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Overall, the most effective way of conducting a job search is networking. The best part about networking is that the more friends you make, the wider your network! Because really, that's all that networking is - meeting people, making friends, and talking about your business (your business is YOU!).
By networking, you'll find people who know about unadvertised jobs. Talk to people you know and find out about their companies - ask them to do internal job searches. They can tell you the right person to send your resume to; and you'll have one of the most sought after types of references: somebody who knows the employer.
This kind of networking is great for everyone. You get a good reference from a trusted source and your friend may get a bonus for bringing in a referral that is hired.
You shouldn't conduct your job search solely by networking, but you definitely shouldn't conduct a job search without it.