Hi!
So I'm gonna start by linking you to this thread
here because it's me from about a year ago going through the same anxieties you are now and never actually believing I'd make it to the other side. It also has some great advice from both Alice and Dan who also bounced back from post-VS rejections from previous cycles.
My own feedback after my failed VS was that I had failed to show enough analytical ability in my final case study. The firm I did the VS at unfortunately made TC decisions based solely on the final case study and interview so it didn't matter that any analysis I had done during work for my supervisor may have been more in depth. I personally tried to improve on this by joining the AS Commercial Awareness Competition and also just practicing case studies way more. Both helped me realise that strong analytical ability involves a degree of argumentative capability i.e being able to support your position with information you have pieced together and solutions you can offer to mitigate issues within your choice. I've given this advice elsewhere before but if you'd like to improve on the quality of work/tasks you produce during the VS, try some of the Forage virtual work experience programmes because the tasks on there really mimic work you can expect to get and seeing the example answers produced by associates help you understand the standard you should be aiming for!
Looking back on my own performance during my first VS, I'm not surprised I didn't get it. When I compare it to how enthusiastic I was during my vacs in my final year (reached out to various people for coffees, always tried to be friendly with other VS students, GR, anyone at all I ran into), how engaged I was (even during terribly boring IT inductions I somehow managed to stay switched on completely - thank god for coffee!),and how much more careful I was with the work I produced (I proof read absolutely everything at least 5 times over and ensured especially in terms of the analysis that I had covered all bases), I think all of those things made a world of difference.
I'm sorry if I seem to be repeating advice that you've already heard a thousand times over, but I really believe that converting a VS comes down to being the candidate that yes produces great work but also is enthusiastic about every single thing during the course of the VS. You'd be surprised how many people fall short on the latter part (just like I did during my first VS)
Hope that helps! ☺️