What mistakes do partners most often make when launching and scaling ad campaigns?

What real challenges do they face in day-to-day work, and what prevents them from achieving stable results?

In this case study series by N1 Partners, we break down real affiliate campaigns, highlight common pain points in affiliate marketing, and show how partners find practical solutions that lead to measurable success.

This edition focuses on ad creatives. No abstract “best practices” – only concrete mechanics, insights, and ideas you can apply to your campaigns right away.

The cases were shared by Bogdan Solodushchenko, Affiliate Team Lead, and Dmitrii Filippov, Affiliate Team Lead (SEO).

CASE 1 (Facebook Traffic)

Context

• GEO: DE
• Traffic source: Facebook
• Brand / vertical: N1Bet
• Campaign goal: Increase conversion

Initial Challenge (Pain Point)

• What wasn’t working in the creatives?
  The creatives showed a low conversion rate from registration to first deposit.

• Was the issue related to format, messaging, visuals, or the offer?
  Primarily to the information shown in the creatives and the creative format itself.

What the Data Revealed

• Which metrics indicated the problem?
  Low reg-to-dep conversion.

• Where did the funnel break?
  At the creative level and during audience targeting.

What Was Tested

• Visuals
  Aggressive, dynamic video creatives with slot gameplay.

• Messaging (emotional vs rational)
  High aggression and heavy use of triggers.

• Focus: bonus / product / UX
  Emphasis on the bonus and a female character in video creatives.

Decision Made

What was changed in the creatives?

1. Updated the bonus and featured a top-performing slot with proven product quality
2. Added a dedicated promo code directly into the creatives
3. Refocused targeting on the most active audience segments, segmented by gender, average age, and peak activity time slots during the week

Why this approach was chosen?

Users were not getting what they came for after landing on the product.
The promoted slot wasn’t visible, the bonus was outdated, and the product’s visual style didn’t match the creative – all of which created a mismatch in expectations.

Results

• • What improved?
    Reg2dep increased from 8% to 22%.

• How quickly did the results appear?
  Almost immediately – visible within 4–5 days after relaunching the test.

Key Takeaway

• What worked best?
  A full creative overhaul aligned with the actual product, which helped meet real player expectations.

• Is this scalable?
  Absolutely. Once a winning creative format is identified, we scale through variations – tweaking individual elements while preserving the core message and logic.

CASE 2 (PPC Traffic)

Context

• GEO: CA
• Traffic source: PPC Direct (Ice Fishing keywords)
• Brand / vertical: RollXO
• Campaign goal: Increase conversion

Initial Challenge (Pain Point)

What wasn’t working?
Most traffic came from Ice Fishing slot keywords, but the slot wasn’t available on the homepage. Users came specifically for that game, couldn’t find it immediately, and quickly lost interest.

Was this about format, messaging, visuals, or the offer?
The issue was primarily the incorrect landing page choice.

What the Data Revealed

Which metrics signaled the issue?
Lower reg2dep compared to similar traffic sources.

Where did the funnel break?
At the landing page selection stage.

What Was Tested

Visuals
Ice Fishing slot keywords.

Messaging
Pure slot-focused keywords.

Decision Made

What was changed?
Traffic was redirected straight to the demo version of the slot, and the game was also added to the homepage.

Why this approach was chosen?
Users interested in a specific game want immediate access, not extra steps inside the product.

Results

What improved?
Reg2dep increased by 8%.

How fast did the impact show?
Almost instantly – positive dynamics were visible within a couple of days.

Key Takeaway

What worked best?
Switching to a highly relevant, thematic landing page. Players landed directly on the demo and got exactly what they were looking for.

Is this scalable?
Yes – the approach can be scaled within the campaign and tested across other slots and games.

Quick Q&A

If you were launching these campaigns today, what would you do differently?

Bogdan Solodushchenko:
I’d take a more structured approach from day one: clarify with the manager what’s currently performing best, which audiences respond strongest, which top slots to use, and which bonuses convert best. And if campaigns lead to a specific slot, I’d ensure it’s immediately accessible on the product.

Key conclusions from these cases?

Bogdan Solodushchenko:
There’s no universal approach. Targeting and creatives must be customized per offer, because not every product supports the same funnel logic.

Who are these cases most useful for?

