If you only care about formatting a single piece of text use a filter. If you want to reuse an entire block of content use a directive. It's difficult to be more specific with only a generic description of the application.
I had an application where I got medication information from the server which I needed to format, but I also wanted to use it in multiple places in the app. So I made a directive so I could reuse the entire block of content, but within that directive information about the dosage was formatted with filters.