Activation rates tank if the API's broken - been there. Couple of blockers I've seen kill integrations dead:
First, region mismatch. If your account's on .com but you're hitting the EU endpoint, those keys will look invalid every time. That's a straight path to zero data flow and a stalled onboarding funnel.
Second, make damn sure you're pulling the access key ID and secret access key from IAM, not some account ID from a random page. And if the plugin asks for a "tag" or associate ID - that's not your keys. different thing entirely. Mixing them up means your activation metric stays flat.
If the scratchpad still fails with fresh keys, don't waste time regenerating on the same user. Spin up a brand new IAM user with programmatic access, attach the exact policy from their docs, and test there. Same-user re-gen often doesn't clear weird permission ghosts. That's the fastest path to getting those sign-ups flowing.