What is the Benefit of Press Releases?
1) Using a good press release company is important. Do your research to see which ones give most credibility and link juice. There are free PR sites which can be beneficial to your SEO strategy. You don't always have to pay. Using a credible PR company which offers a link in the press release will help your link building startegy.
2) A press release creates 'buzz' about your product or service. It may increase traffic to your website. Newspapers or journalists 'may' pick up the story if it is a good one.
3) A press release can increase brand awareness.
Writing a press release takes a little time, but there are formats to follow and guidance from all the decent companies which offer the service. Don't worry overly about this as there is help in abundance online.
My advice is don't delay. It can cost you nothing and can add plenty to your SEO strategy.
Tip: search for the best 10 free press release companies in Google to start your research.