Kris and Dustin are joined by Yoni Mazor from Getida. Getida is a global leader in the FBA auditing and reimbursement space and will find the money that Amazon owes you!
See more about Getida for yourself at https://getida.com/
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– Hello everyone and welcome to Episode 29 of Two Amazon Sellers and A Microphone. Today, Kris and I have a special guest, Yoni Mazor from Getida. Yoni, how you doing?
– I’m doing great, Dustin, how’s everybody?
– Doing well.
– Hanging in there in these crazy times right now, but man are Kris and I are excited to have you on today. So you’re telling me that Amazon owes me money, huh?
– Most likely so, if you sell on Amazon, and you use Amazon’s FBA centers, Fulfillment By Amazon program, good chance that there’s some money available for you to recover.
– Yeah, and now, and I’m excited to dig into all of that. We have so many questions for you just about how it works, the process, I became aware of you guys because Kris joined on, I don’t know, a few weeks ago or maybe a month ago told me about you. Now we’re excited to have you on the show, I’m definitely gonna be signing up after this but before we jump into all that, you wanna give us a little background on you, what you’ve done in previous lives and how you got started with Getida?
– You got it, so first of all I wanna thank you guys again for having me, I’m really excited. Hopefully, it will be fun for everybody to listen to and useful. So you wanna, how far do you want me to dig back ’cause well the hospital I was born or it’s more about. Or more about the Amazon story.
– Yeah, how’d you get into like, e-commerce?
– Got it, okay, that’s about a decade. So about a decade ago I was in school, university, and then I used to sell kind of stuff on the side on eBay back then, 2010, eBay was was still kind of the main event. And around 2013, I think much like you guys, I kind of, I dabbled into Amazon. So it was actually, I was selling by myself, but they partner up with my partner Max, which we’re today, we’re actually partners in Getida as well. So we started our journey as retailers. So 2013, we dabbled into Amazon from eBay and fairly quickly, we grew from zero to 20 million a year in sales, and then we became a part of a larger group that altogether as a group did about a hundred million annually. And essentially even from day one, from the first shipment that we did to FBA just to give some context, in 2013 Amazon was kind of up and coming. So, so when we started selling, we were selling a, with our own warehouse, so fulfillment by a merchant, right? And then we kind of discovered there’s an FBA, okay, what is that program? So we didn’t take it for granted like many sellers do today. Amazon is a beast, one of the most valuable companies in the world. So of course, FBA that’s the track to go. So FBA back then was a bit more of a new concept and so we were very afraid. I remember it was about $10,000 worth, that shipment, and were very afraid, it was a lot of money for us back then. So we said, “If we’re gonna ship it to you guys, what’s your policy? “What if something gets lost, damaged, destroyed, “disappear whatever,” right? So we called it in, even before we did the shipment, we called in to understand the policy. So they say, “Hey, look at this page, “and that page, that’s our terms of service, “that’s our policy, this and that.” So we kind of understood what to expect. So, okay, we said, “All right, “so at least you have a policy, that’s a good start.” We shipped our products in and lo and behold a few units were missing, went missing. So we opened the case with them and we started, Amazon is a very fair organization. They paid us the reimbursement and we said, “Okay, this is something we know we can work with. “These guys are honest and reliable, “we can probably do a lot of business.” Which eventually turned to be the case but that’s just the entry-level beginning issue that most sellers are aware of when you ship your products to the FBA fulfillment center let’s say you shipped a thousand units, and Amazon only received 990 units, that’s what we call inbound receiving discrepancy when it’s inbound and it’s Amazon’s fulfillment center, a few units are missing. So that’s kind of entry-level, most sellers are aware of this, but, in 2013 early back then we realize, okay, that’s the beginning but what’s going on inside the warehouse? Where’s the reports? How can I track and see what’s going on? So then lo and behold, we discovered that once the units are inside Amazon’s warehouse, things tend to get lost, damaged, destroyed, and disappeared, right? And then between warehouses, we discovered that sometimes Amazon transitions your products from let’s say from Kentucky to California, California to Nevada, whatever it is, things happen there. And also from Amazon to the customers, once the customers start making the orders, things happened there, of course, from the customers back to Amazon so all the refunds, there’s issues there, discrepancies and also from Amazon back to the seller when they do a removal order. So we realized that all these logistical friction points, there are issues that we need to keep track and an eye on. So at the early beginning, it was, it was kind of a discovery thing. So where’s all the data located, which is fine once we that was a journey on its own and then how to crunch all the data and process it. And if, and then create a table of all the types of issues we were kind of looking for, that’s how we kind of, that was the early beginning or early Genesis of Getida as we know it today. But essentially what happened was we couldn’t deal with the volume as we were growing volume, we couldn’t use Excel spreadsheets anymore or macros or whatever it is. So we had to kind of build and establish two things. The first thing was technology, right? To take all this mass data on a