What is this newly launched product that everyone is talking about? Is $5K Formula scam real? Or is it finally the answer you have been searching for to financial freedom?
Here, I provide an honest and unbiased review of $5K Formula System, digging into its secrets and revealing what you are not meant to know.
In this article, I will provide an in-depth review of $5K Formula, through the following sections:
- its review summary
- what it really is, and how it will not work for you
- its pros and cons
- is it scam or legit
- my recommendation
$5K Formula: Review Summary
Product: $5K Formula
Creator: Matthew Neer
Product type: Sales funnel and training
Scam / Legit? : Legit
Recommended or not? : Not recommended
The $5K Formula System is basically a done for you sales funnel which promises to be the fastest path to getting your first $5K online. It consists of landing pages, squeeze pages, as well as training on how to use them, and paid traffic training.
Sales funnels are but a small part to the entire internet marketing business. They are essential for success, but they do not guarantee your success if you do not get the foundation grounded, and simply jump straight to buying done for you sales funnels.
Successful internet marketers do not buy done for you funnels, they build their own, simply because it is important to connect and maintain rapport with your audience. Your audience know who you are, and they follow you for your distinct traits and value that you add to their lives. Using a done for you sales funnel will simply put them off, because they know from the sales pitch that it is not you.
If you are just starting out looking for the proper way to make money online, sales funnels do not come into the picture yet. Start with a firm grounding, by setting up your own website in a niche area of your choice, something you are passionate about. Then build content around it, so that search engines see you as the authority, and will start to send you free organic traffic. With traffic, you can then start to look into building your sales funnels and monetising it.
This awesome training platform provides a step by step guide to doing all these. Without it, I will not be here today, sharing everything that I know. Do check it out:
Read on for the detailed review of $5K Formula, and why I do not recommend it.
What is $5K Formula
Information presented in promotional video and landing page
As with any overly hyped up product, $5K Formula boasts of delivering the moon without letting you in on what exactly is in the product, except for throwing in some words to confuse you, until you reach the end of the promotional video.
It is a new instant commission system that Matthew wants to share with you. Because you are going to work hand in hand with him, to scale his system up to $1 million. His profits are your profits. When you get rich, he gets richer.
This product is completely different from anything you have seen before (he knows what you have seen before??). It is your very own automated selling system (no, it is not yours. It still belongs to him, you will see why later).
The very sales page of $5K Formula that you land on, Matthew is going to give you your very own copy of that sales funnel and system, which will let you put your name on his brand, and sell it like it’s your own, earning 100% of the commission (there is a big catch to this that he doesn’t reveal here).
So this scientific cashflow extraction system has all the nightmarish work done for you. You just plug it in, and collect your commissions. Matthew claims that if you had ever tried to set up a funnel yourself, you will know it is a technical nightmare (Really? This is absolutely not true. There are many page builders that offer great funnel building capacity. WordPress has some free plugins with which you can build beautiful landing pages. Many email autoresponders also come with their own funnel builders.)
Then he goes on to explain what a sales funnel is: you send highly targeted traffic into the top, and out the bottom comes money, over and over again. Oh geez… does this even help you understand what a funnel is?
According to Matthew, he also has a very aggressive upsell funnel that converts. You will earn 50% commission on every single product in their funnel. (Not the 100% as mentioned before? This is getting confusing… Oh and by the way, this is the exact aggressive upsell funnel that YOU will go through, if you buy this product! So they rip you off first, then teach you to rip others off. Nice.)
On top of all these, they do EVERYTHING for you.
They do the hosting for you, you can use their domain name for free. You don’t need any technical skills, no setup required. They even handle all your commission payments for you. Sounds neat, but to me, these are all red flags waving wildly at me. I will explain more later.
The last thing I want to point out from their promotional materials: they will supposedly teach you how to tap into free and paid traffic methods, but that is not true. The focus of their training on traffic is on paid methods. Which is not going to work for beginners, you will be spending thousands on advertisements before you may even start getting your first sale.
