I finally got another campaign up and running this last few days... It's for an international dating offer. Pays $1.73, and $2.28 depending on the demographic
So far the two bests ads targetting different demographics have CTR's of
0.185% and 0.193%, with suggested bids currently around $0.14 for both.
The past 3 days have been :
Clicks/Conversions/Earnings/EPC
42 2 $4.57 $0.11
35 10 $17.12 $0.49
42 6 $11.99 $0.29
40 8 $16.98 $0.42 (There was one conversion for females which paid $5)
It seemed that the weekend doesn't convert so well with 60 clicks and only 2 conversions, do you think I should keep testing?
I've been using different landing pages as well as direct linking. Landing Page Click-through is around 23%
So far I've spent around $130 testing and earned around $50 back.
I'm kind of stuck with what my next step should be... Any help appreciated thanks 
I think you're making the same mistakes I made when I was new to dating ads. You're targeting too broad. You said you're targeting male and female, right? Pick one (female pays more but male probably has more volume, especially if its a smaller international market) and focus on that. Get the hang of promoting that offer to that traffic in that country, and when you get that profitable, make another campaign targeting the other gender. Focusing on a smaller demographic or niche will let you figure out the traffic source much better than going broad and wondering why nothing works.
Split test ad copies, images, landers, whatever else - but start simple. Two ad copies with the same images. Rotate in new images once in a while. When you figure out which ad copy does best, and which images do best, test that ad copy and those images against a new ad copy with the same images. Then rotate in more images and repeat.
Somewhere down the line split test a lander against direct linking with your top performing ad copy and images. Whichever performs better, split test it against a different lander idea. Rinse and repeat.
It takes a while but you'll know your target demo better than they know themselves after you go through all that.
If you move on to another offer chances are you'll hit the same thing and keep going into that cycle of try, fail, move on. Thats fine except you only hit a winner at that point once you stumble onto an offer that converts well first try. That's pretty rare especially in this market.
If you can afford the time and energy (and cash) to keep with it, I say stick it out. Like I said above, pick one offer, one traffic source, and make it work. Thats some of the best advice I ever got in this industry and I wish I had heard it sooner.
So the way you're advertising the offer isn't working well, but it IS working. The returns suck but there's potential. Either tighten your targeting so you spend less (thus improving your margins) or change your angle to see if that converts better with your current targeting. Or do both - go with tighter targeting and a niche or specific angle. Thats a great way to start. Once you figure out how to make that niche/angle work with that smaller group you can scale laterally to other groups within the original demographic, until you have several successful campaigns running at once. Thats when you'll see a decent ROI.
Running from an offer that is showing potential isn't a good idea. Honestly you're making 33% of what you spend, sure, but at least you're not losing 100% of it. That means there's potential to grow and potential to profit. If you can figure out what makes that demographic convert, you're golden.
@z6marketing, thanks for the help! The demos I'm doing are 25-29 and 30-40. I've tested quite a few ads, before finding this one thats has a decent CTR. Do you think I should keep testing to try get even high CTRs and lower costs even more? I've split test landingpages/directlinking and found direct linking doesn't really work that well, though maybe my landing page can improve abit...
@matt Yeah, I had a 40% clickthrough on my landing page, until yesterday. So I don't know if the offer has been dried up or not...
30-40 is too large a bracket. When I do dating on social I do 5 year groups to start (35-39, 40-44, 45-49, etc) and break it down that way. Start with one bracket - say, 40-44 - and do 2 ad copies with a handful of images. Rotate in new images. Figure out which ad copy works best. Test that against another ad copy. Rotate in more images. After a few times of that split test direct linking with landers. Try different landers. It's really a process but by the time you do this you'll know how that offer works for that demographic and when you make campaigns for 30-34, 35-39, 45-49, etc age groups, you won't be guessing when you start, you'll have a decent idea of what should work and that gives you a head start towards being profitable.
The problem you're probably having is you're running through testing too fast. You can't properly split test two ad copies in a day. There's no reason to start testing between direct linking and a lander until you test your ad copies. If the ads won't get clicked what does it matter if your lander converts 5% better than direct linking does? You need to get people there before you worry about converting them to the offer.
Test ad copies and images to improve CTR. Once you have people going to your offer, thats when you should worry about figuring out how to get them to sign up. If you get high conversions off direct linking during testing, even better. You can only go up from there.
Ahh okok, so I'm going to carry on with the 25-29 Males since that's the one I first started with, don't know why I moved to 30+ so quickly.
What CTR should I be thinking of getting before I move on to split testing LP/DL?
That depends on the traffic source, offer payout, your current CPM or CPC bid, etc. It's hard to say blindly.
For instance I had one campaign where I was getting .2+ CTRs on PoF and that was great but even as top bidder in my demo there was only maybe 5k impressions to be had per day (really tight targeting) - but that was profitable for me. Another campaign with less strict targeting on PoF was getting me 0.05 CTRs but was still profitable since the offer payout was high, my conversion rates hovered around 18% steady and I was getting a really low CPM.
You just need to get a feel for what will work for you - at which point can you make a profit, or at least break even, based on your payout and bids.
The new image is getting 0.240% CTR after 125 clicks.
I've got 4 conversions so far...
$40 spent,
$7 earned
The good news is, I've lowered my bid to 0.01c and I'm still getting a few clicks!
I changed the offer to another network and it seems I am making money now....
Although the previous network swears they are not shaving or anything....