When installing you can issue a:
mount -o remount,compress=lzo
Often you will have to do it just as the installer starts installing stuff (maybe you will miss a file or 2. but no biggie). You could check to see if the installer has already mounted the filesystem just before the install stage.
Also make sure you update the /etc/fstab on the installed system. I use the following options that give some other improvements:
compress=lzo,ssd,relatime,space_cache,inode_cache,autodefrag
You can also try using compress-force=lzo for the install rather than compress=lzo, it makes sure that even files that don't compress that well are still compressed. That would make writes slower but since it's a one time install that might be worth it. But I'm not sure if it improves reads or not.
I have seen another way that involves renaming the mount.btrfs binary and replacing it with a script but when I did it under Ubuntu it messed up as it normally installs to subvolumes @ and @home but everything just got dumped to the root of the filesystem.
Alternatively you can install and then use the defragment, but you must defragment every file individually as the command isn't recursive. This could come in handy to upgrade to the new compression methods that are likely to appear in the newer versions of btrfs, snappy and lz4. Run the following from the / directory.
find -xdev -type f -exec btrfs fi defrag '{}' \;