They make it sound like getting traffic is so easy, when in fact it is the most difficult part of the equation. Free traffic should be what every beginner must try to go after, because paid traffic is a different level of mastery altogether, requiring experience, a sizable budget, and a much steeper learning curve.
What $5K Formula really is
$5K Formula is in fact not a new product. It was first created in 2015 by Matthew Neer. It has made its rounds on various platforms at about half the current price, and now it is launched on ClickBank on 14th of January, 2019.
If it were such a great product, word will get around, his customers will get their friends and family to buy it, he does not have to keep launching it as though it were a newly discovered secret.
What is a sales funnel that this product keeps going on about?
Let me explain it in general terms. A sales funnel is basically a process, or some steps, that you, as a potential buyer, is led to go through, as they try to guide you to eventually make a purchase.
It can comprise a landing page, for example, with some questions that prompt you to consider the need for a product, and provide your email address to obtain a free guide. Then they may follow up with an email, with further sales pitch that prompts you to check out some video link. And lastly, another email with a link or button to finally purchase the product.
That is a sales funnel, there is no fixed way to build a funnel. But having a done for you funnel is no use for your own website, because it does not speak your language. You should have total control over how you want to build your funnel, the steps and the elements involved, so that it makes the most meaningful connection with your audience.
Firstly, this $5K Formula is giving you the sales page, or so called funnel, that sells itself. Which means you are paying the creator to help him sell his product. Does it add value to the buyer? No, except to sell it to even more people, then you earn your commission. But what real value is there? Maybe the training material does have some value for learning about paid traffic. But this should not be the focus of beginning internet marketers.
The content on the sales page gets confusing, because one moment he says you can earn up to 100% commission, and then it becomes 50%. In fact, you get the reseller rights ONLY if you buy the upsell for reselling this product. Putting your name on his brand and selling it like it’s your own, comes only if you purchase the pricey reseller rights.
Does that make things much clearer now?
Next, on to the red flags I pointed out. When they say they host everything for you on their servers, using their domain names, what it really means is that the funnels and the landing pages are NOT YOURS. So it is not accurate when they market it as ‘your very own automated selling system’, because it is just not true.
Pages hosted on their servers can be taken down anytime they want, they are in full control. If you want an online asset that belongs to you, you have got to get it hosted with a provider of your choice, and register a domain name of your choice.
So would you let these people handle your commission? Why should they be the ones to handle your commission, when there are affiliate networks out there to do the job? This product is found on ClickBank, an affiliate platform for digital products, for people to sell and buy digital products like this.
Affiliates can promote these products, and earn a commission of it, all done with transparency through the ClickBank platform. The fact that they want to handle your commissions is really a big red flag to me, that makes me very uncomfortable.
Why will $5K Formula not work for you?
It will not work for you, because it is mainly selling a tool that promotes itself.
Secondly, the done for you sales funnels are no use for your business, because every internet marketer should build his or her own funnel. Every business is different. Every group of audience is different. You know your own business, your niche market, and your target audience.
Now you may not know how to start building a funnel, it is perfectly normal. Because funnels come in after you get the basics and foundations of your business right.
Next, paid traffic is not for any newbie in the internet marketing scene too. If you start by trying to use paid methods to get traffic, you are going to burn a huge hole right through your pocket, and not get any results.
Paid traffic is only for experienced marketers who are already earning a consistent revenue from free traffic. They then have the financial means to try out paid traffic, taking it as an investment to their learning.
Because you need to try things out with paid traffic, before you can finally grasp the keys that bring you to where your targeted traffic is. And you have to be prepared to throw in a substantial cost to learn about paid traffic specifically for your business. When you master paid traffic, it’s time for you to scale up your business.
But before that, let’s get back to the basics: free organic traffic. How do we get that? The answer is simple: you build up content on your website. Build it up enough, and search engines will start to see your site as the authority in the niche. So when people search for answers related to your niche, search engines will rank your website on page 1 of the search results, and you get those people clicking to land on your site. This is free organic traffic.
