Category Archives: investor relations

XX – Webcast provider doesn’t equal webcast provider: Interpreting a proposal

As a communication professional we are often confronted with trying to interpret a proposal that has landed on our desks from one of our external providers. Ok we asked for one, but now it’s our job to check and see if what is being offered is what we really need and wanted in the first place. Does the price tag meet our expectations or is it way over budget?

We tend to be a bit skeptical, but if you want high quality, reliability and efficiency, it’s definitely worth paying an appropriate price.

Looking at a typical proposal

Assuming you are doing a “standard” webcast for video and slides on demand, for the Internet, this is what a proposal (from Solutionpark) looks like:

  • Briefing, planning and coordination – every external provider needs time to be briefed and set up a plan for the implementation of a webcast.
  • Set-up, installation, technical check at the event location – depending on where you are holding the event, interview, roundtable, training session, and depending on the number of participants, guests, people, speakers attending, the technical set-up and respective checks will take the appropriate time. Rather be sure everything is working properly in advance in order to avoid any mishaps, if possible. You will feel calmer and so will your external provider.
  • Cameraman and streaming engineer – these are the specialists behind the camera, in charge of directing, at the mixing desk and the computer making sure that the video and slides match. In addition this item includes encoding the video and sending the link for the Internet.
  • Software and hardware: usage of PLAY software, license and PLAY server utilization, LiveBox, streaming equipment, multiple encoder, backup, converter, slide control, cameras, tripods, hosting, delivery and distribution via Akamai network (content delivery network) – these are the basis for a high-quality webcast and I wouldn’t want to go with anything less.
  • Back-up of the video – for your records you might want to have a DVD.
  • Transport of equipment and expenses – your event might take place nearby, but the equipment needs to be lugged to the location no matter what.
  • Phone service helpline – in case you need a special helpline during the event itself, this is a useful option to consider.

All I can say is, good luck and hope you are successful and happy with your next webcast.

XVI – Experts talking

Remember issue management? Agenda setting? Two key topics in communication theory. Unfortunately few companies take this aspect of communication seriously. While it would make so much sense to sit down, take a little time to think about the main themes you want to focus on for the long-term and that go beyond daily business. These are specific yet broader topics, e.g. water resources, climate change, microinsurance etc. that you can connect to your business, that are relevant to your industry and clients, and that they can associate with.

Raising the company voice on important topics

Determine who in your organization is or can become an expert in those fields and let them speak out on behalf of the organization. As knowledge is one of your best assets and specialists are one of the most effective means of communication, use them. Get them to the table, talk to them, listen to them and let their voice be heard.

Demonstrating transparency and open-mindedness

You have no idea what impact such statements can have. It’s all about credibility, reputation, image and demonstrating expertise through your own employees. One way of doing that, i.e. the communication channel chosen in this case, is to record the individual statements on video and publish them on the Internet. That’s the quickest face-to-face information you can get. A Swiss bank recently asked their hedge fund managers to talk about their products and portray their insight on the current market environment which were put on tape and published on the company’s website. What a great way to ‘meet’ the respective hedge fund managers on the Internet.

One can well imagine interested hedge funds surfing the net, looking for new contacts and information. Avoiding high travel costs, they can get a first impression of the banks’ experts, simply by watching the videos online. Wouldn’t you want that kind of exposure?

XI – One of the most important events of the year

The Annual General Meeting (AGM) is always a highlight in a company’s yearly event calendar. So much preparation, so many things to think about, so much budget spent for a single half day. Nevertheless, it’s an important event for internal and external audiences such as the Executive and Board members, the legal department, investor relations, all shareholders and investors. Often the communications department is involved as well as an event agency, simultaneous translators and a streaming company in charge of the videotaping and broadcasting.

