Football: Missing out on the CFP and losing in the Rose Bowl, and the team effectively finished second in the Big 10 by losing the title game to MSU.
Basketball: Regular season title, and losing in the BTT title game. Or, 2nd place regular season and win the BTT. 2-3 seed in the NCAA, and losing in the Elite 8.
In my mind, the CFP is equivalent to the final four, and Rose Bowl is more like Elite 8.
Tough to compare football to hoops though, where hoops is more post-season tournament based, and football is more or less all about the regular season, plus a bowl.