May have been mentioned already but I think for the next 2-3 seasons we should adopt a primary transfer strategy of going after the squad players from the sides in the top 6 that have proven themselves to be good enough for a top 6 team, but aren't quite at the level of a top 4 team and aren't wanted by those clubs. Expecting to just sign a load of new players in the summer and then challenge instantly for the top 4/5 was never going to work, and we need to be adding proven quality to cement ourselves as 'best of the rest' before making the next step. Pickford has been a good signing but going after the likes of Keane and Sigurdsson from bottom half sides for large fees seems daft when we could be getting better for a similar price.
The players I am talking about would have experience playing in Europe, challenging for trophies, and know what it's like to win big games etc. Flair players/goalscorers ideally. Which is why I think Walcott would be a good addition for where we are at the moment.
Some may turn their noses up at us, but it's worth a try....players like Wilshire/Walcott/Welbeck from Arsenal would be a good starting point and are far far better than what the sides below us have in their squads, and would improve our first 11. We wouldn't be fighting it out with the Watfords and Burnley's if we added those to our squad.