Keeping track of your target audiences

Leading up to the ‘big day’ I remember many arguments and discussions about all kinds of internal and external communication issues including ‘Shall we show it to employees?’, ‘Why should we show it to employees?’ ‘Do we put in on the Internet or not?’, ‘Does the public need to know?’ etc. The Annual General Meeting is THE event a company holds for its shareholders and includes the entire senior management and executive staff as well as the organization’s Board members. Employees and the general public sometimes get forgotten in the process. I find it just as relevant and significant to keep them in the loop of a company’s developments. And that is a communication departments job! So I can only plead for you to take on the responsibility, get a streaming provider such as Solutionpark on board, and get moving.

Employees first!

We webcast the Annual General Meeting on the intranet for all employees to see, i.e. for those who aren’t shareholders and for those who are but decided not to attend the AGM in person. It’s simple transparent information policy to keep everyone up-to-date and not to exclude internal resources whoever and wherever they may be. Besides, it’s a legal requirement to keep a copy of the recording anyway, so why not produce it as a webcast and put it on the web.

I find this a good example of using multimedia tools to create more transparency and inclusiveness. Don’t we hear too often: ‘Why wasn’t I informed?’, ‘How come I didn’t hear about this or that?’ The whole purpose of putting videos on the Internet is to reach a broad audience and make an event available to everyone. All of your shareholders and employees will be grateful to you.

X – A typical day at the office – communication in action

On a typical day, when a publicly-traded company published their quarterly financial results, it all begins at 7 am with sending out the official press release and financial results presentation to the media, analysts and investors as well as publishing it all on the company website. An E-mail is sent out to all employees informing on the news while the internal communication specialist and internal services people get the auditorium ready for the upcoming employee information event.

Pulling it all together

The IT person responsible for helping with the webcast and the two streaming engineers from Solutionpark arrive and set up 2-3 cameras, hook up laptops and lay the necessary cables. I check the lighting and the sound (microphones) and upload the employee presentation onto the laptop next to the speaker’s desk. By 8 am staff piles into the auditorium – once again filled to the very last seat – and eagerly awaits the Executives Team’s explanations of the quarterly financial results. The session will be recorded including the slides and Q&A and is published on the intranet an hour following the staff event as a Video on Demand.DSC_0055

By 9 o’clock the Executive Team moves on to the boardroom where the investor call will be held shortly. The scripts are ready and so are the head of investor relations and the streaming engineers who will ensure that the slides are synchronized with the speeches from the CEO and CFO. This investor call will be broadcast live, i.e for everyone to see who logs on (and registers) on the company website. While the live webcast is in full swing in the boardroom, the auditorium is once again remodeled and set up for the onsite press conference.

Moving forward through the day

I remember the poor guys from the internal services department well who had to lug hundreds of chairs, shove around tables and prepare the information booth for the awaited financial analysts and business journalists. As employees, we were not allowed to participate in the press conferences, though we’d sneak through the hallway and try to get a glimpse of who had come. Are there photographers present? Has a journalist from a prestigious financial paper arrived? Have the analysts dressed in their sleek designer outfits again?

By noon, the show is over, the employee webcast published on the intranet, the investor webcast marked for download on the Internet, journalists’ and analysts’ questions answered. Oh well, just a typical day at the office.

VII – Before the camera starts rolling

When you are working with external providers I find it most helpful to get to know them personally. It makes life much easier in the long run. At the beginning I invested a couple hours to travel across town with one of the company’s IT professional in tow, to get to know the streaming guys at Solutionpark. This was a number of years ago. And they were not as I expected. No weird IT geeks sitting in a corner glued to their PC screens. They welcomed us with open arms and couldn’t wait to show us around. Solutionpark equipmentThe place was full of interesting equipment they had built into mobile trolleys themselves as they explained how they’d go on location and record, encode and stream a company’s investor presentation, press conference or other live event onto the web. So how would this work for us? Basically we wanted to replace the old way of recording a staff event on VHS cassettes (!) which would be copied manually and then sent by mail to the various offices around the world. How endlessly tedious and time-consuming!

