Ok guys, I'm going to scrap my original follow along and start a proper one this time, with full disclosure on the entire campaign. As a quick update, I've been putting up TONS of campaigns following the 40 day guide exactly, and while I learned quite a bit, I'm still very deep in the red. So I decided to start tweaking things and testing more, branching out, and I'm still learning, but I feel like I'm missing something, and I don't want to keep repeating the same mistakes over and over again. So, for this follow along, I'll lay out everything, and hopefully someone can spot if I'm doing something wrong, or give some advice as to where I can improve. So, here we go!
This campaign I will be promoting a "Free Grocery Coupons" first page email submit offer, payout is 1.30. It's a newer offer on the network, earnings seem to be decent. I'll be using LeadImpact as my traffic source.
To choose targets, I use Google Adplanner, and set up my audience as follows: US only, Female, age range of 35-54, education as less than high-school, high-school, some college, household income 0 - 49,999, interest is set for "coupons". This gives me a list of 250 targets, which I then take the top 20 or so matches and use as my keyword list (I weed out weird subdomains that seem to be ad tracking or come up blank when I browse to them manually):
bestmealsathome.com
app.colgate.com - removed
facebook.nestleusa.com
wildforwags.com
smiley360.com
birdseye.com
escalatenetwork.com
myblogspark.com
commonsensewithmoney.com
grocerycouponfree.net
escada-fragrances.com
yofreesamples.com
commonkindness.com
coupons.redplum.com
couponproblog.com
justfreestuff.com
registration.rb.com - removed
secure.nectresse.com
thunderfap.com - this domain name cracks me up, but I'm using it 
spintosave.com
So that's my target selection process. So far, it doesn't seem very successful, as I get either tons of traffic from one keyword with very few conversions if any, or I just flat out get no traffic from the other URLs. So what I normally do is add the next 20 or so sites from the list, rinse and repeat, with similar results. I am noticing that most of these sites have absolutely no competition for bids, so that may be a warning sign right there, not sure though. If there is competition, I'll implode the URL and bid on the variations to keep costs at a minimum.
I'll stop here for now and see what you PPV experts have to say about this part, and in the meantime I'll work on my landers. Any pointers for this part? Am I doing something very wrong here? Thanks again for your help!
Here are my landers: (one of these might look familiar
)


Please, tear them apart and tell me how awful they are 
Ok, Landers have been uploaded, campaign created in CPVLabs and URL list uploaded to Leadimpact. Budget is set for $5.00/day, 1 visit per 3 day visitor cap. .015 is my bid for all keywords, now we play the approval waiting game with LeadImpact.
Just some thoughts...
Your target list doesn't look very good. First I would break things down by site angles, and then find the targets. For example
Grocery store websites (kroger.com, publix.com, wholefoods.com)
Recipe websites (allrecipes.com, etc)
cooking blogs
coupon websites (retailmenot, fatwallet, slickdeals, etc.)
parenting websites
See what I did? You need to sit down and just THINK and brainstorm. What kind of people would be interested in free grocery store coupons, and what kind of websites do they frequent? Also what kind of websites would they frequent when they're in "groceries mode." That's why I think something like recipes sites would be good.
Co-reg always performed better for me than the usual $1.30 email submit. Might want to test that too.
Ok, let's try this for better targeting:
grocery stores:
kroger.com/IN_STORE/Pages/coupon_landing.aspx
stopandshop.com/savings/coupons.htm
publix.com/save/Home.do
wholefoodsmarket.com/coupons
shaws.com/savings/index2.jsp
marketbasketfoods.com/double-triple-grocery-coupons.php
grocery lists:
grocerylists.org
grocerylistmaker.com
freeprintablegrocerylist.com
grocerywiz.com
dinnertool.com
coupons:
shopathome.com
coupons.com/free
dailygrocerycoupon.com
printablegrocerycoupons.net
mysavings.com/grocery-coupons.asp
coupondivas.com/printable-grocery-coupons.html
recipes:
allrecipes.com
simplyrecipes.com
myrecipes.com
foodnetwork.com/recipes-and-cooking/index.html
epicurious.com/recipesmenus/
frugal moms:
frugalmom.net/blog/in-the-kitchen
miserlymoms.com
thenewfrugalmom.com
frugalmomknowsbest.com
frugal-moms.blogspot.com
Does this look a little better? I'll try these today and see how it goes. I have some more ideas, but I don't want to have too many keywords going all at once.
Ok, Here's my stats so far:



I had to kill the two URL's in red, as I got plenty of traffic but no conversions at all. Interestingly, it looks like .shopathome.com had a pretty good CTR, so not sure why there's no conversions. Maybe the offer itself isn't good?
I swapped out my second lander for a copy of the first one, since it seems pretty clear to me that the first one had a much better CTR. The one change I made was to make all the text red:

Other than that, looks like I'm going to have to expand my URL selection quite a bit to get any kind of traffic.
.shopathome
I think you killed it too early, it only spend $1.60, on a offer payout of 1.30
I would let it run untill it spend 2.60, or twice the offer payout..
You had pretty good ctr on one target you have killed maybe you could test out more offers.
Johnny
Ok, I've re enabled the .shopathome.com URL, and switched to a very similar offer on another network, payout is now 1.40. Let's see how that does. I really appreciate the feedback guys.
Ok, I let .shopathome.com run for a bit longer, and same results with a different offer. Stinks because the CTR is so high, but still just no conversions at all.

I'll have to dig up some more URLs and see if I can get better traffic.
Also, the new LP change seems to be working quite well for CTR improvement:

I'll continue to split test with further iterations, assuming I can get SOME kind of traffic to convert. I don't think I can let this one go too much longer for testing budget, as I'm already at about 7 bucks total spend.
I'm running quite a bit of traffic to coupon offers through SEO. My experience is that 95%+ of the offers out there convert like crap, at least for my traffic. Only 1 offer out there that's doing alright for me at the moment, I prefer not to disclose it here though, but feel free to hit me up on Skype (melkabbb) if you want 
(First post here btw, hi everyone!)
Welcome aboard, Meln
. I think I'm gonna call this one a dud, since I've gone over my testing budget by a few bucks now, and it's just not converting. Good to know about the coupon offers, I'll look to some different types of offers for my next campaign, which I will continue in this thread. Gotten great advice so far, might as well keep it going 
Your lander is all wrong i guess.
Just think..your targets are highly famous so the angles should be devious
plz make sure when visitor click on ur aff link,it will open in the new window.
otherwise some merchants page not gonna fit the window size.