There are infinite ways to view, prioritise and use channels. It all depends on what you want to achieve and who you need to connect with to do that. Every organisation should have its own way of viewing, prioritising and using channels depending on its business goals and the experience it wants (and needs) to give its stakeholders. This requires a bit of time and thinking. It pays to resist the time-poor temptation of borrowing another organisations' view.
Be channel agnostic. Consider every channel. Don't be seduced by the apparent benefits of digital at the expense of exploring other platforms ... each has its own merits and costs.
Digital / browser-based
Mobile, social media, web, augmented and virtual reality, dynamic forms, search engine optimisation, video on demand, massively multiplayer online games, geo-spatial tagging, cloud, experiential laboratories, dialogue forums ...
Billboards, noticeboards, vehicles, point of sale, shopfront, graffiti, playable posters, pop up shops, cinema advertising, office buildings, equipment, ...