Leverage your assessment of Bitly in relation to other competitors. Highlight that you've received lower quotes from alternatives, which could act as leverage to negotiate better pricing or additional features. Make it clear that securing a more favorable deal with Bitly is crucial if they want you to choose them over the competition.
Argue for the removal of any automatic renewal clauses. Emphasize that your finance department needs this to have absolute clarity and control over budget expenditures, which could lead to a better negotiated deal. Reinforce the idea that you don't want future pricing dictated unless a strong agreement is established this time.
If you plan to increase the number of user seats or utilize more of Bitly's offerings, leverage this growth to negotiate for better rates. Present this growth as a justification for lowered pricing per user, as bulk usage typically warrants discounts.
If Bitly's platform requires you to add functionality for security compliance at an additional cost, use this as leverage to ask for discounts on those upgrades, particularly since other competitors may provide similar features at no extra charge.
If Bitly proposes a large rate increase that is not justified by current usage or value received, leverage the descoping of users or features to negotiate this increase down to something more manageable.