In case you have an hour free time every day (which many people don't) or you can afford hundreds of quid for a copywriter (which most businesses can't) then go for the high quality content. Otherwise I believe SEO should be about connecting with relevant communities. This means that you need to research and understand your industry even more and identify closely relevant communities.
If you are a car dealer for instance, you can guest post on some car blogs, you can build relationships on brand forums and you can partner with companies offering complementary services.
Also, link building should not only serve the purpose of better ranking, but also for traffic. Forums, for example are excellent way to build links for traffic not ranking.