constant basis and discover what’s going on and put into the algorithm. So that’s the first component of technology. The second component was actually to build a dedicated team to handle all the issues. So discovering the issue is just part of, the first part of the problem what you’re gonna have to do with that data is open a case with Amazon and go with all the back and forth process until you would take it all the way home and get it reimbursed because some cases are low hanging fruits, you open a case, they give you the money you move on or some cases it’s a back and forth process, they might ask you for more information. You know, it can be a BOL, bill of lading or a POD, proof of delivery, all this documentation stuff like that. Or they’re just gonna maybe start rejecting the cases, A, because it’s a new team member, maybe they don’t really understand, B maybe they just wanna hurry up and get to lunch so they’re kind of a, and they’d have KPIs, Key Performance Indicators and how quickly they close cases so they wanna close it. So maybe they’ll reject the claim for who knows what reason, but we can clearly see we have a very deep intimacy with the data so we can clearly see a deficit that needs to be addressed. So if they don’t address it, we’re gonna reopen the case, present it again, maybe in a different breakdown or a different light. And then it usually what happens they say, “Oh, we apologize, here’s your reimbursement.” So that’s kind of the service component where we, we have dedicated teams that are really experts in what the nuance of the data is and are able to get you the maximum recovery. And once again, it was built for our own purposes, right? For our organization. So what happened was once we had these two components built out, we kind of told our friends from the industry that we have these capabilities and so what happened is they told us, “Help us, we’ll pay you.” And that’s really when Getida was created as a business, as we know it today. So for the first two and a half years it just grew organically, nicely on its own just from word of mouth. I guess Kris himself also kind of word of mouth, you know, very recently heard but that was kind of the trajectory we did organically for the first two, two and a half years. And then myself and my partner Max, we were kind of presented with a dilemma. We have two businesses doing pretty well. We got the retail and we got the, what we call technology and services, but we kind of felt at some point that if we’re gonna really choose and pick one, we’re gonna blow it through the roof. So, so with retail, we kind of felt like we blew through the roof and we know how to do things, nobody can take it away from us, but this technology and services, we’re helping so many others, how far can we take this? How much more can we go? So we made a strategic decision, we cashed out of our retail positions. We made our full focus on Getida, and since then it was like almost like a volcano effect, it just erupted because our full dedication, mind, capacity, skill, creativity, talent, would just be dedicated to this purpose and it was a great relief and we’re very thankful that we had that opportunity.
– That is a cool story.
– Yeah, I hope I didn’t start to get too strong, you know?
– No, no.
– This is great. Fascinating, you obviously, were more in tune with what was going on early on in your business in terms of how Amazon was receiving your products et cetera, than I was. I trusted, I have, interestingly, when I first started, it was probably about a year into it. Amazon, for the most part, notifies you that they’ve automatically gotten some reimbursement for you, so you have this feeling that they’re on it.
– I wanna touch that point, Dustin, it’s really, really true. So what happens is just to be fair, to give more context, Amazon automatically reimburses you for stuff that they find, they automatically find. But if you look closely into their terms of service, they tell you that. But they also tell you, we’re gonna automatically reimburse you for stuff that we find, but we need 30 days for that. After 30 days, anything that we missed it’s up to you the seller to audit us, check us out and open it, and if you find something, open a case, we’ll take care of you. And that’s kind of the rules of the game, which most, the overwhelming majority of sellers do not even realize. There’s so many, in the terms of the policy, it’s like a, it’s so long, there’s so many components so this is kind of a thing that kind of falls between the cracks and Getida, we’re kind of raising kind of a banner and saying, you should have the awareness and, we support sellers or advise sellers to do as much as they can on their own, right? And then we can come in, whatever’s being left behind, we’ll help you to get the maximum that you’re eligible to get because it’s better for that money to be in your pocket than somebody else’s pocket.
– Yeah, I was telling Dustin about that. I was using a previous service before using you guys. And I was like, where’s this reimbursement said, I was not seeing any reimbursements monthly. I was like, Oh, these guys doing anything? Immediately we signed up with you and all these cases just start showing up all these cases start showing up. I was like, “What’s going on here?” But then I started seeing the money come in. I was like, “This is perfect, “I don’t have to open up cases, “I got a team now behind me that’s gonna do all of it. “I’m okay paying the fee.” Like that’s what you guys are doing, I can sit back, I can launch new products, I can fix my listings, I can do some PPC, I can negotiate with suppliers. I can do all the other stuff that I wanna focus on and not worry about this because you’re right that many sellers just forget about this. They think, Oh, Amazon’s gonna reimburse me but they don’t know about that 30-day window. So also, I’m glad you touched on that.
