One of the primary issues around lead generation from the web is that far too many companies worry about traffic as the defining lead generation issue.
Actually, the best lead generation will probably be from lower traffic, but traffic that is targeted and has a great call to action.
The call to action is how someone becomes a lead. They choose to fill in a form or call you or email you.
I actually consider someone a lead as soon as they land on a website I run. They have found the website because of searching on the topic, or following a link. Something has referred them to me. When someone is referred to you in person you would consider them a prospect, if not an actual lead.
So treating website visitors as prospects and leads will help you make a clear call to action and generate more qualified, hot sales leads from the web.