If you have previously worked a specific trade show, build upon your experience of that show and reprise your game plan when it is presented in the same exhibit hall again. Were you satisfied with the amount of traffic and the number of quality leads? If so, leave well enough alone and guard your secret diligently. If your results were less than stellar, maybe it's time to try a new strategy.
Look closely at the floor plan for the show. This is most likely available online. Look for familiar companies and see where they position themselves. Most shows have similarly themed companies grouped together. You don't want to set up too close to a competitor, but you also don't want to isolate yourself and make it hard for visitors to find you.
Do not choose a space right at the entrance of the main hall. You will receive a flood of traffic all at once that will overwhelm you and then everyone will pass on by. When visitors have seen the rest of the show, they will be tired and probably have little time to stop and talk to you on the way out. Do not choose a space that is close to restrooms or a food court. Things like that have a tendency to distract people. Do not choose a space in a side hall that is connected to the main hall by a door or hallway unless you just want some quiet time to reflect on your thoughts.
Take advantage of a space drawing for booth availability if it is provided and try to choose a booth that is close to the end of an aisle and near the front of the main hall, but at least two or three aisles away from the entrance. Choose the side that faces early morning traffic so that you attract the people who just rushed the entrance and then slowed down after passing the first few aisles to look around. Use a company sign that is very specific in describing what your company offers.
Spend some time walking the show and take note of which companies have the largest crowd and how much time people spend at the booth. It is a good idea to set up near them next time, but not directly next to them. You want to benefit from the substantial visitor traffic, but you also don't want potential customers' attention drifting to a nearby busy booth. Also pay attention to the companies who have annoying attractions or people in their booth. Avoid setting up near them in the future. Annoying people usually don't change their habits year after year and nothing is more aggravating than to have a talkative exhibitor from another company in your booth, distracting you while valuable potential customers size you up and then keep walking. If you are a small company and you transport your own booth equipment and set it up yourself, pay attention to the proximity of the loading area to your booth. Exhibiting near the loading area can make a huge difference to you on the first and the last day of the show.
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