You've probably noticed that Facebook has been rolling out updates to your Timeline over the past few weeks. Of course it is. But what does the new change mean for your profile? More importantly, what does it mean for your business?

The biggest difference to timeline is that information about you is now situated in a column to the left of your actual Timeline. As users scroll down your profile, they see what movies you like, what games you play, your employment information, and more.

Facebook’s key advertising strength has always been its ability to turn friends into mini-marketers: people join Facebook pages for movies or new products because they see that their friends like those products. The new redesign effectively allows Facebook to advertise dozens of your favorite pages to your friends every time they visit your wall. As Tech Crunch put it, “getting people to share more […] gives Facebook valuable ad targeting data about what people do, not just what they Like.”

We, personally, are pleased by the new changes. But as always, when it comes to social media, functionality will always win out. One of our clients hosted a Google+hangout yesterday for training purposes and noted how productive Google+ is. Users can literally host an entire meeting for a club or business — sharing screens, making drawings, and editing documents in real time. Google+ might not have as impressive an interface as Facebook’s new Timeline, but it allows people to do more, which mean that they will spend even more time using Google+. Google may, in turn, create a modified timeline of their own to monetize new traffic more effectively.

And remember: a person never has more than one “one-stop” network. Myspace collapsed because users opened Facebook accounts and simply stopped using Myspace. That suggests that as Google+ gains new members, Facebook may begin losing members, regardless of how beautiful their Timeline is.