Tools like reverb, delay, distortion, and EQ are important for making sound effects sound like they really belong in your scene. Premiere comes with an array of audio tools that can be found in the effects panel and applied either to individual clips or to entire tracks at once via the Audio Track Mixer. 

A newer feature in Premiere is the Essential Sound Panel, which is a more user-friendly way to process sound clips quickly for those who might be unfamiliar with the nuanced effect settings. This panel can be found by clicking Window → Essential Sound.

Navigate the Essential Sound Panel by first highlighting audio clips in your timeline and selecting the appropriate audio type in the panel. Depending on your selection, Premiere will then offer presets and effects sliders that make it easy to experiment until you get the sound you desire.