CIBC Mission Statement
CIBC’s vision is to be the leader in client relationships. Our mission is to fulfill the commitments we have made to each of our stakeholders:
1. Help our clients achieve what matters to them
2. Create an environment where all employees can excel
3. Make a real difference in our communities
4. Generate strong total returns for our shareholders
Based on this statement, using social media can help CIBC to fulfill even further their mission that they have set out.
CIBC is very focused on achieving satisfaction with their service to their customers. Social media platforms such as Twitter and Facebook can help to excel their customer service, as it is a method of giving real time service online. Technology is advancing further and faster than ever before and it is important not only for CIBC but all other businesses to keep up with current trends as a means of maintaining relevance. Social media is rich in various opportunities and resources such as attracting new customers, reaching a wider audience than with traditional media and learning about customers in a deeper level.
A website alone is no longer effective as a means of having an online presence. Now there are channels that are needed to drive traffic to the website and this is social media platforms. All social media platforms can be linked to each other and linked back to the website.
CIBC is committed to using technology to enhance their services.
In 2011 CIBC:
• Was named “Best in Mobile Banking” globally by Global Finance magazine
• Launched new CIBC Mobile Brokerage App and CIBC Home Advisor App – both firsts in Canada
Creating smartphone-banking applications has been a trend that most major businesses have already established. Mobile applications are the best method of catering to those who are always on the go and need to do their banking at any time and anywhere. But what happens when a customer needs help? Technology can help with customer service as well.
For the year 2012, CIBC should turn its focus on enhancing their social media presence. In comparison to their competitors, they are lagging behind the rest with TD Canada Trust leading the pack with providing service on all major platforms such as Twitter, Facebook, LinkedIn and YouTube.