Search Engine Marketing
SEM is abbreviation of Search Engine Marketing, it can help websites get more clicks and visitors through optimization or internet advertising. SEM is a complex technology ,SEO is including in SEM also as PPC and etc.
SEO
SEO is a sub item of SEM, it just promote search engine results pages by optimization(including in-page and off-page) website content and external environment.
The commonly methods of SEO are website content optimization and external links building. A well SEO can improve website's search engine results rank and bring more customer and page views. But bad SEO(Black Hat) will damage your website, even your website will be killed by Google.
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Online advertising
Online advertising is a quickly way to promoting your website on internet, you just need to buy some keywords advertising from some AD agencies (Like Google Adwords or Microsoft adCenter), then you can get continuously high quality visitor to you website. They are many methods of online advertising, the popular method are PPC(pay-per-click) and CPM(cost-per-thousand).