This Week’s Hype: SourceCode Goldmine 2 and Michael Cheney’s AdSense Videos

By | May 5, 2006

UPDATE: This review is now outdated. I am leaving it here for informational purposes only. For the most up-to-date information and recommendations, please join my free newsletter.

Edition #45 – 5/5/2006

I’m a subscriber of a whole lot of marketing newsletters, and over the past week I’ve received an unprecedented GAZILLION promotions for Michael Cheney’s AdSense Videos.

Apparently a lot of you have too, because I’ve received several emails from Eric’s Tips members asking me if it’s a good deal, if they should buy it, etc.

I wasn’t going to review this product, because quite frankly everyone in the world is promoting it, and because (shhh… it’s a secret) I’ve got some other AdSense related tools for you in the near future.

However, the hype isn’t slowing down, and the questions keep coming so I did what any sensible marketer would do… I went and bought the product so I could give an educated opinion about it.

Yes I can usually get any product for free if I just say I’m going to review it for my newsletter, but I wanted to PAY for it so that I would have the freedom to criticize the product as a paid member.

You’ve seen the hype, and you’ve probably already read some other emails listing the benefits of the program, so I don’t need to do that again. Instead I’m going to focus on what I DON’T LIKE about it.

First, I don’t like the fact that I can’t download the videos. I have to watch them online. Cheney’s FAQ section says that he doesn’t intend to make them downloadable, and I’ll admit he does have very legitimate reasons. It keeps them from being freely distributed, and it allows him to update them easily. Nevertheless, I like to download something when I buy it, and it’s obviously an obstacle for people on dial-up internet (not to mention his site crashed again today).

The second thing I don’t like about it, is there is no volume control on the videos. It started off blasting too loud on my speakers, so I turned the volume down on my PC, but later on there was a part that was much quieter and I had to turn it up. OK, it’s a minor complaint and it shouldn’t be a deal breaker.

Lastly, I’m not a huge fan of the video-only format. I guess this complaint is sort of unfair too since the name of the product is AdSense VIDEOS, but it’s my personal preference. I like to have an ebook or web page to go along with the videos, so I can click on the relevant links and skim-read the parts I don’t need. It’s hard to skim through a video because you really don’t know what you’re missing. A good solution would be if he put an outline below each video, along with links for anything he was talking about.

That said, I found the content to be good quality, particularly for those inexperienced with AdSense. I don’t think you will find any “secrets” that aren’t being taught by other AdSense gurus, but I do think it will give you a great education if you go through it step-by-step.

So IF you’ve got high speed internet, AND you want a good AdSense education that you can watch and listen to, I’d say pick it up while it’s on sale for only $87.

One last note about Michael’s sale I want to mention. This is a prime example of the power of joint ventures. Michael Cheney was unknown last week, and now he’s world famous. Hats off to JV manager Mike Merz and the rest of Michael Cheney’s team who coordinated yet another huge launch.

Keep reading my tips for more great info about doing JV’s over the next couple weeks.

Next item of business: SourceCode GoldMine v2

After the last three source code blowouts (SourceCodeBlowout 1 and 2, and SCGM 1), Jeremy Burns has become known as a genius source code firesale marketer. However, many of his products have become commonly referred to as “those cheap ebooks that everyone is giving away as bonuses”.

Due to the proliferation of the previous products, I assumed that the hype would have fizzled a little for this new sale. However, it’s back and it’s stronger than ever. The new blowout was launched this morning, and I’ve already received at least 10 promos from well-known marketers.

What amazes me most, is that these gurus are using the same unadulterated hype that we’ve seen for the other firesales. You would think that this is the best thing since sliced bread. I only saw one truly unique approach (from my friend Jeff Dedrick) and consequently I ordered through his link.

So once again, I’m a paid customer, and I’m going to give you the straight up story on what I DON’T like about it. First I should let you know that not only am I a paid customer, but I have bought every source code sale he has ever had. And the reason I keep buying them is I have made tens of thousands of dollars with the code. HOWEVER, I don’t like everything about it, and I don’t think it’s for everyone…

First and foremost, I don’t like the fact that the rules of the license WILL be broken by many people. This time around, he’s made the rules much more strict in an attempt to curb the abusers who have spread the previous products across the web in record time, watering down their value to almost nothing.

