Hey guys,
I believe in systems and goals. So, I want to start my upgrowth with "Follow Along" threads. Here is my first Follow Along.
DETAILS
GEO: UK
Offer: Adult dating (Milf) - SOI - Desktop
Payout: $2.80
Traffic source: Traffic Junky
I've spent $250 on RON to get some data with 1 LP, 10 banners, 4 offer LPs. And here is the result I got in 3 days:

With -25%, I thought this is it! I'll get this one profitable then scale it up. These were metrics I can improve:

Off to a great start! Well done. Scale it bigger! 
No. 3 makes more sense. When you're just starting out (I presume) on a new vertical, new geo, you need to first optimize your funnels. You need data. Don't cap off your traffic too early and throttle your whole progress !
Nice start and progress!
-25% ROI almost right off the bat looks like the campaign has a lot of potential.
Adult dating isn't the easiest game to play anymore. I gathered up some tips in this post which may help:
http://stmforum.com/forum/showthread...l=1#post259000
Some comments about your process:
1)Testing more banners would be good. Try to come up with different angles, and create several banners based on each angle so you can see a trend, and give each angle a reasonable chance to prove itself. Once you see a trend as to which angle(s) seem to work better than others, you can create more banners for the same angle(s).
2)To optimize your funnel, you need to test multiple candidates so that you have several things to compare to each other, and then cut the inferior ones. Then you add more candidates to the test to begin another round of split-test and again cut the inferior candidates. Repeat a few times with offers and landers and banners and you'll have a much better funnel!
Right now your single offer and single lander seem to work OK, which makes it the perfect time to test banners. Once you have better banners, it would be great to test offers next, by adding other UK Adult Dating offers into rotation. After you find the best offer you may want to test landing pages next. Have you done the spying necessary to identify the most popular offers and landers being run for your geo yet? If not - this post will help you (scroll down to "Cherry Picking the Best Offers" - note that you can also cherry-pick landers while scouting out the best offers):
http://stmforum.com/forum/showthread...l=1#post196820
3)Cutting anything based on CTR is not a good idea. After all, CR is what makes you money, not CTR. And I've seen many, many low-CTR banners and landers make more money than high-CTR ones.
Here's info on how to cut landers: http://stmforum.com/forum/showthread...Banners-Part-1
As for banners, it would be better to test several per angle as mentioned above. Once your campaign is in profit, and you want to cut any banner that isn't likely to be profitable, you can use the process described here:
http://stmforum.com/forum/showthread...Banners-Part-2

Hey guys!
@meathead, thank you very much! I'm trying my best to scale it.
@adsflo, thanks a lot for your recommendation. (I'm really happy to coming across to your inspiring thread. It has boosted me.)
After, getting some data with more GEO. My next volume action will be absolutely adding more sites.
@vortex, hey vortex! this was very very helpful. THANK YOU SO MUCH. I read all of your comments & Finch's posts & all statistical work. Looooots of reading and lots of taking notes. WOW!
Thank you all,once again for encouragement. Here is my updates about my status.
OVERALL RESULTS
The only actions I've taken is adding new 3 GEO. And, here is the total result

Nothing special, I just got more volume and I think we got good data now to take action about banners & landers and offers.
METHODOLOGY
I have read lots of good stuff like Finch's premium post, statistical methods, caurman's tips, vortex's tips. I'm nearly clear about my framework to turn my campaign profitable and get volume.





Your posts are a pleasure to read - you organize the information so nicely in such a logical fashion, and use color and spacing so meticulously. Also - not everybody will bother to find out how to display images in full-size - I know I didn't before I was assigned moderator. 
Your methodology is great - you'll no doubt modify it and add more details as you gain experience, but it's an awesome start!
With regards to which banners to cut: You're definitely on the right track! However, during initial stages of testing banners, it would be much better to focus on testing angles first to find out which angles perform well, instead of fixating on individual banners.
If you create multiple banners for each angle, you'll be able to see a trend on how well each angle performs, based on the performance of all banners for that angle. This is more accurate than basing conclusions on a single banner - because the banner may have just gotten "lucky" with a great image or something.
Once you know which angles do well, you can produce an endless stream of banners from the same angles. Whereas if you only have a "lucky winner" banner, you'd have less of an idea on why it converted well. 
Also - once you know which angles convert, you won't need to be super-hesitant when cutting banners - because you'll be making so many banners from the good angles that you won't care. Using the spreadsheet THEN will make the experience a lot more satisfying.
One of my favorite tricks: Take the best banners and make combinations of their headlines and images. This can often make best banners even better!
Looking forward to your next installment!
Amy
@vortex, thank you very much for your help. You always give best tips and your words are very motivating.
Grouping banners as angles. is a great tip. So, I'll do test 3 angles with 3 banners. Let's see which angle wins!
Here is what I did for today:
2. Which landers to cut?

