One question that I’m being asked more and more is, how can reverse mortgage companies use social media to help build their business?  That’s a tough one.  I’m all for using social media tools to distribute content because users want to consume things in different ways but I’m not totally sold on using tools like Twitter and Facebook to generate reverse mortgage business.  Then again, what do I know? 

According to usage statistics released by independent blog Inside Facebook, the number of US women over age 55 using Facebook grew by 175.3% since September 2008, making mature females one of the fastest growing demographic groups on the social network.

The number of men over age 55 also grew dramatically during the same four-month period (up 137.8%), but women over 55 still outnumber men in this age group by almost two-to-one.

Also, Time Magazine recently published 10 Reasons Why Facebook Is for Old Fogies.  Does this mean Facebook is going to be the new way to generate reverse mortgage leads?  Doubtful, but data like this shows that baby boomers are using the internet more and more, so you shouldn’t ignore it.

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