Offensively the Colts can use help all over and that starts with QB. Although it might not be ideal I do think the Colts starting QB next year will be Jacoby. I dont see Ballard reaching on a QB prospect in early rounds when we need help in so many other positions.
On offense it's no secret Colts need some talented skill players. WR to me is at the top of the list. Pascal and Johnson have shown flashes, but teams arent afraid of them. TY is 30 and is entering the back end of his career too. I personally hope Ballard double dips and gets a WR in the early rounds and spends some coin on a guy like Cooper.
I think Ebron is as food as gone and if that's the case you need an athletic pass catching TE that can stretch the middle of the field. A couple names worth watching in free agency would be Austin Hooper or Hunter Henry. Either would be nice options to pair with Doyle.
As for the RB position I think you need an upgrade their as well. Mack has a problem staying on the field and has really regressed the 2nd half of the season. Hines has been underwhelming, and Wilkins can kick rocks imo.
There are a few big names hitting the free agent market, but as we all know Ballard most likely wont spend big on a RB. With that being said I still think you have to consider some of these guys if the price is right. Derek Henry will most likely get a new contract, but I'd jump all over him if he was to hit the open market. I'll be interested to see what happens with the Chargers RBs. Gordon is a URFA who wants a big deal, and Eckler is restricted but either would be nice in Blue. 2 other names to watch is Kenyan Drake and David Johnson. Drake is a URFA but has played pretty well for AZ since they traded for him. DJ has been unhappy with his touches, and while he isnt a FA the Cards could sign Drake and look to move on from DJ. DJ behind this oline would be fun.
Defensively I think the main priority is DT followed by pass rushers and CB help. If they can get a stud DT I think it's going to help the entire defense out. This is the position I'd be looking for with our 1st round pick.