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your question is too vague, you can try to clarify things like your website niche, anyway back to your question..
first is to think of your targeted traffic, like who's the person you want to visit your site, are they males or female, young or old or maybe middle age people, as this will make it easier for you to know where you should put your advertisements.
you can advertise website through social media sites, such as facebook, myspace and twitter.. how to do this? simple gain reputation over this social networking sites, look for people who has the same interest as yours for these people will be the one visiting your site with every updates you have done or whenever they need something from your site. also ensure that you are not always advertising, give some helpful tips or try to help them with some of their problems, if you are doing good within these sites referrals will come next.
SEO is proven effective that can bring higher return of investment, with the right procedures you will gain traffic that may convert to sales or leads, you can read more information about this through sites like seomoz or from matt cutts..
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