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The bookhitch newsletter I receive occasionally recommends in its most recent issue to promote your book with a podcast. bookhitch interviewed NYT best selling author Scott Sigler, who has done this, and raves about the traffic he's attracted to his work from such podcasts. Most modern desktop computers have the capability to do this, so it's not an expensive venture.

And I've copied these tidbits verbatim from bookhitch:

Freedom from the traditional publishing route can be a good thing, as illustrated by the Amanda Hocking phenomenon. This twenty-six year old e-book author has, as of January, sold more than 450,000 copies of her nine titles. Ms. Hocking aggressively promoted her e-books through her blog and other social networking sites;  she has signed with the publishing house St. Martin's Press.

 

The lesson for authors is that in this competitive environment, publishers seem to be looking for authors with an established and proven audience before signing them. Books that have achieved a certain level of marketability are viewed upon favorably by literary agents and acquisitions editors. The term "author platform" is the new lingo, and those that have successfully adopted it are more attractive to publishers. According to Joanna Penn of The Creative Penn "publishing houses want demonstrated evidence of sales and promotional abilities."   Building an online presence is crucial, and can be accomplished through author websites, blogging, video and book trailers, podcasting, social networking, article marketing, writing forums, and discussion groups. Joel Friedlander sums it up succinctly in his March 2nd post on the The Book Designer. "The new reality is that you are in charge of finding, and cultivating your own readership." Mr. Friedlander offers this pertinent quote from Jane Friedman of Writer's Digest "Audience development doesn't happen overnight (or even in six months or a year); it's a process that continues for as long as you want to have a readership. It shouldn't be delayed, postponed, or discounted for one minute."