The technical side of it all

IMG_1520The good thing was that our streaming provider has their own encoding center where all the equipment is permanently installed on site. This means that they are always ready with many encoders and backup devices available, a redundant and reliable Internet upstream, optimized connectivity to Akamai (a Content Distribution Network) for live streaming and access to any European satellite for live webcasts. All recordings are done in broadcast quality. This set-up has proven to be flexible, reliable and cost-efficient and a number of times I’d call to say we’re having an event on short notice. They bring everything, i.e. usually two people, a streaming engineer and a web TV producer, and the full equipment. All I had to do is get the speakers and audience organized and off we went. Following the recording, I’d receive a link which we then placed on the respective company webpage. That’s it.

 

Before you get started, here are some things you should clarify in advance:

  • When and where do you want to record your video?
  • At what time do you want to publish your video and to whom?
  • How big will the video file be?
  • How long do you intend to record?
  • How time-critical is your event?
  • Will the webcast be done live or on demand?
  • Does your organization have a strong enough pipeline and bandwidth for uploading and playing videos?
  • How many people will be watching simultaneously?
  • Can you bypass your firewall, proxy and are there IT security issues with your local IT department?
  • Do you have electrical power and a phone line available onsite?

Once you have checked out the technicalities, you are set to go. Your external partner can surely help you in finding out some of the points. These usually just have to be ticked off the first time you webcast an event. Assuming you will conduct your future events in the same location, the set up will already have been established. From then on, you can lean back and enjoy the event.

VI – Show me the advantages and I will show you the content

Picture 13In communication we talk about two-way communication, sender and receiver, interactive and dialogue, viral and e-communication, as well as integrated communication plans and concepts. With webcasts, I am sending out very specific information, portioned into digestible news blocks or categories on average to a very broad audience. Therefore my role was to brief and coach the CEO and Executive Team members as to their performance in front of the camera as well as the messages we wanted them to bring across to employees, clients, shareholders etc. I made sure any scripts and presentation print-outs were available, the microphones working, the speakers desk set up and any and Q&As prepared. Often times during an employee information event, I’d sit in the front row close to the speaker’s desk, just in case something went wrong. From there I also had eye contact with the cameraman recording the webcast who could give me hand signs should any technical issues arise.

Reading the non-verbal communication signs

Be aware of who you are broadcasting to. Depending on your receivers, you need to prepare your content accordingly. As this is an honest and sometimes non-forgiving format, where people pick up on non-verbal signs as much as what is actually said, interpretations may vary depending on cultures, religions, gender and hierarchical level. IMG_1552Keep your communication bits relevant, significant and to the point. It all depends on how it is delivered. You have surely heard that a million times, but take note, with webcast this holds true even more.

Connecting with the audience

I see so much wasted content, that I wonder what really sticks with the people. One of the best examples I experienced was the introductory speech of a new CEO, early in the morning on a cold winter day in February where employees at first seemed half asleep sitting in the auditorium where they suddenly got captivated by the company’s new leader through her clarity and direction, charisma and personal engagement. Wow, that was an experience. We webcast it to all our local offices around the globe and received instant feedback on our new CEO from the far corners of the world.

V – See me, hear me; loud and clear: the value of webcasting

Let me make one thing clear: There is tremendous value in introducing streaming products to your organization, if you believe it or not. Why? Because you are communicating directly, practically face-to-face and in a transparent and uncensored manner with your audiences. Getting feedback is easy and people will tell you quite honestly what they think of content you just published. In addition, hundreds of companies in Switzerland alone have produced webcasts over the past 10 years.

Bridging the gap between IT and communicationPicture 16

When I first started using webcasts, that was for employee information events in internal communication, I was a little bit skeptical because I did not fully understand what broadcasting on the Internet was all about or how it really worked, and that I as a communication professional would be able to reap such benefits from it in my work during many years. Prior, I had experienced the old-fashioned business TV in all its glory, but couldn’t quite imagine that webcasting would be so easy – and less costly!

