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The Power of Testimonials

The internet has made information sharing easy, and we’ve become a society of reviewers. We check to see what others have to say before making even the smallest of decisions, whether we’re selecting an Uber driver, a wine to purchase or a show to binge watch.

If you’re a financial advisor interested in expanding your client base, it’s important to understand the power of a positive review. Investors want to work with professionals they can trust, especially when it comes to their money, and testimonials are a way to persuade prospects and build confidence. Now that the SEC has modernized its marketing rules to allow testimonials in advertising (with certain limitations and disclosures), it may be time to learn more about creating them.

Why they work
Advertising typically takes the “trust me, I’m great and here’s why” approach. You may be convincing, but hearing that message from an unbiased client is much more credible and authentic, especially when that client is relatable.

What should be included
Every testimonial should indicate how you solved a problem or provided a specific benefit. Examples should vary and hit upon the key needs your target market faces.

Factors to consider
Prospects want to know that you have experience and success helping others like them, so cases should be representative of different demographics and financial needs. As with any form of advertising, messaging should align with your value proposition and mission.

Where they should be used
Client stories can be used across your marketing content to help you build trust, including your website, email marketing, brochures or hand-outs. Photos and videos can make testimonials even more compelling and impactful.

How to get them
Your clients may be willing to share their stories and sing your praises — sometimes all you need to do is ask. However, before you publish anything, make sure you’ve secured their permission and that you’re following the SEC’s revised guidelines.