SEO

Affiliate Marketing Is Not Dead. The Affiliate Content Site Is.

The updates and AI answers took the click, which is all an affiliate content site ever sold. A partner program is paid for a conversion.

Author:
Vlad Shvets
Contributors
Vlad Shvets
Date:
September 20, 2026

Affiliate marketing is not dead. The affiliate content site is, and the two keep getting the same obituary all year.

The difference between them is what each one gets paid for. An affiliate content site earns by manufacturing search traffic to comparison pages, then renting out the click at the end of it.

A partner program earns when somebody it sent you arrives and converts inside your product. The same partner can be paid either way, which is why this is a question about the contract and not about who signed it.

The update took the click. The answer took the click. Neither one could touch the conversion.

Google moved a great deal of that search traffic to Reddit and to large publishers in 2023, and AI engines now answer the comparison question inside the answer. The conversion was never theirs to take.

This holds for recurring-revenue software with a program somebody in your building owns.
It does not hold for consumer coupon and deal sites, which are a different business with different economics.
It is not a promise that your partner volume is safe: when an engine recommends a vendor directly, fewer buyers pass through anybody’s partners at all.

One of these structures can still be measured after the click goes. The other one cannot.

Read this knowing who wrote it. Empact Partners runs Search Everywhere Optimization as one of its six workstreams, and getting a partner’s product named on pages that already rank is work we sell.

That makes this a recommendation with a stake in it. The first move in it is an audit you run yourself in an afternoon, and if that audit comes back clean, you do not need us.

Every Serious Version of This Argument Says the Content Site Is Finished

The strongest case against me is the one our own team has been making internally since 2023. A content library built mostly on comparison and versus pages is fragile.

We have watched one that had built substantial monthly traffic that way lose the large majority of it across successive core updates. It was not a partner of ours and it was not a careless operation.

It was a site that kept doing the thing the format rewarded, right up until the format stopped being rewarded.

Vlad Shvets
Founder @ Empact Partners
We stopped treating that as a bad quarter in 2023 and started treating it as a structural change, and everything we have built since assumes it. A model restates public comparison content freely and cites it without sending anybody anywhere. That is a direct threat to any business that monetizes traffic it generates itself, whether the money arrives as ads, as commission, or as leads the blog collects.

So on the sites, the objection is correct, and I am not going to argue with it. If your partner roster is mostly independent comparison blogs, expect that roster to shrink, and expect the survivors to be sitting inside large publishers.

What nobody can tell you is how much of your program’s revenue those sites represent. I cannot, and neither can whoever quotes you a percentage.

The loudest numbers in this argument come from a network defending its own category and from tool vendors writing about their own market, which is several interested parties and no measurement.

Nobody selling you a number here is disinterested, and that includes us.

The Payment Structure Is What Died, and Somebody Chose It

Not every partnership has the same shape. Ours come in four, and the shape is a decision somebody makes at the start.

Paid on clicks. The partner sells you traffic and the metric is a session.
Paid on affiliate terms. A commission on something, and which something is the argument.
Paid for sponsored content. A placement, priced as a placement.
Built around co-created content with the partner’s own experts, where the asset outlives the campaign.

Most of the damage in this business comes from treating that shape as something you inherit rather than something you chose.

We have sat on the publisher side of that decision. A vendor deal promoted their premium tier, the content drove clicks, and very few of those clicks converted.

When the vendor reviewed it afterwards, nobody had ever agreed which conversions counted or which markets they had to come from, so it got measured against criteria invented after the fact.

Vlad Shvets
Founder @ Empact Partners
What I wrote down at the time was to define the metric and the audience before anything goes live. It is the one lesson from that period that has survived everything search has done since.

That deal did not fail because the content was weak. It failed because nobody had named what was being bought, so the click was the only thing left to count, and the click was worth less than both sides had assumed.

The affiliate relationships that died in 2023 died of that same thing, with an algorithm arriving later to take the blame.

What operators pay for now

They arrived at the fix on their own. When somebody describes what they pay for today, it is an event inside their own funnel, named before the partnership starts.

A paid subscription.
An application they approved.
A trial a human asked for.
A meeting that happened.

Spam stops paying at that point, because every one of those events needs a payment to clear or a person inside the company to approve it.

What they say still goes wrong

The failure they describe is not fraud in the signup, it is arbitrage at the top of the funnel, and it survives an outcome deal because the buyer does convert.

“How are you combating spammers? I closed down mine because people were just running ads with the aff links, and we just spent more time figuring out if we should pay xyz affiliate than actually having a proper aff program. So just shut it down, was a pain tbh” — u/Present_Fish_9178, r/SaaS, Apr 2026

Told that commissions only pay on a real payment, the same operator names the part that is still not solved.

