If yes, you are part of the major chunk of companies that have lost a fortune to customer attrition or defection. Businesses lose customers everyday by putting them on hold. Such a simple act can cost millions, maybe more to the business. How? Businesses are not aware of the hidden costs involved when they lose a customer, customer defection are big drivers of price compression which directly affects the profitability. Customers, in the words of renowned marketers, are to be treated as Kings, and they expect to be treated as such, and when the company asks them to be on hold they get frustrated. And when you try to waste something that is invaluable, TIME, they react. And how they react can be improbable. One unpleasant contact center experience can end up being a social disaster for the business by putting the companys reputation at stake, let alone losing the customer.