– Yeah, you hit the nail on the head, I have to add something to that because you really hit the nail on the head. So sellers can take the available time and resources and focus on their core competency which you create that genius, that spark that creates sales and revenue and your brand, whatever you’re trying to build over there. And it’s like almost like cooking in a kitchen, you’re the chef. You create all that magic, but there’s a lot of dirty dishes but nobody wants to look back and clean it, we’ll do it for you with pleasure. You go make the next cake or the next sushi or whatever it is that you’re making and make that magic, we’ll take care of all the dirt. But what’s interesting is for us the way we created Getida just to give you more perspective is that we don’t charge a subscription fee. There’s no subscription, there’s no retainers, there’s no upfront costs at all, right? So the way that we are structured is that we only charge a fee from the recovery, we call this PPR, pay per recovery only. So let’s say we got you a hundred dollars back. We’re gonna charge you a 25% fee, which is $25. So that’s kind of the way it’s structured. So sellers is whether just beginning of the way or that you’re the top 10 sellers, everybody can afford it because we only get paid based on our success.
– Yeah, it’s totally worth it. Like you don’t wanna sit here all day and do cases on your own, I’d rather just have a team do it. So I think the fees totally worked there, like get somebody else to do it, they’re good at it, your team’s good at it and you’ll see all these cases coming up. And what I really like is there’s a dashboard inside where it kind of tracks like the recovery rates, how much money you got back, your inventory how much money got back, touch on that a little bit.
– Yeah, so our mission was to create something that is people might take it for granted now, but it’s innovative because why? We’re taking essentially a service, people working for you, a whole team. By the way, as a side note, a big part of them are ex-Amazon employees who used to work in the reimbursement department so we know what we’re looking for and how to present the issues, how to dive into the cases. So we’re taking all that labor, all that work, but your experience as a user, you go into your dashboard and you see all, you have full visibility. You see that the cases, what cases are being open, what’s the status of the case? Did it get paid? Did it not get paid? Is it still pending? How much money did we recover in the past 30 days, 60 days, 90 days? So we’re able to provide a technological dashboard for you to track and monitor the progress of your account. Even though it’s actually a lot of people in the back end doing a lot of heavy lifting and doing it for you so the experience is just smoother. You plug and play, we do all the heavy lifting and you focus on your growth. And, but the only kind of thing that we need usually from the sellers and their participation is if Amazon asks for further documentation, that’s kind of the only few points that we need the sellers for. Like I mentioned before, be a bill of lading, a proof of delivery, maybe an invoice. And we need the sellers to reply with that information because if they don’t, Amazon’s not gonna approve the claim. And usually, when Amazon asks for further documentation, it’s for high ticket claims, high-value claims, could be a few hundred bucks, it could be a few thousand bucks, but beyond that, that’s kind of a, the beginning of the end of what we need the sellers for and all the rest of the heavy lifting is on Getida.
– I really like how your technology mixed with a human looking at it. I feel like I’ve used others in this space in the past and it’s clear that it’s just automation running some reports, and then I’m actually having to file the claim myself based on the data they give me. So it’s somewhat good, but what your approach is great, you’re you become a department of my business and I’m a big fan of that and a big fan of the passion you’re describing where allowing business owners to focus on their strengths and take care of this. For me, it’s just, it’s free money, I would have ignored this, I’ve had it, I have ignored this in the past so it’s a win-win. I like your pricing structure where it’s just we only pay when stuff happens. Again, to me, that just seems like the money I would have, I’m leaving money on the table.
– Bringing money back from the dead. The money you never expected to have, it’s from the dead, you get all that cash flow back into your organization, then you can invest more into your next launch, your next product, your PPC campaign just whatever it takes to empower you. Or if you’re a really large seller, we’ve got you a lot of money. If you want a Ferrari, you go buy a Ferrari. We’d rather you invest in the business because the more you, the sellers grow, actually the more we grow because statistically speaking, we’re connected to their business, to their growth because the more revenue they will do, and if let’s say we find between one to 3% discrepancy in your account and this year you did a million, next year doing 10 million, we’ll get you more reimbursements and in turn, we’re gonna make more revenue so we’re very passionate about empowering the sellers with all the reimbursements and the liquidity and the money that they get back into their organization. But beyond that, we also have an educational arm, we call it Prime talk. So we do have a podcast, so I’m extending your a live, warm invitation the both of you or one of you to participate so you can share your own story. But we also do seller conferences and we sponsor a lot of seller events and the main purpose. So the sellers continue their education because the more they’re educated, the more they know, the more they become lethal in a good way and become powerful and they grow. And the more they grow, the more, the longer that they survive in this tough terrain it’s not an easy terrain, and the more we grow and we survive in this terrain altogether. So there’s an element of the partnership with that aspect.
