Wells Fargo Cultivates Borrowers With Discounts on Landscaping
LOS ANGELES - In a groundbreaking marketing campaign, Wells Fargo Bank is providing a good deal on petunias.
Wells, in conjunction with the California Association of Nurserymen, is offering landscaping discounts from about 300 nurseries to home equity borrowers.
With a "Planting Makes $ense" card from Wells, customers can get a 10% discount on landscape purchases over $200. The program is inexpensive to execute and helps the bank differentiate its home equity program.
Response Is |Favorable'
Since April, Wells has sent out 100,000 of the discount cards, which are valid for two years. "We have gotten a favorable response from customers," said Charles Campbell, vice president for product management in the mortgage division.
Wells includes information on water conservation and other environmental aspects of gardening with the discount cards.
The nurserymen's group came up with the idea and discussed it with several banks before finding a partner in Wells. According to a national survey, families spend about $284 a year on their lawns and gardens.