Serengeti Communications Discusses How to Reach Seniors Using Social Media

Last week I attended SES Chicago, one of the leading conferences in the search marketing industry and the last conference of 2009. As part of the conference, I attended a panel sponsored by Serengeti Communications on Social Media. I asked them how they recommended marketing to seniors—is social media something that can be used to reach seniors? The response I received was a resounding yes.

Liana Evans, Director of Social Media at Serengeti, reminded the attendees that the fastest growing group on Facebook is women over the age of 55. Seniors tend to be very active in Forums. Eons is a site just for women over 55, and one that is growing rapidly. She reminded the group that, “It’s about what’s in it for me.” What is the benefit to the senior of being a part of a particular community or sharing their experiences? In addition, usability was stressed as an important aspect when marketing to seniors. Can they see it? Older audiences tend to need bigger fonts. Is the contrast good enough for seniors? A light font on a dark background or two similar colors might be sub-optimal. Is it easy for the senior to share? The panel advised those present to therefore focus on usability, not search. The question at hand should be, “Can you make it consumable for your audience?” If a site is consumable, the rest will follow.

The panel then discussed how to engage users who are not tech savvy or only have limited online access. They recommended that companies start with those who are already online, utilizing email or Facebook. Then research where they are and what they are doing. Seniors are online, but their behavior is different than other demographics. Attendees were advised to figure out where the conversation amongst seniors is already taking place noting that people, especially seniors, are reluctant to leave the communities they are already involved in.

With more and more reverse mortgage companies turning to the Internet as a way to reach potential borrowers, Serengeti’s advice is a helpful reminder that the Internet is no longer just for those under 55. However, many potential marketing possibilities have yet to be tapped.

Life Becoming Harder for the Elderly in Rural Areas

A heartbreaking article in today's New York Times focused on the plight of elderly people living (often alone) in rural areas. Calling their situation a "plight" is controversial- many of them clearly have chosen their lifestyles by choice. Nonetheless, access to medical care and companionship in aging towns is low. One of the people profiled in the story is a 96 year old man who drives 8 miles each day to have lunch at the senior center in town. However, he worries that he will be unable to pass the test to renew his drivers license, isolating him. The fact that populations have aged to such a degree is something that many might overlook.

In Northwest Nebraska, some counties have median ages of 45-50, more than 10 years older than the national average, and are some of the oldest places in the country. While the news that rural America is starting to die out and age is not exactly new, it's still important to recognize. As Congress debates cuts to healthcare that are likely to disproportionately affect seniors in rural areas, it's important that awareness of these issues grow. While reverse mortgages may be able to help some of these seniors, without the necessary resources and services, financial sustenance no longer becomes the issue.

The Role of Reverse Mortgage Loan Officers in Spotting and Reporting Elder Abuse

This morning Reverse Mortgage Daily published an article I wrote on Elder Abuse. The piece covered the session on Elder Financial Fraud at the NRMLA Reverse Mortgage Annual Conference in San Diego last month. The comments on the piece on Reverse Mortgage Daily raised an interesting question: What role, if any, should loan officers have in spotting and reporting elder abuse? Clearly, it is not the main purpose of their job. But I do think that loan officers are in a unique position to spot and report elder abuse. They often visit a senior's home, and, in seeing the condition of the home and learning the senior's financial information, can be exposed to red flags that an outsider might not see.

Someone compared elder abuse to the difficulty spotting child abuse when a child is beaten, but I do not think they are anywhere near the same thing. The question of corporal punishment for a child by their parent is very different than cases of elder abuse. Elder abuse involves seniors, many of whom are frail, incapacitated, or otherwise dependent on their child. I have a hard time thinking of a situation where slapping a senior would ever be seen as appropriate, but this question is not related to elder abuse, especially elder financial abuse.

Some of the clearest elder abuse cases involve seniors living in squalid conditions, being deprived what they need for survival. A home visit will reveal those things, for example. Elder financial abuse may be harder to spot, but if the senior does not understand the product and/or the child is planning to take all the money, those might be red flags.

While spotting elder abuse may not be part of a reverse mortgage loan officers "job description," they are in a position to make an impact. By educating them and empowering them to do so, they might be able to make a difference in the lives of some seniors who need help. And isn't that what a reverse mortgage is supposed to do anyway?