Sorry to resurrect this thread, but I recently returned from a long hiatus (had to get a degree), and I've been re-evaluating my own strategy, which includes how I use Facebook.
I discovered what many have discovered: original content works. However, I did notice this: the semi-recent changes took a huge chunk out of my visibility if any of my posts looked like "sales" posts to Facebook. Even when I shared it to my personal page, or just did an original post to advertise on my personal page, I found the reach was not I had hoped. I asked my friends directly in a separate post (that contained no keywords to flag it), and suddenly a bunch of people were like, "I never see you advertise for your book." Only if I messaged them directly (like when I contacted some of my beta readers and slipped them the coupon code for a free book) did they see anything. (Likewise, I do not see many advertisement posts from small businesses or indie communities I follow.)
I am currently testing other features of Facebook that don't require me to pay their ridiculous advertisement fees: tagging my page with interests (it's somewhere in settings), and using the "Offer" post creator. It has made a slight difference. I have yet to encourage people to adjust their "follow" settings, mostly because my spouse has all of my posts on priority (he is the best!), and he STILL doesn't see the advertisements, just like I don't always see all of his posts.
Granted, my Facebook likes are low, on account of me putting a lot of the "brand myself!" work on hiatus, but I do check my numbers, and I do check my reach.
I am leaning toward keeping it, but not spending valuable time on it. Facebook is a huge platform, but if you are spending your time on there instead of a platform that fits the original content you create, I would just have everything auto-forwarded. Let it be the portal that leads FB users to your home base, but focus your energy on the blog you enjoy the most. FB is about stolen memes from Twitter and Tumblr, cute pictures of your friends' kids, and under-researched political posts, mostly. That is not always the platform that works for creative folks like us, and with us having to play a guessing game with algorithms, it's not the most efficient when we can use platforms that don't involve so many invisible-to-us variables.