Do you remember when you were 12 years old and the weekend promised a trip to Blockbusters to take out a couple of movies? I remember that the video shop we went to even sold microwave popcorn to go with the movies - perfect.

Sometimes, if a movie was super popular, someone would've beaten you to it and you'd have to wait until next week to watch that movie - if they returned it on time! Imagine how you'd respond today if Netflix told you that you couldn't watch The Witcher because someone else was watching it! Or better yet, imagine that you had to sit through adverts in the middle of The Witcher and then that you had to wait a whole week between episodes instead of binging it over a weekend... I can't believe I ever used to be so patient or accepting. But, as the technology has changed, so too have my demands and expectations.

Clients expect the latest technology, the least time, and as little inconvenience as possible.

Technology has progressed swiftly and we've all become accustomed to on-demand services, next day - or even same day - delivery, and instant gratification. Our attention spans are shorter, our sense of entitlement higher, and we expect great service that centers us and caters to our desire for convenience, ease, and basically not having to leave the house very much. And then, of course, COVID came along and encouraged us further in our couch-potato ways.

Accountants and bookkeepers can't remain impervious to this change in behavior and expectation. Even for services as decidedly different from on-demand television as you can get, clients expect the latest technology, the least time, and as little inconvenience as possible.

How do you attract prospects or retain clients who have such high demands and short attention spans? In this article, I'll break down this new kind of client - the one living in the convenience economy - and how you can tailor your offering to appeal to them. I'll also take a look at the potential of data analytics and other new technologies to help offer additional value in your practice.

As one Forbes article puts it, "True convenience, in a digital landscape, means the products and services [are] available to come to you." Back in the day, convenience used to mean that you could pick up Chinese takeaways on the way home from work or that your favorite cafe was just a short walk away from your house. But now, that definition has changed. It's no longer considered convenient for you to pop to the 7-Eleven down the road; it's convenient for someone else to drive to your doorstep to deliver the groceries right into your hands. Some are calling this the Amazon Effect as Amazon was one of the first e-commerce sites to offer quick, seamless door-to-door delivery.

An increasing number of shoppers are heading for their screens instead of for stores.

In an article on the Amazon Effect, written for Investopedia, Cory Mitchell notes:

"As online shopping increases, the gains for e-commerce businesses are coming at the expense of brick-and-mortar retail stores. An increasing number of shoppers are heading for their screens instead of for stores; online sales accounted for 13.6% of retail sales in the U.S. in 2020, compared to 10.7% the previous year, according to the US Census Bureau.1."

Interestingly, online shopping has not only changed consumers' expectations when it comes to retail but when it comes to services as well. Consumers are less inclined to be patient waiting in queues and expect to be served immediately at salons, restaurants, and so on, all thanks to the seamless experience of online shopping.

With this desire for convenience and immediacy, people frequently draw conclusions based upon perceptions rather than hard facts. And if clients or prospects perceive you to be stuck in the past with your offering, they may question whether your firm can properly serve them. As one article by CPA Practice Advisor puts it:

"The new consumer wants more than just after-the-fact reporting and compliance work. They want advice and assistance in driving their businesses and financial results. They also want convenience, simplicity and great design."

So, how do you meet these demands? One way is by getting totally on board with technology and using it not just to make you more efficient but also to help you offer better services.

The new consumer wants more than just after-the-fact reporting and compliance work.

In terms of simplicity and great design, it can be helpful to find technology that offers both utility and something more aesthetically pleasing, such as a report that's quick to create, easy to understand, and visually appealing. The manner in which you deliver your services is key to growing your practice.

Here are five tips to meet the demands of the children of the Amazon Effect.

Ernst & Young polled 1,650 tax and finance leaders in over 40 countries, and found that 95% of respondents highlighted the need for their colleagues and employees to improve their data and technological skills.

By improving your data and technological skills, you have the chance to offer more services, especially value-add services, to your clients in a more efficient way.

With cloud accounting software, you can empower your clients to view and update their own data at any time. You can also use technology to exchange documents and convey information to clients securely.

Clients are already used to this from banking apps and online shopping, so acclimating to one more software solution shouldn't be difficult.

You can also add your clients as users on Syft and give them access to certain reports so that they can read through them before your meetings, or you can send them a preview link. In this way, they have quick and easy access to the information and will be better prepared for their meetings with you.

You can use technology to exchange documents and convey information to clients securely.

The option of a virtual meeting became a no-brainer during lockdowns, but even when lockdowns ease, many clients may prefer to stay home and meet with you from the comfort of their couch. It may be worthwhile to keep your video conference apps in place - or find better ones.

Integrating meeting apps with calendars and email notifications also makes it easier for clients to remember when their meetings are.

More and more accountants and bookkeepers are beginning to get involved in podcasts and webinars, sharing their knowledge and experience with a wider audience. This boosts your reputation as a thought leader and serves as a great source of marketing to new prospects.

In the same vein, by creating a blog where you post helpful articles about frequently asked questions, you can show how invested you are in your clients problems and day-to-day operations. When creating content, it's good to remember the following:

In this way, you can build a reputation for both expertise and trustworthiness.

You can show how invested you are in your clients problems and day-to-day operations.

You know how Amazon will prompt you to buy wine glasses and a decanter to go with that bottle of Merlot you ordered because other, similar buyers bought these products together? Well, why not take a leaf out of Amazon's book? If clients of today are accustomed to quick delivery and tailored suggestions from online stores, why not offer them additional services that you think would benefit them and that other, similar clients have benefited from?

Clients of today expect you to offer them more than what they came for - proactive forecasts rather than retrospective reports and sound business advice and insights. Accounting Today notes that, in the future, firms will move:

While compliance will remain an important part of what many firms do, the advisory space is growing, processes are changing, and the world of data analytics is becoming more appealing to accountants and their clients. Meeting the demand for services like Amazon isn't just about speed or convenience; it's about added value too.

So, when your client contact you about their usual meeting, why not offer them something new to go with it, like say:

You could also turn one of your most popular services into a product by giving it a catchy name, specifying a clear outcome, and charging a fixed fee for it. After all, products are easier to sell than services.

As the landscape in which we find ourselves becomes increasingly digitalized, it's important that we don't get left behind. The way we live our lives has changed drastically from the time of renting VHS tapes or DVDs to the era of Netflix and Amazon Prime. And the same can be said of accounting and bookkeeping services. As clients begin to expect more services and greater convenience, we can't keep doing what we've always done. The future is digital, efficient, cloud-based, and client-centric. And the future is here. It's up to accountants and bookkeepers to hop on the digital train - or be left at the station.