Facebook New Promoted Posts Feature is Showing up on Facebook pages

According to a couple of sources out there in the internet, Facebook has started to roll out the Promoted Post feature for Brand Page administrators. Whenever the feature arrives for you and yours, you'll notice a new "Promote" option next to the box where you type your status update which is next to the blue "Post" button.

Essentially, the purpose of paying to promote your update is to reach a larger audience. Upon clicking the "Promote" button, you'll be presented with a menu of pricing options. The prices to promote a post are staggered based on how much of a reach you want for your post. If you're aiming for the fences, for example, you can pay $20 to reach about a wide audience of Facebookers who have liked your Page.