I'm just going to reiterate what everyone else just said... :bdh: ...
Networking will bring in the highest quality of customers for you. They're loyal, known, and will continue to advertise for you for free. But, this group also takes the longest to get going.
We have a similar discount card in our area, although we have to pay to be in. Our main advertising is between that card and using one of the largest direct mail distributors (rhymes with HalPack

. As a result, most of our customers come in with either one of those coupons.
Newspaper and print yellow page advertising is declining. Our new phone book is an 1/8-inch thinner than last year, and we don't have a big book to begin with!
So, take your print ad budget and spend all you can on internet advertising. You can get a lot for free too. Feel free to PM me if you have questions.
I've also had surprisingly good success with our own mailing list to current clients. Again, sending coupons and invitations. A bit more costly to do this tho. Try throwing a party!
Bottom line, you've got to spend money to make money. Time to dip into savings and open another credit card. The people will come back, just give them time.