Testimonials are used by just about everyone selling a service in the investment industry. But let's face it, they generally aren't worth a cracker. Why? Well, let's think about what a testimonial is. If it is for an investment seminar, it means the person got all excited by the presentation, loved the manner of the presenter, liked the material and generally had a good time. However, when this person gushes about the seminar in a testimonial it tells us absolutely nothing about the effectiveness of the material presented.
OK, so another person does a testimonial after having used the material. A typical one could be for a share trading seminar. He tells about the CFD strategy implemented that netted him a 1000% return in a week (OK, a little exaggeration!). Sounds good. What we may not hear is that the next week he blew it all away on a bad trade and blew even more on later trades that wiped him out. That might sound a bit extreme, but the point is that a testimonial really doesn't tell anything like the full story. It's just a bit of fluff and a marketing tool for the presenter.
The person giving the testimonial may or may not be successful, so we should be wary. I don't waste my time on them.Testimonials are good after product selection. So if you select your product, what ever it is, using facts and logic. You would want to ask "So what do people really think". So instead of a pre-fab testimonial, the most valuable ones are where you structure a few questions and ask a few selected users of that product yourself. Even if it was the seller who chose those users.
Now there is real value.
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