North also discussed the challenges and advantages of Mint marketing around its price point of $15 per month—an introductory rate for several plans and one of its key marketing pillars alongside spokesperson Ryan Reynolds.
“You would expect as prices of all goods have gone up over the last eight years that we would have to raise prices,” he said. “But we didn’t, so you would think the service must not get enhanced because how can you add value if you keep price the same … Mint has increased its data allotment at that $15 price point three separate times. The product got better and the price stayed the same. This puts pressure on the brand.”
Consistent pricing has allowed Mint to stand out, North said.
“The opportunity was to really own that $15 price point,” he added. “We continue to work to be creative on how we get that $15 price point out there and how we bring people into the fold. There’s no plan to raise the price.”