First Option - Indulging in small talk while searching for information, or/and providing updates
Second Option - Muting
Third Option - Putting caller on hold
This depends on how you handle the call and the caller's mood.
The first one is very efficient, especially with building rapport with the customer, but it is a skill, and not all are confident but very effective in reducing our total hold time.
On the other hand, we can put ourselves on mute if the customer refuses to be placed on hold (you can ask for permission to instead put your mic on mute) or if you think it will take just a couple of seconds to get the info (this is what we call soft hold).
The third option suits most people, but need not be abused. We must follow the proper holding procedure (hard hold), which is as follows:
1. Ask permission
2. Provide a time frame (1-2 minutes)
3. Give a reason for holding
4. Thank the customer
5. Return to the customer in the given time frame (ask for an extension if needed)
6. Apologize for the wait
We can say something like, "Thank you for holding. I'm sorry to have kept you waiting," or "Thank you [caller's name] for your patience. I will be a little longer. Please give me another minute or two" This demonstrates your respect for the caller's time.
In addition, to minimize putting the customer on hold, you can simply walk them through the process, especially if you don't feel comfortable engaging in small talk with the customer.