Testimonials can be a useful marketing tool. I wanted to toss a bunch of questions out to see if someone with some experience in the area can provide feedback and guidance.
Our target industry/customers are small-to-medium size broker dealers and proprietary trading firms. Generally we work directly with the firm principals but the testimonials can come from them, their managers or traders themselves.
To your questions, from my experience:
Good luck. And share a little more info on type of clients, industry, etc. for the benefit of others jumping in with their answers.