Facebook ad campaigns involve 9 key steps: 1) developing a strategy, 2) choosing an objective like reach or engagement, 3) naming the campaign, 4) targeting the audience, 5) choosing where ads are displayed, 6) setting the budget, 7) selecting an ad format like images or video, 8) providing details like calls-to-action, and 9) carefully monitoring the ads' performance. Choosing the right objective that aligns with campaign goals and targeting the optimal audience are especially important for campaign success.