– Well, number one, we’ll definitely come on your podcast. We’d be excited to do that. And number two, let’s dig into that educational component. Where are the areas inside Amazon where there can be discrepancies? I mean, I, we can, there’s gotta be a lot if you’re able to, and how long, how far back can we make claims or can we put in claims for money?
– Got it, so, yeah, this is what we call an RN, the rules of the game, right? The rules of the games are as following. It’s not straightforward because Amazon tends to be like that, but I’ll try to make it as simple as possible. So for the overwhelming majority of the issues or the types of things that we look for, you got about 18 months. So once you connect to Getida, we’re gonna go back 18 months and find all these issues that pretty much were not handled, or have been left behind but keep in mind that after 18 months, if you don’t open a case and get the recovery, those cases expire, you lost all that value, all that money. And we strongly encourage sellers to do the maximum they can do to secure everything that they’re owed because if you don’t get everything that you’re owed and it expires, it goes away, you’re kind of losing twice. The first thing you lose, you’re losing is your cost of goods, the money, the funds you invested it into the product. But the second thing you lost is your profit, and why? Because Amazon is a very fair player because when they pay you a reimbursement they pay you as if you sold that item on Amazon, right? And that usually includes a profit. So you shift we’re helping you shift a double negative into a double positive. So instead of losing your investment and your profit, you get it all back. So flushes you, and you get a nice, positive impact on your EBITDA, your gross profit on your business. So 18 months for the most part some very rare cases or issues, they’re evergreen. So even if you’re been an Amazon since the early beginning of FBA, we can recover a few things for you, very narrow niches but we have this capacity based on our experience. Inbound shipments, when you ship your products to Amazon for the first time, for the first shipment and they receive it, that’s what we call inbound receiving and there’s nine months. It used to be 18 months, narrowed down to nine months. By the way, as a side note everything kind of used to be 18 months and as time goes by, Amazon makes it the window narrow and more narrow and more narrow. So inbound shipments are nine months. And then for pick and pack overcharges, when Amazon picks a unit from the bin packages it in a box, and ships it out they need to charge you a fee based on the weight and dimensions. So the larger, the weight and the larger the dimension, the larger the fee, and if they have incorrect data on your weight and dimensions. So if they think it’s larger, heavier than it actually is, they’re gonna overcharge you, financially over a pick and pack fee. So this kind of overcharge, you only got 90 days, 2019 a year ago there, it used to be 18 months like the rest of the stuff, but they narrowed it down all the way to 90 days. So today more than ever we encourage the sellers to conduct this kind of audit at least every 90 days. And I’ll tell you a literal example of the impact if you don’t. So let’s say it’s been a whole year and Amazon overcharged you, I’ll take small numbers cause we usually sometimes see bigger numbers with this, let’s say they charge you with $10,000 overcharge throughout the whole year. But the last 90 days, they only overcharged you $3,000 so that’s what you’re gonna get back. You’re gonna get back to $3,000 and the remaining $7,000 is gone. So two points to make here. One is awareness, realize the rules of the game and the opportunity that’s laid down before you. And the second thing is have a good handle on it either with your own team or other tools or a full-service solution like we are, whatever it is do it because it’s better in your pocket than anybody else’s pocket. So, and you audit your business, you can’t afford to lose, right? So this is kind of our main purpose here. So that’s the rules of the game and that’s how we play it. And I also touch a few examples of the types of discrepancies.
– Yeah I know I left money on the table years ago. I know I did. I wish I had you guys back then. So what’s next for you guys? What’s next? What’s, I know you’re doing reimbursements but where do you see, where do you see another path? Maybe where you can use the same technology for sellers?
