Make an MTU/Events tracking dashboard
Most tools have a section in your account settings where you can track usage in case you’re approaching your plan limits, but you should also use the tool itself to build dashboards detailing usage of the tool.
Mixpanel uses the concept of Monthly Tracked User (MTU) to bill its clients. An MTU is defined as any user that has had a single event during that period. To track this, simply make an Insights report counting the “Unique” of “All Events”, and set the time breakdown to “Months”. This shows your MTU count. Log in with your Mixpanel account and you can see an example here.
Comparing the number of users that trigger each event can help you adjust your tracking plan to incur lower costs. To do this, make a second report that’s just like the one above but use the “breakdown” feature with the “event name” property. Set the time window to last 30 days and the chart type to “bars”. Log in with your Mixpanel account and you can see an example here.
Amplitude generally bills based on the total number of events tracked each month. Make a chart that looks at “all events” in a Segmentation report. Copy this report and add a breakdown by event to the copy. These two will let you track your overall usage and see which events contribute to it the most.
If you want to keep costs low, don’t log any events before authentication
There’s a sharp dropoff in users during authentication, so don’t track anything before it if you want to reduce costs.
Be careful if embedding your product in a third-party site or app. If you log an event for any time your product is viewed or interact with, make sure you know how many users that third-party site has. They can end up drastically increasing your event and MTU counts.
Use a “Startup Plan” offering
Mixpanel has a plan for startups that were founded in the past 2 years and have raised less than $5M in funding. You get $50,000 in free credits valid for one year to use their Growth Plan. Apply for it here.
Amplitude has a “Scholarship Plan” that is also for recently founded startups with a limit on their raised funds. Read more about the criteria and application here.