Do dedicated testimonial pages help with trust, SEO, and AI/LLM visibility?

I'm planning to create a dedicated testimonial page on my agency website where I'll showcase:

- Video testimonials from clients

- Reviews from Google, Clutch, GoodFirms, and other platforms

- Written client success stories

- Links back to the original review sources for verification

My main goal is to build trust and improve conversions, but I'm curious about the broader benefits.

Apart from helping with brand reputation and SERP visibility, have you seen testimonial/review pages contribute to:

- Better rankings or SEO performance?

- More mentions or citations in AI Overviews, ChatGPT, Gemini, Perplexity, etc.?

- Improved E-E-A-T signals?

- Higher conversion rates or lower bounce rates?

- Better entity recognition for a brand?

I'd love to hear real-world experiences, case studies, or data from anyone who has implemented a dedicated testimonials/reviews page.