Next Gen Investor Relations: Virtual Reality
Augmented, Mixed, and Virtual Reality are Covid winners and backed by developments in AI, these technologies are experiencing a new lease of life.
2020 saw IR professionals embrace virtual options and technologies in ways they couldn’t have imagined. Today the future is wide open for implementing tech such as Virtual Reality to communicate with stakeholders in a meaningful way far beyond being a gimmick. Virtual Reality provides a unique, immersive experience that key stakeholders can realise from the comfort of their home offices.
Sonal Patel spoke to IR Magazine about the burgeoning opportunity for Virtual Reality within Investor Relations. Click here for the full article or read a few excerpts below:
The need for VR hardware, its associated costs and just the newness of the technology have created a reluctance in the past, notes Sonal Patel, Partner and Executive Producer at MerchantCantos in London. She adds, however, that ‘despite barriers to adoption, VR certainly has the potential to complement an important company story in a spectacular way.’
And while equipment costs might be off-putting, Patel advises companies to bear in mind the savings that are also involved. ‘Rather than taking analysts and institutional investors around the world to visit a new factory, office, or facility, you’re achieving a three-day trip in half an hour,’ she points out. This offers added benefits, with a ‘boost to your green credentials’ as well as being the safest option in the post-Covid-19 new normal – or simply if you happen to have operations in remote or high-risk areas.
‘AGMs, investor meetings, capital markets days, roadshows and ESG presentations are perfect environments in which to provide this totally immersive experience in the real or imagined world,’ continues Patel.
And it’s not just for the entertainment business.
‘Of course it works best when you have something amazing to show. Imagine a site tour of your new Johannesburg manufacturing facility or your state-of-the-art high rise [building],’ says Patel. ‘Perhaps it’s an opportunity to showcase a neurosurgical technique or to take your latest aircraft for a test run. Anywhere users couldn't ordinarily go themselves makes it an illuminating and unforgettable experience.’
If you have any questions on how to connect with stakeholders in both the physical and the virtual world, please speak to Sonal Patel, Film Partner and Executive Producer.