If you want to know the secret to successful blogging, you must watch this video. John Chow discusses some of the reasons why most bloggers don't make money.
Building a blog is not enough; you have to market it. Treat your blog like a real business. It takes time, money, passion and commitment to build a money making blog.
What is more important than your traffic is how you monetize that traffic. Blog consistently. Keep working on your brand.