and the desired level of participant control.
Here are some commonly used authentication solutions:
Single Sign-On (SSO)
Approved email list with a unique password
By implementing these authentication measures, you can enhance the security of your AGM and ensure that only authorized individuals can access the event.
It is crucial to prioritize data security in virtual, hybrid, and webcast AGMs to safeguard sensitive information and maintain the trust of stakeholders.
Choosing the Right Tool and Partner
Meeting tools like Teams and Google Meet are generally not suited for virtual events such as AGMs. While these platforms are user-friendly, they are not designed to handle large audiences and the specific features required for virtual events and AGMs. Additionally, it can be challenging to obtain assistance in case of issues, especially in French.
Therefore, it is essential to find a reliable and secure provider that meets the specific needs of your organization. Take the time to reflect and evaluate possible solutionsbased on your criteria and priorities. This includes considering your audience, speakers, activities, interactions, key performance indicators (KPIs), and the level of support you expect from your provider.
By choosing the right webcasting tool and partner, you can maximize member engagement and provide a high-quality experience for all attendees and organizers. Being in contact with a project manager and being able to discuss your challenges can be helpful and reassuring for many organizers.
For organizations seeking to offer more accessibility and real-time opportunities to their members, virtual, hybrid, and webcast AGMs are an excellent solution. Digicast has been providing this service since 2006and can deliver a secure and customized experience that meets the specific needs of your business. Our expertise in AGMsis unique in the industry. With the right technology in place, AGMs can be interactive and productive, reaching new levels of engagement and democratization. Discuss it with a specialist.