Interestingly, senior decision makers look at eMarketing ROI based on their roles.
CEOs tend to focus on downstream metrics such as aggregate ROI i.e. if we invested $x into an eMarketing program, what revenue, $y, did we get from it. How many fold is $y of $x.
On the other hand, Marketing Directors tend to focus on upstream metrics comprising of details like visitors, cost-per-click, cost-per-acquisition, etc.
As eMarketing service providers, we measure both upstream and downstream metrics. We measure upstream metrics for diagnosing problems and upstream metrics for justifying our services.