This time, only the original 500 license holders will have private label rights to the products, and they can not sell the source code itself. Also the products can not be bundled in a group with more than one other product, and no more than two products can be offered on any page.

These are great rules, and he’s got to have them, but I give you my 100% guarantee that people will break the rules and it will not be long before you see these products popping up as free bonuses and $1 offers on eBay.

Second, I don’t like the fact that not all the products are 100% ready on launch day. I wouldn’t complain to him about it, because I know how much work it takes to pull off a sale like this, and I also understand the nature of creating software. However, it’s frustrating from a consumer standpoint. Every sale I’ve bought from him has had one or more products either “still uploading” or a doing a “last minute update”. In true fashion, one of the products is being updated and should be available in 24 hours.

Lastly, I think the topics of this edition’s ebooks are a bit overdone. Like “Internet Marketing For Stay At Home Moms”. Sure its a great niche, but I could swear there’s been at least a zillion of those in the last decade. And “Article Marketing For Content And Profit”… Although it’s a good topic, the proliferation of other PLR Article-related ebooks like Article Cash will make this one a tough sell. “How To Profit From The Public Domain” is another topic that seems like it’s been around the block a few times.

So with all these complaints, why did I still buy it? The answer is because it saves me time. It saves me time because it’s great private-label material, so if I need a small product or bonus in a hurry I can rebrand one of these in a couple hours instead of spending days creating it, or hundreds of dollars outsourcing it.

So here’s the deal… If you’re planning on selling these products AS-IS, then I’d say your chances of making your money back are slim unless you have a well-established customer base to market them to, or a popular website to sell them on.

Otherwise, you’ll simply be competing by price with everyone else, and that becomes tiring very quickly. So basically, if you don’t have the time to rebrand it, don’t bother.

It would actually be easier if he just didn’t name any of the products, and left the graphics blank for us to customize. However, I’m glad he gives them good names and nice graphics, because that means over 90% of people who buy the rights WILL NOT CHANGE anything. And I’m glad it works that way, because it gives a huge upper hand to marketers like me who are willing to take the time to make the products our own.

So IF you’re interested in getting into the private label game AND you’re committed to turning them into your own products, be sure to check it out before it’s sold out.

One more thing about Jeremy’s sale I want to mention. His one-time-offer after the sale is one of the best I’ve ever seen from a marketing standpoint. If you do join the site, be sure to pay close attention to WHAT he’s offering in the OTO and HOW it makes you feel.

I’m telling you this for your own marketing education… I have no way of profiting from his OTO. Basically, it makes you feel like you don’t have the “complete” package unless you buy the OTO. It was tied in directly to the main product, which is exactly what you want to do. It was compelling, and of course it was a good deal too. Personally I bought it, because again it’s material that I can use to save me time.

Now don’t get me wrong, I’m not telling you to buy the OTO. I’m just saying take a moment to study it through the eyes of a marketer, and then buy it only if you will use it.

Well this isn’t what I was planning on spending my afternoon doing, but I decided it was important to get “another” opinion to help you make the right decision for YOUR business, in regard to these highly publicized products.

As always you can leave comments here in the blog.

Have a great day!

24 thoughts on “This Week’s Hype: SourceCode Goldmine 2 and Michael Cheney’s AdSense Videos

  1. Rex

    Thanks for the email Eric, the proliferation of his jv program was amazing, if not annoying, and im glad you took the time to write this. you make some great points. Cheers!

  2. anne gallagher

    Thanks for your review – it certainly makes it easier for me to make a decision and as for the Michael Cheney videos I had decided against buying them for the very reason that they are videos w/out reading matter to accompany them.
    cheers and thanks again for taking the time

  3. Alan Young

    Thanks Eric,
    Your tips and newsletters are very refreshing
    in this crazy world of internet marketing!

  4. Veronica ODea

    Thanks Eric for the reviews. I have already purchased Michael’s Videos and have found some great techniques that I wasnt previously aware of, and I’m very grateful to have received this new info. But, like you, I’m not a fan of the video craze (or audio, for that matter) for the reasons that you have already described in your review. I much prefer the written word, and to have it printable, so that one can take it to work and read in ones meal break, or while waiting at the hairdressers, or doctors etc. I know that it is important to protect a product that one has created, but sadly, theft is a part of life, and just like trying to make our homes secure from invaders, the truth is that if someone wants to break in, they will find a way to do so.
    “Make it easy for your customers!” is a maxim that all marketers should follow.

