Content is always considered as king and it will be.
After creating you content you can go for social bookmarking of the page to get some instant traffic, Write few article's about the original content of your site/blog and go for article submission.
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How often do I need to update fresh content to be effective?
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If you can update your site/blog on a regular basis then it will be very helpful or else you can do it twice or thrice every week. Just do it whatever goes better for you.