Content submissions like article submission, blog posting, forum submission, press release submission and web2.0 submission are best methods to drive traffic. But you should submit unique and quality content.
In order to increase traffic to your webite you need to do both SEO and SMM. SMM includes Facebook , twitter, Google plus, AND SEO includes Forum Posting and blog commenting. this will get you high quality taffic.
Always remember that Google has changed a whole LOT. Not all old fashioned SEO tactics work as they used to. Read up on Panda, Penguin and Hummingbird before choosing what is best for your site! Some things no longer advance you, they can even get you in trouble!
Carefully keep abreast of new things poppping up on the internet. It all depends on what kind of niche you're in. My niche is very visual, so things like Instagram, Polyvore, Pinterest, are really good for me. If I was a mommy blogger, I would be on Sverve or would try to gear up my site for BlogHer. You need to take a good look at your site and see where you belog. If you have a site with great articles, look for social media sites where you can feature them to advantage. And don't forget Google+ communities and hangouts!
SEO is more important than most people think, but it has to be done right. I have several blogs, there was one that I had sadly neglected. I only added keywords, picture alt tags and descriptions and I had hundreds of visitors rightr after that (without even an ad!) So search engine optimization is no joke!