After more than a year away from mobile offers and after doing good results in the past promoting EMEA, LATAM and APAC...
(My real ROI was around 80 and 100%)
I was mainly specialized in mobile CPA one click offers with carrier (operator) subscription.
... I had a feeling to comeback and test what's hot.
So this is a new start for me from zero but with all the knowledge gained in the past.
What have I found and first impressions:
In the past, it was easy to find well paid and converting offers. One click offers use to have a payout of around 1-1,50$. Now the game is different: there are a lot of single optin offers but they pay no more than 0,50$. Regulations are here.
From the other side, it's really hard to use good traffic sources like Adwords and Facebook due their proclaimed hate to affiliates. So I need to use other secondary traffic networks.
My first step will be determining what to promote and where.
I opened an account in

Well, now we need to understand statistics:
This traffic stats contain: from high quality traffic to real crap. From banner traffic to redirect and popup traffic. So high quality with banners have a higher %CR and low popup traffic quality has low conversion rate ratios. Some of this traffic is incentivized (more CR). This statistics are a mix of ALL variables.
It seems that, overall, some operators convert better than others. Now my first goal is to check WHAT converts in the ads network i'm using. Every traffic source is different.
Regarding tracking: I'll not use
So I took the first 10 converting Operators and started a campaign targeting this countries and operators in a popup Ads network sending traffic to their Smartlink. They will optimize my traffic to match the high converting offers. As I saw that WIFI is not really converting well, I targeted ONLY 3G traffic. <- Note that this is not my final goal. Just a test on whats REALLY hot and has potential in my traffic source.
This are my first results:
Visits: 19819
Conversions: 57
Earnings: 15,92$
Spent: 37,83$
Results: -21,91$
%ROI: -57%
Found 1 GEO that converts well and will be profitable after deeply optimizations and some candidates that need more data to concrete.
Note that this is without ANY optimization except 3G traffic.
What I'm going to do now:
Create one separated campaign for that GEO that converts on my source. Then make all the optimizations will be done there.
Take more data from other GEOs/operator candidates.
BR
Francesc
Hi Francesc!
Thank you for your feedback. We've added the inner tracker feature very recently, and right now it's really important for us to understand what else could be improved. In this case, I'm happy to see another satisfied affiliate!
Besides, your whole working process is very structured, and makes sense. It's obvious you are not new to this, just need to adapt to changes of the market.
Looking forward to see the updates. Best of luck!
Love your approach! Will be watching this thread - eager to see your next move and results!
Thanks for starting this thread to document your journey!
Amy
Well, yesterday I created two separated campaigns with well converting Geo+Operator while keeping test promo looking for more converting zones. And the results were:
Visits: 16807
Conversions: 78
Earnings: 18,36$
Spendings: 18,88$
Net profit: -0,52$
%ROI: -2%
Now I'll proceed as following:
- Keep accumulating data for well converting Geo-carrier campaigns (I think one or two more days). This campaigns are already on positive ROI.
- Then pause some clearly low converting spots on this converting campaigns.
- From the campaign with all carriers (I called Test test test campaign :P), pause the clearly non converting carriers.
BR and thanks for following
Francesc
Breaking even now!
Aim to take the camp to at least 30% ROI - after all, there are other business costs to running campaigns than just your traffic costs - plus you'd want to pay yourself a bit of a salary for your work as well! 
Amy
Hey Francesc. Good stuff. And refreshing to read another strategy to optimizing campaigns. If you don't mind me asking, you are still direct linking to the
Cheers,
Scott
Nice one.
We did pretty good with mobile last year, but gave up on that due to much hassle.
Tried a little a couple of months ago, but not seriously.
Thinking about playing around with smartlink as well.
Will follow your journey for now, good luck, man 
Update: Global stats since start.
Situation: still testing. Zero optimization done yet:
Visits: 116571
Earnings: 102,73$
Spent: 137,67$
Net incoming: -34,94$
%ROI: -25,38%
Until now, I've found 4 potential positive ROI carriers after optimization. That means 4 carriers that convert now in this traffic source. This knowledge costed me only 35$ 
Update: Global stats since start.
Situation: quit testing, 3 converting carriers selected. Now it's time to optimize. I LOVE optimization. My favourite part of the game. Basically I'm doing two things:
- Pause low converting spots
- Increase bids on high converting spots
I had to define "spot". My ad network advertises inside mobile apps and games. And what are the main variables to optimize?
1st: Carrier and WIFI <- selected converting carriers and discarted WIFI. DONE
2nd: Application where the ad is shown. Forex applications are not the same as baby applications. So some applications will perform better with my products.
3rd: Mobile devices. And more detailed, their screen size. Some landing pages will perform better in some screens.
4th: The real power: a combination of 2nd and 3rd: Some mobile devices (ie Samsung Galaxy J5) will perform very well in some well converting Apps (ie Candy Crash). So bidding high in this combinations will make good profits. Problem: high data volume is needed.
I've already found some well converting spots and some well converting combination spots.
This optimizations were started 2 days ago:
Visits: 192817
Earnings: 175,48$
Spent: 213,19$
Net incoming: -37,71$
%ROI: -17,68%
Finally I quit this project due that offers are converting only for a short time. When I had a ROI near 0% and I was waiting to start on green after some heavy optimization, it seems that this geo stops converting. It's impossible to fight against this volatility because when you have collected all data where it converts and you have collected one week of well converting sources, the offer stops working.
So if the good offers only work for a short time and I need to collect short+1 time of data, there's no deal.
Agree with stickupkid! Offers will come and go, and we need to work with that. Try to optimize camps by offer type - for example if you're doing mobile gaming offers that convert well with a general audience, then you can probably use the same app/site (placement) targeting for future games you test, such that you don't waste money cutting the same placement twice.
Also - have you looked into targeting by IP ranges? That's one of the easiest ways to increase your campaign ROI when running carrier traffic. Not every network has that option though. Go2mobi would be a good start.
At any rate, don't give up now! In this game it's all about figuring out how to keep going when we encounter problems. Every obstacle will filter out a bunch of competition - it's people that are always trying to figure out ways around the problems that will win in the end. Looking forward to further updates! 
Amy