Remember, with every traffic there are multiple income opportunities, for example, you can use your banner space for PPC, CPM, Interstitial and Slide-in advertising and use your content space for promoting CPA offers or Amazon through reviews. You can even make your visitors to subscribe your mailing list by offering them some kind of incentive and then use email marketing techniques (doing solo ads, sending traffic to your other sites, promoting affiliate programs, selling your leads etc.) to generate income.
Try to get more Tier 1 traffic (USA, UK and CANADA) if you want high conversion and rates for all above methods.