When you limit yourself to only one outlet for ads and marketing I just have to ask; what happens when that avenue dries up? We are always looking for new ways to advertise, the day you slow down is the first day before you head down the lonely road of going out of business or dropping your sales down enough that you wish you had tried another path instead of "winging it".
We advertise on blogs/forums related to our market but have tried Adwords/Bing and it just doesn't work for a small business unless you target locally and don't want to folk out a few thousand to be on the first page on some keywords
I haven't done that yet but when my advertising budget gets higher I will certainly give it a try. I tried Adwords a while ago for one website with over $50 and it didn't bring any new customers. Adwords is very good for targeted visitors though and if you have a high advertising budget it should be worth the investment.
We have tried banner advertising and it has brought a few customers. Our staff members have created all the graphics, including banners, for us.
If you don't know anyone with the required photoshop skills you might be able to find someone on some tech forums. Some people do it even for free and even if they charge for it, it will most likely be less than $10 per banner.