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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!