If your company is locally based (ie. Toronto real estate) then you need to be thinking locally when you advertise online. There is no point advertising on real estate websites that are overseas. Your goal should be to dominate the local market when it comes to SEO.
That means advertising on websites that are either about your product or service, or similar to it, that are locally oriented.
What you want is links to your website using keywords or combinations of keywords for that topic.
ie. Toronto real estate, Toronto homes, Toronto houses, Toronto homes for sale, Toronto houses for sale, and so on.
And on top of that you should be SPECIFIC. You want to advertise on websites about specific neighbourhoods that are close to your business. The names of neighbourhoods, streets, avenues, rivers, local parks, and anything in the region is a gold mine waiting to be exploited by you.
ie. If you're trying to sell a home in Rosedale Toronto, you need to be advertising on websites about Rosedale Toronto. Even better if its a website about Rosedale Toronto real estate, although that may be more difficult because it might be a competitor.
When you run out of websites that are local that you can advertise on your only option left is to increase the content on your website. In which case you have to remember that its the keywords and the quality of the content that will bring in the users.