Hi there

You know, in my own opinion - what works best is actually a diverse approach to marketing, experimenting with many different types of connecting with your target market is most effective.
A combination of print ads (postcards, promo materials etc.), web (anything and everything online that you can possibly take advantage of), and live networking (local chambers, small business groups and meetups etc.) will ALL have an positive impact on your practice.
There's certainly something to be said for local marketing (although I can't say I've ever personally done that) but in that regard you have the opportunity to make an impression in person, that you would otherwise be lacking with straight online connections. Some clients really will connect with you better when they can see you and meet with you - so don't overlook local as an option. But also, don't limit yourself based on location - I'd suggest determining WHO your ideal client is and then brainstorm all the ways in which you can reach them directly - either based on their industry, interests, etc.
Good luck with your new practice!