I hate the way the promoted page is set up. Yes. You just wasted your 1SBD...

If you look at the promoted page, and click the little dropdown beside the potential payout for a post on that page, you will see a stat called Promotional Costs

That page gets sorted by how much you spend to promote it. If someone spent 1.001 SBD, their post would sit right above yours in that feed. Unless you've got a ton of money to spend on it, and something that you KNOW will earn a shit load of money on that promoted page, you'd be better off giving that money away to someone...