  5. Glen

    Eric, thanks so much for sharing your thoughts on these promotions. I had talked to others that did buy them and they agreed that I should not spend my money on them. The thing I like so much about you is that you are not like the herd of gurus that spew pablum! You always tell it like it is. I appreciate that so much.


  6. DrT

    Hi Eric,
    Your emails are ones I always at least scan through and find many pointsof interest. Keep up the good work!
    RE: the Ad vids:
    It is not necessary they be downloadable to be passed around. All that is necessary is to capture them as they play and THEN pass them around. In this day NOTHING on the INET is sacred :o)

  7. Walt Bennetti

    Excellent reviews and appreciated. Not being able to download the videos and watch as desired or review is a huge negative. Michael could have given people download licenses or other restrictions to limit their proliferation.

    Not having products available at launch is also poor marketing. And all the rules and restrictions.

    The only way to make money on these is JVing and there are so many people chasing the same dollars. I can’t count how many emails I received about these two products.

  8. Shelby Carr

    Eric, thanks so much for the reviews. I have been thinking about purchasing both of the programs, but since I am real tight on money I decided not to. Now I am glad I didn’t waste the money. I also don’t care for the videos without written backup. I like taking written material to bed to read and I can’t do that with video. And I don’t have the patience for audio. As far as the source code and private label rights go, I haven’t yet got to the point of redesigning what I have, so it would be useless for me to get them right now. Besides I, too, have a feeling that I will see them on the internet before long. I love your reviews and tips. Your are one of the few emails that I actually read through. Thanks again and keep up the good work.

  9. Charlie

    Eric~ Thanks for the honest reviews. It is hard in this day and age to get one of those! Afraid I have been really turned off by the hype on the source code firesale, and consequently will not participate.

    I want to express my heart felt thanks to you for providing an honest critque of the many offers that flood my inbox. It is surely building trust in you for your honesty.



  10. Eric Post author

    “It is not necessary they be downloadable to be passed around. All that is necessary is to capture them as they play and THEN pass them around.”

    You are right Dr T. I was gonna mention how easy it would be to bootleg them with Camtasia, but I didn’t want to plant any ideas in people’s heads 😉

    BTW- thanks for all the comments everyone. It’s the most comments I’ve had in awhile, so it’s apparent that this is the type of review you like to read. I’ll be sure to provide some more hard critiques in the future…

  11. Nate Verhees


    Reading your newsletter was like a breath of fresh air for me. Sometimes, this business seems to be sort of a 15-20 member “Good ‘ol Boys Club,” with the motto “You scratch my back, I’ll scratch yours” (like the Bush Cabinet…). I was beginning to wonder if this business is for me, as I like to tell things like they are and don’t like misleading anybody. I’ve always liked your newsletter, but this particular issue quite possibly saved me from giving up. I am serious. You have shown me that it IS possible to succeed without lying and kissing everybody’s ass. So for this, along with your honesty and ability to look beyond the mere surface of things, thank you.

    One quick question… Part of the newsletter stated, “Michael Cheney was unknown last week, and now he’s world famous. Hats off to JV manager Mike Merz and the rest of Michael Cheney’s team who coordinated yet another huge launch.” Could you tell me who Mike Merz is, and explain to me a little more about the rest of his team/how such a launch is coordinated? If you have the time, it would be greatly appreciated.

    Thanks again,

    Nate Verhees

  12. Ray

    Hi Eric,
    I bought your Motivated Marketing package and I was impressed with your desire to help people. I’ve come to trust you and want to thank you for your review here. I saw your review after I had bought Michael Cheney’s package but I’m ok with the videos because I’m new and anything that flattens my learning curve is appreciated, but I now know a bit more about how the product could have been better.I’m sure you’ll help me separate the wheat from the chaff with your advice in your newsletter and reviews of products. Thanks Eric.

    Sincere regards,
    Ray Thibault

  13. Barbara Martin

    Dear Eric,

    I also want to express my heart felt thanks to you for providing an honest critque of the many offers that flood my inbox. It is surely building trust in you for your honesty.

