Issues in migrating from 3.7 to 5.0

I am migrating from Sitefinity 3.7 to 5.0.
Steps followed:
1. Installed the Migration web service.
2. Create new project in 5.0, and set as stand alone website in IIS 7
3. Copy all files like app_themes, app_masters, css, XML, JS etc.
4. On dashboard of new project SF5.0, gone to link Migrate Your site from Sitefinity 3.7 SP4 to the newest version and with Sitefinity 3.7 project userid and password, started migrating.