– Okay, so to kind of a touch about where we would like to be, or what’s coming next let’s touch about where we are right now. So right now we’re in the position where we’re auditing billions of dollars worth of transactions daily in our across our clients, across our network. And so being in this kind of scale, one of our main missions, obviously for now but also going forward is having the capacity and ability to make every single user and client feel like they’re the only client. Have that quality, that touch where every time you touch us at Getida, you feel like really the only one there for you. Even though we’ve got a thousand sellers. So that’s something that internally we look into in terms of the experience and infrastructure and making things smoother and more understandable, the whole experience. So there’s a lot of elements to that because as we grow every day, we’re presented with more volume and more and more stress and more pressure on our infrastructure. And we need to, it’s almost like a way when you would drive on the road and you have a highway, we have one lane, it gets congested pretty quickly, to build another lane, another lane, and make everybody drive fast and smooth is a challenge, technologically speaking and also on the service end. So that’s something that we kind of work hard on every day at, so in three, five years from now, we’re doing tens of billions of dollars every day, or maybe even hundreds of billion dollars every day in auditing so we wanna prepare the grounds for that but keep the experience like premium, it’s like you come into a restaurant and you are the only table and all the waiters are your service and at your disposal so you have a premium experience. That’s very, very important to us. But in terms of further solutions is, this is an interesting element that I find that we have because I think it kind of pours out to me the passion that we have to, what we do is, so, along with that, what happens is that we’re very passionate about solving the sellers’ problems especially as it pertains to discrepancies. So we’ve, our ear is very attentive to the street or our users, right? So if I have a user or a client that comes to me and goes like, “Yo, Yoni check this out, “Look what happened to me,” please do show me, go ahead. So they show me like this weird situation where I know there’s a discrepancy or there’s a, some sort of a loss and then we help them with this challenge to solve it. And once we successfully help them to solve it, what happens is immediately we kind of discovered a new claim a new type of issue that nobody had in mind. Cause you don’t know what you don’t know. So what do we do? We take that element and then we check our entire network for all the other clients and also we find it and find it in another place and then we’re able to get more. So the ambition is to get you more and more and more and we do it through data or data analytics. So it’s very data-driven. So the more we get, we grow when we get more data points and we get all these challenges that we’ll help others to fix, it grows our capacity and ability to just give you it becomes superior. Because even if, let’s say if you are a hundred million dollar seller, fairly large, you only have access to a hundred million dollars worth of data. We have billions of dollars every day. So if I had to compare it to, let’s say drilling, right? If you wanna drill for oil, you’re a big seller, maybe your drill goes down a hundred feet, which is impressive, so you’ll grab all that oil in that area, right? But we come with our drills, we go down three miles. So another layer and another layer and another, so we get all that out. So how do we extend that drill it goes down to the bottom of the earth and grab as much as you can, that oil so then we present it to you? And only if we’re successful, you pay us using this oil, we’re not gonna charge you anything upfront. So we find you a barrel, 25% of the barrel will be ours, the rest of the 75 go burn it and have some fun, drive a Ferrari.
– Oh man, I love your passion for this, that is great.
– I know this is like, I feel so comfortable using the service. Cause I mean, Yoni, your passion just is pouring through the screen here, so like, it feels good to have a team behind you.
– I’m sold, I’m sold, you’ll be getting a sign up here in a few minutes after this for sure. I know you’re gonna find me enough money to launch a new product, that’s gonna be exciting.
– Oh yeah, if that’s gonna be the case, we’ll do a case study and it’s gonna be loud, it’s gonna be very noisy so hopefully, we’ll help you.
– I love it. In terms of how it works, are you guys running reports like monthly, or are you continuously, are you in real-time finding discrepancies and running cases? Or how does that work logistically for you guys? So high level, we audit your account every day. Every day we scrutinize the data so it’s really like real-time auditing, but it comes a day we scrutinize the data, that’s simply cleaned up every, there’s nothing new, which is okay, but that’s, but this kind of stage happens, usually happens after a little while, so let’s backtrack. When you start with Getida, there’s kind of two stages. The first stage is we’re gonna go back 18 months or even more, and kind of do a deep clean up, everything that was being left behind. And this first stage can take maybe up to 90 days because when we’re gonna find all these old claims and we’re gonna start filing claims from the oldest to the newest, because the oldest about to expire, you want to have a, you want to hurry up so that doesn’t expire, it doesn’t go to waste. So after we do that deep clean up with the first phase, it goes into the second phase where it’s pretty much month to month, everything that every day that goes by, so tomorrow what’s gonna happen is that something that was over 30 days, cause Amazon needs 30 days, so it opens up, they missed it, right? So we have the opportunity to come in and look and address the issue for you. So it becomes super, super quick, super fast. You know that you have a good handle on it so instead of letting things drag over time which many sellers do, because if they have some in house team, they always when you sell an Amazon, it comes to a point where you just, you’re a firefighter, you always kind of gotta what do you call it? Eliminate all these fires that are burning up in your organization, the shipment, and the supplier. It’s very hard to keep up. Or if you presented with the tool when someone’s going on now, Amazon replies to you and you don’t understand what they want and they tell you no, do you think no means no, for us, it’s not the case. We’re on it religiously all the time, we have a handle on it so you can move on. Yeah, so real-time auditing, once again two phases, that phase kind of enters after the first phase, after we cleaned up. So you know that money is gonna come back to you as soon as possible, it’s probably, it’s not gonna expire and you’re empowered this way. The capital just keeps generating itself in a much smoother way.
