Digital is a vague, catch-all term. It describes mechanisms and distribution but the truth is that marketing is still marketing and that is what is important.
One thing the web in particular has done to change how things get done is the elimination of silos and a kind of bucket brigade thinking - when the direct result of an action can be observed - sometimes in real time - through data then the process of managing campaign activity has to inherently change. The very idea of a marketing campaign as it was once understood has to be reconsidered.
Obviously the days of planning an annual burst of activity, executing once and pulsing it occasionally through the year isn't going to work. Things change when consumers carry their media in their pocket and that one device can aggregate from infinite sources and provide experiences ranging from receiving simple SMS/Tweets to immersive 4D VR video.
I recently came across an idea that neatly offers a way we can make sense of the complexity. It breaks marketing into three groupings and at any given point in time a marketer will be working on one or more of these elements:
All three elements have to be addressed - continuously. Without generating a volume of traffic (reaching enough of the people you need to consider your product) you won't have enough mass to convert to profitable sales. TV is still a valuable way for FMCG brands to reach enough customers to consider and complete purchase at the supermarket. Just like web marketing, real-world marketing is a numbers game. Conversion will include your 'shopper marketing' activity - doing your darndest to convert the positive, salient messaging into a sale before the customer switches to a competitor's product.
The bottom line will always be the bottom line.