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Marketing Strategies for Promoting Escrow Services in the Financial Market
Nesterenko O. O., Ponomarenko V. O.

Nesterenko, Oksana O., and Ponomarenko, Vitalii O. (2025) “Marketing Strategies for Promoting Escrow Services in the Financial Market.” Business Inform 1:486–496.
https://doi.org/10.32983/2222-4459-2025-1-486-496

Section: Management and Marketing

Article is written in Ukrainian
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UDC 658.8:336.77

Abstract:
Studying the mechanism for implementing escrow accounts in Ukraine is of significant relevance, as their use will contribute to the development of the economy, increase the level of trust and security in online transactions, and ensure efficient protection of the rights and interests of market participants. The aim of the article is to develop and substantiate efficient marketing strategies for promoting escrow services in the financial market of Ukraine, taking into account the specifics of regulatory legal regulation, the current state of the market, and the need to build consumer trust in this financial instrument. The article analyzes the main regulatory documents that govern the organizational and methodological provisions for opening an escrow account, and provides a detailed description of the process of executing a transaction using an escrow account in accordance with legislative regulation. It is proved that in the context of increasing competition among banking institutions and the potential expansion of the use of escrow accounts, the development of efficient marketing strategies becomes a key factor for the successful implementation and popularization of this financial instrument. Approaches to the interpretation of the concept of «marketing in the financial sector» have been analyzed, and key aspects present in most definitions have been identified, namely: meeting customer needs; development and promotion of financial products; management of customer relationships; market analysis. Based on the analyzed literature, it is proposed that a marketing strategy for escrow services be understood as a comprehensive action plan aimed at the efficient promotion and development of conditional deposit services in the financial market. Key factors have been allocated that require the promotion of escrow services, namely: increasing competition in the banking sector; heightened demand for personalized experiences; rapid development of digital technologies and changing consumer preferences. To visualize a comprehensive approach to the marketing strategy of escrow services, an integrated marketing strategy has been developed to promote escrow services, reflecting the interconnection of key areas of marketing activity, each containing specific tools and approaches for promoting escrow services. This will ensure a systematic approach to marketing activities and take into account all aspects of interaction with potential and existing clients by enhancing trust in escrow services, increasing the number of users of escrow services, raising awareness of the benefits of escrow, individualizing offers, expanding partnership programs, and improving promotional efficiency.

Keywords: escrow service, escrow account, financial market, marketing, integrated marketing strategy, banking institutions, agreement.

Fig.: 3. Tabl.: 1. Bibl.: 21.

Nesterenko Oksana O. – Doctor of Sciences (Economics), Professor, Professor, Department of Management and Administration, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Ponomarenko Vitalii O. – Applicant, Department of Finance, Banking and Insurance, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

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