In 2020, something happened to force companies to fully go online (it starts with C and ends with OVID). The problem then was that technology hadn’t fully caught up with the urgency of the situation. Publicy listed companies scrambled to organize digital Annual General Meetings (AGMs) without full knowledge on how to organize voting and gathering of questions in a way that felt regulated and engaging for their shareholders.
Jumping ahead 5 years, some might think that the concept of online AGMs would have died down after COVID. On the contrary, digital tools have enabled companies to offer fully engaging online AGMs – and a new trend of holding “digitally-enabled” AGMs has emerged (and is rising steadily).
This isn’t a temporary blip — it’s a tectonic shift.
What is a Digitally-Enabled AGM Anyway?
Companies today have many options of how to organize their Annual General Meetings. Historically, physical AGMs have been the norm. These meetings, as you would guess, are held in a physical location, and all voting and discussions take place in person.
These are the different variants that differ from physical AGMs:
Virtual: There is no physical location for the meeting and all attendees join via a digital meeting link.
Hybrids: There is a physical location, but some attendees join via a digital meeting link.
Digitally-Enabled: The company broadcasts their meeting from a Studio setting, and all attendees are encouraged to join via a digital meeting link.
Hosting a “digitally-enabled” meeting is a trend that was started by Marks & Spencer during the pandemic. Today, many companies (such as Rolls-Royce and AstraZeneca) have jumped on the digitally-enabled train.
Marks & Spencer Digital AGM 2023
The Case For Going Digitally-Enabled
Here are some strong cases for going digitally-enabled for your next AGM:
Inclusion
Skipping a physical location for your meeting means opening up for investors from all over the world to attend. For the first time, a student shareholder in Nairobi and a retiree in Stockholm can both ask questions and cast votes — without boarding a plane.
Transparency
Digital records and easier access to meeting materials means that everything from votes to questions can be recorded and reviewed. This reduces the room for miscommunication or manipulation.
Engagement
Digital tools for engagement have proven to be more than just a regulatory necessity – they actually improve the communication and understanding between your and your investors. Live polls and sentiment checks means that you can instantly gauge shareholder reactions to specific issues. Upvoting tools and Q&A ensures that the most relevant questions are highlighted for your to prioritise.
Efficiency
Holding a digitally-enabled AGM means saving costs on venues, catering, flights and printed material. Companies can save hundreds of thousands annually. Marks & Spencer concluded that they saved £200k in a year from holding digital meetings.
Not to mention the environmental impact that reducing the amount of physical meetings can have; when you skip the printed materials and flights for hundreds of attendees. Why burn jet fuel for an afternoon that could be held online?
The competitive edge
Investors (especially institutional ones) are increasingly demanding more transparency, better access, and meaningful engagement. Marks & Spencer said the following when asked about their digitally-enabled Annual General Meetings:
“In the digital format we have delivered a near 200% increase in shareholder engagement compared to the last in-person meeting in 2019.”
Numbers like these are powerful for publicly listed companies; wanting not only to increase their investor base, but to keep their current investors close.
Another edge to consider is modernity & innovation signaling. First impressions matter – especially to younger, tech-savvy investors, analysts and potentional partners. When a company runs a sleek, interactive, well-produced AGM, it sends a clear message: “We’re future-ready”.
Holding a digitally-enabled AGM is not only a choice in how you organize your Investor Relations efforts – it’s a branding move.
When it’s digital, it’s shareable, replayable and can be packaged into communications content for your digital channels – an AGM highlight reel, a CEO keynote snippet, a breakout Q&A posted to LinkedIn (for example).
What's next?
Digital AGMs aren’t a tech upgrade. They’re a cultural shift in corporate engagement. Boards, IR officers and comms teams should embrace them now – or risk falling behind.
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