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Host your virtual AGM with Delegate PLAY

Ever hosted or participated in an Annual General Meeting (AGM) that was completely held online? If you’ve not yet done so, there’s no real need to panic. Chances are many in Singapore would be in the same boat too. This could be down to a preconceived notion that bringing an AGM online would hinder the quality and smoothness of the event. Or maybe, prior to COVID-19, there was no real need for an AGM to be held online.

Nowadays, hosting an AGM online is something worth considering. This may be even more pertinent if the travel and meeting restrictions do not ease up in the near future. If you’re still on the fence on this matter, have a scroll as we discover the benefits of bringing your AGMs into the virtual world and more specifically, doing so in collaboration with Delegate PLAY.

Increased attendance and accessibility

virtual AGM, increased attendance and accessibility
Image credits: Burst

This first point is relatively self explanatory. Attendees can be present at an online AGM from virtually any device. Accessibility is no longer the hurdle it might have been at a physical AGM. Another great advantage to point out is one that is specific to AGMs. Shareholders and members do tend to come from different parts of the world, especially in larger organisations. With virtual AGMs, the number of potential attendees can significantly increase. There need not be the hassle of planning or even cancelling travel plans. Most things with regards to attending an AGM can be done through a phone, tablet or laptop. 

Reduced overall cost

virtual AGM, reduced cost
Image credits: Burst

Closely linked to the point above, hosting events online saves money. From the attendees’ point of view, there’s no need to travel to be present for the meeting. Thus, transportation costs are kept at a minimum, if any. Attendees can have the autonomy to participate from wherever is convenient to them. The organisation also benefits from a virtual AGM as costs pertaining to venue rentals, security and catering are immediately removed. By choosing to go virtual, all these overheads are replaced by simply having a reliable online event platform.

Improved participation and engagement

virtual events - participation and engagement
Image credits: Burst

Participation is an aspect of AGMs which cannot be overlooked. The whole point of the meeting is to share the company’s financial performance as well as vote on critical operational issues. These are all topics that may not be the easiest to speak about upfront, especially in a large group setting. The virtual setting of an online AGM pushes those who might be more introverted to provide their point of views and speak up. This comes from the live chat function which is part of most online event platforms, such as Delegate PLAY. Increased participation and engagement is something all AGMs should strive for. Discussions and debates can then be led down the path of openness and accountability. 

Transparency and accountability 

AGM - transparency and accountability
Image credits: Burst

To start off with, AGMs are important as they provide transparency as well as bringing accountability to a company’s management team. A virtual AGM can help a company achieve these objectives. This starts with the ease at which a virtual AGM can be recorded and tracked. From questions raised to discussions held, every aspect of the event is instantly recorded. This helps the auditing process later on and can even add a layer of trust between all parties involved. Adding on to that, voting accuracy also improves as the counting of votes is done online. This removes the chance of human error, meaning that results can be displayed almost instantly. 

Going hybrid is always an option

hybrid event
Image credits: Burst

What happens if, after reading through the benefits of virtual AGMs listed above, you still find yourself not quite convinced? There’s no harm in choosing to host a hybrid virtual AGM too. Going hybrid would simply mean having your physical in-person meeting go hand in hand with a virtual meeting. If you’re of the view that physical in-person events show greater involvement, that can still be part of a well planned hybrid event! The key is to ensure the amalgamation between virtual and physical events retains the best elements of each entity. Some members can be present for the physical meeting and vote there and then while some can vote whilst watching online. The final matter to be mindful of is who will be on location and how to enforce the necessary social distancing measures.

As mentioned at the start of this article, travel restrictions are a massive barrier to the continuation of physical events. Hence, an organisation’s ability to adapt to an ever changing world has never been more important. There needs to be discussions on how AGMs will look like in the current (and probably future) climate. Going online is a given, the issue is more on how exactly that should be done. In-depth analysis of the type of formats (i.e virtual or hybrid) and the objectives of the AGM need to be made early in the planning process. Once that is done, align it with an online platform which gives the best chance of attaining those objectives.

Delegate PLAY – An immersive virtual platform putting all uncertainty to an end

While the Singapore events industry recovers and prepares itself for the new normal, it is the perfect time to look at best-in-class digital technologies to address client needs and preferences. To this effect, the recently launched Delegate PLAY is a game changer, enabling vendors to seamlessly host events and build connections. Delegate PLAY is a fully immersive virtual environment which allows users to host online conferences and exhibitions under one integrated platform. Event organisers, sponsors and attendees are therefore able to sync up and network in an online virtual environment, transforming a traditionally offline experience into an online format. To read more about it, click here.

Delegate PLAY helps optimize your events ROI by offering innovative features like custom virtual fairgrounds, real-time audience participation and engagement tracking, accessing events on the go from any device, and unlimited content without any geographical restrictions.

Planning your virtual event on Delegate PLAY? We would love to help make your virtual event a smashing success. For more information or a demo of Delegate PLAY, feel free to contact us via the form below. We promise to get in touch with you in a jiffy.

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