Alarm Mode is the main factor that drains the battery. With this in mind, you don't want to have many false alarms. Avoid moving the Cycloop when the Key Fob is away.
IMPORTANT: If you decide to enable "Show location on Regular Status Update", keep in mind this will also reduce battery life. In general locations sent from the device are what drain the battery the most whether in alarm mode or with the regular update.
If in constant alarm mode and in-motion the unit will attempt to send a location every 5 minutes and this will drain the batteries in 1 week. In 'Live tracking' mode, every 10 minutes consumes 1% of battery. Use this mode only when you want more frequent locations from your device when it has been stolen.