I will try to summarize all the replies for people coming to this thread and do not have time to read all the posrs:
1- Social Media IS the way to go.
2- Marketing PPC (Pay per click) ads
3- Offline Marketing, like cards , posters...etc
4- Most of all, your hard working and customer support
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I would say the potential is there but whether you reach it is really dependent on how much effort you put in. In theory, it is always easy to perform the calculations, but in reality there are tonnes of competitors who are fighting for both your existing and prospective clients.