By the time your next marketing campaign goes live, it may already be outdated. New trends and tactics are emerging so quickly, it’s difficult to keep track of what’s in now, much less predict what will be next.
One thing that’s not likely to change anytime soon, however, is the importance of integrating data into every aspect of your marketing strategy. For Rent the Runway founders Jennifer Hyman and Jennifer Fleiss, using data elevated their online designer dress rental business to a new level.
The two women struggled to engage Millennials, their target audience, in their early years. They realized that to fix engagement, they needed to focus their efforts on data science, pricing models and their mobile platform. Their approach has certainly paid off—the company now ships more than 90,000 items a day to 5 million members.