Perception vs. Reality: Affiliate Marketing Has Grown Up

"Why would we spend that much on an end-of-funnel channel?"

It’s a line Sinead Lambert, Head of Partnerships at Proton AG, hears far too often. But it's rooted in outdated assumptions. In reality, today’s affiliate programs span the full funnel. Affiliates aren’t just flipping voucher codes – they’re writing technical explainers, driving product reviews, building brand credibility, and influencing conversions weeks before the final sale.

Affiliate publishers are SEO machines. They rank for your most valuable terms, often outperforming your own site. Trying to compete against them instead of partnering is a losing battle. And as Julia Stent, Strategy Advisor and Non-Exec at J Stent Ltd, pointed out. Affiliate marketing still has an image problem.

Despite being one of the most cost-effective and measurable digital channels, affiliate marketing is still misrepresented in many boardrooms. Often pigeonholed as a "last-click" or "discount-led" tactic, it's not uncommon for affiliate managers to be left out of brand-building conversations or budget planning entirely.

But as the panel at Affilifest Margate made clear, the narrative is shifting. And if you work in affiliate or partnership marketing, now's the time to accelerate that shift.

Let’s break down what was discussed and explore how you can reframe affiliate marketing as a strategic growth driver – not a bolt-on.

Takeaway: Internal education is crucial. CMOs and cross-functional teams need to understand the modern affiliate landscape: one built on influence, trust, and full-funnel collaboration.

From Discount Codes to Performance Partnerships

Too often, affiliates are seen as a cost to control rather than a channel to grow. But Sophie Halley, Head of Account Management UK at Atolls, and Linda O'Connell, Senior Vice President at CJ, stressed the importance of moving from transactional relationships to true performance partnerships.

What does that look like?

• SEO teams working with affiliate publishers, not against them.

• Editorial teams co-creating branded content.

• Affiliates contributing to product feedback loops.

• Marketers treating affiliates as expert consultants – because they are.

Proton's transformation is a case in point. By bringing their top affiliates into HQ and connecting them with engineers and product teams, Sinead helped shift perception from "cheap traffic" to "trusted advisors." That led to a 1,000% increase in affiliate investment YOY.

Affiliate marketing strategy tip: Bring affiliates behind the curtain. Share roadmaps, offer product demos, and invite them to planning meetings. The deeper the integration, the bigger the upside.

The Data Dilemma: Beyond Last Click Attribution

The panel agreed: measurement remains a pain point.

Many brands still lean on last-click attribution, which undervalues upper-funnel influence and deters investment in content, influencer, and niche partners. Worse, publisher-side data often doesn’t match what advertisers can see.

Tools like CJ’s Publisher Journey Analysis are helping close the gap, but there’s still work to do.

Sophie gave a striking example: a deal on onions (!) got over 500,000 impressions and 3,000 votes on their platform. But the affiliate payout was negligible due to poor conversion rates. Still, the brand exposure was massive. That kind of brand lift matters – even if it doesn’t show up in the CPA model.

Affiliate manager tip: Don’t rely on CPA alone. Where possible, blend in CPC, CPM, and fixed-fee campaigns to reward influence as well as conversions.

The Fake Voucher Code Problem (And Who’s Responsible)

Another hot topic was fake or invalid voucher codes. It’s a trust-killer for consumers and a reputation drag for the channel.

Sophie's team invests heavily in human editors and tech to monitor codes, but she made it clear: this is a shared responsibility. Brands can’t just expect perfection without providing tools, transparency, and feedback loops.

Solutions are emerging:

• Sub-network audits (the APMA is leading research here)

• Code validation tools from platforms like Intent.ly and Upsellit

• Publisher-led guarantees like VoucherCodes.co.uk’s code accuracy promise

Retail affiliate insight: Don’t blacklist the entire voucher space. Instead, work closely with trusted partners, invest in monitoring tools, and hold everyone – including sub-networks – to account.

Selling the Story Internally: CMOs Want Vision, Not Just ROAS

"Here’s a placement. It costs £5,000."

That kind of blunt pitch doesn’t land anymore.

As Julia pointed out, CMOs are marketers. They want stories. They want to know who your audience is, what inspires them to buy, and why your affiliate channel is uniquely positioned to drive action.

Make your case:

• Use ROI data (affiliate: 13:1 vs. Google: ~8:1)

• Layer in audience insights, top content placements, and share of voice

• Show incremental impact (not just tracked sales but influenced ones too)

• Include testimonials from affiliates and customers

Performance partnership tip: Pitch like a marketer, not a media planner. The better your narrative, the more budget you’ll unlock.

Actionable Takeaways to Elevate Affiliate Credibility

The panel closed with practical advice for anyone championing affiliate marketing inside their org:

• Champion affiliate marketing internally. Don’t wait to be invited. Get yourself into brand campaigns, awareness strategies, and go-to-market plans.

• Use multiple KPIs. Look beyond CPA. Include engagement, share of voice, content quality, cancellation rates, etc.

• Educate senior stakeholders. Present comparative ROI data and reposition affiliate as a driver of performance and brand.

• Experiment with commercial models. Blend CPA with CPM, CPC, tenancy fees to reward different stages of the funnel.

• Join forces industry-wide. Bodies like the APMA are fighting to raise the industry’s profile – but they need more voices.

Ready to give your affiliate program the respect it deserves?

Share this article with your team, or come join us at Affilifest North this September.