Hi
I started a blog 2 months after I set up shop because I just wasn't getting much traffic. As soon as I started a blog and joined team's such as Etsy Blog Team, which was not only a supportive network but you find great advice and I learnt alot.
My blog allows me to reach a much wider audience beyond Etsy - alot of my sales have come from people who join Etsy to purchase my pillows, because they have found us off Etsy. The more people join Etsy, the more they are likely to buy other things on Etsy. I guess, I feel like there is nothing to lose in spreading the net as widely as possible on the web. For me blogging has been the most effective tool and best suits me. I don't really promote on Facebook or Twitter - I find these more difficult to build a rapport with a potential audience.
It definitely takes time - blog regularly (if you have the time), join teams and forums, network and support others - it's a rewarding experience.
Hope this helps you decide : )
Today, you can find a creative guide to product photography - you are welcome to drop by:
http://sisterbatik.blogspot.com/