– I really liked that. That set up in the way you explained it’s clearly different than others that are in your space the way you guys are doing it, I really like the approach. In terms of paying you, once you’ve recovered the money, you invoice us or does it come out of that disbursement from Amazon? Or how does that work?
– Yeah, so we send an invoice. So essentially what happens is Amazon usually pays every two weeks, right? To the seller, you get your deposit every two weeks, some sellers we see get paid weekly, some legacy sellers you actually get paid daily. I don’t know if you guys know that, just so you know for trivia purposes, remember that, that we actually only charge once a month. So once every 30 days, we kind of summarize the month, we send you a breakdown. You can always see it on the dashboard live, that’s one component. When it comes to actually billing and paying for the fees is once a month you get a breakdown via an email with a statement and then you got 48 hours to kind of review it. If any issues you can feel free to let us know. But if everything is good to go, we just charge your credit card on file and we move on to the next month.
– Super easy.
– It is and I’m excited about this and I, to touch on a point you brought up earlier, Amazon is fair with their reimbursements. I was, to tell a story. It was early on when I was starting and they smashed up a box in the warehouse. I mean, I don’t know if a forklift went through it or whatever, but I was immediately reimbursed the full amount as if I had sold all. It was my best sales day on Amazon, like a thousand units at once. And that was all, they responded. So there’s probably missing cases out there of instances like that that I’m excited for you guys to look into.
– Yeah, what I wanna add to that. I wanna, I want everybody to keep in mind. So if you have never done it before, if you have no idea what’s going on we’ll take full care of you. If you do have an idea of what’s going on you have your own in-house team and you’re happy with them, good, you can keep them, we’re very customizable. That’s another distinction I wanna make. Once again, the idea is not to come in and take something that you already have, it’s actually bringing you something you never had before and only if we’re successful, share that gain, so it’s a gain share, right? So if you have your own team that you’re happy and you come to us and tell us, listen, with inbound cases, I’m good, we don’t need you, but all the regular stuff which I have no idea about, go get it. We could do that, we can customize the experience. So if you’re a savvy seller who has a lot of resources and you have your own setup and you’re happy with it, by all means, keep it, we’ll back you up like an insurance policy. Just anything just in case anything was left behind, we’ll clutch in, and it gets you that value back and once again, only get paid if we’re successful.
– That’s awesome. Kris, do you want to just tell a quick story about what’s what they’ve done for you recently? And then I’ve got a question after you tell yours. I want Yoni to let us know what’s the biggest reimbursement you’ve ever gotten.
– I had to do my homework for my question, I had to do some homework. my team and I’m a little removed from the day to day numbers because I do so much content and education, stuff like that. So I had to dive in but I found that to be a case that I was kind of involved in early days, so I’m pretty proud of that, we’ll get to that in a minute. Go ahead.
– Yeah, so I, again, I was using a service in the past and month to month, I was like, where are these reimbursements? So far I’ve been, I only signed up with Getida for about a month, I have gotten back cost about $1,800 that I didn’t even know I had, like, it was just in there. I can now use that money for PPC advertising or maybe put a payment down for a new product. So, I mean, I feel very confident now that I have a team that’s gonna be able to do all this. I’ve got a dashboard that I can see all the reimbursements, they’re opening up cases. I think I’m a customer for life.
– Another thing you forgot to mention where you can buy some, a sanitation gel, you know? Expensive stuff, this is like buying a, like a luxury house or anything, so hopefully, you have some money for that as well. So we’ll keep you safe and healthy. I guess, Dustin, you wanna touch that, the question that you had?
– Yeah, what’s the biggest reimbursement you’ve gotten for a customer?