“Right but they can still run ads for your branded keywords. That’s what happened to us.” — u/Present_Fish_9178, r/SaaS, Apr 2026

A partner bidding on your own brand name and invoicing for demand you already created is the one failure an outcome deal does not fix by itself. It is the reason a program is a workstream rather than a page.

The dealPaid for trafficPaid for a named outcome
What the partner sells youA click on a page they builtA buyer who converts in your product
When the metric gets agreedAfter the first invoiceBefore launch
What a core update takesThe traffic the page depended onNothing directly
What an AI answer takesThe click the page was sellingSome volume, never the measure
What you see in your analyticsSessions and a referrerPayments, trials, applications
What fraud looks likeBrand bidding, manufactured signupsManufactured signups earn nothing; brand bidding still needs policing

The Page the Affiliate Published On Is the Page the Engines Quote

The comparison page did not go anywhere when its traffic did. It changed hands.

We measure AI search with Qvery, which is our own sister company, so weigh the recommendation accordingly. Qvery tracks what ChatGPT and Google AI Mode cite when buyers ask their category questions, and it can classify about 12% of those citations by title pattern.

Inside that set, listicles are 45.8% and reviews and comparisons another 19.4%, which puts the ranked list and the comparison page close to two thirds of every citation we can put a name to.

Bar chart of AI engine citations by content type, showing listicles at 45.8% of the classified set, reviews and comparisons at 19.4%, discussion at 14.5%, reference at about 13%, how-to guides at 6% and news at 0.9%.
The ranked list is the format both engines quote most, and the gap to every other classifiable type is wide.

So the format did not lose its value in 2023. It lost its business model.

Engines quote that format more than any other we can classify, because a ranked list is the answer they are assembling, already assembled. What changed is that you can no longer own the surface by building one yourself. You get named on the ones that already exist.

Existing Article Outreach is our own method inside that workstream. We take the software listicles that already rank and already get cited, and work to get a partner listed in them.

We bring the page list, and the outreach.
The partner supplies a login and one person who will take an author’s questions.
What lands is placements on pages that were already being quoted.
How long is months rather than weeks, and we say that before anyone signs anything.

A placement does not pay you in clicks either. It buys presence on a page your buyer reads and an engine quotes, and you watch it the way you watch a mention, by whether your name is in the answer when somebody asks.

That is the same trade your partner program is making. You are paying for a buyer who arrives, rather than for the traffic that carried them.

You already do half of this work

The standard advice for recruiting affiliates arrives, unprompted, in the same words we use for outreach. This is a founder describing the motion from first principles, with nothing to sell anybody.

“For finding affiliates, the comparison bloggers angle is your best bet. Search ‘best [your category] tools’ or ‘[competitor name] alternatives’ and reach out to whoever wrote those posts. They already have the traffic and the intent, they just need a reason to add you.” — u/side-labs, r/SaaS, Apr 2026
Vlad Shvets
Founder @ Empact Partners
Same motion, same page list. The only thing that differs is what you pay for at the end of it, and the whole argument above arrives here from somebody who has never heard of us.

We have been working in this market for years. wecantrack sells affiliate tracking, a product that exists because somebody has to prove which click became a payment.

What we ran for them was content and off-page work rather than their partner program. They came to us at roughly 490 organic visits a month, and three years later that was more than 12K, carried by expert-led articles and by link magnets that earned their own backlinks.

Keep the Program. Rewrite Every Deal That Pays for a Click.

The audit is dull and it takes an afternoon. Open every partner and affiliate agreement you have and ask two questions of each one.

What does this deal pay for? A deal that pays for a click is buying you traffic, whoever agreed it and whenever they did. A deal that pays on a payment, a trial somebody asked for, or an application you approved is buying you a buyer.
When was that agreed? A metric agreed before launch is one both sides can still read the same way two years later. A metric that arrived after the first invoice never gets settled, it gets negotiated, usually by whoever is angrier.

Keep the deals that pay when something happens inside your product, because they are worth more than your CFO thinks.

Rewrite the rest around a number you can see in your own analytics, and put that number in writing before the next piece of content goes live. A partner who will not move onto those terms has just told you what they were selling.

Vlad Shvets
Founder @ Empact Partners
Then the conversation with your CFO changes. You are not defending a channel that three blog posts have declared dead. You are defending a set of deals, each of which costs you nothing until a buyer you did not have becomes a buyer you do. That is a much shorter meeting.

Do the audit before you cut anything. If every deal already pays for something that happens inside your product, you have nothing to buy from us or from anyone else, and that is the likeliest good outcome here.

If your partner program needs this rebuild, or you would like more of your category’s answers to name you, book a meeting with me and let us see if we could work together.

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