Facebook, the largest social networking website will have a new look very soon. Many users have been flocking to use Twitter so I assume Facebook had to react fast before losing market share. Facebook had failed to make a purchase of Twitter just recently too. The problem with these social networking sites is that it is very hard to monetize. For example Facebook has a very large audience but people using the site do not really view or click on the ads. As an example most advertising companies place a web campaign on a targeted website; like a newspaper website (New York Times). The advertiser knows how many page views they will get on any given time at the newspaper site. You basically choose when people see it. Social media like Facebook's website is totally dependent on the user choosing to view or read the ad. If the advertising is not relevant to the Facebook user it will not work. This is what makes it difficult for advertisers to measure. Also Facebook is Global and having a targeted demographic specific campaign can be more difficult for advertisers. Most marketing and advertising departments focus regionally and locally. Now this will have to change to reach a truly international audience.
Getting back to Facebook's new look, it will offer some big changes. The mini-feed and Wall will be the new focus. Pages will now be able to share status updates (short blurbs). These updates will be visible on the Wall tab. Posting updates on your Wall will be automatically updated on your fans wall, which increases your interaction on your site and it is more viral. So if you post a funny video, or have a great link to a website. You will be able to spread to a lot of people in a short time. This is very similar to Twitter. So it should be interesting if most Facebook users will like this new change. Only time will tell.