Your approach during negotiations is key
Always keep negotiations professional and polite. Never get emotional or too hung up on achieving a certain percentage off list price. You might well receive an offer that surprises you or requires further thought or analysis. There is no shame or loss of face in simply pausing discussions for a brief time while you think, calculate and discuss options internally.
It is also worth mentioning that waiting until the last minute won’t get you the best deal. In fact, a better tactic is to make sure you have ample time to pursue discussions long before the contract ends.
Let’s be honest here: A strategic vendor can probably survive without your business much more easily than your business can survive without their products. Refusing a deal and hoping they’ll make an amazing offer just before the deadline is a high-risk strategy. This isn’t about just one vendor, either – all the big vendors have their own discount policies and their own drivers for giving you a better deal. You need to know what those drivers are.