If you want to promote your online business, but are looking for an offline solution, you could look into sponsorship's and public events. Sponsorship's don't have to be corporate-size in nature, they can be a local get-together that requires some funding. You'll need to determine if the audience is the right fit for your product, and hopefully you're a people-person

Pretty good idea but hardly feasible

Actually I've tried very cheap blog advertising by looking for providers that let you post your ad monthly. I have been getting good clicks but it all depends on how attractive the banner or text ad is.

This works but you just have to find the right providers with very good site stats.