For everyone dealing with Google traffic drops, "Not giving up" sounds nice but it's not always the wisest course of action. You want to figure out what is influencing your SEO traffic change. If you can't figure it out, then you are going to have little chance to successfully improve the situation.
Did the traffic drop due to a change to the serp layout?
Did the traffic drop due to a change in your competition (new sites or new pages outranking you)?
Did the traffic change because Google adjusted their ranking algo?
If your traffic changed due to Google adjusting their ranking formula, take a step back from your site and evaluate your ranking signals. Do you have good content? We all think we have good content but is your content generating traffic from social sites? If you are not getting a good amount of social traffic, then maybe your content is not as high quality as you think. We all think our own baby is cute but let's be honest not every baby is super cute and not all content is great. Engage with relevant social audiences for your website. Pay attention to the content they want and the content that is gaining traction from them. These are good clues on how you can improve your own content.
Start sharing your content with relevant social audiences. Check your ego at the door and be very receptive to criticism. It doesn't matter how you feel about your content, it just matters if other people like & want your content. So listen to the social audiences and give them the content they want. Doing that will help you build up a healthy traffic source outside of Google. It also boosts Google traffic. For example more brand awareness from social audiences can lead to more backlinks & that definitely helps SEO.
Once you have great content, worry less about your Google SEO trouble and build up your network of traffic referring websites. What websites would make good cross promotional partners for you? Traffic generating referrals and cross promotional partners are high quality backlinks. Backlinks aren't easy to develop but they are rocket fuel to Google rankings. Ask yourself when was the last time you gained backlinks that actually drove real traffic to your website? If you can't answer that, then it is likely part of the reason why Google is not giving your site as much love as it used to enjoy.
The more you make your site popular outside of Google, the more it comes crawling back and boosting SEO traffic to you.
Bottom line - we all want to make sure that our hard work will make a difference to our websites. Be smart and take a step back to assess the situation to make sure you are working on the right thing at the right time. Working harder isn't always smart. You can punch a brick wall as hard as you like but its not going to help your SEO rankings. Be careful that you aren't blindly working without knowing what is actually needed to fix your rankings :)