Bogdan Solodushchenko:
For all partners. New teams can boost conversion, while experienced ones can improve player quality. Personalization impacts both.

CASE 3 (SEO Traffic)

Background

After a major Google core update, conversion from the landing page on the Lucky Hunter brand dropped sharply in the DE GEO. The goal was to quickly find a working setup to retain the partner and preserve traffic volume.

Context

• GEO: DE
• SEO type: Cross-brand
• Brand / vertical: Lucky Hunter casino
• Campaign goal: Increase CR (reg2dep)

Initial Challenge (Pain Point)

What wasn’t working?
Click-to-registration was strong, but registration-to-deposit dropped significantly.

Root cause
The same landing page had been used for a long time, leading to classic creative fatigue.

What the Data Revealed

Which metrics raised red flags?
Very low r2d with strong c2r.

Where did the funnel break?
At the reg-to-deposit stage.

What Was Tested

• Slot-focused landing pages

Decision Made

Traffic was redirected directly to specific slots – not random ones.

After testing multiple options, the best performers were:

• Jetsetter
• Sweet Sugar
• Kenneth Must Die
• Bikini Paradise

Results

Which metrics improved?
R2D increased from 23% to 51%.

Time to impact
Within one month.

Key Takeaway

What worked best?
Fast reaction from the manager: identifying the issue early, flagging it to the partner, and implementing concrete corrective actions.

Is this scalable?
Yes. Creative testing remains scalable, especially as SEO shifts toward content quality rather than aggressive link-building.

CASE 4 (SEO Traffic)

Background

A partner requested a promo code-first setup, where the promo code had priority over tracking links. Traffic was planned from forums, platforms like Reddit, and Google search – both short posts with guides and long-form articles.

Context

• GEO: Worldwide
• SEO type: Parasite SEO
• Brands / vertical: Goldex Casino, Spirit Casino
• Page goal: Traffic from non-standard queries

Initial Challenge (Pain Point)

What wasn’t working?
At the approval stage, promo codes couldn’t be promoted separately without links.

Root issue
Players were not being attributed in stats after entering the promo code.

What the Data Revealed

Which metrics showed the issue?
High CTR but no registrations or deposits.

Where did the funnel break?
At registration.

What Was Tested

• Promo code flows without tracking links

Decision Made

What was changed?
Dedicated landing pages were built for these funnels, with full brand descriptions and clear promo code activation mechanics.

Why this solution?
Together with Product Managers, we analyzed the funnel, ran tests, and selected brands suitable for promo-code-driven traffic.

Results

What improved?
Traffic launched successfully, the hypothesis was validated, and the number of FDs increased.

Time to impact
Within the first two weeks after launch.

Key Takeaway

What worked best?
The promo code performed exactly as the partner expected. Providing the right functionality directly contributed to traffic growth.

Is this scalable?
Yes – we now understand how to properly use promo codes without tracking links and how to correctly track such mechanics.

Quick Q&A

If you launched these SEO campaigns today, what would you change?

Dmitry Filippov:
First, I’d evaluate how the creative performs on the partner’s specific source, not just overall stats. Second, I’d run multiple tests to explore all possible scenarios.

Main takeaway?

Dmitry Filippov:
Regularly review landing page performance and switch to alternatives immediately when performance drops.

Who benefits most from these cases?

Dmitry Filippov:
Teams working with large volumes who may miss isolated traffic drops. The manager’s role is critical – spotting issues early and bringing ready-to-use solutions. From a source and GEO perspective, this applies to any SEO type and any market.

Final Note

These cases once again prove that sustainable growth in affiliate marketing isn’t built on universal formulas, but on attention to detail: traffic source, GEO, product, and real user intent.

Most failures are fixable – the key is spotting the issue in time and doing the work to correct it.

And this is exactly where the N1 Partners affiliate team is always ready to help.

Join N1 Partners affiliate program and become number one in the industry!

Gentoo Media Inc. released a trading update for the fourth quarter of 2025, provides preliminary financial guidance for the full year 2026, and announces its intention to initiate a refinancing of its outstanding bonds and credit facility.

