The report shows how difficult it is to keep customer details up to date. It says that every minute, a company name change occurs, a chief executive is replaced or a business closes. Every four minutes a business will fail while every six minutes a firm will move offices as 5.7m business details change a year.
Now the postal giant is calling on car companies, dealers and manufacturers to ensure their customer records are correct and up-to date. It is launching a new database product aimed at the motor industry that tracks, monitors and updates changes to business every month.
The Royal Mail Business Changes File enables businesses to keep track of present customers, but also identify new leads of businesses that have just started or have just moved. This is a key time when they are most likely to buy new products and services, says the firm.
Richard Roche, head of business development at Royal Mail, says: “Royal Mail is in a unique position to help the UK's motor industry to achieve more from their post. It seems incredible that so many fail to accurately target customer addresses.”