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Investor meetings are a crucial part of the communications strategy for every ASX-listed company, whether it is to update existing investors on your corporate progress, meet new investors that you can potentially add to your register or a deal roadshow for a capital raise.
Getting your message across successfully in these meetings is vital. So, before you create your target list, brush off that investor deck and hit the road, read the first part of our series on key tips to help you achieve cut through with investors from our Managing Director, Jane Lowe.
1. Preparation is key
What you present and how you present will differ depending on your audience. For instance, an analyst will likely have a much deeper understanding of sector issues than a generalist investor. Before you go on the road, consider who your audience is. Are you presenting to a number of different types of investors? Do some require more complex information than others? If so, you will potentially need more than one presentation deck. If not, consider whether you move complex materials to the back of your deck as an appendix, which can be referred to if required. This applies to both deal and non-deal roadshows.
2. Know your audience
Before you walk into any presentation, learn as much about your audience as possible. What kind of investor are you meeting: a sector specialist? A hedge fund? A long-only fund? A structured finance provider? A group of retail investors? I could list many additional examples.
How you present on each occasion should really depend upon the interest of the group you’re meeting with. For instance, a long-only fund would have a much longer-term view of the world than a hedge fund, so you would want to talk about a three-to five-year picture around your company. The hedge fund and most generalist investors will be looking for much nearer-term catalysts, so a focus on upcoming news flow and short-term value inflection points is needed.
Our suggestion is that you, or your IR team should do desktop due diligence at the very minimum before you attend presentations, so you understand the behaviour of each investor you meet and any prior investing history. With this knowledge, you can prepare your approach for the meeting accordingly. Similarly, if people around you have experience meeting or working with that investor, seek any intelligence that might help you with your discussion.
3. Know your stuff
You’ve created your presentation deck, you’ve got your briefing notes together, now prepare for the meetings. Do a dry run with a colleague, or in front of the mirror. Consider the few key points you plan to say on each slide. Create a list of questions and answers that you know you’ve been fielding elsewhere or expect will come as a result of your presentation.
Practice how you would respond so you don’t feel caught on the spot.
Know your company, movements in your sector, statistics around the competitive landscape and what the market for your product or service offering may be. If you don’t know the answer to a question, be honest and then follow up after.
So, there’s the first part of Jane’s tips for successful investor meetings. We look forward to sharing the second, and final part of the series later this week.