Case Study: $2,755 Profit in Two Weeks – Testing CPC vs CPA Target on a Brazil Finance Offer

[btaliat]

Hey everyone!
I want to share an interesting experiment I ran comparing two payment models — CPC and CPA Target — for a finance offer in Brazil. Over just two weeks, this test generated a $2,755 profit, and along the way, I learned when it’s better to rely on manual optimization and when to let the algorithm do the work.

Campaign Overview​

• Offer: Santander (Finance)
• GEO: Brazil
• Traffic Source: Push ads on Kadam
• Affiliate Program: Zeydoo
• Payout: $7.88 (later reduced to $7.53)
• Period: 24.08.2020 – 12.09.2020
• Total Spent: $10,964
• Total Earned: $13,719
• Profit: $2,755
• ROI: 25.68%

The campaign was split into two phases:

1. Running with CPC (Cost Per Click)
2. Switching to CPA Target

Phase 1: CPC Campaign​

I started with two campaigns — one for PC and one for mobile. The first conversions came in quickly, but it became clear early on that mobile traffic was outperforming PC, so I dropped the PC campaign and focused entirely on mobile.


Results were strong at first, with an ROI of 47% in the first week. I began optimization by:

• Cutting underperforming creatives
• Increasing bids based on subscription age
• Disabling low-performing placements

However, while CTR stayed consistent, the conversion rate dropped from 0.26% to 0.18%. Reducing bids and further tweaks didn’t help. The performance decline made me decide to switch to CPA Target for the second phase.

Phase 2: CPA Target Campaign​

Switching to CPA Target was much easier because I already had data and proven creatives from the CPC test. Again, I launched both PC and mobile campaigns, but mobile was the clear winner, so PC was dropped.


Why test CPA Target? The model’s algorithm automatically optimizes bids and targeting based on performance data. My role was simply to monitor creatives and introduce fresh ones when needed.


From September 8 to 12, the CPA Target campaign earned $209 in profit — not a massive number in isolation, but considering the automatic optimization and minimal manual adjustments, it was an efficient use of time. It’s worth noting that during this period, CPC for the offer dropped and the payout decreased slightly to $7.53.

Creatives & Funnels​

The core message used in all creatives was direct and simple:
“Your card/account/limit is already approved.”


The best-performing creatives included:

• Numbers (payout figures, limits, etc.)
• Congratulations messages
• A pre-landing quiz with three questions and a timer

The funnel was straightforward:
Push Creative → Pre-landing Quiz → Offer Landing Page

Key Takeaways​

1. Start Broad, Then Narrow: Testing both PC and mobile was useful, but focusing on mobile early saved money and boosted ROI.
2. Clear Messaging Wins: A short, direct approval message with urgency worked best in the finance niche.
3. Timely Optimization Is Crucial: Quickly removing poor performers and increasing bids on top segments maintained profitability.
4. Leverage Automation When Possible: CPA Target’s algorithm handled bid and targeting adjustments efficiently, making campaign management easier.
5. Market Timing Helps: Running a finance campaign post-crisis likely contributed to strong engagement and conversions.

Final Thoughts​

In just two weeks, combining manual CPC optimization with automated CPA Target optimization produced over $2,700 profit. My main takeaway is that both models have their place:

• CPC is great for initial testing and control.
• CPA Target is perfect once you have proven creatives and want to save time.

For affiliates working in niches like finance, where targeting and messaging matter a lot, this combination can be a winning strategy.