Regular users can now promote posts on Facebook
You don’t have to have a brand page to promote posts on Facebook. As of now, any regular user can promote posts to others for just $7.00 per promotion on Facebook.
The Promoted Post option if you ever elect to use it, will appear in your Newsfeed as a Sponsored Post. The Sponsored Post will then allow the post to be seen by everyone who is your friend or subscribes to you, so it gets a higher placement in your audiences feed. It’s good to keep in mind that if you are a Friends Only user (and don’t have subscriptions turned on) it will only show to however many friends you have. It’s not the same thing as an actual advertisement on Facebook, where those show on the right hand column as Sponsored Ads.
Tumblr actually does a very similar offering, where you can pin posts for $5 which promotes your post to the top of your feed and your subscription list. To pay to promote on Facebook, simply click on Promote under any of your posts, and you will see the window below to enter in credit card details to pay $7 to promote your posts.