The most striking change is the cover photo. The Nike swoosh in the screenshot above is your standard profile picture. You now have the capability to designate a larger photo as your cover photo which fills the width across the top of your page. The possibilities are endless, but Facebook does have a few rules which you can learn about here.
Some other features of timeline are the ability to specify images for your custom tabs and to pin posts to the top of your page. Take advantage of this to highlight current offers and other important information. You now have more control of what is featured on your page, but you no longer have the ability to specify what tab users will see when they open your page. If you have set up a “Welcome” page, be aware that users will no longer see that first.
You can now go back and add events in the past to your timeline as well. Important milestones and events in your company’s story are now easy for your visitors to see.
Constant Contact has a photo page of 35 striking cover designs and Ad Age Digital also recently put together a sampling of what some big brands are doing with Facebook timeline. Take a look for some inspiration.