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Your boosted post only widens the reach of your regular post, whereas a Facebook Ad lets you set a specific objective: reach, engagement, views, etc.
For ads linked to a page that sells products (Facebook catalog), you can also use conversion objectives.
for mobile/web apps, you can aim for app installs.
For external websites, you can have reach/views/landing page views/Add To Cart, Initiate Checkout, Purchase objectives, etc.
Now that’s only the goal, but Facebook Ads let you target specific audiences with specific interests: 25-28 years old males in a 60 km radius around Berlin who recently traveled, for example.
You can also target people that have interests in archery and recently bought items online, people that like XYZ celebrities, etc.
Facebook ads also let you set up “Offer ads” (coupons) and lead generation ads, where people will enter their email and any other info you want. To gather leads.
If you need more detailed info try here: