Sticking to my first and only vertical so far, e-mail/zip submit, this PPV campaign builds on an offer from PeerFly: Day Night Payday (5339), which converts on short form first page submit. Payout $5.50.

The offer page.
Will buy traffic from Leadimpact (because I cannot afford to joing Trafficvance atm), and I will start with focused targets, e.g. "payday loan", "cash advance" -- keywords that are highly relevant to the offer.
Initially, I will direct link and set up 2 simple landing pages:

LP1 -- Top & bottom are jpg:s, the button is css. Button text blinks in Firefox. Total page size: 28kB.

LP2 -- The only difference from LP1 is the red heading with the regional shoutout.
Will let this campaign run for a while and see what happens.
Looks good , best of luck with this campaign mate 
Mehdi
Day 1

The image shows the performance of the two landing pages and the direct linking (DL).
Will add some more URLs/keywords as targets, and let it all run for an additional 24 hrs. I feel I need more data. Also, I will read more threads here in the PPV section, and check out some of the tutorials. So much to learn -- but fun and rewarding.
Nice, I will follow your progress on this. Payday loans are on my list of verticals to try after I get my credit reports campaign running smoothly. Good luck!
-Aaron
Accumulated data for the whole campaign so far: days 1-2 (July 15-16).

Total performance for LP1 & 2 (same design as in previous posts) as well as direct linking.
Yeya!
FACT: Payday works on PPV so don't give up son!
Thx guys.
Still a bit early too see where the incoming data is taking me. Will try and get more (quality) traffic by applying to and hopefully getting accepted by DirectCPV. (I am also thinking about bidding a little higher on the 1-2 most relevant, important targets.)
Will also put together a third LP, with social proof, security (logos), and urgency.
UPDATE: ye, I put together this draft (it is not live yet). I need some feedback, if possible, from my fellow stackers:
LP3, 29kB. This draft needs some critique. (Note: The button text-blink-effect works in Firefox, but not in Explorer.)
Any suggestions are appreciated, about, for example, design, content, text (English is not my first language) or whatever. Thx on beforehand.
Will launch it soon, so be quick if you want to submit hints and suggestions. Time-limited offer, stackers!
Accumulated data for the whole campaign so far: days 1-3 (July 15-17).

Performance of the same LP1 & 2 as in my first post in this thread dated 07-15-2012.
LP1 & 2 have done well, but I want to test something new.
So, LP1 & 2 are resting atm. I am currently only running LP3 (see post above), together with direct linking -- 75% of the traffic to LP3 and the rest is DL.
Wish me success.
Are you planning to include in your testing the word 'ALERT:' / 'GOOD NEWS:' in the phrase 'Special Offer for <city/state> ' ?
might just help get some attention.
Also, the text color red and bg blue seem hard to read the words, maybe consider a lighter red or some other contrast combination ?
Wish you luck, hope your new LP is getting you a good CTR/CR result.
hello foong, that's great advise, which I will definitely keep in mind when I start tweaking LP3. That dark red on blue is probably not a hit.
The new LP (LP3) is up and running, parallell to LP1 & 2 and direct linking, and I got today's data here:
Accumulated data for the whole campaign so far: days 1-4 (July 15-18).

Performance for Lp1, 2 & 3, and direct linking.
Engage rate is sick, if I can trust the numbers. Click thru ratio is decent, though I want >10%. Conversion ratio... don't know what to say. Need more data. Will let the campaign run for some times now, to get higher numbers. Applied for an account at another PPV network (DirectCPV) on the 16th. I am also thinking about rasing my bids for certain key targets. Just so that I get some more traffic. I am not talking about scaling, yet, just getting some more data.
I have bad experience with DirectCPV, their panel is painfully slow and support allmost non existant
I've heard that with the cash advance niche its all about testing a bunch of offers to find a winner..
Data for the whole campaign so far: days 1-5 (July 15-19).

Performance for LP1-4 6 direct linking for the whole campaign so far.
LP 1 & 2:

LP3 & 4:

This table shows the performance of my efforts (the direct linking & the LPs) split by the campaign days:

I've had 6 conversions so far. My general conclusion is that I need a lot more data. It is nice to receive a few conversions, but it is hard to make educated decisions based on bread crumbs.
Here is an update after 22 days.
Screenshot 1:

Screenshot 2:

Analysis: LP3, with its red text, seems to perform the best. And I had 4 conversions on the 23rd of July. Wish all days were like that.
On a side note, I had a major blue screen/computer breakdown at the end of this period (1.5 week ago) and I had to get a new rig. All is well now, touch wood, so I can continue with my AM endeavours. \o/ Will continue testing/optimizing and keeping my fellow STM:ers updated.
Update for days 23-26 (Aug. 6-9):

I'm just sending traffic to one LP atm (LP3).

Oh noes! LP3 got hubris!
great follow along, I've never gotten into pay day loans myself, always had some sort of ethical qualms about it, though I guess I needa get over that at some point. I've never promoted any of the negative option trials, biz opps or payday but seems like good money to be made.
In regards to your follow along, have you considered trying some higher volume targets? In all the campaigns I've ever run, I find when you're only getting a few leads / day, the data isn't as valuable / consistent so now that you've found your winner LP, have you considered adding in some higher volume targets or lots of lower volume ones?
also I would stick with TV / LI, I've heard some bad things about direct cpv but that's just my 2 cents
Yeah, there are always ethical questions about loans, not just from the perspective of AM but from many different perspectives in society. Personally, as an internet marketer, I see payday as a great way for ordinary people to quickly borrow from themselves when, for example, the car breaks down and it needs to be fixed. So I provide them with information (LPs & offers) about the possibilities of payday loans.
Maybe I should try some higher volume targets since, as you say, I get only a few leads/day. Just to get some volume in to the campaign. Given that LP3 is a 'winner', I might add some higher volume targets and/or lots of lower volume ones. The thing is, though, that the few targets that I use atm (and that seem to convert decent) was found during the first weeks of this campaign. And during those first weeks, I tested higher volume targets and lots of lower volume ones. Nevertheless, I still might add them again (not all at once). Just to see what happens.
Thx for advice about TV/LI. LI (my only traffic source) works well for me, and I like them. Will try and join TV eventually (cannot affort it atm).