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Fortune_Hunter - 10:44 pm on Feb 9, 2009 (gmt 0)
I would recommend you come up with a white paper, special report, or something else that has an enticing name. Give this away free if people agree to sign up for your newsletter. Then start a drip email campaign to them once they have opt-ed in to get the freebie. I use this technique all the time and it works pretty well, it should work even better for you since you have decent hits every month.
Try implementing a bait piece. You may have plenty of people that are checking out the page, but it sounds like a lot of them aren't willing to take that step of contacting you and potentially being sold.