Time (on hold) Is Money.

For better or for worse, being put on hold is a fact of life. No business is entirely immune from this fact, unfortunately, and sometimes it is necessary to put customers on hold. Floods of customers calling with only a limited number of employees being able to handle those calls at any one time means that, sometimes, it is inevitable.

However, as with most things in life, a balance must be struck. There is a vast difference to being put on hold for a few minutes and being put on hold for an hour or longer. A few minutes is understandable, but a few hours will lead to the customer becoming irate, and in many cases can lead to the customer to move onto another company for their services.

Yes, poor customer service is one of the main reasons why people switch from one company to another. People are, likely to put up with slightly higher prices if they are less likely to be inconvenienced in any way. For example, a person might well pay that extra pound or two for a travel ticket should that travel ticket allow them to reach their intended destination half an hour earlier.

Even if your customer service skills are not reflected in your price, it is still important to develop good customer service. Doing otherwise will lead to your customer questioning the product/service you’re providing and ask, “What am I paying for?” Price differentials become increasingly irrelevant as soon as customer service & satisfaction come into play. After all, the reason why a customer is paying you for a service is because they want you to satisfy them.

Have a look at our infographic below to see how and in what way customers being put on hold can harm your business.

virtualVIPTimeIsMoney