Affiliate Marketing Insights: Stefan Muehlbauer on Emerging Markets & Partnerships

We sat down with Stefan Muehlbauer – affiliate management consultant, author, and one of the most recognized voices in the industry – to talk about what most advertisers get wrong in exotic GEOs, why long-term partnerships are rare, and what separates teams that succeed from those that don’t. Here’s what he told us.

The Localization Trap: Why “Just Translate It” Doesn’t Work

INB.bio: We’re actively working in Algeria, Tunisia, Rwanda – markets where local insights make all the difference. From your experience, where do companies usually miss the mark?

Stefan: “I’m not deep in those specific markets, but from the ones I know well, like LATAM, it’s often dialects. Spanish in Mexico is different from Spanish in Argentina or Colombia. You can’t just translate and call it localized. You need to consult someone local who understands the nuances before you enter a region.“

INB.bio: We’ve seen cases where a small tweak in tone of voice or phrasing in a call center script boosted conversion rates by 15-20%. Have you encountered similar ‘small change, big impact’ scenarios?

Stefan: “Yes, constantly. But I wouldn’t call these changes ‘small.’ They seem minor on the surface, but it’s the entire package that has to be adjusted to the specific market. Language, visuals, delivery expectations, payment preferences, it all connects. Miss one piece and the whole funnel breaks.”

This is exactly what we’ve experienced at INB.bio. You can’t run a Tunisia campaign with creative designed for Europe and expect it to convert. Local teams catch details that remote teams miss, objections during confirmation calls, cultural triggers that drive action, even which colors resonate better in specific markets.

INB.bio: Different GEOs require completely different sales scenarios – delivery speed, response times, local triggers. How important is operational execution in these markets?

Stefan: “It’s everything. You can have the best offer, but if your operational execution fails: slow delivery, bad call center interactions, wrong payment methods, you’ve already lost. Emerging markets don’t forgive sloppy operations.”

Why Transparency Is Still Rare And Why That’s a Problem

INB.bio: Our experience shows that affiliates value transparent metrics, clear approvals, and understandable funnels. Yet many companies still struggle with this basic transparency. Why?

Stefan: “Often it’s fear. Companies worry that if affiliates see too much data, they’ll use it to negotiate better payouts. And yes, the more you know, the better you can negotiate. But also, the more you know, the better traffic you can run. Transparency helps everyone.

Additionally, it’s often a technical issue. Some companies just don’t have the infrastructure to provide real-time, granular data. So they default to opacity instead of investing in better systems.”

This resonates with how we built INB.bio. We give partners access to the same dashboards we use internally. Approval rates by traffic source. Conversion metrics. Refund patterns. Everything that affects margins. Because we’d rather have informed partners who optimize intelligently than partners guessing in the dark and blaming us when things don’t work.

The Long-Term Partnership Problem

INB.bio: We invest heavily in long-term partnerships, we’re not chasing quick wins. But this approach is still rare in the industry. Why do you think that is?

Stefan: “It’s usually a management problem. Affiliate managers are pressured to bring in new partners constantly instead of focusing on scaling existing ones. But the referrals you get from happy, long-term partners are worth way more than quick revenue from new signups.

Short-term thinking kills growth. You spend all your resources acquiring, never nurturing. And then you wonder why retention is terrible.”

The Most Underestimated Skill for Affiliate Managers

INB.bio: We’re often asked about AM training for nutra. As a consultant who trains AMs, which skills do you think are most underestimated?

Stefan: “Being an eager learner. This industry moves fast. If you don’t learn constantly and rely on old connections and past successes, you’ll have a problem eventually.

The most typical example? Tracking. It’s shocking how many affiliate managers never learned how to set up tracking properly. They rely on developers or blame tech when something breaks, but they don’t actually understand how it works. That’s a fundamental gap.”

This is why we prioritize internal training at INB.bio. Our affiliate managers understand the full funnel. They know how tracking works, what affects approval rates, how to read performance data, and how to communicate optimization strategies clearly.

Because when an affiliate asks why conversions dropped in a specific GEO, “I’ll check with the tech team” isn’t a professional answer.

When Expectations Meet Reality And Reality Wins

INB.bio: We’ve had cases where a GEO looked simple from the outside, but the market had its own rules. Have you experienced situations where expectations and reality completely diverged?

