#3 Treat the KOTR like a big deal
WWE used to treat winning the King of the Ring tournament just like winning a championship. The winner was given a huge push following the event, and they often went on to become a world champion.
The last Superstar to truly benefit from becoming the KOTR was Booker T. He employed the King Booker gimmick for a long time and used it to become the top heel on SmackDown for a couple of years.
Sheamus, Barrett and William Regal were the last three winners, and none of them capitalised on it like the others had done it before them. WWE turned the tournament into a watered-down version of what it used to be.
If WWE hyped the return of the King of the Ring PPV as a big deal for months in advance, people would actually get excited about it again. Qualifying matches could be held in the weeks leading up to the event to make it feel even more legitimate.