Are you wanting to make $5000, on autopilot, for free? Sounds great, doesn’t it. This is what $5K Formula is promising. Is it true? Or is this just another scam?
So what is the 5K Formula system? Let’s find out.
I’m so happy to see you here, to read my review. This means you care about your time and money and wish to find out if this system is worth it.
I’ve done tons of research on this product, and you should have all the information you need, by the end of this review, to make an informed decision.
If you are serious about making money online and skip these iffy products, please CLICK HERE.
What Is The $5K Formula System?
This product is created by Matthew Neer, who is, in fact, a real person. He’s developed many systems like this in the past. In fact, this is a re-vamped product he had about three years ago, by the same name.
He claims this system will make you instant commissions on autopilot, and for free.
$5K Formula System – $39.99
- Free Live Training Webinar – pushes another product by John Crestani
- Orientation Video
- 7 Entrepreneur Success Secrets Video
- Prolific Profit Course – 7 videos
- Recommended reading material
- His Traffic Strategies
- $5K/mo Webinar – John Crestani’s system
- Quick Start Guide
- Sign up with Clickbank -free
- Create account with GetResponse – $12.75/mo. and up
- Sign up with ClickMagick – $12/mo. and up
- Sign up with their traffic rotator – $19.95/mo. (guarantee 100 clicks per month)
- Overview to put everything together in the funnel
- Traffic sources
- Free traffic (viral list builders)
- Solo Ad vendors – $$$/mo.
- DFY Campaigns – $47 (upsell)
- DFY Pages – only 1 with initial purchase, or 12 squeeze page templates for $47 (upsell)
- Webinars – $97 (upsell)
- 12 videos covering everything from internet conspiracies to domain flipping
- License Rights for $495 (upsell)
#1. Webinars – $97
#2. Pages – $47, downsell $19.95
#3. License Rights – $495 one time payment, or $199 x3 payments ($597)
GetResponse autoresponder – $12.95/mo. up to 1000 Subscribers
ClickMagick tracking service – $12/mo. for up to 10K clicks
Traffic Rotator – $19.95/mo.
Solo Ads – $$$/mo.
DFY (done for you) campaigns and pages – $47
Total cost = $44.90/month plus $$$ for Solo ads, and $47 for premade funnel
Who Is This System For?
I want to say no one, lol. But if you don’t mind spending considerable money for the premade funnel and Solo Ads, then you could make some money with this funnel. Just don’t expect an income level as he claims.
It’s certainly not free like he advertises! And do you care about having your business run on his servers, using his material? This means no control!
I suspect the best way to make money with this system is to become his affiliate by buying the resale rights for $495. You can then keep 100% of the profits yourself.
Matthew Neer is also involved with another product called Income League, which has been taken off the market.
How Does It Work?
You would have gotten this advertisement in your email, saw it on Facebook, or go directly to Clickbank.
The sales video is his usual mix of showing off using cash in hand, showing off cars, etc. And don’t forget the life of travel, lol. This time he even goes to the bank and withdraws $5000 to show you how he profited. Can you see my eye-roll, haha?
This system is a made-for-you sales funnel. And he claims his success is because he uses ethical products that have extremely high customer satisfaction rates. Ya sure…
Matthew wants you to partner with him because he wants to scale up to $1 million in revenue. So the idea is for you to use his material to help him push his campaigns and his system. And you’ll both make money. He claims you’ll get rich, and he’ll get richer.
What I don’t understand is why he keeps saying FREE, when there are so many obvious costs? His sales page even talks about how it’s the upsells that have the funnel…
Matthew Neer says you can make money in 5 easy to follow steps:
- Login to your account
- Connect your commission link
- Select your traffic source
- Point traffic source to your commission link
- Sit back, relax, and make commissions
The first thing you’ll be doing, inside the member’s area, is watching a training webinar which actually pushes another product by John Crestani.
Then comes the orientation video talking about how rich you’ll be. His 7 video “Prolific Profit Course” is actually pretty decent, which shows you his method of setting up an email campaign.
