The most important question is how AWS costs scales in relation to number of users. Specifically, here are the questions that I would ask:
(1) What is the range of variable cost per user? Can you pass variable costs onto users? For example, if one of your power users is consuming 500gb of space in your DB, are they paying for the 500gb of space, or are they paying the same as your customers using 0gb of space?
(2) How do storage/cloud requirements change with an additional 1 user, 100 users, 1000 users?
(3) Is your monthly revenue per user greater than your monthly cloud cost per user?
(4) If you gained 100k users tomorrow, would you go out of business this month?
(5) Do your costs scale linearly with number of users?
(6) Are your capacity requirements generally static and predictable on an immediate (daily, weekly) basis? Or do you have large spikes in traffic?
Generally speaking, the advantage of the cloud is elasticity; you provision capacity on demand only as you need it. If you are running instances 24/7, you are almost definitely losing money. The first cost saving measure I would look into is moving core, basic infrastructure onto dedicated or colocated servers.
By "core infrastructure," I mean the predictable capacity that you always need. Keep that in one place with a low fixed cost. Any extra capacity you need, use the cloud.