Ad scheduling with a lifetime budget on Meta is a feature that allows advertisers to set a spending limit for the entire duration of an ad set. Meta will then aim to distribute the spending evenly across the chosen dates. Advertisers can edit their ad schedule by hovering over 'Run Ads All the Time' and clicking 'Edit', then checking the box to run ads on a schedule. This enables them to select specific days and times for their ads to be displayed, based on either the ad account’s time zone or the viewer’s time zone.

To set up ad scheduling for Meta ads, follow these steps:

1. Ensure you are using a lifetime budget for your ad set.
2. Go to 'ad scheduling' and hover over 'Run Ads All the Time', then click 'Edit'.
3. Check the box to enable running ads on a schedule.
4. Choose the specific days and times you want your ads to show, according to your ad account’s time zone or the viewer’s time zone.

Using ad scheduling might not reduce the cost per conversion because it can restrict the algorithm's ability to optimize ad delivery, potentially leading to higher costs. The author's experience suggests that despite conducting deep research and trying to game the system by targeting specific days and times for better cost per conversion, leveraging ad scheduling did not yield the desired results and actually drove up costs.

It makes sense to use ad scheduling for call ads when you have a support team available only on certain days and during specific hours. In such cases, ad scheduling can prevent wasting money on ads that would direct potential customers to voicemail when no one is available to answer calls.