The Negative Side of Use from CIBC Bank on Social Media Research Paper

The Negative Side of Use from CIBC Bank on Social Media - Research Paper Example    Apparently, the continuously changing business environment and customer needs for a more convenient banking system have altogether motivated CIBC to inculcate social media as a key innovation in its customer services network. Use of Social Media by CBIC In its recent endeavors, CIBC has been rendering a varied range of banking services to its customers using social media in multiple linguistic forms, such as conveying its messages both in English and in French to the Twitter accounts. This, in turn, helped the organization in eradicating the barriers of cultural conflicts or segregation in delivering equal care to its customers in a global context. It is worth mentioning in this context that with the rapid changes taking place in the technology sector worldwide, the need for carrying the business through the social media has become very important for CBIC in achieving its goal of international competency. Subsequently, CIBC uses the most preferred social media in the worldwide c ontext, such as Facebook and Twitter, with the intention to advertise its new offers directly communicating with the targeted customers and also with the aim to deliver online services more effectively and in an informed manner (CIBC Mellon, 2013). In precise, CIBC opted for the inclusion of social media in its customer service network, with an intention to learn about the varied needs of the customers and also to attract a new range of customers towards its technology aided services. Strategically, the main aim of using the social media by CIBC is to preserve its efficiency in customer relationship management with the aid of direct-to-customer approach. The effectiveness of using social media by CBIC A critical examination of the organizational performance reveals that the social media was much effective for CBIC in the initial stages of its implementation. The strategy helped CBIC to attract a new range of customers and stay connected with the customers in the global platform, irr espective of the persisting cultural differences. However, after some years, there was a major problem observed in its usage, which indicated towards the inefficiency of the organization in continuously updating and managing its developmental strategies (Canadian Imperial Bank of Commerce, n.d). To be illustrated as a case example, the bank had engaged many Twitter and Facebook accounts with the purpose of delivering different services to its wide-ranging customer groups. However, owing to the managerial limitations of the bank, an involvement of many Twitter and Facebook accounts created confusion among the customers in availing the services of the bank as information sources became vibrant and multiple. Additionally, customers were also facing the huge problem in the searching the appropriate social media page on its website for availing the intended banking service owing to the deficiency of the bank to manage the technology resources efficiently. In order to mitigate such obstac les in customer service deliverance, the bank adopted the policy of greeting its online customers through Wikipedia.  Ã‚