vincent wilson - deakin residential services - the student experience and financial outcomes:...

STUDENT EXPERIENCE & FINANCIAL OUTCOMES:

TOGETHER AT LAST!

Vincent Wilson MAICD

CEO, Deakin Residential Services

Vice President, AACUHO

WHO ARE YOU?

Vincent Wilson MAICD

Chief Executive Officer, Deakin Residential Services

Vice President, AACUHO

Over 10 years experience in accommodation management

Management of hotels, resorts, and now student accommodation

Former board member of Hotels, Motels & Accommodation Association (Vic) and Vice President of Tourism Greater Shepparton

THE SIDES

THE MYTH

“The ever stronger push towards enhanced financial outcomes means a diminished student experience…”

or

“To focus highly on student programs and support means that money is being wasted on intangible ‘feel good’ results…”

THE BATTLE

SO WHAT’S THE PROBLEM?

“We’re trying to find a balance…”

but

“We should be seeking to INTEGRATE”

CAN’T WE ALL JUST GET ALONG? Communication Issues

Lack of Understanding

Not seeing Value

OF COURSE WE CAN!

Explain WHY

Appeal to Self Interest

Make Connections

HOW DO WE PROVE IT?

“An outstanding student experience leads to not only repeat business, but also the cheapest marketing you will ever get!”

and

“Strong, sustainable financial outcomes are the only way universities can continue to afford running quality, affordable student housing and great experience for residents…”

HOW DO I KNOW THIS?

We’ve done it!

Since 2013, Deakin Residential Services has:

Reduced costs

Increased revenue

Improved residential culture

Increased demand

Enhanced the student experience!

MORE TIPS & TRICKS

Use data to convince financial minds

Explain non-financial benefits of focussing on finances

Financial and reputational risks of not getting it right

Focus on the soft stuff… and the hard targets

Communicate and convince your team and colleagues

Speak each other’s language!

HAPPY RESIDENTS = HAPPY FINANCES!