We've got a lot of good points in here. I do fully agree with some things that were brought up, such as how difficult it is to pry praise for TNA out of a WWE mark. I get that they being marks in the first place precludes them from recognizing anything else as good. I also get that TNA has it's own marks who are just as critical of WWE and refuse to acknowledge reality vis a vis TNA's standing when compared to WWE.
I am a fan of both TNA and WWE. I think both do things well. I think there are a few things that TNA does better right now. However, I'm not going to sit here and pretend that they're the better company overall right now. But there's no shame in that. Compared to the vast history of WWE, TNA is still an upstart. But I do think TNA has been doing very well and still continues to improve lately. I also think a lot of WWE fans are reticent to admit that.
But this is about what TNA should improve, so on topic:
Production- As several others have said, production is one area where TNA is clearly inferior to WWE, and is in sore need of improvement. Production is so important to how the product comes across, and even when TNA does great things storyline-wise or wrestling-wise, it is often cheapened by their production level. As many have touched on, the entrance music and videos MUST be better. Most songs sound generic or are completely forgettable. The videos on the screen are an absolute joke. Every single one is a loop of the same two or three images. Some have fancy motion...ooh!! I can't think of one that has images of the wrestler in action. Most don't even have the wrestler's image in the video at all. I think Tessmacher's has her face now....... does anyone's else's? Just thinking quickly, I don't think so. Even if they do, it's so forgettable, that's the point. WWE videos have action shots of the wrestlers kicking ass, doing their finishers, being awesome, with other cool stuff in between. And they go perfectly with the song. Think of Cena's video, the music starts, it builds and builds, the video shows a few shots of him, then the music explodes and at that very moment his name fills the screen, the crowd goes crazy one way or another. Orton's video goes perfectly with his music, etc. TNA's entrances are terrible compared to that. I know they have the side screen that constantly shows the wrestler's image, and I think that's a neat idea, I wouldn't change that. But they have to start making the main videos at least an ounce worthwhile. Coupled with the bad music, it just kills almost everyone's entrance, and that can kill enthusiasm For what's about to happen. Look at Bobby Roode's entrance. The music is awful, plus you can barely hear it. His video has a couple of swinging chains. Then he comes out and walks to the ring with barely any expression. I'm not criticizing Roode, I get he's a heel and that's his character, he's not going to be jumping around. But the whole thing is just so underwhelming. Give him a more intense song, pump up the volume, get the green lasers going. Make it seem like business is about to pick up. Again, I like Roode, I think he's done a great job, and I like the overhead shot they do when he stands on the turnbuckle now and he looks up at the camera. That's the kind of thing they need more of.
Almost everyone needs a new song. Keep Hardy's, Anderson's, Storm's, Bully's, Joe's, and AJ's. Change everyone else. And more people could use pyro. Not in the budget you say? How about reducing or eliminating Hogan's pyro? He's got enough on his own to spread around to three guys. Seriously, why does the GM have the best entrance on the show? He already has the most recognizable song with the remixed NWO theme, so they give him by far the biggest pyro out of anyone too? His pyro is like AJ and Angle combined, for Pete's sake. I get he's a legend and probably an egomaniac but come on. Give some other guys some pop in their entrances instead of using the aforementioned green lasers as a cheap substitute.
I went on about that longer than I thought I would, but in my opinion it's the one thing that right now would make probably the biggest immediate difference. Just some other quick hits:
TV Title- Devon's done ok, but put it on someone else now. You could go with a younger guy (not Robbie E) to give them a boost, or maybe even one of the main eventers with not much to do right now. Hell, even Hardy. Just make sure they're not fighting C-level guys every week, put them against quality opponents who have a name and it will help the title and the wrestler.
Go on the road- I know it's not feasible right now, but at some point in the future, get out of the Impact Zone, at least some of the time. Going live was a big step and a good one, this will be as well.
Tag teams- Everyone's already said it. More are needed.
Color change- One person mentioned this, I forget who, but it's something I hadn't thought of. But now that I do think about it, I think it's a tremendous idea. Whoever said that was absolutley correct. Blue has become the color of the secondary show. It really is a great point, it's sublime. Almost like an unconscious association. As much as I would like to say go with red (my favorite color), too many people would scream that they're copying WWE again. Green and black is a good choice. I also want to say orange instead of green, but it probably wouldn't look right. Even if you don't want to do a drastic change, make the shade of blue dark, really dark, like a midnight blue or something. Like the Yankee's shade of blue. (No, not a Yankees fan, I hate them actually). Just get away from that electric blue shade. Sadly, their best chance to make a change like that was probably when they went live, not sure how you'd introduce it now.
Edit: LegendKiller716 originally had the point about the color, wanted to give him credit. Also, keep Sting's entrance song as well.
Much like the 90% of WWE fans and 10% of IWC fans want to "fix" the TNA's product? I don't understand what is so wrong with the product that needs to be "fixed". I can side with the fact that the ratings have not improve since the move to an earlier time slot (and the fact going live) but everything else has went from "meh, okay to "Damn, that was a pretty good show". It's been said from time to time that it's hard to keep a wrestling audience interested. Whether it's TNA or WWE. When you read forum's or hear good things about TNA/Impact Wrestling around the internet; it makes even the most jaded fans tune in to watch. TNA/Impact Wrestling may not get WWE like numbers but it's a success in my eyes, much like WWE and ROH is a success. I don't watch WWE or care what they are doing but they are still around. Don't like it, there's the remote. 
