Abundance Network – Summary
Key Figures: Jeff Long
Product Type: Online Marketing Tools
Summary: To earn, pay $150 per month. Early birds can get lifetime access for $500 with no monthly costs. They also have MLM commissions which you earn from your signups.
This is one of those programs that the FTC will not like. There are some products sort of but it looks a lot like a pyramid. The problems is a lack of retail customers. That being said I like the phone number service that texts your link to prospects.
Verdict: I would actually join this, but I think the FTC will shut it down if it gets popular.
What Is Abundance Network?
To join Abundance Network you pay $150 per month. If you join during prelaunch, you only pay a one time fee of $500.
The system itself is like a suite of marketing tools, which can be used to market any primary business. However the real money is in promoting the Abundance Network system itself. In fact I don’t expect many people to use the system for promoting other businesses at all. This lack of retail customer base is one of the reasons why I think Abundance Network may run into problems with the FTC.
- Multiple Lead Capture Pages
- Professionally Written Sales Letters
- A Team of people to close sales for you
- A built in text message system
- Contact and lead manager
- Tracking system
- Opportunity vault, which allows you to use the system to promote any business that you wish.
Phone marketing funnel
Automatically connected to contact manager so when people call or text, the number is logged and stored. Automatic message that you customize. Which prompts them to press 1 which will send them a link to a landing page or your choice.
After 10 signups you open up 25% commission matching on all direct sales and all pass ups.
What I Like About Abundance Network
Powerful Compensation Plan
I really like this type of compensation plan for a couple of reasons. Firstly the passups mean that you dont lose out when your direct signup quits. Maybe you get a passup that knows what they are doing and produces 25% matching income for you. If that never got passed up to you, it would have disappeared when your signup (and the passup’s sponsor) quit.
The 25% matching commissions really pay of once you get going. You get paid on both your direct sales and the ones you passed up.
What I dislike about Abundance Network
The FTC Will Not Tolerate This Program
Well that’s half true, what I should have said is that the FTC will not tolerate Abundance Network if it gets popular. Abundance Network have a program that heavily favours recruting affiliates. There will be an insignificant proportion of retail customers. The FTC considers this to be one of the mains signs of an illegal pyramid scheme but the FTC is kind of busy. Nothing will happen unless Abundance Network is popular or gets a lot of complaints.
If this happens they may get shutdown by the FTC or the SEC. Why the SEC? Because most non compliant companies are also offering unlicensed securities. Once again, nothing really happens unless a program is big enough to be worth shutting down.
It’s cheaper and easier for the SEC to shut down a company, they can just serve a cease and desist letter, which will have the same effect.
Selling Unlicensed Securities Programs that have these type of residual income opportunities are required to be registered with the SEC. Nornally it’s not a big deal and nearly everybody ignores it and hopes for the best. If the SEC decides to stop turning a blind eye, then Abundance Network are in regulatory hot water.
In the USA, the determination of what constitutes a “security” is determined by the legal precedents set by the following case: SEC vs W.J. Howey Co.
The precedent set by this case established a widely used “rule” or “test” for determining whether or not an opportunity constitutes a security. This test is known as the “Howey Test”
According to the Howey Test, a transaction is an investment contract if:
– It is an investment of money
– There is an expectation of profits from the investment
– The investment of money is in a common enterprise
– Any profit comes from the efforts of a promoter or third party
So as you can see the opportunity is technically an unlicensed security. When you anger both the FTC and the SEC, you are running on borrowed time.
The Real Deal With Abundance Network
I have no problem with joining this program. I like aspects of it, particulary the comp plan. I would’nt recomend it though, only because I do not see it lasting very long. There is no point putting all that time into something if it has a lot of shut down risk
Well at least they gave it a shot. I give it a C rating #theprelaunchinspector Julian Leahy The Prelaunch Inspector
How I Make A Living
I have developed a strategy using a legitimate affiliate program that allows me to hangout at home with the kids all day.