Result: I cannot cut one of them.
Next: Absolutely add a few after my spy tour.
3. Which offers to cut?

Result: I cannot cut one of them.
Offer converts with both landing pages well for now. I'll continue with it.
Next: Maybe I can test Double Option of same offer. I'll also try to detect leading offer. Maybe, then I'll give a test to increase CR. I've %11 CR (Offer Page) at the moment.
4. Which placements to cut?

Result: I'm saying good bye to Spot 2 in Camp 1.
Next: Maybe I can test that spot for that GEO later after I've optimized my funnel better.
Next actions for next hours:
- Cherry pick 1 king offer, 2 landers, 2 banners
- Add one more new website target (goal: more volume with similar similar roi)
Thanks for follow,
GREENzone
After my first in-depth cherry pick, seems like one network is really dominating here with similar offers. I got disappointed seems like top affiliates on my spot are very special for that network, so i think I can't get same offers. And more, I will never get same payout so I think It will really be hard to win the battle with those big boys. Let's think more about this one.
What do you advice?
A quick update. Overall stats:

One more quick update. Testing 2 LP of my offer. I'm %88 sure one is converting better, but still need +2 conversions to statistical proof:

Offer LP A vs. Offer LP B (Last 7 Days)

Offer LP B goes to HELL!
This is overall data for 4 GEOs and 2 Landers. Do I need to wait all sub dimensions will be statistically significant?
Like Country -> Offer LP (4 x 2 = 8 dimension)
Aff Lander -> Offer LP (2 x 2 = 4 dimension)
Do you mind sharing what tools do you use to compare landers and banners?
Great progress!
Actually, they've all mentioned in optimization posts of Vortex and Caurmen.
its too much of a difference. Almost double the leads with the same amount of traffic.
You're right, I need more speed than competition. So, yes, as you say I need to develop a SENSE. thanks matuloo!
Everyone has a different way of doing things - but I wouldn't be so quick to ditch the split-test calculator.
For those of you who have been doing adult for more than a few months, you'll notice that landing pages haven't changed that much - the ones I'm seeing today are similar to the ones I was running nearly 2 years ago. So I serious doubt that by making decisions before stat sig is reached, it will allow you to get ahead of competition.
Stats will allow you to stay objective. Without this objectivity, we'll start making decisions arbitrarily based on emotions. One of the most well-known super-affiliates in the industry told me recently that knowing how to cut stuff based on statistical significance is a skill that if mastered, can give you a significant edge over your competition (pun not intended).
If you're a very experienced affiliate marketer, you MAY be right more often than you're wrong by using your "sense". But as people relatively new to AM, not using stats in your process is not recommended.
In the end, everybody develops their own method. But I've seen too many new people make the mistake of cutting things arbitrarily without using statistical methods. Thousands of dollars in the hole later (or worse), they realize their mistake, learn to use the split-test calculator, and finally start to see their ROI improve - all because they're finally cutting the right stuff!
Just my 2 cents. 
Amy
So don't feel discouraged! Also, after finding a good offer and sending some leads, you can negotiate a better payout.
@vortex, @matuloo; thank you very much about putting your valuable opinions. It's a great pleasure read your different viewpoints.
I think, for myself actually, I need significance test til I build a sense. However, I need long time to learn that sense thing. Because I won't feel myself in comfort if I act without scientific ways. This cost more to get every other thing approved by statistic. It makes harder, but hey I'm in.
@vortex, Amy, again great tips.
This thread has dead...
There will be a better Follow-Along soon.
All your posts was very interesting, I can't wait to see the next one. 
Anyway, vortex and matuloo are full of awesome informations, so good to read and learn.