What is the best way to convert Google Adsense clicks?

I recommend that you send your visitors directly to your index page.  This index page should be named index.htm and NOT index.html because "html" is your cloaking word.  There are a lot of strategies that advanced users of Google Adsense use to get better conversions on clicks.  Ad placement is important and Google gives some advice on the best places to put your ads.  Here is a link to Google's Heat Map.  Another thing people do is build their content around the highest paying keywords in the industry.  Try to find the keywords that pay the highest and build your content around those keywords.  You will be able to earn more per click.  Also, some people claim that "bad" or "uninteresting" content has better conversions because people want to click out of the page.  Another thing you can do is create an "adsense trap" where a visitor has no other choice but to click on an adsense ad to exit the page.  Some of these tactics border on the line of being ethical and I urge you to consult Google Adsense Terms and Conditions so that you don't get banned for breaking Google's rules.