In my youth I was VDB'd dozens of times; it was my frequent flyer program. Now, I like decent compensation, and I'm willing to pass half the time.

Always arrive at an airport with a good list of alternative flights one would consider; this is not specific to a VDB strategy, as one can be forced onto this list for other reasons. It's easier to figure this out at home with an internet than at the airport.

Many times when a VDB situation arises, the obvious alternatives are saturated. One can try to nab both the compensation and a seat in first. Consider as appropriate flying the next day or a different, indirect route, perhaps arriving at a different airport. CO can't read your mind on this, and you may propose an option attractive to you that beats anything CO can think to offer the other passengers. CO can break any routing rule they need to, to get you out of their hair.

If CO is lowballing the offer, and no one is budging, make a counteroffer and wait. The compensation can nearly double over time.