CIBC brings hope to the challenges of home buying

The bank tells a story of eviction to ownership as it brings its new brand to its mortgage business.
CIBC-CAMPAIGN

CIBC is highlighting the emotional roller coaster ride of first time home buying in its latest spot.

“Let’s Find Your Way” tells a tale of a young couple who loves the place they live in, but are faced with leaving after a landlord looks to sell. But when the duo meets with a CIBC mortgage advisor, they find their light at the end of tunnel – both figuratively in the advice she gives, and literally when the bank’s new chevron logo lights up the cafe they are meeting at.

“With this spot we wanted to show that transition from renting to purchasing your first home may be driven by a number of factors, but the support of a CIBC advisor can help you find your way and make the ambition of home ownership real,” says Esther Benzie, VP, marketing and client communications at CIBC. 

Benzie tells strategy the campaign and tagline of the same name, “Let’s Find Your Way” reflects the current realities, complexities and anxieties of the housing market, and taps into a dreams of many Canadians that seems out of reach– to own their home. The idea of providing the support people need to reach their ambitions is a key part of the bank’s new brand platform, Benzie says “Let’s find your way” is a new message specific to its mortgage advice and offerings.

“We want to reflect real client experiences and the support we can provide at CIBC,” she says. The campaign was created in collaboration with long-time agency Juniper Park\TBWA.

Spring has traditionally been considered home buying season, a season of change, and as Benzie explains, in the current housing market, with inventory and affordability challenges, it’s also a good reminder to seek financial advice early and consistently to achieve home ownership goals.

The media mix supporting its mortgage campaign is a broad one, to reach people at different points along their journey, building from awareness to consideration. First-time home buyers, newcomers and young families hardest hit by affordability and inventory issues, particularly in the Greater Toronto and Vancouver areas, comprise the primary targets.

Spending for this year’s campaign is in line with spring campaigns over the past couple of years, though there is a greater focus on TV to share CIBC’s new brand identity and positioning. The fully integrated campaign is also running in OOH, online videos, digital and social, with media handled by MediaCom.

In March, CIBC announced it is raising its Canadian prime lending rate by 25 basis points from 2.45% to 2.7%, in line with the Bank of Canada’s recent interest rate increase, the first of a planned series of hikes from the central bank.

According to the latest figures, CIBC’s residential mortgages total approximately $235 billion.