#2. Accounts Sign-ups
You are shown how to sign up for and set up your autoresponder to his funnel. The concern I have here is you don’t have a choice about which autoresponder to use. This is the only choice, so if you have an email list with someone else, you’d have to transfer them over (if you can).
Signing up for a Clickbank account is easy if you don’t already have one. You’re shown how to connect this to the funnel as well.
He then wants you to sign up with ClickMagick. This is a tracking service which tracks each of your email campaigns. It allows you to see what’s being successful and which ones you may want to eliminate. These types of services are widely used in the affiliate marketing industry.
Didn’t Matthew say this was going to be free??
These steps are what can potentially cost considerable money for you.
He offers you to join his traffic rotator for $19.95 per month. This is giving you access to his email list, along with all his other members, and guarantees you about 100 clicks per month. That doesn’t mean sales. That’s just email subscribers who click open your advertisement.
He discusses a free traffic method using viral list builders. These systems have you using a downline to access a community email list, but they don’t work that well. You end up competing with so many other marketers, that’s it’s a miracle if you get any sales at all.
His primary traffic recommendation is Solo Ads. This is when you pay a vendor a fee to have him send your ad through his email list. People use this when they don’t have a list of their own, or they want a big push in advertising.
It usually ends up costing $.50 to $.75 per click. So if you want 200 clicks for one email blast, you’ll pay anywhere from $100 to $150 per run. Again this is only clicks, not sales.
#4. Done For You Funnel
When you purchase the initial product, you only have access to one pre-made ad page. Otherwise you need to create your own.
What he didn’t tell you in the beginning, is that to be able to use his made for you funnel, you’d have to spend an additional $47 to have access!!
Yup, and he said it was free… Far from it, I’d say. If you buy the upsell, you’ll have a choice of 12 different sales templates, which you can edit.
Sending out these sales ads is how you will build up your own email list. This takes time and money if you’re relying on social media to promote (because you don’t have your own website).
And when you’ve finally created a decent sized list, then what? Are you going to continue to promote more of these kinds of products, sold on Clickbank? I can’t see your list being too happy about being bombarded with low-quality products. They’ll most likely unsubscribe.
For an additional $97, you can download 10 videos covering a variety of topics.
- The Online Wealth Formula – 3:28:45
- Marketing Funnel Mayhem – 2:08:56
- Internet Marketing Commandments – 2:28:09
- Niche Vendor Mastermind – 2:42:06
- The Endorphin Dump + The Vault Of Good Will Strategy – 1:47:45
- Why Blogging Sucks With Special Guest And SEO Guru – 2:07:03
- Power Profit Pulling Forum Marketing – 1:39:51
- The Secret To Ichy Clicks And Strachy Ads – 2:22:38
- Fantastic 4 Money Intensifiers – 2:40:36
- Content Is Cash – 3:00:05
- How To Flip Domain Names For Thousands – 2:40:02
- Internet Marketing Conspiracies – 3:00:38
Some of these sound interesting, but I can’t tell you the quality because I didn’t buy this upsell. You can probably glean some useful information and training from them, and if nothing else, get a laugh with the conspiracy video!
#6. Resale Rights
This is where you could make the most money promoting this system. But it will cost you $495, or $597 over three payments.
Again, you are promoting this system only, which is making him richer, lol.
Matthew claims that with these resale rights, you make 100% on any sales you make. My concern here is how saturated the market will get with these made for you materials.
If every member is using the same material, people will start becoming ad blind. Meaning they’ll lose interest because they’re seeing it too often. Especially if they’re advertising on social media!
The only support offered is via email, and they say you’ll have to wait up to 72 hours for a response. That’s if you get one!
This is also a big concern for me. New online marketers need to access support quickly and efficiently to keep their campaigns on track. When something doesn’t work, it affects your bottom line.
It’s also important to be surrounded by like-minded people to help encourage and network. There is no community support here at all.
A Better Funnel
Do you know what a sales funnel is? Here’s a hilarious video, created by ClickFunnels, describing what one does…
- 30-day money back guarantee
- Low entry price
- Doesn’t require a website or hosting
- The system isn’t complete unless you buy the upsells
- No control over your business
- Doesn’t deliver what is promised
- Not free!
