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A blog is a website. There's nothing special about it other than the fact that it is a "script" designed to make it easy to publish new content. If you have new content to post on a regular basis, sure, a blog is great. It'll help you generate some long tail traffic. However, keep in mind, a website is a website! When Google reads your website, it reads "code". . . it doesn't stop and say "oh, it's a blog". The "blog" portion is just a script making it easy to generate content and will NOT have a direct impact on the words you are targeting or how high you rank for those words. It also has a slight impact on the rate of indexation. You may get indexed more and faster because you are posting new content (the search engine will keep coming back to your website).