He addresses scale but only scaling up. What he neglects to realize is that AdWords et al are elastic, if I want to get 10x impressions over the weekend I can do that. With cold calling, not so much...
This is not true in all cases. Adwords has plenty of niches where the number of clicks per day is very limited, no matter how enticing your ad.
If you already have a good idea of who your customers are the shortest path to those customers is likely a much more direct one than waiting until they happen to see your ad and click on it.
You can train a few people and pay them per conversion. It's easy to get a list of numbers from a service like Hoover's for free at your local library.
If you already have a good idea of who your customers are the shortest path to those customers is likely a much more direct one than waiting until they happen to see your ad and click on it.