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Never neglect Generic Traffic
There are two types of people that visit your website. Those who arrived and left ("generic" traffic) - and those who arrived and bought ("relevant" traffic).
Quite obviously, and for good reason, there is a lot of focus put onto getting relevant traffic. This is because the SEO and the client want to see a return on their SEO investment sooner rather than later - and why have someone visit the site who isn't interested anyway? It doesn't do either party any favours...
That's all very well, but aren't we forgetting something?
Traffic is an SEO factor
Many will argue this case, stating that as long as the website and the content is magically super-optimised then the site will take-off and fly up the rankings. No it wont. So on the other hand, if a website is continually getting thousands of visitors - does this not mean anything?
This is actually how social media works. Google doesn't actually count links from Facebook and Twitter, because both of these sites use "nofollow links" anyway, so their worth is almost completely nullified. But if there is a sudden influx of thousands of people to your website from Facebook and Twitter, you can rest assured that Google is going to notice.
Matt Cutts was once quoted to have said that Google uses over 200 SEO factors (see here too) that are used to calculate your relevancy position in Google's search results. It's very safe to assume that traffic is at least one of these factors.
Ranking = Traffic, Traffic = Ranking
The cruel reality is that the higher up the rankings you go, the more traffic you get - and the more traffic you get, the higher you go up the rankings.
If your website is position 8 in the SERPs (Search engine results pages) and it is getting more click-throughs than any of the above, this indicates to Google that position 8 must hold more relevancy or interest than the above. In time, it is very likely that this page will move up the rankings.
The point to take away from this is that all traffic is good traffic. It may not be "relevant" traffic, but relevancy comes in time and in the detail - whilst you have lots of traffic, do all you can to maintain it - because it will pay off!