I want to submit a simple idea: there is no such thing as new media. There is no such thing as traditional media. There is just media.
New media gurus love to talk about how the:30 spot is dead. Print ad campaigns are history. Billboards are spam. And that may be true. But the thing is 99.9999% of companies have always implemented many tactics beyond these.
Businesses have been using events, sales calls, sampling, skywriting, sponsorships, brochures, and gazillions of other mediums since the beginning. Especially underdogs. We've always had to choose which media would get what share of our budget.
It is no different with so-call new media. Much of it works. Every company should be considering it as part of their media mix. But if, somehow, its newness becomes an over-riding reason to pursue a tactic (instead of effectiveness) then you'll likely find yourself on a slippery slope to nowhere.