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Cryptocurrency discussions / If you want your ICO to be successful in the Korean market, please read this
« on: July 14, 2018, 08:44:31 PM »
So a lot of projects and ICOs ask me how to be successful in the Korean market. The Korean market is big and it’s even a relatively bigger market in cryptocurrency considering that our country is much smaller than China and the United States. Yes, Koreans are very interested in blockchain technology and cryptocurrency. And honestly, Koreans have been willing to invest in riskier investments even before the crypto. For example, if you look at markets for futures and options, you will realize that it’s unnaturally big in Korea.
So if you want to be successful in the Korean market, at least do following three things.
1. Get a good translator for ANN, Website, and documents.
You know what turns off any rational investor? Auto translated documents that look like some propaganda pamphlets from North Korea.
2. Get a good community organizer and focus on Kakaotalk
Most Koreans use Kakaotalk. Yes, some use Telegram, but most people still don’t even know what Kakaotalk is. In addition, you need to have a good community organizer who can answer some tough questions. The community organizer’s reputation is directly related to the success. Even if you have to pay more, hire somebody that worked in major companies or been active in blockchain community. Even if it costs 20x to hire these people, you will not only get 100x in investment, you will also get potentially high-quality partnerships.
3. Mention something specifically about Korea
Most ICOs do not do this but writing a personalized message to Korean investors (or potential ones) can strengthen their trust in your project. Many overlook this part. Spend 10 or 20 minutes writing a good letter talking about why you think the project will be crucial and how you want creative people of Korea to join your project. You can ask your professional translator to translate it for you.
Now obviously, there are many other ways, but I feel like too many ICOs are focusing too much on getting famous bloggers, Youtubers and etc. Yes, they are important too but get basic down first.
So if you want to be successful in the Korean market, at least do following three things.
1. Get a good translator for ANN, Website, and documents.
You know what turns off any rational investor? Auto translated documents that look like some propaganda pamphlets from North Korea.
2. Get a good community organizer and focus on Kakaotalk
Most Koreans use Kakaotalk. Yes, some use Telegram, but most people still don’t even know what Kakaotalk is. In addition, you need to have a good community organizer who can answer some tough questions. The community organizer’s reputation is directly related to the success. Even if you have to pay more, hire somebody that worked in major companies or been active in blockchain community. Even if it costs 20x to hire these people, you will not only get 100x in investment, you will also get potentially high-quality partnerships.
3. Mention something specifically about Korea
Most ICOs do not do this but writing a personalized message to Korean investors (or potential ones) can strengthen their trust in your project. Many overlook this part. Spend 10 or 20 minutes writing a good letter talking about why you think the project will be crucial and how you want creative people of Korea to join your project. You can ask your professional translator to translate it for you.
Now obviously, there are many other ways, but I feel like too many ICOs are focusing too much on getting famous bloggers, Youtubers and etc. Yes, they are important too but get basic down first.