It has been one year since Liverpool purchased the services of Daniel Sturridge and Philippe Coutinho, and the Reds' progression from fallen giants to Champions League contenders is complete.
Brendan Rodgers has wisely used the January transfer window to his advantage previously, and the next few weeks allow him to strengthen his position still further.
With Luis Suarez on fire, Liverpool are genuine title contenders for the first time in years, but can Rodgers take them to the next level and bring in the new faces that will perfectly complement their recent form?
Here are potential additions the Liverpool boss can make:
Mathieu Valbuena: Marseille
Mathieu Valbuena, at the age of 29, is a slick operator, known for his pace and trickery. The player has experience in abundance as a full international for France, and is currently a target for the Anfield club, as reported by Alex Richards of The Mirror.
Valbuena could provide the bullets that Suarez needs to catapult Liverpool further up the league. He has a strong delivery from set pieces, assisting three times this season, per WhoScored.com.
He would be a very shrewd January acquisition. With the depth offered by Coutinho, and the in-form Raheem Sterling, the Reds' attack-minded midfield would be a force against any team.
Ashley Cole: Chelsea
Looking at Liverpool's defeats this season, they could do with another seasoned campaigner in their defensive ranks. Kolo Toure was meant to add this element, but if Rodgers could bring in a player who has won it all, it could have a massive impact on this squad.
Enter Ashley Cole, a player who is out of contract at the end of this season, and a player who still has much to offer in the short term.
The Metro recently reported that Liverpool could offer Cole a route out of Chelsea, as the player has fallen down the pecking order in Jose Mourinho's squad.
Cole would still expect to find himself on the plane to the World Cup in the summer, but he needs games to keep his place.
Liverpool would be perfect for the player, and the signing would offer the team some balance on the left-hand side, where Jose Enrique remains a fitness concern.
Will Hughes: Derby County
Will Hughes is one of the brightest young talents in the English game, and Liverpool could be the perfect club to further his burgeoning reputation. He is a target for every big club in the country, and the Reds have made their interest known, as reported by Janine Self of The Mirror.
Hughes has been a sensation in the Championship, and the top league beckons for the young midfielder.
Derby are in no rush to sell, but a substantial offer could tempt a team outside of the Premier League. Hughes has three goals and four assists for the club in 21 games this season, per WhoScored.com.
The Mail Online claims Hughes has a market value of £2.5-3 million, and that the player says he styles his game on Barcelona's legendary pair of Xavi and Andres Iniesta. If the player could bring that sort of quality to Liverpool in the future, he would be one of the club's greatest signings.
The next few months are key for Rodgers and Liverpool. The club have had false dawns of recovery in the past, but this is a real opportunity to reclaim lost glory. If the manager finds the kind of signings that he did last January, it could be Liverpool who find the Premier League trophy in their hands this year.