The Strategic Mailing Partnership (SMP), the industry body that represents the print and mail industries, has welcomed the upcoming launch of the new Government Sector Economy Incentive from Royal Mail, due to launch on 2 January 2024.
The new Economy Incentive will allow customers in the Government sector to make savings on their mail needs.
Customers that use the Royal Mail Testing and Innovation Incentive (TIS) will qualify for 5 per cent in postage credits when using the Economy product for the first time, or when using Economy for new uses of mail.
This means that customers will save approximately 15 per cent* on Business Mail and 16 per cent* on Advertising mail compared to the Standard mail tariff.
The Economy Incentive caters to customers with non-urgent mail needs, offering flexible delivery, to ensure greater savings. From large-scale to small-scale mailings, the incentive adapts to differing business needs, providing versatility.
The use of Mailmark technology has allowed Royal Mail to make the pricing more affordable and cost-effective, offering a delivery window of between one and four working days after handover to Royal Mail.
Businesses are also able to trial the cost-effectiveness and efficiency of the Economy Incentive, using the Test and Innovation Incentive, which supports businesses in testing new mailing applications as well as changes to existing mail campaigns.
Lucy Swanston, chair of the SMP, said: “The new incentive will be hugely beneficial to SMP members and the print and mail industry working with the government sector, enabling them to offer a service to their customers with more versatility and innovation, alongside great savings.
“At the SMP, we hope that the launch of this incentive will help businesses to become more cost-effective in their mailing strategies, helping them to make the case for mail with their own customers and clients. This will also support the wider print and mail industries in creating a more economically sustainable future.”
To qualify for the incentive, mailings must include a minimum of 4,000 Business Mail or Advertising Mail Economy mail items and a maximum of 500,000 items over the incentive period. The last posting date is 31 May 2024 and customers must submit their applications for this incentive by 17 May 2024.
More detail on the updated TIS incentive terms and conditions, postage credit rates and a useful sales presenter can be found on the Advertising Mail TIS and Business Mail TIS pages of the Royal Mail Wholesale website. The SMP aims to raise standards in the mailing industry and promote better mail for all. To find out more about the SMP, please visit: www.thestrategicmailingpartnership.co.uk