We could debate the verb, talk about how customers will tell us how their experience was, etc, but I buy Ron’s assertion that firms need to take this seriously.  Its not just a question of measuring the outcomes.  It requires pro-active activities, cultural shifts, and I would suggest openness to achieve positive results.

When CEM first started appearing as a term a few years ago, I thought it was the perfect antidote to reengineering. Whereas reengineering was about process redesign from the firm’s POV (reduce cost and cycle time), I thought CEM would evolve to be about process redesign from the customer’s POV (reduce cycle time IF it resulted in higher satisfaction, add cost IF it resulted in higher satisfaction).

Source: The Future Of Customer Experience Management « Marketing ROI: Whims from Ron Shevlin

Banks in particular have to get over this hurdle.