Comment by siliconc0w

Make clear what your goals are to your manager, brainstorm with your manager what kind of specific work would lead them to recommend you for promotion. Then propose that specific work, get them to agree, deliver the work, and hold them to their agreement. Ideally talk to other stakeholders/skip-levels since promotions are usually by committee and you want as many allies as you can in the room.

You also want to figure out if it even makes sense to go for a promotion, if the organization isn't growing - it's going to be a lot harder/impossible to make it.

It also may not be financially worth it if you care about work-life-balance. It might be worth it to get paid 50-70% as much but not have to spend your day in back to back meetings. It may even pencil the same if you consider hourly rates and taxes.