    I hope you will continue in these critiques. Thanks again and keep up the good work

  14. Eric Post author

    One quick question… Part of the newsletter stated, “Michael Cheney was unknown last week, and now he’s world famous. Hats off to JV manager Mike Merz and the rest of Michael Cheney’s team who coordinated yet another huge launch.” Could you tell me who Mike Merz is, and explain to me a little more about the rest of his team/how such a launch is coordinated? If you have the time, it would be greatly appreciated.

    Nate, to be honest I haven’t done any business with Mike Merz (yet), but his reputation precedes him. He was Mike Filsaime’s affiliate manager for the $1.5M Butterfly Marketing launch. He’s obviously a well-connected guy…

    As for the rest of Cheney’s team… he gives credit in the member area to: Jeff Walker for advice, Neil Shearing for launch strategy, Adrian Ling for help setting up affiliate area, Brent from EcoverFrog, and Mike Filsaime for inspiration.

    So a few of these guys were not necessarily employed by Michael Cheney, but they helped him along a way. And as with any launch this big, I’m sure Michael Cheney did a monstrous amount of work himself.

    I’ll try to do some more product launch tips in the near future…

  15. Adrian Bold

    Hi Eric

    Thanks for the refreshingly honest reviews. I try to adopt a similar approach with my subscribers and I believe the Internet/Affiliate marketing world would be a much better place for all (including resellers) if we all stopped the hype. Coming up with some original material would also be a good idea! Is a ‘stay at home Mom’ really that different?



  16. Jack K.

    I purchased the Michael Cheney program because they WE’RE videos.
    I’m on of these guys that learns techniques much better by visual display.
    I wouldn’t have bought it if it was another e-book with a few screenshots. My computer is littered with ebooks that have great info but because I don’t like to read and try to absorb the page, videos work best for me.

    I like MC’s product and have picked up lots of useable techniques.


  17. Eric Post author

    Jack- I’m glad you chimed in with your opinion. You’re right, videos are probably the ideal format for a lot of people 😉

  18. Graham

    Eric – I’ve only just seen your review of the Source Code Goldmine 2 by Jeremy Burns – I bought this and the OTO package because he has a good name, I desperately need to start an internet marketing business and I thought these products were good, the stay at home Moms in particular because I thought this would be a good market, and also because they were ready to go with all promotional material, web sites and sales letters already prepared – so ideal for a newbie like me who has spent $1000’s of dollars and huge amounts of time trying to get started, and still can’t manage to get a website together.So imagine my dismay when I thought I was one of only 500 people in the whole world with the rights to these products, and I read your review and I think – is the whole internet marketing thing a scam, I might as well jump in the river!!!!!!!!!

  19. Eric Post author

    Hey Graham

    It’s really not bad deal for a newbie, so don’t feel bad. Like I said, I bought it too because it’s a lot of material which can save you time and provide a little bit of leverage. Keep in mind I never said not to buy it, I just said if you DO buy it, you need to use the material to create your OWN products if you want to really harvest the value out of your investment.

    The whole internet marketing thing isn’t a scam, but there are many wide roads to waste your money on. Keep learning every day and you’ll stay on the narrow path to success more and more. You won’t stop wasting money entirely (I still do often…it’s a part of research, and nature of the business), but you’ll become wiser with each purchase. Just be dilligent and try not to make the same mistakes twice.

  20. Peter Ashley

    Hi Eric
    Certainly, Michael has given out the best tips and sincee offers to his clients. Wish could personally meet in person to be in his class in Uk or elsewhere some of this days.
    My admirer

  21. Jeromy

    Hi Eric,

    I have been searching far and wide for some honest insight into Jeremys products, particularly his latest launch, SCGM V6.

    I very much appreciate your honest, no hype/bs review. I have been trying and trying to decide if this product is right for me. I do have an interest in creating/branding my own product. I have been helping promote other peoples viral products and figure it is due time to sell my own.

    This is an older version you reviewed here. Does you opinion of this product still stand?
    Are you still a ongoing customer of his?

    Thanks again for an honest review.


  22. Pingback: Another Week, Another Hype | Affiliate Marketing Blog

  23. Greg

    Your review about SCGM is accurate. Products “the topics of edition’s ebooks are a bit overdone” = rehashed content. I regret making my purchase. Buy your PLR somewhere else.


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