Yes and no.
Your Google My Business (GMB) is like a modern day Yellow Pages. Fully setting it up is the equivalent of having a full-page ad for your business.
When potential customers search for your type of business, your GMB will stand out from your competition, making it easier for customers to see which company is the obvious best choice.
If you normally run ads for your business, or do any kind of marketing, you can post the same info to your GMB listing for free in about 3 clicks.
But you don’t have to remember to manage this listing. Google will send you a couple reminders each month to post something new. Just click the link in the email, say something about your latest promotion or post a picture of something you have going on in your business, and you’re done.