Final Thoughts And Recommendations
When I started researching this system, I found many positive reviews and videos which gave me hope. But alas, they were obviously affiliates of the program. There was no proof that they even used it themselves. Just rehashing the information found on the original sales page, lol.
When this product was launched, Matthew ran a contest for all the affiliates. This is quite common with Clickbank products. The affiliates who’ve been around for a long time, push the product in hopes of getting prizes. Thus, all the positive sales ads.
I was very disappointed, though not surprised, that the $5K Formula System didn’t deliver what it promised. Most products like these don’t.
They make wild claims about income potential, and how you don’t have to do any work. It’s all a lie!
If it’s too good to be true, it usually is!
Granted, if you buy the upsell, you can get the made for you material, which makes your job much easier, but you’re still required to spend tons of money on traffic and other services required for email marketing.
This is not something I’d recommend for a beginner. I know he says you don’t need any knowledge, but if you’re new with no email list, it’s going to cost you!
And if you don’t understand how email marketing works, or how to properly track your campaigns, or find profitable Solo Ads, you’re going to struggle to make any decent money.
Is $5K Formula System a scam? No Would I recommend it? No
Matthew actually does provide some training and his premade material for you, but you’re not going to make the kind of money he’s describing.
Sure, maybe he does, because he’s created a massive email list over the years, and is making money off of you too. But if you’re just starting out, you won’t have a list yet. And for that matter, if you do, is this something you want to promote to your list? I wouldn’t!
My email list is very important to me, and I want them to trust me to send them valuable information and help. Sending questionable promotions like this will only frustrate them and hurt my reputation. They’ll start to think that all I want is to make money.
And why on earth would he say this was a FREE way to make money? There’s nothing free about this!!
The only thing I can assume here is that you don’t need a website or hosting. Your sales funnel is hosted on his servers for no additional cost. But that cost is minor compared to his recommended traffic costs.
The biggest reason why I don’t recommend this system is that you don’t have control over your business. If you’ve read any of my other articles, you’ll know I ALWAYS recommend having your own website for your online business. One you own, that no one can take from you.
With this system, everything is hosted on his servers. You don’t have any control. What if he shuts this down? One of his previous products, the “Income League”, is now shut down.
What’s to say he won’t do it again with this one. When he stops making money with it, he’ll just move on to another product.
Then where are you? No business. No income. Nothing. You’re back to square one looking for another system to get you going again.
And in the meantime, you could have been building a bonafide business that would be earning you a scalable income by now.
Can I make you a recommendation that makes way more sense?
Instead of losing time and money on these shady systems, why don’t you come and see where I run my business. It’s on a great platform that’s been around for 15 years and growing every year.
I’ve been there since 2011, and love it. When I started, I knew nothing about online marketing. They taught me everything I needed to know and had all the tools I needed under one roof.
Here, you’re taught how to create a business from something you’re passionate about or interested in. And you can promote anything from soup to nuts, lol.
They provide all you need. Here are some of the most important:
- Step by step, interactive training for all areas of online marketing.
- They have a domain registry.
- They have their own WordPress website builder.
- Their own hosting platform.
- They’ve integrated their own keyword research tool.
- The support is outstanding with a live community and membership over 1.4 million people.
This is where you need to be to build a successful business with a solid foundation. Without that, you’ll end up struggling and wasting time and money hopping from one shiny object to another.
Here, you have your own website that you’re in control of. No one can shut you down and lose your income.
Want to know the best part? You can start for FREE! Yes, totally free, no credit card needed. And when you realize how awesome this platform is, and want to seriously work on building your business, you can join up for a low cost. No upsells, lol.
If you click on the picture below, you can read all about it. And when you sign up, I’ll be there to greet you. I’ll help you along as long as you need me to, OK?
See you soon!
So where did you hear about $5K Formula system? Have you tried it out? Let me know, below. I’d love to hear from you.
And if you have any more questions or comments, leave them too. And I’ll get right back to you.