Q4 and Full-Year 2025 Performance (unaudited)

Gentoo Media reports improved operating performance and cash generation in the fourth quarter of 2025. Revenues for the quarter amounted to EUR 25.5 million and adjusted EBITDA amounted to 14.9 million, with an operating cash flow of EUR 10.4 million. Full year 2025 revenue ended at EUR 98.6 million, adjusted EBITDA at EUR 41.4 million and operating cash flow at EUR 33.0 million.

January 2026 trading is in line with budget and management expectations, supporting continued confidence in the Company’s financial outlook.

Refinancing of Bonds and Credit Facility

Building on the improved financial performance and a strengthened operational and financial foundation, Gentoo Media has mandated ABG Sundal Collier and Pareto Securities to arrange a series of fixed income investor meetings commencing in February 2026.

Subject to market conditions, the Company intends to issue a 3-year senior secured floating rate bond in an aggregate nominal amount of EUR 120 million, split between a SEK and a EUR tranche (the “New Bonds”). Proceeds are intended to refinance the Company’s existing EUR and SEK bonds (ISIN NO0013024018 and ISIN NO0013095687) and its credit facility. Upon completion, the New Bonds will constitute the Company’s principal debt.

Preliminary Guidance for 2026

In extension of this announcement, Gentoo Media presents a preliminary outlook for the financial year 2026. Given the timing of this communication, the guidance is provided within a wider range and should be considered an early indication of management’s current expectations for the year.

Revenue: EUR 105-115 million
Adjusted EBITDA: EUR 49-54 million
Cash from operations: EUR 37-41 million
Cash outflow related to deferred payments: EUR 3.5 million

Operational and Financial Outlook

Gentoo Media enters 2026 with record-high end-user deposit volumes at partner operators exceeding EUR 200 million in Q4 2025, which underpin operator revenue and hence Gentoo Media’s performance-based revenue streams. The business operates on a structurally optimised and disciplined cost base, providing a stable platform for continued margin expansion and stronger cash flow generation year-over-year, supported by limited committed investments.

In 2025, the Group incurred approximately EUR 5 million in non-recurring costs related to operational improvement initiatives and restructuring, alongside approximately EUR 38 million in cash outflows related to M&A and corporate split activities from prior years. In 2026 non-recurring costs are expected to decrease materially, with remaining deferred M&A-related payments of approximately EUR 3.5 million.

The 2026 financial year is also expected to benefit from a significantly more favourable global sporting calendar, including the FIFA World Cup, which historically drives higher user activity and commercial performance compared to 2025 that had no major international sports events.

Gentoo Media will publish its full Q4 2025 Interim Report on 24 February 2026, as planned.

ReferOn, the next-gen affiliate management platform, has been named on the EGR Europe Awards 2026 shortlist in the “European Corporate Services Supplier” category, recognising the platform’s solutions that help real operators with their operations and growth.

Continuing 2025’s Momentum

The nomination reflects a busy 2025 for ReferOn, one that was highlighted by significant product updates, rapid growth, and an ascent to becoming one of the most recognised affiliate management platforms in the industry.

Going into the new year, the ReferOn team has ambitious plans to accelerate this positive momentum by scaling alongside its growing partner base with advancements to its product vision around clarity, transparency, and ease of use. The EGR Europe Awards 2026 marks a pivotal start to 2026, and an award win demonstrates that the platform’s direction truly resonates with operators and affiliate managers worldwide.

Refie’s Human Impact

Refie, the platform’s human layer, transcends a mere surface-level companion. It hops around dashboards and workflows, providing relevant assistance, such as fixing reward logic, identifying anomalies, and making suggestions to the user.

In 2026, ReferOn plans to enhance Refie’s functionality with advanced platform gamification, engaging users and transforming how affiliate managers interact with their day-to-day operations. These developments will pave the way for personalised, smart intelligence on the platform and set an industry standard for affiliate tech.

Alex Bukin, General Manager, commented on the nomination and plans for 2026, “ReferOn made great strides in the past year, with major product developments, key recruitments, and a rapidly growing partner base. With this growth, our expectations have risen, and we want to establish ourselves as a platform that accelerates affiliate tech across the board. Being nominated for the ‘European Corporate Services Supplier’ category solidifies our ambition and is a meaningful start to our new year. With Refie driving more innovation, we look forward to driving our goal of transparency, clarity, and customer-facing features even further.”