Product Name: 5k Formula
Product Owner: Matthew Neer
Advertised Price: $5.95
Upsells: $20, $25, $39, $97, $495
What Is It?
The basic idea is that you plug in a “make money online” offer to the pre-made squeeze page inside the 5k Formula. Then you get free and paid traffic to the page from safe lists, solo ads, click trades, and Facebook groups.
This is basically a cut and paste formula that’s been done over and over by others on the “inside circle” of internet marketing.
- Step 1: Get a catchy name for you product that makes making money sound easy
- Step 2: Get video of expensive houses, cash, cars, and women to show your lavish lifestyle
- Step 3: Claim that your product can teach others to get what you have now
Important: Don’t forget to make it sound easy, fast, and for a limited time!
Inside the product, it's the same basic idea we've seen sold over and over again. Pick a make-money offer from WarriorPlus or Clickbank. Send traffic to the offer from solo ads, safe lists, traffic exchanges, Facebook groups.
Before You Buy This Product!
The Premise Behind 5k Formula
The basic idea I could gather from the sales video is that in order to make internet sales, you need a funnel to convert traffic into paying customers. OK, that sounds fine, I agree.
What 5k Formula promises to do is to give you an already-converting funnel-formula that you can use. They give you all the stuff you need, and all you need to add is traffic. In fact, it seems like we don’t have to do much of anything other than get traffic to the offer page.
Well, I’ve reviewed about a hundred other products that also claim they have a “just add traffic” formula. Most of them actually require you to resell the same product you just bought, but we don’t know yet what kind of thing we’ll be selling with 5k Formula. I’d be willing to bet it’ll be a “make money from home” product from Clickbank or JVZoo, but let’s wait to find out.
I highly doubt however, that it will live up to the claims on the sales page such as
It spits out money like crazy
or that it
acts as a digital ATM
or that it’s a
A scientific cashflow extraction system…
In my opinion, based on what I’ve seen so far Neer’s 5k Formula is trying very hard to appeal to our sense of greed and laziness. How many “easy money systems” have you purchased before? Have any worked out? Is there any indication that this system will be different?
Watch Out For Hidden Costs!
I checked out the JV page (for affiliates) and found a graphic showing the “amazing” funnel (AKA meat grinder) that he plans to put us through.
OMG. 5 upsells and 3 downfalls. The cost of the product starts out at $9.95 and if you purchase all of the things he offers you end up spending $684. Of course, you are not forced to buy them, but imagine if you went to McDonald’s planning on buying a $2 hamburger and ended up spending 69x the original price or $138!
This type of thing only happens on the internet, where people accept it as “normal” for buying make money from home products.
Upsell #1: Traffic related bonus ($19.95)
Upsell #2: Ten “Done For You” squeeze pages ($24.95)
Upsell #3: Sixty email swipes ($39)
Upsell #4: Secrets of the millionaires video series ($97)
Upsell #5: License to Neer's funnel (reseller rights), ($495)
What I Liked
Surprisingly, the training videos were pretty good! It was Neer himself (not outsourced). He spoke slowly, and sounded very confident in what he was talking about.
Everything about getting the system set up was covered in detail, and presented in “newbie” speak. I actually thought that the product creator was a pretty good teacher, and seems to have a lot of experience teaching about funnels, offers, and traffic. Honestly, I was quite surprised, so I gotta give credit where credit is due!
This product promises to get you set up fast, and that you don't need a website, hosting, or your own product. It certainly delivers on that front! Your squeeze page is hosted through the 5k Formula website, and you just have to connect it with your autoresponder and offer.
Keep in mind though, I have some other comments regarding this setup below (not good ones), so please read on.
Despite the reasons I dislike this setup, the idea of having a pre-made funnel that you simply send visitors to is attractive. In one of the videos he breaks down the business system we're trying to build, which is basically VISITORS > LEADS > COMMISSIONS. Simple, right?
Built From The Bottom Up
One part of the content I liked was that he suggested that you start swapping lists and clicks with people that market on your current level. This is similar to what I recommend with guest blogging or comment trading, where you work together with folks that are at a similar level of “success” as you.
Rather than try to ride on the coattails of big, successful gurus, build your own network of buddies at the bottom. Climb your way up to the next rung, then make more connections. Build a bit bigger, and continue to grow your network of folks that you can work with. Before you know it, you'll probably have some connections to even some of the biggest players online.
It's a lot easier to contact internet-famous celebrities than IRL celebrities for some reason! Still, start with people that are more on your level and build each other up, then go from there.
What I Didn’t Like
Typical Guru-ness Appealing To Your Base Desires
Come on. We all want fast, easy money. We all want to live the laptop lifestyle, chilling on the beach, drinking beer and hanging out with beautiful women. Or we want to take that easy money and spend it on our families.
It’s nice to dream, right?
My problem with products like 5k formula is that they go way overboard with the advertising. They give people a false sense of what’s possible, and how it’s done.
Think of legitimate online marketers like Neil Patel Pat Flynn – do you ever see them taking money out of the bank account and flashing it on YouTube so you “believe” that they’re rich?
[By the way, watching Neer take $5,000 from an ATM to prove that he is rich is one of the dumbest things I’ve seen this year]
No, we don’t see that kind of stuff from legitimate business owners and marketers because it’s tacky, and just not true. We only see this from the ‘guru’ community who constantly spin BS to try and scoop up as many gullible buyers as they can. I'm not going to name any names, but if you've purchased similar products before, you know who I'm talking about.
Real successful people, millionaires or not, are modest, because they just aren't worried about whether or not the masses know they have money.
It's A Dumb Idea To Build A Business On Borrowed Server Space
The whole idea behind joining the 5k Formula is that the email funnel is done for you. You don't have to set up your website or hosting, and you just plug the traffic in and go.
But did you consider that you don't OWN the website you are using to build your business? What happens if the hosting goes down or 5k Formula closes shop? Your business is dead, instantly. You don't have FTP access. You can't back up your site. You can't even customize anything.
A lot of people will find the idea of no website and no hosting attractive because it's cheap. Also, the product itself is only $6. But after you stack up all the fees you'll be paying to build your business, don't you think it would be worth just a little extra time and money to actually own the squeeze page you're using?
- GetResponse Autoresponder: $15/month
- Click.org: $9/month Tracking: $9/month
- Paid Traffic from “secret source” $20/month
You can get your own hosting for $10/month and a domain for $11 a year. I would highly recommend you invest ten bucks more into your business and just build your own website rather than build it on borrowed server space.
Just More MMO
You might not care that much, but the business you're building is just going to be another “make money online” email blasting system.
- Pick an offer from Warrior+
- Spam it out to as many people as possible
- Tell them that they can make fast, easy money
- Tell them it's a limited time offer
- Hope and pray for conversions
Unless you really love the idea of helping people make money online, then I wouldn't bother with this system. All you're going to be doing is sending out make money offers to people just like yourself. And if you truly love to help people make money online, I hope you invest more time and effort into helping them other than setting up a fantastical squeeze page and funneling them through a series of product offers just so you can make some sales.
I have mixed feelings here. It was a decent quality product, and definitely worth the money paid for it. I also feel like the system could work if you really put in the time, effort, and money to make it work.
At the same time, I think if you are willing to do all that work and even invest money into your business, you should be doing it on your own website, on your own hosting, with excellent offers and a more personalized connection with your subscribers.