One of the main benefits you hear about RSS is increased search engine rankings. Here are a few benefits RSS feeds can bring in regard to improving search engine rankings:

• RSS feeds that use your own domain name get blogroll and annotated links from other blogs and web sites, increasing link popularity
• Inclusion in RSS directories can assist with traffic and link popularity
• Updated RSS feeds are indexed by search engine spiders more frequently
• RSS output on your web pages contributes to your site's "freshness"
• The format of most RSS feeds provides themed content that's easier for search engines to understand
  

There many applications for how RSS feeds can be implemented ranging from syndication of blog posts to republishing syndicated content on your site(s). There are also opportunities for companies that use affiliate marketing to promote syndicated content across their affiliate networks.