You can definately use the saline nasal drops. There's one called Fess little noses that comes with a 'nasal aspirator' to help remove the mucous from your baby's nose.
Also try raising one end of the cot slightly, either by putting something under the legs or folding a blanket and putting it under the matress. It doesn't need to be very high, just enough to stop baby lying flat.
And if you don't have a humidifier then try making the bathroom steamy and sitting in there for a while.
Another tip with the baby balsam is to put it on their singlet. Just make sure it's an old one or one you don't mind getting a bit stained incase it leaves a mark.
My little man has a cold too and this is what Ive been doing for him. Hope your LO is feeling better soon.
Karen, DS1 31/8/03, DD 12/3/07, DS2 16/12/09