Here in Canada, economy is not the strongest but we are nowhere near the US crisis.
I really believe in traditional marketing. This is what I am working on right now:
1) Writing my own custom .NET marketing module that sends emails and records all activity on the site generated from the email link in the email.
2) Sending out targeted emails using this tool to a specific industry (real estate, etc)
3) Those most interested will be visible from the tracking report on what they viewed and how long from my site
4) I will then take those interested parties and follow up with a mailed marketing kit
5) I will then follow that up with a cold call if they continue to visit the website without requesting a quote or contact me after recieving the media kit.
By focusing on one sector at a time, it lends itself to a bit of a streamlined work load by focusing on one type market, and custom programming can likely be reused while its fresh.
Plus, by actively monitoring and pursuing those only most interested, I can keep marketing costs low, and get a better conversion rate.
Right now, referral client business is too busy to allow me to even finish my own damn site pages let alone get that piece done.