Placement refers to where your ad will be shown across the Facebook network.
As seen above, Facebook provides 3 options for placement. For first time ad managers and new campaigns Automatic Placements is the best option.
Determining your budget is fairly straightforward, simply take the total amount you’re looking to spend throughout the entirety of your campaign and divide by the number of days to find your daily spend.
Pro Tip: When it comes to ad scheduling and delivery type, it’s best to leave as open as possible when beginning a new campaign. This will allow you to capture the maximum amount of data thus allowing you to make well informed decisions for future campaigns.