Hi All,
I am running a CPL offer. So here is my angle:
a. I am promoting in FB boost post ad which says WIN free pendrive from Amazon. Once the person clicks ad, it takes him to landing page. After singe opt in the person goes to next page where he is asked to click on my CPA offers to increase chances of winning. Also using emails I plan to build list and promote offers further. FB traffic is what I am using. I am using the payment model as cost per engagement and not CPC. Offer targetted to UK audience.
b. Ran it for 3 days. Challenge is, the ad ( 2 ads for split testing) has got only 20 clicks, and none of them have converted(no sign ups). One ad got more clicks than the other, so I optimized it further based on audience demography and region etc. Now I am getting no click. 
C. My background: Tried learning affiliate marketing since 2012, tried blogging etc. wasted time, but studied a few courses and now understand at a very crude level, what the complete AM model looks like(probably). Not earned any money yet. I want to build list and do email marketing through. I need help with driving traffic, and converting opt in page. The offer is a Free Netflix coupon offer (CPL) which I want to promote, but the offer I think wont matter, but the ad is the crucial piece.
d. Suggestions and guidance to address this issue is welcome. Would really appreciate if I could connect with someone experienced offline maybe on Skype etc.. to show where I am stuck, and do the corrections.
BR,
Saikat
Hi Saikat,
I ran very successful competitions on Facebook before, 100% whitehat and for customers, in the UK and Ireland. I will tell you what I think is wrong with your approach.
On Facebook the picture will attract and the copy will presell. So if your picture isn't even noticeable, then you probably won't get any traction and that's why you probably should test a lot more than two pictures.
You should include some text in the picture - it worked great in hundreds of campaigns I ran on Facebook but make sure you don't exagerate.
Credibility: everyone and their mother are running competitions on Facebook, so you need to show that you are a credible source and that you will cough up the prize when a winner is selected. Did you run competitions before? can you post pictures of people who received a gift from your page as part of these competitions before? If you have no proof, run a couple of competitions and give about 5 for free, get people to send you pictures with these gifts and use them as proof - they work like gang busters.
Prize: You need to up your game, not many people care about pen drives anymore, unless you are offering 5 x 256Gb pen drives a day for a month. The bigger the perceived value of the prize, the more successful you will be. Once we offered a yearly supply of oral hygiene products and people loved it. The toothpaste was expensive, about £5.5 a tube. So the whole thing was less than £100.
Another time we offered perfumes (about 30 each on sale), jewellery - bangles, necklaces and earrings that cost between 25 and 35 each, beauty bags, Christmas hampers...
Time and date when the winner will be announced otherwise people will doubt your competition.
Cost per engagement is ok at the start so you can get some likes and comments -social proof - 5 or 10 dollars should be enough. Then you should transition to website conversion. In fact when you are running the CPE you should have your pixel set up and enabled in the ad. Then Facebook will do the work for you with lookalike audiences.
Your thank you page offer is not relevant to your front end offer - Of course it doesn't matter until people get to that thank you page, but if you're thinking long term, maybe you should think a bit more of your back end offers and make them congruent with your front end, so there is continuity and trust.
These are some of the results of one campaign we ran around Christmas last year and I am sure if you fix just the stuff above you will get these results or better.

Maybe you should post screenshots here.
All the best!
Hello, Saikat!
I see that you've been learning and trying different methods, which is good. You have the motivation to know where the money is!
I'll go straight to it, point by point:
a. If you don’t have much experience and aren't feeling very confident yet, I suggest you try easier segments. UK (and in general any country in Europe) is a very hard country to work on, because of the low volume and the high payouts it has. In these countries, you've got to spend a lot of money in order to get enough statistics and have a solid optimization. Easier countries where you can use English landings/posts are South Africa, United Arab Emirates or Iraq. They have more traffic (and the payout is lower), they convert better, and you'll spend less time and money to be able to optimize the campaigns.
b. Could you tell us what's the offer's payout? What costs did you have? I don’t think those 3 days were enough to gather good statistics to start cutting and optimizing your campaigns. I feel that your optimization may not have been good due to the lack of info. Again, if you go to a higher volume traffic (and normally with lower payouts) you'll spend less time and money until you can optimize your campaigns.
c. The offer has some influence. Even so, the way you advertise it is the most important thing! You must have very appealing posts. Do some research on Facebook to see what type of posts you find.
Mobile content seems to work very well on Facebook, such as Whatsapp content or sweepstakes offers to win phones.
d. Have you tried the “attract people to my website” (which would be your landing) and the CPC option to see how it performs?
If you prefer, you can PM me!
I can give you some more details about Facebook ads methods.
I'll be waiting for your news!
Cheers!