Roadshows for Small-Caps: Efficient, Focused, and Hybrid

Small-cap companies face unique challenges when organizing roadshows. Unlike mega-caps, which travel globally almost year-round, smaller companies must achieve maximum impact with limited budgets and resources. The Global Roadshow Report 2025 by IR Impact reveals that small-caps are increasingly optimizing their roadshows and hereby relying more on hybrid models.

But how exactly do small-caps plan their roadshows? And what can IR teams learn from the strategies of larger companies?

Roadshows? Yes! But Efficient Please

Even though small-caps have fewer resources than large corporations, roadshows remain a key part of their investor relations strategy. 82% of small-caps conducted a roadshow in 2024, a figure that has remained stable compared to the previous year. However, there are significant differences in the number of roadshows conducted:

  • Small-caps organized an average of 5.2 roadshows per year.
  • Mega-caps, on the other hand, held nearly 10 roadshows.

The global average was 5.8 roadshows per year. This indicates that while larger companies are almost constantly engaging with investors, small-caps must plan strategically and focus on the most important markets.

Roadshows for Small-Caps: Efficient, Focused, and Hybrid

Data: IR Impact – Graphic: Dr Reuter Investor Relations

Less Travel, More Impact

While mega-caps often spend more than three weeks per year on roadshows, smaller companies simply cannot afford that. Small-caps spend an average of 7.4 days per year on roadshows, whereas mega-caps travel 19.6 days per year—almost three times as long.

This difference highlights the need for small-caps to adopt compact and well-structured roadshows. This means:

  • More meetings in less time
  • A targeted selection of cities and investors
  • Thorough preparation to maximize every meeting

The trend is clear: small-caps are moving toward tight, well-organized schedules with multiple meetings per day.

Average days on the road:

Roadshows for Small-Caps: Efficient, Focused, and Hybrid

Data: IR Impact – Graphic: Dr Reuter Investor Relations

Hybrid Meetings as a Key Strategy

Small-caps rely on virtual meetings far more than larger companies. 52% of small-caps use hybrid roadshows, compared to just 45% of mega-caps. The reasons are obvious:

  • Hybrid meetings save time and travel costs
  • They allow companies to reach investors worldwide without being physically present
  • Digital formats are especially ideal for initial contact with new investors

However, an interesting trend is emerging: Only 9% of small-caps rely exclusively on virtual roadshows, compared to a global average of 4%. This indicates that in-person meetings are making a comeback—a trend seen even more strongly among mega-caps.

Roadshows for Small-Caps: Efficient, Focused, and Hybrid

Data: IR Impact – Graphic: Dr Reuter Investor Relations

In-Person Meetings Remain Essential

Although digital formats are cost-effective, face-to-face interaction remains a crucial success factor for small-caps. 66% of small-caps rate physical roadshows between 8 and 10 points (on a scale of 10), indicating a high level of satisfaction with in-person meetings.

Virtual meetings score slightly lower: 44% of small-caps rate them between 8 and 10 points, showing that while digital formats are necessary, they are not always ideal.

A comparison with mega-caps reveals an even stronger preference for physical meetings: 79% of large companies express high satisfaction with in-person roadshows, as they have larger budgets and meet investors globally.

Roadshows for Small-Caps: Efficient, Focused, and Hybrid

Data: IR Impact – Graphic: Dr Reuter Investor Relations

Conclusion: The Right Mix Matters

For small-caps, strategic planning is key to maximizing the impact of roadshows while working within limited resources. The success formula includes:

  • A targeted selection of investors and markets
  • More meetings in less time
  • A smart combination of physical and virtual meetings

While large companies continue to rely on traditional roadshows, small-caps benefit the most from hybrid models, which provide flexibility, efficiency, and cost savings.

For IR teams, this means: With smart planning, it is possible to build strong investor relationships in spite of a limited budget.

Source: IR Impact

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SmallCap Investor Relations

Small & micro caps struggle with low visibility on the capital market. IROs have to make considerable efforts to get noticed by investors, financial press and analysts.

Our award-winning IR program provides support through targeted targeting of institutional and retail investors, virtual meetings, editorial articles, webinars and video interviews. It also includes journalist targeting, placement of articles in financial media and strategic IR consulting including perception studies.