New Google +1 can potentially change the SEO as it’s nit just another button to be placed next to Facebook, Twitter and Linkedin. Google +1 button will show how people liked and +1’ed your website. So before you click on a link in Google search your decision might be influenced by the +1 button. Perhaps in the future numbers of +1 clicks will be visible on the Google search results page.
The Google +1 is currently used on Google organic search and Google Adwords search results. This feature is for all pages of your website which makes it’s important to have it placed on all pages of your website and all blog posts of your blog.
Anyone with a website with good positions on Google already needs to take action immediately with +1 to get the jump on their competitors and make sure they keep their position: as with organic results how often your result is clicked on when showing for particular keywords does have some bearing on your position in results for that keyword.
From an SEO point of view building up +1s will be important to boost positions quickly and could therefore be an affordable SEO option and help out smaller businesses compete with big budgets of larger competitors.