– Got it, so I’m gonna try to break it down. Like a chief of an Indian chief, let’s tell me a, I’ll tell you a story, okay? So what happened was there was a client that the, It’s gonna be interesting if you guys relate to this. So the shipment was 1100 unit, sorry, 1200 units, right? 1200 units. Amazon said, okay, 1200 units, send a hundred here and 1100 over there you know, location A, location B. So what happens, they labeled it and they did the exact opposite. So the place that was expecting a hundred units, they got 1100 units. And the place that was expecting the 1100 units, they only got a hundred units, right? So I’ll try to make it easy. So the place where they essentially got the 1100 units and only the expected a hundred units, so they received a hundred units, great. And then the rest of the thousand units or so they said, “Shipment has completed, “nothing else needs to be done.” So the seller was stuck in a situation where there’s a thousand units missing. And so, they tried to open a case to reconcile the inbound shipment, explain the whole thing. And they couldn’t deal with this because it doesn’t fit the mold, right? Amazon has a kind of a mold, a structure that wants you to play in it. And if you fall outside the structure it’s very hard to explain to them what happened. So they said, Nope, wherever we expected a hundred units, we received it, wherever we expected a thousand units, we only got a hundred units and the rest is missing, we can’t help you with that. So the seller tried to explain again and again what’s going on. They exhausted all their fuel. So they reached out to us. And then, so we opened a case, I’ll try and make a long story short. It took about close to four months, okay? We had to kind of deep dive. This is what we call specialty cases. So a lot of the cases is in our routine but like I mentioned before, once somebody comes to us with a crazy case, we get very passionate about this challenge and help them. So this is what happened in this case. So essentially we were able to get, you know the seller reimbursement was around $50,000 and it was about a thousand units. You’re able to sell the price of each unit after all fees, about $50, so it was about $50,000. It was like a wow factor because, over the period of four months, you lose hope, you lose faith. And this is I’m, I’m so screwed, whatever. So, but we were able to, to clutch it properly and I’ll tell you how we kind of did it because it fell outside of the routine. Well, we actually were able to discover or using like other tools actually outside of Amazon, one of them is probably a many of you know it’s called CamelCamelCamel, ever heard of that?
– Yeah. CamelCamelCamel was like a website we can actually go and we’ll follow an and you kind of be able to see throughout the history it could be even many years who was selling it at what price, okay? And for what time period. So using that tool, we were able to discover that what happened was that missing thousand units when Amazon was simply in Amazon’s warehouse they didn’t know what to do with it, they just added it to their own inventory. They started selling it.
– Oh my gosh.
– And they stole it like that, it was a hot item. It was a hot item, they sold it like that, so we were able to present the evidence to Amazon, look, look what happened, this exact date, we were able to show them, you started selling it. That’s the same exact date that you received that shipment and you sold it all out, or you cashed it out and now the sellers out of the product, and you sold it, you have all that money in your pocket. It took a while for that data or that evidence to reach out to the general up there that has the ability to click a button that says here is your $50,000, but we were able to push for that. And they took full ownership of the problem, full responsibility. We say like, Jewish people say like they took it like a Mensch, like a man. A Mensch is like a man, and they paid up, and hopefully, this was a happy ending for this turn of events.
– That’s like you’re a detective, you’re like digging.
– An auditor, an auditor, yeah. Actually think of us as an auditor, the auditor comes in, and we try to investigate on the data level. You know what makes sense here? What’s the logic, if something’s missing, what happened, right? That’s kind of the mystery. So there’s all the data points where you’ll be trying to come to the truth and drill all the way down and the more we do it every day, the better we get at it then we become highly effective.
– This is why I signed up with them. Can you imagine trying to do this by yourself? Like trying to open up cases, that would be a nightmare.
– A lot of hair-pulling, yeah, a lot of hair-pulling. And so I do listen, we used to be sellers. We have so much sympathy for the seller, which, like I mentioned, we feel like we’re partners with the sellers, not on the everything side, but in this challenge of auditing and reconciling things, we wanna really be in a position where we know, you gotta, you gotta you have a friend a need, What, how’s that song go?
– You have a friend in me.
– You have a friend in me.
– You have a friend in me, yeah.
– Hey, I wanna touch on something real quick. I’m gonna touch something real quick. You used to be a seller and you did a lot of millions. What is something that you would be like advice for sellers out there? Like what is something that got you from six to seven figures or what is something that sellers need to focus on to grow the business that much? It kind of touches what we do with the Getida to know this, it’s not a side hustle. It’s very hard to make it a successful side hustle and go to those levels. And it just swamps you in. So I know before we’re doing Amazon when we started doing Amazon, I was doing sales and distribution for like a supplement company. My partner Max is today, the CEO of Getida, I’m the COO of Getida, he was doing accounting. So we started on the side as a hustle. But as soon as we saw the impact and the potential, we quit our jobs and we made it, this is our profession. You need to become a professional with everything that it means not a skill, not a delegate no adopt technology fast, quickly cause things are hyperdynamic, they always keep changing. So a day in Amazon’s world is like 10 years in the conventional business world. It’s super hyperdynamic, so the faster you realize it, the faster you’re committed, the faster and better you’re gonna see your, the way you perform. So that would be a tip, it’s not, you’ve got to take it seriously because I see a lot of sellers out there. You know, that it’s a, you know, almost like a hobby but once they started getting hit from all these directions unexpectedly, it could be competition, it could be sale performance, it could be a trademark, so many things, right? It’s a game for pros. If you don’t realize it, and hopefully this is gonna be a wake-up call. So you have two options, either cash yourself out, before you get hurt or you shake yourself up, dust yourself and say, yeah, I’m gonna put on my boxing mitts and I’m ready for the match.
