Sweet 16: Kim's Winning Score A Windfall For Wachovia Customers

By Jon Show, Staff Writer, SportsBusiness Journal

Wachovia's Way2Save Customers Score With Kim's 16-Under Performance At Tournament

First-time PGA Tour winner Anthony Kim broke the 72-hole scoring record at the Wachovia Championship this past weekend by finishing 16-under par, meaning customers who sign up for Wachovia's Way2Save savings program will receive 16% interest during a three-month period starting in June. The program was announced late last month and is believed to be the first time a PGA Tour event has tied its final score to a consumer promotion. Under Way2Save, which launched in January, Wachovia customers allow the transfer of $1 per check card purchase from their checking account to a savings account that normally draws 5% interest. Wachovia Senior VP and Dir of Sponsorships & Alliances Dan Fleishman declined to say whether the bank secured any insurance against the promotion.

MARKETING MUSCLE: Wachovia is running promotional ads today and tomorrow in USA Today, as well as an extensive radio and online campaign. The print ads include the back view of an unrecognizable caddie at a previous tournament because the use of Kim’s image would have to be negotiated. The financial institution used a portion of its ad units in the CBS telecast to tout the promotion. Charlotte-based WFNZ-AM discussed the promotion as Kim walked up the 18th fairway yesterday, but Wachovia CEO Ken Thompson did not make any mention of it during a final-round interview on CBS.