When is it beneficial to use affiliate programs?

I see many companies offering commission-based programs (affiliates) to increase their visibility and income.

I have experience from both sides (both as a company that offered affiliates and as a person who had some code).

I have observed 2 main things:

✅ It is more worthwhile to create an affiliate program when you are better known (if you are a smaller company, it is harder for you to find affiliate partners – few people want to stand behind a relatively unknown brand).

✅ Reach out to people who are already using your product – they will talk about it more enthusiastically and naturally. If you pay a big creator and they don't actively use your product, you are simply paying for an expensive influencer post – that's where it ends.

What are your experiences and learnings from affiliates?

[Please do not confuse this with the ambassador program.]