Aside from the obvious benefit of gaining high google position there are additional benefits where SEO comes in handy:
Landing Pages for Google AdSense
If you have a landing page containing AdSense ads SEO will help you triggering the right ads for your purpose. Imagine you have a niche site for, say, "car insurance" (one of those adsense terms which pays well) - then you might be doing good optimizing your site for the term "car insurance" to get more targeted ads for a specific keyword.
Seo and Google Adwords (for Adwords publishers)
Adwords uses the same or a similar algorithm to decide the quality of a landing page for adwords. If you own a web site with rather fuzzy content then your Adwords Quality Score is lower, you pay MORE for the ads.
Amongst other optimizations and addons (eg. links for privacy policy, contact information etc.) on your landing page you certainly want to keep your Adwords campaigns at low cost - therefore you should SEO your site for the given keyword. You want the adword campaign being "spot on".
Those SEO benefits are interesting since they are not really related to Google search position. These methods not only help you saving money, but also help to increase your earnings
Author of this article is G.Rauh he is a SEO specialist and webmaster of www.1up-seo.com.
There you can find even more resources covering search engine optimization.
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