I dont think offline marketing is excpensive at all, its more how much effort (your own time!) you will but on it. I paid totally under 200€ for 1500 quality business card (5 diferent name) + 300 stickers from Hong Kong.
When Im on the casino or diferent poker events and giving a business card is convertising pretty nicely

But on the other end to give this same business card at the club dont convert at all. Drunk person dont give too professional picture + many of those people are not deeply on poker scene, so they dont know too much what you are offering to them.
Im having a diferent kind of players under me. But basicly im gettin 50-500€+ per month of my players. For small players the lifespan is around few months to over a year. I cant bee in toughts with them 24/7, so they are not fully connected to me and could possible leave when they heard of better deal. But still not too many players are leaving for better deal (because Im still giving them a valuable deal for their rake level), most of case the reason is lack of interesting. And they will have a break of poker.
For high volume players the lifespan is long. Had really few big rakers who had leaved somewhere els. Because this are the players who are generating my living, so Im of course treat them like a piece of gold. This is the target group you should get more in touch with(= they see you are great guy with great deals). So example: when they are looking for new deal to diferent network you are the first guy to ask about it, of course
Agreed with Spin32-Hayley that flyers + business card is the easiest way to convert, the only problem is that the right people should find this ones.
Like addz123 and jdwanchalk told its not too efective to give this flyers for people who dont know much about poker (they wouldnt understund even if you would offer them best deal on the planet). But im dissagree with this fellows that offline marketing does not convert. Why you cant do that beside online adv? You guys dont have a business card to give poker players you meet?
Reliable %%% of my high volume players had found under me on diferent kind of poker eves (=offline marketing). Big tournaments/events are the best places to find high volume players. Whats even better you could meet them personally and give way more trusthworthy picture about your self (= Boosting the brand of you and your site). This rakers will convert many times of one CPA deal on every month!
Ps. After reading Spin32-Hayley´s post I just remember about universities! You could contact them and ask if they have their own poker club etc and try to get in touch with their chairman.
During this autumn Im starting my first partnership with one Uni in Finland. Contacted the chairman of uni´s poker club. Now after few month we both are looking long lasting partnership that will start during this autumn. They will promote my site and deals and I will give them a small cut of profit (+ some pokerbooks etc.. basicly what ever makes them happy).
lol. too tired to check the grammary.
Cheers
Mr. Bluff
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