local paper adverts have served me well, there cheap and i get work from them which leads to referals, pound for pound they make me money, i'll admit i'm getting nothing off them since new year but they will start working again.
if your funds are tight then i would say ditch them for a month or two cos like sherco says, the work should start trickling in when the weather picks up. i'm gonna keep up my paper adds and i'll let you know when i start getting work from them again, no advertising at the moment is bringing work in, if you read some of the threads on here, its all repeats and referals. even leaflets arnt doing it for me right now but i'll try again mid feb.
like jim says, we have to ride the storm for a few years till we are in a position to get by on repeats and referals when the need arises. but if you can afford it, keep up the advertising that works, (even though it may not in jan) every job is a referal for the future.
personally i'm doing nothing this month, which is ok with me as my wife is back in hospital and my 2 year old was sick all last night and this morning so ive got other worries, i think the majority of newbies will be in the same boat so don't get paranoid, your doing nothing wrong and things should be back to normal quite soon,
hope this eases your worries.
Neil Eric Body