Thought I would show you what I have been working on in hopes to get some input and make improvements.
I set up 2 campaigns in GCN one that has been up for a few days and another that is waiting for approval.
Campaign #1 -
Offer - "Coupon Related" through NeverBlue
Lead - $2.10
Method - Direct linking
Using Banners provided by the network
Budget - $100/day
I have the Keyword Rockstar software and used that to help put the campaign together. It helps me structure the keywords and organize the ad groups.
Campaign details:
1386 Ad Groups
20K Keywords
35 different banners (all the sizes and some variations)
When I uploaded this campaign using Adwords editor it too a VERY long time to finish the post. The approval process was semi fast in that it took 2 days. They killed more than half of the ad groups and several of the banners but I did manage to get some impressions.
I am using tracking202 to manage the campaign but I am not confident I am using it entirely right but we shall see. ( I could really use some help in this area, Should I be using something different? )
The campaign has been running for a week:
Impressions - 32K
Clicks - 46
Cost - $19.11
CTR - .14%
Conversions - 2
P&L = ($14.91)
I am working on trimming down the campaign and have cut several more ad groups and have trimmed the cost on those ads groups that are getting the clicks. I am not sure how much longer I will keep this running but hopefully the conversions increase over the next few days.
Campaign #2
Offer - "Groupon type offer" through NeverBlue
Lead - $3.00
Method - Direct Linking
Banners provided by the network
Budget - $40/day
Again I used Keyword Rockstar but only to help put the Adwords Editor file together. I used the contextual targeting tool this time and created a VERY small list of keywords, relative to the other campaign.
Only 86 Keywords this time but according the traffic estimator the available traffic out weighed the budget. No need for any more.
Once I get the statistics coming in on this campaign I will be sure to pass them along.
I am a little torn between traffic sources. I know the adwords stuff pretty well but haven't had a profitable campaign in quite some time. I am getting more familiar with PPV traffic but I am no were near good enough to create landing pages. The tracking thing on the other hand is pretty scary. I'm looking into CPVLab after seeing it on display in the videos here but not quite sure yet. (someone convince me! )
I am open to any and all input. And YES I realize the first campaign was a bit much! 
Step 1. Stop using Keyword Roskstar and use your Brain
Step 2. Make sure to use google conversion tracking. Reason... once you qualify for Google Optimizer you can set your target your CPA and google will do all the work for you.
Step 3. Use banners I reccomend 300x250. Not sure if you're using text or banners, but I found banners work best. Set google to show banners that get highest CTR not rotate evently.
Step 4. Run placment report and block placements that have low CTR or don't convert.
Step 5. For content network Bid High Bid Low strategy works. Keep your budget low $20 - $50 a day and bid Wayy high. Expect to loose money initially but you should find actionable data after about a week.
Step5. Try CPM vs CPC
how long have people been able to sustain direct linking in GCN...........
best line of advice i was told about Google content......."If your keywords are all very directly related to the offer then you are probably paying too much for your clicks"......
Thanks Senior Russian,
I have followed your advice:
1. I set up conversion tracking and that is a great feature.
2. I set up auto bidding and that has increased my clicks by about 10x or so.
3. I had a banner campaign going and have used the auto feature again to eliminate the non performing ads.
4. I still you the software because it's the only way I know to set up the content campaign but the keyword angles are all my own (some brain function is required)
Yesterday was my first breakeven day, well close enough.
-26K impressions and 46 click at CPC of .46 = Total of $20.48
-9 conversions at $18.90 or 19.57% CR
- (-$1.58)
I will take that as a positive sign and move forward. The Google tracking tool was the best thing I did thus far although I have used some of the data in Tracking202 as well. I eliminated some sites that were getting clicks but no conversions and I eliminated ad groups that were getting clicks and no conversions as well. Hopefully I can have another positive days and I will continue to tweak my campaign. Maybe go with the CPM method for while.
Thanks again for the advice, It was very helpful.
Well 5 days later....
This week so far: (I had 2 days of profit)
95,150 impressions
219 Click @ avg. CPC of $0.46
Total Ad spend of $101.70
33 Conversions @ $2.10 = $69.30
CR = 15.07% <~~~ Good number!
Campaign Totals = (-$32.40)
Things I have done to improve the campaign so far:
1. Took all the high click low converting sites out of the campaign
2. Attempting to lower my CPC but the impressions are suffering
3. Even though I noticed that day parting was important, so did "Auto" aspect of GCN and they adjusted.
4. I know what sites that are converting for me, I haven't targeted those directly - Should I be doing that?
5. Knowing the domains that are converting can I create a CPV campaign now?
What else could I be missing?
Thanks again to Senior Russian for the help and I appreciate any additional notes to help me turn this into a profitable campaign overall.
Thanks for posting your campaign. It's great to see. Hope you can get it in the green soon with some tweaking.