How I learnt about all these, as well as setting up my website from scratch, I learnt them here, in this awesome training platform that has changed my life the day I stumbled upon it. I hope it can change your life too:
Pros of $5K Formula
1. Real owner
Matthew Neer is a real person in the internet marketing niche. So we do have some accountability and credibility here.
2. 30 day money back guarantee
This basic refund policy is in place, for people who are dissatisfied with the product.
3. There is some value in the training
There is definitely some value in the training, if you are entering as a complete newbie, knowing nothing. But paid traffic training and sales funnel training are not something that you would put into use right away. So there is just no point paying for it now. Moreover, plenty of great resources can be found all over the internet, for free. When you get to that stage, you will know where to look.
Cons of $5K Formula
1. Only works in the internet marketing niche
The sales funnel is pitched towards digital products in the internet marketing niche. So its application is very limited in this sense. You can’t use it in just any niche, because it would sound too salesy and spammy.
2. Not the minimum effort like what it is made to sound
Done for you funnels will not work. It only works for Matthew himself. Every marketer has to build his own funnels. You just can’t do a dance gig in front of an audience expecting to see the sales presentation for a property.
If anyone is promising you done for you everything, with minimum effort on your part, it won’t work for you. The only person it works for is the product creator, because he knows what his audience is looking for – fast, big earnings with minimum effort!
3. Not for newbies and struggling marketers
If you are already struggling to make any money online, are you going to dump in more money, in a hope to get traffic to your site? And keep on watching precious time and money go down the drain?
Or would you rather learn the sure way to get free organic traffic? It may be slow and hard work, but if you want to succeed, this is how you have to do it. There is no short cut around this. If it comes so easy, everyone would have succeeded online. Which we all know is not happening, precisely because success only comes to those who are willing to work for it.
Like any other product that takes care of not you, the customer, but the owner’s pockets, you can be sure $5K Formula is full of upsells. And they amount to a good $495!! That is why it can earn you a good 50% commission, if you try to promote these upsells to your audience.
Ultimately, if you’re in it for the long run, my advice is: don’t go for promoting products just because they can earn you money, without consideration for the value added to your customers. Because your reputation will suffer, you do not get to build up a fan base, the work that you do will not have a cumulative effect, and you have to keep depending on product creators to produce hyped up products that promise the moon but do not deliver, in a bid to get unsuspecting newbies to fall for it.
To me, this is just not an ethical way to run a business.
I do not recommend $5K Formula, because anything that is done for you will not work in your best interests, as it will not be specifically catered to your own business. Sales funnel is but a small part of the equation when it comes to making money online.
You don’t start decorating the Christmas tree before you get the actual tree up. In any online business, it is important to build a strong foundation before you talk about funneling your traffic to generate more sales.
Even when you get to that stage of funneling, you should be the one building it, because you have established the rapport with your audience, so you can pitch it according to what you know of their behaviour and patterns. Well, that is for another day. When you get there, you will know…
For now, let’s get the foundation right. From scratch, I set up my own website in a few simple steps, and started flooding it with content. This allows my website to gain authority in the eyes of the search engines, as they want to serve up websites that provide authentic and updated information to their users who are searching for answers to certain issues.
So I get free organic traffic, without having to spend a single cent. When that happens, that is when I can start to build my subscription list, interact with my audience, get to know their needs, and offer more value by recommending products and services that are right for them, and earn a commission from the suppliers of those products and services when my website visitors buy from them.
Through all these interactions, you will be subconsciously building out your funnels. When you gain experience in your niche market and understand your visitors’ needs, you will be able to identify the many free resources available from all over the internet, to build something that is specific to your niche and your customers’ profile, so that it converts at the highest rate into sales and commissions for you.
Let me show you how I learnt everything that I know today, and the proper way to establish a strong foundation for your online business: