It can be easy to get carried away with the number of visitors you get to your website and forget that it is not just a numbers game. Yes the more people you attract to the website the more sales and/or enquiries you would expect to get but if you are attracting the wrong type of people then your conversion rates will be awful. Although high traffic can be an indication that your site is performing well, it may not actually produce that much business for you. IF you notice high traffic to your website but are seeing little in terms of an increase in sales or enquiries then you need to start to drill down further to see where the traffic is coming from.
Qualifying your audience will possible reduce the number of visitors to your site but will mean the quality will improve. This means that the people that are coming to your website are actually looking for products or services you can offer and therefore are more likely to interact with you rather than landing on a website they don’t want and leaving straight away.
You need to have a look at how you are attracting visitors. If for example you are using Google Adwords, then check that your adverts are correct and that they are going to the right page. Also check that you have removed any keywords or adverts for products or services you do not offer any more.