No problem. Yes, that's how I like to set it up.
For each of the sources that you want to differentiate on (organic search, paid search, social, email and so on and then specific campaign 2015Q1 PPC Offer 1 and so on) I would setup a campaign in Eloqua. As long as you have Closed Loop Reporting (i.e. the campaigns sync over to SFDC) you can use the Eloqua campaign ids in the tracking - and use them to populate a hidden form field elqCampaignId (you need to do more setup to handle more than 1 in the scenario of most recent and original being tracked).
If you do not have Closed Loop Reporting you can use contact fields like Last SFDC Campaign Id to pass through the tracking ids - in that case you would use the salesforce campaign id as the code instead of the Eloqua one.