After a couple of tests together with one of our IT guys and the people from Solutionpark, I slowly got the hang of it and figured that this would work for a geographically highly spread out audience on multiple continents on the one hand and even more importantly, that our CEO would go for it and actively participate as well as other members of the Executive Team. I must say that they had already been doing live investor calls with presentation webcasts (slides only) and were used to the set-up, though without a camera or live audience in front of them. It turned out to be a success with employees eager to see and hear the CEO’s presentations on quarterly results, strategy, significant personnel announcements etc. Since then I have produced many webcasts for various occasions and communication situations and have become a firm believer in the benefits of streaming technology.

Speaking out

NZZ Online

NZZ Online

I have been talking primarily from a communication perspective but want to point out the value for CEOs, Executive Team and/or Board members as well. Through this communication channel a CEO gains significant visibility throughout the organization, even without traveling around and thus saving time and travel costs. Plus, a leader’s credibility can be strengthened on a broad scale and key messages reinforced across entities and organizational structures. Independent of time zone, hierarchy, function, corporate culture or location, everyone with access to the web can see and hear a company’s messages.

What do you think? Send me your thoughts and comments.

Invitation to the ‹‹CCBlog›› event at Solutionpark

Dear readers

Come and meet me, the author of ‹‹Christine’s Communication Blog›› and look behind the scenes of a webcast production. We are happy to invite you to one of our breakfast / lunch meetings or one of our Aperos on Communication and Webcasts at Solutionpark. You will be given a short introduction to webcasts before we tell you about various possibilities of application and show you how a webcast is produced in a live demonstration. You will have the opportunity to get behind the camera yourself and try out your movie-making skills. Watch a streaming engineer at work and learn about how video is encoded and prepared for the Internet.

Location and time:

Breakfast Meeting:  8-9 am,  October 20, 2009 
                                                          October 27, 2009

Lunch Meeting:  12-1 pm,  October 21, 2009
                                                      October 28, 2009

Apero:  6-7 pm,  October 21, 2009 
                                   October 29, 2009

All events will take place at Solutionpark, on the Gartenhofstrasse 15,
1. floor, in Zurich.

Please sign up until October 19, 2009 at christine.schindler@ccblog.ch
or call +41 446 30 60.

We look forward to meeting you.
Best regards
Christine

IV – If you are expecting more of others, expect more from yourself too

I have been working in communication departments for many years for demanding bosses and evenmore demanding CEOs. The orders are passed down the line and we tend to, at least sometimes, pass on those tasks to outside parties. Some communications people may say: “You just do it, I don’t want to have anything to do with it. And, it’s not allowed to cost too much.” Or “I want to know this and that and every detail. And why is it this way and why that way and why why why…..” That is not how it is going to work. You got to learn a little bit about webcasts and trust in the experts. Don’t forget, it’s about team work and collaboration. The goal is to have things run smoothly and look good. So how can you make it happen?

Test, check, test, check…

pic3Set realistic expectations, allow yourself enough time for the preparation and testing phase. Take the lead in organizing the location and briefing the speakers. It helps to clarify the logistical details in advance, to make sure you have things in place before you get started. Once the camera is rolling it’s much harder to fix something that isn’t already working.

From my experience I can tell you that it is invaluable to be well organized, have your scripts, presentations, Q&As etc. ready, to stay calm and let the streaming engineers and web TV producers do their job! Do a sound and light check, make sure the air condition is working if you expect a large crowd and try to make your speakers as comfortable as possible. Accompany them to the start of the webcast and reassure them of the benefits of its use and cost effectiveness.

Tracking your viewers’ behavior

Following the production of a webcast and its publication on the respective Internet page, you will have the opportunity to get instant feedback from users e.g. via e-mail and get hard facts in the form of statistics from the respective Internet page usage. This way you get a track record immediately. I’d have so many people call or e-mail me on the latest video stream and they’d tell me right away if for some reason something wasn’t working.

The good news is that you can rely on an external partner like Solutionpark who takes care of and looks after the entire technical side. I produced many many webcasts and videos for the intra- and Internet over years for a variety of internal and external audiences and scenarios, even in crisis situations. Every time the video was completed and uploaded in time for all to watch. We also did a lot live streaming and as far as I can remember there were no major glitches that the viewers would have noticed. On that note I can only say: it’s worth it, giving it a try.