Facebook began rolling out its promoted posts feature recently, a way for businesses to reach a wider percentage of their fans.

Idea Marketing Group Facebook did a little research to find out what is involved in marketing your business this way. Simply put, the promote posts feature allows your business exposure to more fans by paying to promote a post.

Not everyone has access to the feature yet. If it is available on your page, you will see the “promote” option below your empty status box update. You’ll have to be using Facebook as the page to use the feature.

When you promote a post, it gives you a range of options for how many fans would see the post, and the cost structure goes up accordingly. The post is still only visible to your fans. Similar to the normal newsfeed structure, if your friends interact with the post, it becomes visible to their friends.

Only new posts can be promoted this way. You cannot go back and promote older posts, unless of course you repost the material.

This article from Marketing Land offers detailed instruction on how to use the feature. The prices range from as low as $5 to as much as $300 per post, depending on the size of your audience. The posts will last up to three days in your fans newsfeeds.

If you have put a lot of effort into building up your Facebook audience, this could be a good tool to reach more fans with your business’s most important news.