The most critical step for a campaign is to assign a budget. There are two budgeting options:
- Daily Budget
- Lifetime Budget
Daily budget is the one being spent on the ads daily. Facebook can automatically optimize your budget by spending 25% more than your daily budget on the days of higher potential opportunities and vice versa. On the other hand, the lifetime budget is the one that is automatically but unevenly divided on the campaign dates by Facebook. You have to set the campaign dates for Facebook to decide the spent each day.