An older post, but I thought I would add my two cents since I am in this industry and have some experience here.
Affordable is really relative to the results you get and what you do with them. If you only pay $5 and get 1000 new potential customers to your business but don't sell them anything, is it really affordable? How about if you spend $500 get 10 new clients but each one spends $1000? What is affordable to you may not be to someone else.
So the question is really "Effective Online Advertising that fits within my budget?"
The website you linked to is an online list. Its great if customer know that's where they need to go to find information. But if customers don't know to go there, then its just a place for your name and logo. If it doesn't cost you anything, then go for it. If it costs something, then make sure your potential customers are going there.
There are better solutions that online lists.
SEO (search engine optimization) is probably the one that most business focus on first. Making their website resonate the search engines so they show up on the front page. SEO operators focus on keywords, layout, how your images tie into search results. They are really just optimizing your website for Google and Bing. The problem is that this optimization can take the personality out of a website very quickly if over used.
So if not SEO, what then? Content. I am a strong believer that if you provide something for your customer to come and look at, they will continue to come back. Use Best Buy as an example. People shop there an average of 4.5 times a month! They don't buy every time but they do come and check out all the new toys. Best Buy's content is the products they are selling. I think a good business or website needs to find a way to replicate Best Buy's product content or do something similar to Starbucks environment content.
But what you asked about was online advertising.
As mentioned above, Facebook, LinkedIn, Twitter are all great ways to network with potential clients about your product. They key to these services is to understand they are just an amped up version of word of mouth advertising. It takes time to build a good campaign on these networks, but once you do, you will have a targeted group to work with. And if you don't have an exciting product....well at least your friends will be with you. I would start a Facebook page for the business and then update it with content that your customers want to see. Give it some time and nurture it and you may see results.
Twitter - not a fan personally but if your business really uses that continual one on one relationship then give it a try.
Coupon/Member Online Advertising
Service like Groupon off another type of advertising that can bring traffic to your website or business, but at the cost of sharing margin with them in return for a customer. The downfall I see with Groupon, and others like them, is that you are training the customer to expect a discount for your service. You have to be careful that you don't diminish the value of your product too soon. Time will tell on these services.
Facebook just launched places with competes with companies like Foursquare and Gowalla. This is taking the social network and adding to it. I think there is some real value to brick and mortar businesses, but it's not a solution in itself. It's about the content you are offering and whether your customers want to let others know they were there.
PPC (pay per click) advertising is another way to create an affordable campaign, but costs have risen depending on what key words you are targeting. Ten years ago, you could pay 5 cents per click, now you are most likely going to spend $1.00 or more. You can do PPC with Google and capture the customer who may be shopping for your product. Facebook and Linked in offer PPC also, which you can target to some of the demographics they categorize their users by when they sign up. Each offers the ability to target a majority of the population. I would recommend both be part of your arsenal if the cost per click and your prospect to customer conversion rate justifies it.
I represent a company that offers PPC advertising on Targeted Online Display ad, so you could also look at a campaign that targets customers geographically when they are browsing the internet. Again, all the same issues with Facebook, Google and other PPC so just another choice in the arsenal. Which is the best PPC solution? That depends on your business.
But here is the real question: Once you find that affordable online advertising, what are you going to do with the customers you capture? I can place an Online ad nationally or locally for as little as $5 to $10 a day with no contracts and generate around 2000 ad views and 20 clicks. But that's just more traffic getting to your website. Are you ready for it ?
I work with many clients who mistakenly think that "If you build it, they will come". That is true in PPC, but you also have to add "When they get here, how will I capture them as a customer". How you get the traffic isn't as important as what you are going to do with it. No matter what form of advertising, online or offline, you have to be prepared to capture them.
So is there effective advertising that fits within your budget? Yes, but it's really going to depend on what type of business you have and what type of customers it targets. When searching, don't let anyone tell you that they have the perfect or one stop solution for your needs. Build an arsenal of different online marketing methods and you will see greater success.
I hope that helps