– That’s great advice. You summed it up perfectly. That’s one of the reasons why Kris and I do this podcast, this helps us. I mean, we’re staying in the game, learning from you just now, I learned things I had no idea about in a business that I’m involved in daily. So you’re right about that, man. And yup, you got me all pumped up here.
– I know, I’m like, I’m ready to plow through this window.
– Hopefully, you know, everybody’s pumped up. This is the time to shine for everybody. This is prime time. Imagine like the NBA finals every point matters. And you gotta take it all the way home. So hopefully this is gonna empower the sellers, they’re gonna be on their top game, focus. There’s so many eyeballs on the court, right? And when I’m in the court, I mean, where you see the Coca-Cola the McDonald’s that’s what I mean, there’s so many eyeballs. So you do your PPC right, do your product presentation, right, there’s so many eyeballs and they’ll buy it and they’re ready, they’re full of intent, they’ve got their wallets ready, their digital wallets and they’re gonna make a purchase. So, you know, on a side note for Q4, I do bless everybody to have a tremendous Q4. Hopefully, everybody had a tremendous year because this has been a kind of a historical year for e-commerce, it grew in crazy proportions for most departments, most categories. Some categories took a hit like travel, but for a more overwhelming majority of sellers on Amazon, it’s tremendous growth just to touch a bit more on that. Amazon grew from about $280 billion last year, that’s what they did in revenue. They’re gonna increase by almost another a hundred billion. So, it took about 20 plus years to get to a hundred billion and look at this year, it just skyrocketed, a company does 280 billion, that grows 30 plus percent a year. I don’t think it happened anywhere in history. So, and the sellers the third-party sellers that are inside our ecosystems sell those numbers. So that’s something to be proud of and be excited about. And on top of that, was about to say is the power of the sellers is only growing, right? It’s more than 60%. So, the sellers, their creativity and all their energy is just penetrating so use that keep doing it.
– That is a, that’s inspiring man and you’re right, it is the marketplace is just growing and growing, Amazon’s amazing. I mean, it gets a bad rap sometimes, but I mean it’s provided an entire opportunity that would have never existed for me. I couldn’t be more excited to be a part of it. You’re gonna say something Yoni? Yeah Dustin, just a last note. Another million sellers joined this past year, another million. So, I think all ends is more than two and a half million, maybe more than three. And a lot of them will probably make a good fortune or a good income opportunity, that’s an opportunity.
– It’s amazing. Well, before we go, tell everybody, everyone who listens to this for sure they have to be wanting to use your service. Now, how can they get in touch with you? What are the steps they need to do to get signed up with Getida?
– Yeah, pretty simple. So you visit Getida.com. Let’s touch on the name, actually, Getida is an acronym. It stands for Get IDA, Get Intelligent Data Analytics. So either you say Getida, Getida, doesn’t matter, it’s an acronym much like Geico Geico is a General Employee Insurance Company, I don’t know if anybody heard of that but it’s Geico, Geico doesn’t matter. So visit getida.com or Getida.com on the top right, it says free to sign up so you click that. It’s free to join, by the way, it’s free to join, free to get access to our dashboard. And only if you wanna upgrade to our service so that we’re actually gonna file claims for you, click and enable claim filing, and then you can now work to the service and only pay if we are successful. So that’s how you can onboard and start with Getida If you are looking for myself or Getida, you can look on social media, I’m pretty active on LinkedIn. You go visit Yoni Mazor Y-O-N-I, that’s my first name, last name is Mazor, M-A-Z-O-R. I’m pretty active there, I try to bring insights as much as I can from the perspective that I have for sellers same thing on Facebook Yoni Mazor, but also on getida.com, there’s a contact us page or a chatbox. you can always reach out. Any questions, any concerns, any thoughts, but if you want me to just tell them I want Yoni, and I’ll get the message and I’ll reach out by myself to help you out.
– Man, Yoni thanks for coming, this is unbelievable. Everyone, please go check out, Getida. I mean, just, this has been fascinating to listen to, also everyone, please subscribe to our podcast, Two Amazon Sellers and A Microphone. Subscribe so you can get information like this in the future. This is why we’re doing this. Just to be a resource for you. We’re learning, we want you to learn. We wanna introduce you to great companies like Getida and great people like Yoni. So like it, join our Facebook page, SELLOZO on Facebook, S-E-L-L-O-Z-O, we stream these live. So we’re trying to be everywhere. So you can see this, but Yoni again, thank you so much and we’ll have to get you back on again at some point with some more info and new updates. And just thanks again, man, we really appreciate it.
– Thank you guys, I had a great time, hopefully, we’ll do this sooner than later, later on.
– You know it, see you, man.
– See you guys.