Here are 6 things you must do (not the usual general BS), these are small steps but important ones.

1. Add your phone number, your website to Google alerts to see who is using and misusing it.
2. Integrate your Local business stores with online, have a print about, “Hey! We are on Facebook, lets connect!” and give it to people who are visiting you.
3. When you start a Facebook, have proper profile image and invite your customers using FB email invite (you can do till you have less than 5000 fans). First set of fans should be high quality. Then you should run ads for friend of friends.
4. Understand your product service type, Is the more people will search to buy (like TV, Car etc, there is a decision making time), or can you reach out to them and convince them to buy (a T-Shirt, a restaurant etc, where you can interrupt them and convince them to buy). You marketing channels depends on it. For Search Type (SEO, Search PPC, Directory lists becomes very important along with branding for long terms), for second type (interrupt marketing, Emails, Social Media Ads, website Ads will work great) .. This certainly needs more explanation
5. Have a plan to collect reviews online (This is asset, don’t lose it), in case if customers have blogs, do get links by requesting for a review on their website. [I can't explain how important these are]
6. Run a regular contest (It can be small one but maintain a buzz online and offline), this matters a lot

@aji-mathew  Thanks for the great tips.  Feel free to add more!