Direct Advertiser or Partner Program: Which is More Profitable for Arbitrage?

The world of affiliate marketing is divided into two key categories of partners: direct advertisers and partner programs (PP). Each approach has its own advantages and disadvantages, and the choice of “who to work with” directly impacts your profit, stability, and even mental well-being. In this article, we will explore which option is more beneficial for arbitrageurs—direct advertisers or PP — and how to avoid common mistakes.

Who is a Direct Advertiser?

A direct advertiser is a company that sells a product or service and works directly with webmasters, bypassing affiliate networks. This could be a dietary supplement brand, software manufacturer, e-commerce, or even a fintech product. They are willing to pay for leads or sales and do not require intermediaries.

Examples of direct advertisers include:

— Medical brands that create their own call centers

— Financial services with CRM analytics

— Large information businesses operating on a CPA model

What is a Partner Program?

A partner program acts as an intermediary between the advertiser and the webmaster. It gathers offers from many advertisers and provides access to these offers for arbitrageurs, along with tracking, payments, support, materials, analytics, and more.

Examples of PPs include:

— Networks working in the health, e-commerce, and gambling sectors

— CPA networks with dozens and hundreds of offers

— PPs tied to specific niches (for example, only dietary supplements or only dating)

Arguments for Direct Advertisers

1. Maximum Income: A direct advertiser does not share profits with the network, meaning they can offer the highest rates. This is particularly important at scale; even an extra $0.50 per lead can significantly affect your profitability.

2. Transparency and Control: With direct advertisers, you often gain access to CRM, complete analytics on orders, verifications, and cancellations. You can quickly test combinations and manage bids.

3. Flexibility and Influence: You have the chance to directly influence processes: suggest new creatives, request changes to operator scripts, agree on ad formats, or propose bonuses to the audience. This is only possible with direct contact.

4. Exclusivity and Loyalty: Many direct advertisers are open to working with a limited pool of webmasters and offer exclusive terms. If you demonstrate results, you will be treated as a partner rather than just “one of many.”

When Is It More Advantageous to Work with a PP?

1. Convenient Start: It is much easier for a newcomer to enter an affiliate program:

   — There are ready-made offers

   — Minimal communication required

   — Numerous template creatives and promotions available

   — Support during the start

   You don’t need to negotiate, register as a business entity, sign contracts, or get verified. Everything works “out of the box.”

2. Variety of Offers: In PPs, you can easily switch from one offer to another without losing time on searching for contacts or agreements. This is convenient for testing, scaling, or seasonal combinations.

3. Guarantees and Payments: Good APs operate on a schedule:

   — Regular payments

   — Possibility of cashouts

   — Support in disputes with advertisers

   — Anti-fraud measures and protection for webmasters

   Additionally, many affiliate programs reduce risks—if an order fails due to an error on the advertiser’s part, you may still receive payment.

Where Are the Risks Hidden?

Direct Advertiser:

You might encounter «grey» players or unstable companies. There are no guarantees against being “left high and dry” on the first significant approval. They often only work on a prepayment basis or with delayed payments.

PP:

Lower rates that have already gone through an intermediary. Sometimes there is no access to the CRM. There is a risk that the offer might be taken down at any moment or closed without notice. 

What to Choose: Direct Advertiser or PP?

It all depends on your level, goals, and strategy.

✅ If you’re a beginner — it’s better to start with a PP. It’s easier to get started, safer to test, and you won’t spend resources on communication.

✅ If you are a confident webmaster with good turnover — working directly will give you more flexibility, profit, and control.

✅ The ideal option: work through a PP that has its own direct offers. This allows you to gain the benefits of both approaches — the stability of the partner program + high rates and access to the advertiser’s CRM.

Case Studies: How Does This Work in Practice?

📌 Example 1: A Newbie in Health

A webmaster joined a PP, received an offer, creatives, and support. They launched the campaign, received payments, and a bonus for their first approval. Within a few months, they reached a stable ROI of 30%.

📌 Example 2: An Experienced Arbitrageur

They worked directly with a product and received $10 per lead instead of $7 in the PP. However, they encountered delayed payments and instability at higher volumes. They returned to the affiliate program with the same offer but with guaranteed same-day payments—and continued their work smoothly.

LEMONAD: Where PP = Direct Advertiser

If you are looking for the «golden mean» — meet LEMONAD. This is a CPA network with direct offers, its own call centers, a promotional department, CRM analytics, and same-day payments.

📍 What LEMONAD Offers:

— Over 90 GEOs

— Unique offers not available in other networks

— Complete order control (access to CRM)

— Own call centers = high approval rates

— Videos, creatives, landing pages — any promotional content made to order

— Bonuses for newcomers, giveaways, and promotions every month

— Quick and transparent same-day payments

And most importantly—you will be working with an experienced team that has been an advertiser for over 10 years and knows how to create products that convert.

Conclusion

There is no universal answer to the question: “Which is better — a direct advertiser or a partner program?” It depends on your current stage, goals, and acceptable level of risk. 

But if you want safety, good rates, and proper analytics — look for a hybrid format: an affiliate program that operates like a direct advertiser. LEMONAD is exactly such an option.