do you advertise on local search engine like yelp , hotfrog and others to target local region?
that would depend on the product and what to advertise..
If the product (for example) is available on line, then might as well go for the world wide advertisement.. However, if you are just targeting local audience then it is good to use those local SE..
I never try this. Whenever I have option to use, I try some other sites that can hit more to my site. That can be Magazines, Local Newspaper or online classified sites.
I never tried it yet but if ever I want to advertise my business I would choose another options such as publish it on local magazines or online free classified ads.