There have been rumors as to Facebook charging for years. While they claim they will never charge for your profile or basic page, they just went public and are seeking ways to monetize (make money from) their network so they can bring in more profit for their investors. This is where sponsored posts come in.
As a business owner or blogger, you most likely have or need to start a Facebook page to connect with your current and potential clients, customers and readers. While the idea of Facebook charging for advertising is not new, and they did have the sponsored stories feature, the idea of prompting you to pay to promote a page post is new for small business owners. (Larger brands had the opportunity to test the feature in beta). Even now, you still need 400 fans to access this feature.
Facebook claims that paying will promote your post to more people than would have normally seen it. However, early reports from small business owners have shown decreased page traffic if they select not to promote the post. Then there are some who claim that regular posts got the same amount of traffic as paid posts. Overall, the general consensus so far seems to point to the fact that people are not happy with the current offerings of this feature. I think it’s fair to say that people would hope to have the same traffic as before if they choose not to promote and that if they do choose to promote, they would see a lot more traffic on their posts.
How exactly does the feature work? Well, you go to post on your page and select the Promote dropdown button next to the privacy button. You select your total budget to promote and the campaign will run until it reaches your budget limit. You will be billed through PayPal or credit card. If you pause or delete the post, then you only pay partial. If you want to edit it, only the admin who created it can edit it. You can go back and promote posts up to three days old.
For instructions and more info, you can check out what Facebook has to say about promoting this way here: https://www.facebook.com/help/promote
What are your thoughts on this new move from Facebook?