Have You Seen the Price of a Stamp Lately!
At the beginning of May, the price of a first class stamp went up from 46p to 60p, with a second-class stamp increasing from 36p to 50p, although we should think ourselves lucky!
Why you might ask? Well, even with these price increases, which do seem steep, we still pay a lot less than our European neighbours when it comes to the cost of buying stamps. In Germany and France you will pay double the price of a UK first class stamp.
Although this does not mean we suffer when it comes to the service we receive in the UK, with Royal Mail maintaining standards which are “appreciably higher” than other EU countries. We receive deliveries over six days against a EU minimum obligation of five days, and a next-day target of 93% - that’s the highest for any major European country.
If you are a company looking to save on postal costs then a closer inspection of the data you use could result in a more profitable bottom line. Undelivered mail due to address errors costs around £146 million every year, with customer data degrading at the massive rate of 13% and business data by 37% on average every year, simply because people move house, change their names, and even pass away, it’s vital to avoid the cost of invalid addresses.
If your business has data, which is out of date, this could mean a failed or misplaced delivery, a missed opportunity or a lost sale, not to mention the potential brand damage. One way to avoid this is to use Royal Mail’s Postcode Address File (PAF, which is an extremely accurate postcode address database for the UK. Updated daily and with improvements made on a regular basis such the new British Forces postcode data, the PAF is an invaluable business tool.