How would you like to “set a timer for 30 minutes” and when that timer goes off you just began a constant drip of commissions hitting your inbox daily, and rinse and repeat and have as much of this “passive income” come in daily as you want. Is this too good to be true? That’s what we are going to be looking at in this Cash Magnets Review.
You must admit, this is a tempting offer and this is what Cash Magnets promises. Can they deliver on this promise, or would you be better off taking your time and money elsewhere?
What is Cash Magnets?
Cash Magnets is a course that shows you how to make passive income online. Everyone loves to hear about passive income because it infers that there is no real work involved, or that the work is done once time and then you continue to reap the benefits. So to speak. The owner of this course is Brendan Mace, who is fairly well-known for introducing product launches on the Warrior Plus market place.
These types of product launches are well-known for being low priced intro-products with one to five OTO’s (One Time Offers). Typically, the “deal of the week” type of product. Yes, they come and go, as many of you know.
Cash Magnets is a step-by-step video training that “takes you by the hand” and shows you how these cash magnets work and how you can set on up on your first day. They claim you don’t need a list, a product, or any prior experience to make passive income. They claim one can do this fast, the same day even.
They also claim that this method is truly ” a method that is EASY and EFFECTIVE. They claim that they bank up to $2000 per day passively with their very own cash magnets.
The Cash Magnets Sales Page
As you can see from the screenshot above, the sales page makes it sound like there is really no work involved and that you only have to set it up one time and passive income starts rolling in. It’s very vague because it doesn’t tell you how you actually make money. It simply promises you fast results in “20 minutes or less” and what is really scar is at the bottom it says you “Make Money Today”. There is a video, but even after you watch it, you still will not know what the training actually covers and what these magnets really are.
Yes, it is training, but training for what? What is the product?
Upon further investigation, I discovered that the real product is a series of OTO’s or One time offers. Five of them, in fact. So, in reality this is a product specifically designed for marketers to pull people into what I refer to as an OTO sales funnel. Specifically to sell more expensive OTOs’. Five of them, in fact!
What is an OTO Sales Funnel?
An OTO sales funnel is a sales funnel, or conversion funnel that marketers like Brendan Mace use to get people to purchase higher priced products or services known as a One Time Offer or OTO for short. Typically, the funnel starts with a fairly low-cost original product and then you are sent through a series of other product offers, usually for a higher price.
The strategy is to create a sense of urgency for the prospect in several ways. One of these ways is in the words “one time offer” meaning that this will be the only time you see this offer for this particular “low price. Many OTO sales funnels will put a timer on the page creating another layer of urgency.
These OTO’s are also known as up sells, since they are designed to persuade you to spend more money.
Normally, these products get more expensive as you continue. For that reason, they may also be referred to as up sells, since they’re a way to get you to spend more money than you originally planned.
OTO sales funnels are not necessarily a bad thing or a poor way to do business, for many companys use them in various ways. A “good” OTO sales funnel, in my opinion, is one in which the original product gives you what you expect based on the original ad copy. For example, if you look at the Cash Magnets sales page, I would expect that the original product would give me all the six items in the check boxes listed above:
- one time setup
- 100% passive income
- no techy stuff or softwares
- beginner friendly
- 20 minutes or less (here I am not sure what I would get in 20 minutes or less, paid perhaps)
- fast results
At this point, any additional OTO should give me additional items that are not on the list.
An example of a good OTO offer would be an advertisement for a pair of basketball shoes. I order the basketball shoes and then I get an offer for a good pair of inner soles designed to give me a more comfortable wear. So, if I do not purchase the inner soles, I still have what I paid for. The inner soles are just an additional avenue for more comfort. In other words, the original product stands on its own.
Using the same theme as the above example, a bad OTO offer would be that the shoes do not come with any inner sole and I would have to purchase the extra add on sale.
So, what about the OTO sales funnel for Cash Magnets. Let’s take a close look at it to determine for ourselves how the original product stands on its own and what OTO’s you would be exposed to if you were to purchase Cash Magnets.
The Cash Magnets Review OTO Sales Funnel
When you make the purchase of the original Cash Magnet product you pay (at the time of this article) $17. You are then exposed to a series of 5 OTOs’. But before introducing these to you, let us take a look at a section of the sales page indicating what you will get if you purchase the original product:
As you can see from sales page above, you would expect to get “24/7 passive income with FREE traffic”
right? I mean, after all, that is what the sales page says. But, what
you find out is you need to spend another $37 to get (drum roll
- Done For You Magnets – This gives people some “done for
you” magnets that they can start making money with immediately. No need
Now keep in mind you do not know this until after you pay the $17. I
don’t know about you, but this would make me think that unless I
purchase the first OTO, I will experience a lot of guesswork. After all
that is what it says I won’t need if I simply purchase this OTO. Then
what happens is you go to OTO number 2. Which will show me how to land high ticket sales.
