Channels, channels and more channels. Find where your target customer lives – and then do deals with those channels to integrate your product/service/offer directly in that channel. For example, we just announced a deal with AutoTrader http://blog.communitylend.com/2010/08/17/communitylend-newsletter-august-2010/ – where we get to match our loan offer with their sales offer. They have 5M uniques on their site in Canada.
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If you choose to go the "social media" route, this advice is still spot on. There is no better advice than finding out where you customers, or potential customers, live online and targeting that space. We live in a time where we can find so many details and so many pockets of influence in the online community...put the time in, build up some trust and "work the room".

