The Reds made great progress last season under Jurgen Klopp and reached the finals of the Champions League where they lost 3-1 against Real Madrid.
The focus should be laid on challenging for the Premier League title as well as performing well in Europe.
One of the areas where Liverpool should be aiming to bolster is the attacking midfield region. Liverpool have money to spend following the departure of Philippe Coutinho, and signing a top quality forward is necessary.