Stefan: “Nearly always! 🤣 Take landing pages and banners. Often the ones the team considers ‘best’ perform horribly, and some very basic, almost ugly ones that barely made it to A/B testing outshine everything.

You have to test without ego. What you think will work doesn’t matter. What the data says works, that’s what matters.”

INB.bio: We see affiliates transfer EU/US approaches into exotic markets, and it breaks everything. Why is this pattern so persistent?

Stefan: “People do what already worked somewhere else. And that’s the right starting point, test what you know. But you need to move fast and adjust.

Some things you should get right from the start. For example, the people in your promo materials. You can’t promote offers in Africa with redheads from Ireland on the creative. It’s common sense, but it happens all the time.”

That’s why we have local teams in every market to help adapt creatives. They know better what works visually and are quicker to spot tonal errors that can kill conversion.

Premium Products and Market Maturity

INB.bio: We focus heavily on product quality – checking delivery, call centers, response speed. How do you evaluate the impact of high-quality products on long-term profitability in nutra?

Stefan: “Quality affects everything. Customer satisfaction drives repeat purchases, reduces refunds, and improves approval rates. In emerging markets especially, people want to reward themselves with something that has outstanding quality.

These markets are maturing. Income levels are rising. Very often, regions that were poor enjoy spending money more than tier-1 markets where income is high but stagnant. They’re experiencing growth, and they want premium experiences.”

INB.bio: We’ve noticed premium nutra products performing better in certain GEOs. Do you agree the market is maturing, or is this still niche?

Stefan: “The market is absolutely maturing. As income grows, so does demand for quality. This isn’t a niche story anymore, it’s a trend that smart advertisers are already capitalizing on.”

This aligns with what we’re seeing in markets like Nigeria or Morocco. Customers want effective solutions backed by quality ingredients and reliable delivery. When we invest in premium formulations, conversion rates reflect it.

What Separates Teams That Succeed in Exotic GEOs

INB.bio: You’ve worked with many networks. When you look at teams that really succeed in exotic GEOs, what do they have in common?

Stefan: “Three things:

1. Specialists who understand these markets. Not people managing from a distance, actual experts who know the nuances.
2. Affiliate managers with local connections. They don’t have to be from the region or even speak the language, but they need strong relationships in that market.
3. A heavy focus on finding local payment options and catching trends fast. You can’t just offer credit cards and hope it works. You need mobile money, bank transfers, cash on delivery, whatever fits the market.”

This is exactly how we operate. We have local teams: call centers, logistics coordinators, support specialists, who live in these markets and understand them deeply.

When a new payment method gains traction, we integrate it immediately. When customer behavior shifts, we adjust funnels in real time. That’s what operational execution looks like at scale.

Where the Industry Is Heading

INB.bio: Looking at nutra in exotic GEOs, it seems the market is just getting started. As a consultant, which directions do you consider most promising?

Stefan: “Emerging markets are absolutely where the growth is. Tier-1 is saturated, compliance is suffocating, and margins are razor-thin. Meanwhile, you have entire regions with rising incomes, affordable traffic, and audiences actively searching for solutions.

The opportunity is massive. But you can’t approach it casually. You need infrastructure, local expertise, and patience to build properly.”

INB.bio: We’re actively reshaping our processes for a more personalized experience for affiliates – tailored analytics, personal touches, real partnership. Do you think demand for this ‘personalized approach’ will continue to grow?

Stefan: “Absolutely. Affiliates are tired of being treated like transaction IDs. The programs that invest in real relationships, that provide actual support and transparency, those are the ones that will dominate long-term.”

Final Thoughts

Stefan’s insights confirm what we’ve learned building INB.bio: emerging markets are strategic opportunities that reward preparation, respect, and professionalism.

The advertisers who succeed are the ones who:

• Invest in local infrastructure instead of managing remotely
• Treat localization as a complete operational shift, not just translation
• Build long-term partnerships instead of chasing quick revenue
• Prioritize quality products that justify customer trust
• Hire affiliate managers who are eager learners, not order-takers

If you’re serious about affiliate marketing, whether as an AM, a media buyer, or a network operator, Stefan’s book The Affiliate Manager starter kit is essential reading. And if you’re looking for opportunities in this space, check out AffJobs.com. He also sends out on a regular basis, discount codes for Tools, Conference Tickets and advice on his Newsletter. 

P.S. Special thanks to Stefan Muehlbauer for sharing his insights.!