In late June, Google entered the social media race (for a third time) with a Facebook-like social networking platform called Google+. Whether businesses like it or not, Google+, sometimes referred to simply as G+, will join the main tier of social networking platforms such as Facebook, Twitter, LinkedIn, and Foursquare.

While not public, you need to receive an “invite” from an existing user to setup an account. Google+ has over 10 million users and will likely triple or quadruple those numbers before they publicly release the platform. Google+ is currently the “bright, new, shiny thing” in social media. Early adopters and hard core social media users are flocking to it.

To get a great overview of the details of Google+, I recommend this article. Another good source is Pro’s and Con’s summary from the technology news site, Mashable. Google has asked businesses and brands to refrain from making accounts. Very soon, however, Google will be rolling out their business platform and every indication is that it will be as innovative as the personal side. Bottom line: it will be worth the wait.

Will Google+ be the prophetic “Facebook killer” platform? No. Will it be a serious game-changer to social media and even search engine performance… Google+ is still Google? Yes. Question is; how will this changed game impact your business?

Google+ will impact your business the same way social media is impacting your business (whether you’re participating or not)—by content. Consumers are talking about you, your industry, and your products or services. The question isn’t whether your business will be involved in social media, but how effective will it be in social media?

Social media for business is really about three things:

Interests: Social media gives consumers of similar interests the ability to congregate in fixed areas. Your business, whatever your business, may be a part of these interest communities and should be a well-known player.

Eyeballs: Social media is a captured audience. Their eyeballs are going to Facebook, Twitter, and LinkedIn on a regular basis. With the mobile-use explosion over the last 18 months, Facebook users are on 4-6 times per day. Even more for Twitter, but less for LinkedIn. What are you doing to capture these eyeballs?

Engagement: Consumers are conversing, sharing, and recommending. Social media gives consumers a platform to not only express their opinions, but to have those opinions count by people “just like me.” Are you a part of this conversation? Are you at least listening?

So what do those three things have in common? Content. Good content is what drives effective social media for business. Content defined by participation in social media conversations (note: actual personable conversations and not simply screaming, “Buy me! Buy me!”), timely or responsive articles/posts about your interest community, and good, old-fashioned news writing.

Google+ has two specific, content sharing features that will impact how your business and your interest community: Circles and Sparks.

Circles is an easy, visual way to organize friends, acquaintances, and connections (see video below).

As a business, this will be a crucial way to organize and be organized in your brand message. Imagine tailoring your social media messaging in the same fashion you organize and tailor your email marketing messages. No more generic social media blasts that only matter to a fraction of your audience. Note: this also means your content needs to be equally as targeted and organized.

However, Circles also mean that the bar is set much higher to “earn” your place in a consumer’s Circle. What are you bringing to the table that makes you both real and worthy enough to be placed inside your consumer’s circles. In other words, how does your business do in developing relevant, targeted content?

Sparks is visual way for users to organize news and updates from the web. Imagine a non-geeky RSS feed (see video below).

For businesses connecting with consumers, being a part of their interest community means delivering relevant content. Sparks brings an easy, effective way for your interest community to share and rate your content or news.

Between Circles and Sparks, suddenly the total quantity of followers or connections matters a lot less. Quality and relevancy of content become supreme. That, at its heart, is why Google+ will matter to businesses and brands. Facebook and other social networking platforms will cherry pick the functions and features that work for Google+ and integrate them into the more popular platforms.

Whether Google+ becomes the all-powerful social content network some say or the total flop others predict doesn’t matter. The idea behind the new features is what has the largest impact. Marketers have been pushing “Content is king” since the rise of social media, but now it looks like content will begin to truly seize power in brand-consumer relationships.

Other recommendations:

Mashable: Businesses Shouldn’t Create G+ Profiles Yet

AdAge: The Surprising (Content) Future of Google+