Very Interest-ing: Wachovia Markets Promo Around Tour Event

By Jon Show, Staff Writer, SportsBusiness Journal

Wachovia is launching a national consumer promotion tied to the winner’s score of its PGA Tour event in Charlotte, which the Tour believes is the first time a title sponsor has made such an effort. For a three-month period starting in June, customers with a Way2Save savings account will get an interest rate equal to the under par score of the winner. For example, if the winning score is -10, all savings account holders will receive a 10% interest rate for three months, as opposed to the normal 5% rate. The five winners of the tournament have finished between 10 and 13 under par. “We are engaging people around the tournament in a traditional and non-traditional way so now everyone can benefit,” said Wachovia Senior VP and Dir of Sponsorships & Alliances Dan Fleishman. The promotion is called “Save Like A Champion” and was unveiled Monday via a full-page ad in USA Today. TV spots touting the promo will start on Golf Channel and CBS the week of the tournament, which runs May 1-4. Network and cable ad buys will be made during sports, entertainment, comedy, music and culture programming. Print ads will run in Golf Digest, Golf World and SI Golf Plus. There also is online and POS components. Ads are not expected to feature the winning player because the use of a golfer’s likeness after a tournament ends must be negotiated, and Wachovia’s sports marketing strategy does not include player signings.