The power of the quick fix

People know what they want, and they want it now. The quick-fix economy is on the rise. Brands are vulnerable, but not helpless.

The internet has given us both a plethora of options and access to products and services that we never had before. It has also given us the power of the crowd – one of its early promises. Today, people are increasingly using the latter to bypass and shortcut the former. Instead of treading the traditional path, they are turning to influencers and other means of gleaning the wisdom of the crowd to find a quick fix that satisfies their impatience.

For consumers, this is the antidote to strategic thinking. When the long-term perspective looks bleak, they invest their time and money in short-term solutions, without detours. For brands, this should clearly indicate that there are unmet needs. Trust in organisations is dwindling (that’s another trend), leading people to look elsewhere. They turn to the internet for a quick fix. In the words of Accenture’s Life Trends 2025 report:

The power of the crowd is almost like a riptide. Someone finds a new solution to a problem, tests it, and if they find success, they share it and take others along with them on a new route to a desired result.

Influencers are playing a big role here. They have moved beyond product recommendations, offering alternatives and tips for people to solve their life problems – often with a quick fix, or smartcut, as the report calls it. Again, this shows that brands leave something to be desired. They aren’t relatable in the same way as influencers.

Media aren’t going away

This, by the way, illustrates why the media aren’t going away anytime soon. Yes, the internet has given us plenty of opportunities for direct communication, not least between people and organisations. Still, we need the middleman, and woman, to translate between different groups and bring the message to diverse audiences. Influencers are a new kind of media personality, but the basic media mechanisms remain the same, despite the change of technology and the fragmentation of channels.

Trusted institutions have the right message but not the right medium. Social platforms have the right medium but not always the right messages. There is an opportunity here to serve an unmet need by delivering trusted information via the right channel, with a relatable, person-to-person quality.

Life hacks per se aren’t new and have been around forever. However, for a trend report, what makes them relevant is that they are going mainstream. According to an Accenture survey, people are even willing to explore riskier routes to achieve their health and financial goals. When the traditional way doesn’t cut it, people look for quick fixes and smartcuts.

Part of the reason is that the customer experience has dried up recently (one of last year’s trends). This has made brands vulnerable, especially in areas where influencers offer compelling, entertaining content on the same subjects, but pointing in different directions. These areas now extend beyond products into financials, health, and education. In a way, it’s the old, anti-establishment movement of the internet reborn.

Time to reduce complexity

Brands aren’t helpless. First, they can think about offering a quick fix themselves to the people who want one. Then, they can invest in their relatability, becoming more accessible:

In each industry, businesses will need to evaluate the motivations behind the new solutions people have found. In some cases, it could be down to customers’ impatience, in which case companies will need to manage their expectations and make the experience simple and accessible through every touchpoint. Other times, it will be a symptom of a gap or disruption in the business model. In these situations, a quick and coherent fix will be essential to minimizing the impact.

It’s time to reduce complexity. The internet has done its fair share of reducing the complexity of daily life, but has also added new layers of complexity. This has paved the way for hacks. Wherever the customer needs and goals are deprioritised, brands get weakened. It’s the old tune of the digital revolution, reloaded. The power balance has shifted towards the consumers. They employ the internet to get what they want quickly fixed.

The quick-fix economy

Impatience is an attitude that the internet has taught us. The experience of having everything at our disposal, or promptly delivered to our doorsteps, can be addictive. Why shouldn’t we extend this behaviour to all parts of our lives? Well, there is research on the economics of impatience dating back to 2002, indicating that the focus on immediate rewards often leads to the loss of larger, deferred rewards:

When planning for the long term, most people in developed countries intend to save enough for their retirement, eat healthy foods, exercise regularly, watch less television and quit smoking. But such plans require gratification to be delayed, and most of the time most people put off doing anything about their long-term aims even when they know they should act on them.

One of the conclusions was that people use different and inconsistent discount rates for short-term events than for long-term outcomes:

For events that are far enough in the future, people are prepared to be patient, and so behave inconsistently depending on the time frame.

This may explain why savings plans based on exchange-traded funds (ETFs) have gained popularity over recent years. People have realised these are simple, cheap, and flexible financial solutions for their long-term needs. The rewards are far in the future, requiring patience. But when ends don’t meet, they can adjust or cancel their monthly savings at short notice. This balances long-term and short-term needs.

It’s also a model for products and services that are competitive in a world of impatience, instant gratification and the quest for a quick fix – without sacrificing the future.