and consistently referring to core messaging and positioning on subsequent earnings calls to reinforce the narrative that was established,” To recommends.


The Day After “A good Investor Day means a good strategic plan, knowing how the street sees you and having good content that transforms perceptions,” Fine observes. “We know we have done our job when we see


research notes with headlines associated with a greater understanding of the strategy, drivers and tailwinds,” Nordwall says. “Tese types of headlines are a strong indicator that the investment community is focused on the long term and not on shorter-term catalysts to the share price.” Nordwall adds, “Improving a valuation is a marathon


not a sprint. We aim to set up our clients for the long term and create a clear path to drive long-term valuation.” “A meaningful added value for the IR team and the company is the ability to create the linkage between post-investor day enterprise business and investor relations, so you are linking outcomes from inves- tor day to the next-generation IR plan,” Hayes says. Create the content that moves beyond Investor


Day and is reusable, Marcus explains. “We interviewed the head of semiconductors and the head of media engineering for an Investor Day – afterwards, the company had an HR recruitment video.” Hayes says it is his core belief to help elevate the


IRO to perform at the high end of their profession. “Te IRO providing the c-suite with impact intelligence to plan and strategize makes an enormous impact on value” Hayes says. “It’s less IR as a function and more IR in the c-suite.” Ditmire confirms that educational value. “As a


bonus, I learned things, as did my team, that helped us advance our messaging effectiveness in other presentations and communications, in fact it was some of the most important and useful learning of my IR career.” “What I have found is that an engaged team that


has expertise in strategic communications, business strategy, public policy or topical areas like AI – and that can shape critical themes for the Investor Day and provide incremental value – really makes an im- portant difference in elevating value,” Hayes suggests.


niri.org/ irupdate


What’s Next? As for what’s next, To believes more consistent frequency in hosting Investor Days will continue. “According to our research, the buy side prefers Investor Days every two years regardless of market-cap size as well as more experience-based events where companies can ‘show and tell’ to bring to life their investment thesis,” he says. “Te future is an integrated communication strat-


egy at the enterprise level, which includes the chief CO, CMO and IRO, where the Investor Day is a key tactic within that broader strategy but interacts with broader marketing and communications outputs, digital and social strategy – what we call the ‘Con- stant Conversation,’” Hayes says. “Tat is when you have all the company’s assets working together in a way that not only elevates value for institutional and retail investors but also for other key stakeholders.” “I would love to see a redefining of the hybrid


Investor Day – today a hybrid Investor Day means a live event before an audience, while doing simulcast to the web,” Marcus says. “Tere is an opportunity to put more effort into the stagecraft and production value so that the event is great for both audiences and the content has the quality to make it easily reusable.” Nordwall believes Investor Days are essential


and will remain a key arsenal in a company’s ex- ternal investor outreach program. “To supplement this larger full-scale program, we believe the next big thing will be smaller bite-size investor events to maintain the ongoing touch points with investors,” Nordwall suggests. “Tese smaller events allow for a more intimate audience where more time can be given to deeper dives and the Q&A in particular.” “Ultimately, no one knows the audience like the


IRO, and you can’t articulate information that clicks with the audience unless you know them very well,” Ditmire concludes. “Investor Day is hard, intensive work but if you push through, and execute thought- fully, yours can be amongst the Investor Days that make a difference and change how people think about your company.” IR


Alexandra Walsh is Senior Publishing Consultant for Association Vision, the company that produces IR Update for NIRI; awalsh@ associationvision.com.


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