A fundamental distinction in affiliate publisher value: demand creation publishers (content publishers — bloggers, YouTubers, review sites) introduce buyers to products they weren't previously considering, generating new purchase intent; demand capture publishers (coupon and cashback publishers) intercept buyers who have already decided to purchase and are seeking the best price before completing their transaction. Demand creation generates true incrementality — the purchase would not have happened without the publisher's content. Demand capture has lower incrementality — the purchase would often have happened regardless; the publisher is optimizing the price at which it occurs. A healthy affiliate program requires both: demand creation builds the top of the funnel and long-term brand value; demand capture converts the buyers demand creation generates. Common diagnostic: if coupon + cashback publishers exceed 60% of affiliate GMV, the program is predominantly demand-capture; invest in content publisher recruitment to shift the mix toward demand creation.
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