If you're not sure what Reach and Frequency buying is, you can read up here!
Let's start by selecting the option in the Campaign Creation Flow to filter out objectives not available with Reach and Frequency Buying, right there:
As you can see, only the Traffic, Conversions, App Installs, Reach, Awareness, Engagement and Video Views objectives are available.
After selecting your objective, the flow is very similar to the usual one:
Build your audience (remember that it has to be above 200,000 people, but under 300,000,000 to work)
Design your creative or choose one from your timeline
The settings step is where it changes again:
Here, you won't be able to turn off the campaign, as once you're booking a Reach and Frequency campaign, you can't turn it off.
Start and End times are mandatory, and will impact the predictions Facebook is going to provide for your campaign.
In the Advanced settings, don't forget to choose one or several ad formats, to open up more options for your campaign. Be wary that if you choose a specific format and your creative is not adapted for it, you will encounter an issue.
Remember to set a frequency cap for your campaign: they limit the number of times people will see your ad for a specific number of days. But you can also reduce the number of days between the limit to play with this feature.
Don't forget to set the Optimization Goal and the Billing Event (what you're paying for), as well as the Pacing type.
Once you're done, you can move on to the Predictions screen!
From this screen, here's what you can do:
Versions: You can add several versions to compare the performance depending on several metrics.
To impact the versions, you can change the Frequency Cap of one, the Start and End Time of another one, or the placements you selected in the beginning.
For all of the Predictions, you will have an array of visuals, presenting the frequency per person, spent per day, and placement distribution.
You can move back to the Audience step if you decide to edit it, simply clicking on the "edit" button.
You can change the total budget of your ad set, again impacting the final results of your Reach and Frequency campaign.
Once you're satisfied with one of the predictions you've created (there can be multiple per ad set), select the one you want to go with for each ad set, and simply click next to go to the Summary!
Check one last time if you're satisfied with your campaign, and you can create it!
Remember, you can't stop a Reach and Frequency campaign after starting it!