Rent the Runway CEO on Why Relationships Trump Data

Rent The Runway

By: Graham Winfrey.  Source: Inc.

Even in today's digital world, no amount of data can take the place of trust built through personal relationships. Rent the Runway's Jennifer Hyman explains.

When it comes to building a brand, Jennifer Hyman, founder of designer dress rental site Rent the Runway, puts more trust in relationships than almost anything else.

While data and analytics are crucial tools for things like gathering business intelligence, growing a company still depends heavily on in-person interactions, even in today’s digital world, according to Hyman.

“It’s important to remember that despite how high-tech the world has become, that people tend to work for people they’re inspired by, who can create a culture that appeals to them,” she said at a recent roundtable hosted by Inc. “Most business is still done via relationships and via social connections, and those happen in person,” she said.

Citing the example of how she partnered with nearly 300 designers, Hyman reiterated the importance of building trust through social interactions.

“Every single one has been about lunches, dinners, drinks, and relationships, and nothing related to something technical,” she said. “There is no data that I was able to give them beforehand to say, ‘I’m not going to ruin your company.’ They had to trust me.”

To hear more from the conversation, watch the video HERE

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