selling the value of fraternity/sorority housing: why the experience matters
TRANSCRIPT
Selling the Value
of Fraternity & Sorority HousingWhy the experience matters?Presented by:
ABOUT US
Who We Are/Why We’re Qualified
Sam OlsonClient Relations Leader
BillhighwayDues and payment technology provider for fraternal and other chapter-based
organizations.
Scott FussellDirector of Marketing & Education
CSL ManagementWe focus on chapter facilities, so
volunteers and staff can focus on the student experience.
AGENDA
Why Are We Here?
Rising student and parent expectations, declining number of
volunteers
Looking to provide an improved, competitive
facility to members
Prioritizing the alignment of your facility, culture &
member experience
78% 78% of Millennials would choose to spend money on a desirable experience or event over buying something desirable.*
*Source: 2015 Billhighway Millennial Benchmarking Study.
Why Does the Experience Matter?
70% Students spend upwards of 70% of their time in their living environments.*
*Source: Pennington and Associates
Why Does the Experience Matter?
79% Percentage of chapter houses built before 1974.*
*Source: MJ Insurance and Holmes Murphy
Why Does the Experience Matter?
“There’s Something Different About That Place” -TriDelta @ Florida
Creating spaces large enough for entire
chapter, not just live-in members.
Utilize social & academic areas for multi
purpose spaces
“Living here makes it easy to quickly get to classes and meetings
on campus. It’s nice to be within walking distance of so many
different places and activities.”
LOCATIONFAMILY STYLE MULTI PURPOSE
Competitive Factors Competition is tough, IF we let it be
01
02
03
Location, location, location
Culture is King
Competition is toughWe’ll never compete with the rooftop pool…
AmenitiesPools, views, fitness centers, hardwood floors, granite countertops
Experience = InvestmentHow is your House Corp reinvesting in experience? If you’re not, how do you start or get the funds to kick it off.
The experience is your differentiatorWe may not be able to offer the rooftop pool, but no one else can offer the community and connection.
Sell the right thing.
Competition is toughWe’ll never compete with the rooftop pool…
What do you want the experience to be? Ask your members, volunteers, and even University officials for
their vision of the living experience.
Take a look at what university housing and local apartment complexes are investing in.
Identify all the ways other experiences differ from what’s happening inside the walls of your facility, the marketing your strengths
What can you do?
Location, location, location…Location is usually an advantage, use it!
Close to campusShorter walks to class are convenient, safer and a benefit to in-house living. No scooters or cars necessary.
Social advantageBeing close to other Greek organizations makes it easier to build strong relationships and networks.
Evaluate your locale, customize your messageAre you close to other desirable areas? Shopping? Grocery? Library? Entertainment? Leverage your locale to promote in-house living.
What can you do?
Put your money where your mouth isIf academics are a priority and a focus of your organization, set students up for success with functional and educational spaces.
Culture is KingWhat are the values and priorities of the chapter? Identify each chapter’s culture, or desired culture, and plan towards that identity.
Finding the right blend of social life and academics can drive a successful in-house living experience.
Development + Academics = Success
PYMWYMIBeta Theta Pi @ Oklahoma University
Lecture HallNot every House Corporation has the financial means to implement a lecture/study hall. However, every chapter can find ways to set students up for academic success.
Observe Are members leaving the house to go to the library to study?
Do members study effectively, productively in-house?
Do a majority of students study in their room rather than in common areas?
What can you do?
Multi-purpose spacesTriDelta @ University of Florida
Leverage large spaces such as dining halls and ensure they are set up properly so members can also study there or hold a chapter meeting.
Small spaces that don’t have great functional purpose can be converted into great study nooks.
Consider lighting and atmosphere when creating spaces.
Multi-purpose spacesGet creative – not everyone can put a lecture hall in their chapter house. How else can you create multi-purposes spaces to encourage relationship building and academics?
“I appreciate the number of study spaces we have available to us. There’s never a challenge finding a place to study in private, or with others if you’re working on a
project or in a study group.”
“Having so many places that are quiet makes it super convenient. It’s nice to have that in your home rather than
having to go back to campus.”
Culture is King
Chapter IdentityIf a chapter’s identity is largely focused on academics, ritual, athletics, etc, help reinforce that culture by creating a physical environment that is in alignment.
Identify each chapter’s culture, specifically their desired culture, and plan towards that identity.
Identify the Identity What does the chapter invest in emotionally? What do they
get excited about collectively?
What do they spend much of their time doing? ID those activities, invest in them, build around them.
Support the culture and the culture will support the facility.
What can you do?
Culture/Emotion
What feelings are you trying to create within
your chapter house? Are you creating opportunities
for connectivity with intentionality?
Experience = Revenue
Great experiences mean hitting capacity, which means more revenue,
which provides the ability to reinvest in the home.
Keep In Mind…
Differentiate
Continue to explore and understand what
differentiates your home from other
living options.
ExerciseIdentify 5-10 characteristics or features that differentiate your chapter house from other student living options.
Time: On-Demand
Speaker: Scott Fussell, CSL Management & Sam Olson, Billhighway
Capacity and Its Impact on Financial Planning for your Chapter House
What’s Up Next?Tracking HCB Revenue and Reinvestment Considerations to Optimize Member In-House Experience
Time: On-Demand
Speaker: Scott Fussell, CSL Management & Sam Olson, Billhighway