My manager periodically runs contests "stretch weeks" throughout the year in an effort to boost sales. We see a spike in sales but also a dip just prior to and after the contest. This is due to the staff holding their best leads and customer renewals for the contest week. My manager and I are in disagreement as to whether there is a benefit to continuing this practice.
I have acquired two years of weekly sales data. My question is what would be the best way to determine if we actually benefit (monetarily) from stretch weeks?
I have applied a 3 and 5 week rolling average to smooth the data, but am at an impasse as to how to take that information and say we make (or lose) $X by holding the contests. If that is even the best approach.
Your assistance is greatly appreciated.
I have acquired two years of weekly sales data. My question is what would be the best way to determine if we actually benefit (monetarily) from stretch weeks?
I have applied a 3 and 5 week rolling average to smooth the data, but am at an impasse as to how to take that information and say we make (or lose) $X by holding the contests. If that is even the best approach.
Your assistance is greatly appreciated.