seo – Website translation: new top-level domain vs current subfolder

Approximately 3 months ago, we translated our website into Spanish. Because our brand has a meaning in itself, we decided to translate the brand as well. The hope was that it would benefit our SEO.

For example (fictional):

We mark in both site maps the different versions of languages, and we place links on both websites that point to each other (in the footnote with an emerging language as seen in many websites).

We note that, even after 3 months, we have almost no traffic on the Spanish website. Our average .com ranking in Google is 6.6, while in .es it is 70. Clicks in search engines do not exist in .es, while in .com they are +1 million in the last 3 months.

Apart from the language, the website is the same. Meta tags have been translated too. There is no reason why English speakers have more interest in the content of our website.

So … we're starting to think that going for a new top-level domain was not that smart after all.

My question: would you recommend us go to or is it instead? Will we benefit from our good .com ranking? The main thing that we would like to achieve is that people looking for "soccer tactics" find our website, so it is not about Spaniards looking for "soccer tactics" and that a Spanish version is presented (which also It's good, of course). but the other will drive more traffic).

What are your thoughts?