Marathon Training Techniques for Successful IR Events
On October 24, 2011, Niagara Falls, Ontario hosted a huge running event that included a half marathon. It attracted thousands of runners from across North America. The scenic course was situated next to the pristine Niagara on the Lake. As my mind wandered during the run, I thought of the approaching IR season and the correlations between IR events and running events began to form in my mind.
One of the topics that dominates conversations with IR professionals is the attention to detail that has to go into corporate earnings calls. When training for a half marathon, you are consistently micro-managing your progress to make sure you are fully prepared and know what to expect when the BIG day arrives. Familiarity with heart rate, pace and timing are essential.
Correspondingly, with IR professionals, one likes to have a game plan on how the event will unfold. Conducting a dry run (pun intended) with the webcasting provider or online communication tool will help tremendously. Having confidence in the interface functionality that will be used to push the slides and familiarity with how to best communicate with the operator will help reduce technical glitches during the event.
Firming up details on the conference call is important as well. Conferencing service providers should review a booking form with you so that the operator will know exactly how to guide the call on event day.
Questions to consider discussing with your provider:
1. Will the speakers dial out for the live event?
2. Which dial-in numbers are required: local, toll-free or international? If international, what countries?
3. Is there a forward-looking statement required?
4. What information would you like gathered from the participants who call in? And what information would you like captured through webcast registration?
5. Is Q&A open or restricted?
Another theme that arises in successful events is smooth communication. This encompasses having a professional operator who can communicate efficiently and professionally, adapt and troubleshoot. This communication will take place via a communication line or an online communication tool provided by the conferencing service provider.
During a half marathon, runners are communicating and listening to their body and running device to gauge heart rate, distance and re-fuelling with energy gels (not my favorite).
Similarly, IR professionals multitask, communicate via text with co-presenters and listen to cues to progress the earnings call. The online communication tool plays an important role in this process because it enables the IR professional to improve interactions between featured speakers and participants, thereby providing the ability to make better decisions more quickly throughout the event.
Some tips for success:
1. Monitor participants in chronological order as they join the conference.
2. View participant info such as name, phone number and company.
3. View real time phone status of each participant.
4. Determine the queue order for participants during Q&A session.
5. Online chat with co-presenter(s) or operator(s) to manage time sensitive conference details
Preparation and communication are vital components whether you are running any sort of distance or preparing for your next quarterly earnings call. With these tips in mind and put to use, hopefully your next IR event will run as smoothly as the Niagara Falls event – minus the bananas, energy drinks and gels.
Daniel Niemi is a Business Development Executive based in Toronto. Daniel's interests include collaboration solutions, social media, running and baking. Find Daniel on Twitter:@danielniemi.