We're looking to hire a new affiliate manager.
I have no experience.
You're hired.
I know this board gives advice to new webmasters, but I don't think we've ever done the same with an affiliate manager.
Personally, I think they should be done no more than once a week & each should contain actual information - new site released, new promo material, etc. No fluff, no jokes (

), no bullshit - just important news about the program. If you have no important news, don't send out the newsletter.
And put a link to the program in there - I can't tell you how many newsletters I get that have NO link to the program & then I have to go hunt around for the URL or mis-type the domain.