Loss Aversion Tournament

Step 1: Setup

• Materials Needed: Flip charts, markers, scenario cards outlining hypothetical marketing challenges, "Rebel Unravel" cards highlighting loss aversion and related biases, and feedback forms.
• Room Preparation: Arrange tables or workstations for each team, ensuring easy access to materials.

Step 2: Briefing Participants

• Explain the concept of loss aversion and its relevance to marketing and customer engagement.
• Introduce the game's objective: to develop marketing campaigns that emphasize potential losses to drive customer action.

Step 3: Scenario Introduction

• Present teams with a hypothetical marketing challenge where they must create a campaign to promote a product or service.

Step 4: Ideation Phase

• Teams brainstorm ideas for marketing campaigns that highlight potential losses customers may incur by not engaging with the product or service.

Step 5: Campaign Creation

• Teams develop their marketing campaigns, focusing on messaging that emphasizes the negative consequences of not taking action.

Step 6: Pitch Preparation

• Each team prepares a pitch for their campaign, outlining key messaging points and strategies to leverage loss aversion.

Step 7: Campaign Pitch

• Teams present their marketing campaigns to the group, highlighting how they utilize loss aversion to drive customer engagement and sales.

Step 8: Peer Feedback

• After each presentation, teams provide feedback to one another, offering insights and suggestions for improvement.

Step 9: Expert Panel Review

• A panel of facilitators and invited experts evaluates each campaign based on creativity, effectiveness, and alignment with loss aversion principles.

Step 10: Winner Selection

• The winning team is selected based on the panel's evaluation and feedback from peers.

Step 11: Debriefing

• Facilitate a debrief session to discuss the strategies employed by each team and the effectiveness of leveraging loss aversion in marketing campaigns.

Step 12: Reflection and Learning

• Encourage participants to reflect on the insights gained from the game and how they can apply them to their real-world marketing efforts.

Step 13: Feedback Collection

• Gather feedback from participants on the game's format, engagement level, and learning outcomes to inform future iterations.

Step 14: Follow-Up

• Follow up with participants to see how they have applied the strategies developed during the game in their marketing initiatives.

Step 15: Celebrating Success

• Recognize and celebrate the winning team's achievement, as well as any notable contributions from other participants.

Step 16: Continued Practice

• Encourage ongoing exploration and experimentation with loss aversion and other behavioral principles in marketing campaigns to drive continuous improvement.

The Loss Aversion Tournament offers a dynamic and competitive environment for teams to explore the persuasive power of loss aversion in marketing, fostering creativity and innovation in campaign development.