Zillow Group leveraged Slido to actively engage a wider audience for its earnings calls, making it easier for anyone to submit a question. The company received thoughtful questions from the investment community, which enhanced the discussion overall.
As a result, Zillow was able to reduce the number of follow-up calls from investors since more questions were addressed in a public forum, in compliance with Regulation Fair Disclosure (Reg FD).
Zillow Group is a leading US-based company that houses a portfolio of the most vibrant real estate brands on mobile and the web. Its mission is to empower consumers with data and knowledge about homes and connect them with the right local professionals.
As a publicly traded company, Zillow Group must comply with Reg FD, which requires all material information to be disclosed to everyone at the same time through an approved channel and in a public forum.
The company hosts a quarterly earnings call – where management provides an update on the company’s performance and answers questions from investors.
On most public companies’ earnings calls, the Q&A portion primarily consists of sell-side analysts asking questions. Buy-side analysts are known to prefer not to ask questions in a public forum.
Zillow Group wanted to create an opportunity for analysts to anonymously submit questions, which the company believed would benefit all audiences.
“Using Slido during our earnings calls provided access to a wider audience and increased transparency while complying with Regulation Fair Disclosure.”
RJ Jones, Vice President – Investor Relations, Zillow Group
Zillow Group aims to drive innovation in every aspect of the business. In 2012, Zillow Group was the first company to answer a question from an analyst submitted via Twitter during its live earnings call.
There were some hurdles related to Twitter that limited the number of questions the company would receive (i.e. company firewalls, individuals have to set up an account, etc.). As the years went on, the questions were fewer and less strategic.
Since Zillow Group already used Slido for internal company meetings, the Investor Relations team decided to experiment with using Slido during its earnings calls.
In order to promote awareness of its use of Slido, Zillow Group’s IR team alerted its audience that it would be using Slido and provided instructions on how to submit questions during the call.
Zillow Group mentioned Slido in their press releases, emails to investors, IR blog and on social media.
Slido does not require participants to register in order to submit or vote on questions. It’s easy to use, especially for people using a desktop – as most investors are when listening to an earnings call. It also is not likely to be blocked by company firewalls, like many other social media platforms.
“We had great feedback after using Slido. We would definitely recommend it to other companies looking to enhance the Q&A portion of their earnings call.”
Dennis Walsh, Director – Investor Relations, Zillow Group
Trying new things often comes with a pinch of anxiety, but the results proved to be worth the efforts.
The option to submit questions anonymously enabled anyone from the investment community to submit thoughtful questions without having to identify themselves. In addition, Slido allows participants to vote which questions they want answered.
As a result, the company was able to address the questions that the audience cared about most.
Zillow Group achieved strong engagement during the first call in which they used Slido. There were 73 active users with 35 submitted questions and 56 votes on the questions.