I think the answer will vary greatly depending on the field you are in, e.g., medicine is different from physics, CS, ... For example, for CS I would say that you should look for special issues of good publishers because they have fixed deadlines and cannot make you wait as long as they want (journals are kind of neglected in CS).

A good approach is definitely to look at the papers in your related work that you consider good and try for the same journals, the chance is high that your research will reach the people that matter (to you) this way. In the end the most important thing is that your research is found, if a journal is read by your peers it doesn't need a stellar IF.

If you aim to apply for jobs in academia it is definitely worthwhile to check out the metrics they use to decide which publications are judged high-quality by them, it will be probably something like a list of journals they deem good.

For "good advice," I would say that you should aim high if your research has some quality because reviewers are equally skeptical for both good and bad journals. It happens more often than not that a paper is rejected from a relatively "bad" journal just to be accepted later at a better one with just minor modifications, just because the reviewers liked the idea better.

Thanks everyone, all very helpful insights

Using the considerations and following the various steps should allow selection of the best possible journal in terms of visibility and quality and publication and dissemination of the research within the specified constraints.

Knowing the options

It is essential to obtain reasonably comprehensive knowledge about available journals in the given subject area. This can be done by consulting your peers, searching through online listings, and checking with professional associations.

Determining the impact

The recognition factor is obviously an important consideration. Quantitative measures such as the Impact Factor, Journal Rank, Article Influence, and H-Index are used. These are generally linked to the citation rate for articles published in the journal; however, these values and the absolute numbers of citations can both be scrutinized.

Journal scope and policies

The subject areas covered and the types of articles published should be ascertained. This will contribute towards addressing the suitable target audience. Further, information about the editorial policies and practices should be obtained in order to anticipate any situations that may emerge during the submission and peer review process.

Journal requirements and distribution

Most journals certain style for the article. Consistency of the article with these requirements should be ensured. The mode of distribution (print/online) and number of subscribers decides the reach of the journal. For open access, where the content is available to all, having an estimate of the typical number of readers helps.

Peer review factors

Information about the peer review process for the specific journal, including stature of reviewers, objectivity, and timelines, should also be gleaned from a variety of sources. Actual values or estimates of rejection rates should be obtained.

Urgency of publication and cost

There is a time lag between submission and publication of an article, which is dependent on editorial processing schedules, time for peer review, and periodicity of production and publication. This time lag should be taken into account for timely dissemination of the research. The costs involved in publishing (whether page or peer review charges) may also be a factor based on the available research budget. For new journals, future viability should be taken into account.

https://www.enago.com/academy/how-to-select-the-right-journal-for-publication/

I selected by the SCOPUS inpact factor and by scope of the jornal.

I would go for Open Access journals first, particularly those that don't charge the author, because I believe in making knowledge as barrier-free as possible. (DOAJ might be a good source of those)

Secondly, I would look at my references, and see which journals were they published in, that gives you an idea of the journals the scholars on your field prefer.

Only as my third criterion would I think of indexing/impact factor and the like.