We see this all the time here on STM, someone buys a couple 100s clicks but doesn't get a single lead or conversion. The world is doomed, all looks black, there is no light at the end of the tunnel … but hey, there is always hope! 
This problem is usually tied directly to the traffic itself and that is also the first thing we need to take a closer look at. Remember how I mentioned that you need REAL traffic? That's what we are going to sort out first.
NOTE: All the traffic sources are competitive places, dozens of affiliates are competing against each other for the SAME traffic. Experienced people are bidding high for the good placements, pretty much all of them have black lists in place …
Guess what happens when you come to a traffic source as a fresh newbie and start a new campaign? You get the traffic that nobody else wants. Plus leftovers that the big guys left on the table. What you need to do now as a newbie, is avoid the traffic that nobody wants and target the leftovers