Now here is another misleading part of the sales copy from the image above. It reads:
- set up is fast
- You’ll unlock the secrets right away
- And you’ll finally know the truth
What I find interesting is what OTO number 3 is all about. Let’s take a look.
OTO 3 ($97) Advanced Secrets – This shows some of our more advanced strategies that we’ll be
giving away for only about $100. A massive bargain.
So, this tells me that the secrets mentioned in the second bullet point above are not that great and that I now need the “advanced secrets”
Here is a run down of the OTO’s that you will be exposed to if you decide to pay the original price
OTO 1 ($37) Done For You Magnets – This gives people some “done for you” magnets that they can start making money with immediately. No need for guesswork.
OTO 2 ($197) High Ticket Magnets – We show how to land “high ticket” sales, so that anybody who can make even one sale a week can earn a big income online.
OTO 3 ($97) Advanced Secrets – This shows some of our more advanced strategies that we’ll be giving away for only about $100. A massive bargain.
OTO 4 ($197) – Limitless Traffic – This allows people to siphon traffic off our sales pages with ad Pixels they can put on our high traffic pages.
OTO 5 ($97) – License Rights – This allows people to sell “Cash Magnets” as if it’s their own product and keep 100% of the money.
Pros and Cons of Cash Magnets
- Sales Funnel Process They do give you a sales funnel process designed for the marketer who wants to promote Cash Magnets itself. It is a fairly good sales funnel that is well-designed for high conversions to the more lucrative OTO’s for the affiliate.
- Good Training Fairly good training only if you intend to use it to promote the program itself. But as far as using the training and applying it to other offers, it is lacking.
- Too Many OTO’sThis program is designed specifically for the person selling it and not the person buying it. As a standalone training product, it heavily lacks.
- Deceptive Sales PracticesSales and OTO pages are designed to make sales, and not really a training program to show you how to generate a long term income online.
- Traffic Can Be ExpensiveMost of the traffic generation tips inside of Cash Magnets are paid
traffic sources. This can be a very expensive way to send people to your offers. Unless you get a huge number of conversions, it can be risky advertising.
- Not good for your brandingMany people who promote products like this are not that well respected. Because once the product loses it’s appeal you will see the same people hopping on to the next “shiny object” and promote it.
Cash Magnets Review – Do You Need This Product
Using some tactics taught in this course, such as the sales funnel process and the use of OTO’s does have its place in the internet marketing arena, and you can generate a decent income using some of these techniques. When used properly and ethically. To answer the question above, no you do not need this product to earn a good income online.
If you take the time to learn how to use good marketing techniques, such as building a good sales funnel and having your own website to brand yourself with you can make a great income online and to it long term and feel good about yourself at the same time.
It may seem difficult when you see some of these high tech looking pages and that type of thing, but with good training, it really isn’t that difficult at all. Plus it doesn’t really take that long if you work consistently at it.
If you do like the idea of making money online, I recommend staying away from programs like this. I have been in this industry for over 15 years now and I can tell you that there are many programs like this one and they really are designed for experienced marketers to make a quick buck or two utilizing an already established mailing list. You may have seen this yourself if you are on a marketers list.
You may notice that they send you offers for many programs and you may have been wondering why they keep jumping from one to the other. Well they do that because programs like this are designed to do just that. Make a quick buck and move on.
The appeal of the Cash Magnets sales page was that you could generate 24/7 Passive Income with Free traffic.
Is this actually possible?
Yes, actually it is. However, you have to learn how to do it. In fact there is a much better way to generate 24/7 passive income with free traffic in any niche you want. Even in a niche that you are passionate about. What you really need is to learn how to generate an awesome income online without paying for the best traffic. Actually the best traffic is FREE. Do you want to learn how to do this?
So, What’s a Better Alternative to Cash Magnets?
Using a sales funnel like the on you saw in this Cash Magnets review is only one way people earn income online and as I mentioned before, using a good sales funnel ethically with a good offer can earn you income in the long term. Plus you can do this passively. While this is a good strategy, you do need to learn a few other skills in order to do this effectively and consistently.
If you are interested in learning how to build great sales funnels to use with any affiliate offer for your own online business there are many places where you can learn these strategies. You can literally build an awesome sales funnel in just a few hours or as a weekend project. Heck, you can probably build a real good one on your lunch break at work.
In fact, if you are a member of my top recommended affiliate marketing training program, you can learn to create a great income online simply by using your lunch break at work each day. You can even go through a live training course that teaches you how to set up an awesome sales funnel.
Now using sales funnels is really only one way to make money, there are others. Now when you combine the use of sales funnels and other affiliate marketing strategies you can easily make a five or even six figure monthly income.
Wealthy Affiliate vs Cash Magnets
As you can see below, comparing Wealthy Affiliate with Cash Magnets is a real no brainer. The features that Wealthy affiliate have when compared to Cash Magnets surely speak for themselves. Take a look at the comparison chart below for yourself and decide which you think is the best way to go.