Ya, you can promote your video with Vimeo as it is good video sharing site where people mostly search for videos related to their business niche or any other info as well. Rather than using YouTube and Vimeo, you can go for Photobucket, Flickr, Dailymotion etc. These are the best sites for promoting your video in a larger extent.
From what I read online, it would be a good idea to promote your videos on Vimeo too because it still get's "some traffic". I use that term lightly because you're probably not going to acquire too many views on Vimeo, but it will help you gain trickles of exposure.