Fine says, in essence, he asks the CEO what they


want the headline to be the day after Investor Day, what perceptions do they want to change, what would be the street’s ideal perception of the company, and how does that compare to what it is today. Fine adds, the main reason to attend an Investor


Day is to learn about a company’s strategy and vision and to get an update on the company’s guidance for the next three years. “Many companies embark on preparing for an


Investor Day and part way through the preparation, it becomes clear they do not have a clear strategic plan with measurable goals that can be shared with investors,” Fine says. “A key question we ask the CEO upfront is – do you have a clear strategic plan with new content that you are willing to share with the street?” If they do have a strategic plan, Fine says the company can use it to build the Investor Day. But if the company does not, he says it raises questions as to whether there will be enough meaningful content to justify holding an Investor Day. “Developing trust and rapport early on with


presenting executives with the goal of securing their buy-in on the process, objectives and time commit- ment is critical,” says To. Nordwall acknowledges that an advisory firm might


never know the company as well as management, but gaining third-party objectivity can help management tell their story in the most effective way. “Tis is essential in safeguarding management’s credibility, ultimately the top driver in investment decisions,” Nordwall adds. “Additionally, make listening your priority – be


an engaged and active listener when working with management so that you can bring transparency to their story and help to deliver a compelling Investor Day,” Nordwall says. Hayes further believes that understanding the business terminology, perspective and orientation of the CEO is an accelerant for the advisory team that can then layer in deep investor relations expertise. Ditmire believes if IROs are looking to use an


investor day to remove barriers for their company’s story and stock, and permanently shift the narrative, they will be attempting something very challenging and will need the best advice and execution possible. “I would very much recommend having the kind


2 0 WINT E R 2 0 24 ■ IR UPDAT E


of partner that knows how to execute against these kinds of challenges, is excellent at giving advice to senior management and finds creative solutions to unique challenges your company faces,” he says.


Impact Intelligence and AI Te value of research prior to the event is that the findings can underpin your story, says Eli Marcus, Vice President, Strategy at Te Buddy Group. “Conduct an investor study beforehand to un- derstand your audiences, what they are expecting and to help shape the story,” Marcus says. “To shape your own corporate story, go out and take the pulse and conduct a perception study.” Nordwall suggests thinking of intelligence as


identifying and addressing: • Key investor concerns and investment thesis • Share register composition and ownership potential


• Fund flows and fund manager investment styles


• Macrotrends • Industry and market trends • Peer performance and results • Investor priorities and issues


Fine adds that a perception study with investors


up front provides a baseline. “I talk to analysts and the buy side to see what they want covered and this street check provides both qualitative and quantita- tive information,” he says. “It’s like a GPS guiding the right messaging and content development.” Nordwall points out it is also common for clients to conduct a post-Investor Day perception study. “Te findings from this are a key barometer to gauge the impact and success of the Investor Day. Did the investors hear and understand the strategy?” she says. “Insights from the perception study will help to further craft your communications strategy going forward.” Nordwall adds, “Intelligence surrounding the Inves-


tor Day itself is critically important as well, especially post-pandemic, as we have seen expectations, norms and content shift compared to those hosted previously,”. Hayes says public companies need a new and


transformational approach to understand investor sentiment and develop their Investor Day positioning,


niri.org/ irupdate


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