Pretty much make sure you have stuff that will drain the battery turned off. It's a shame Apple included all the great features the iPhone 5 has and you can't use them without having to charge your device multiple times a day, but it is what it is.
So turn off Bluetooth when not in use, turn of Wi-Fi when not in use, make sure you have a good signal and it's not always searching for service, turn off push notifications for apps you don't really care about push alerts for, turning off Siri helps, turn off LTE, make sure you're not connecting to iCloud in the background, put your brightness on low or auto-brightness, turn your mail to manual receive instead of push and make sure location services are off or only on the apps you need them for (such as Maps, Weather and Siri). These are some ways you can improve your battery life. If these fail to work, reset the phone's settings and don't restore from a backup. Hopefully iOS 6.1 fixes these battery issues because right now it's getting a lot of complaints.
My battery life isn't too bad. My brightness is about 1/4 up, Siri on, LTE on, iCloud not checking in the background, push email off, location services on to only some stuff. My battery is at 54% remaining with 2hrs 56mins of usage and 6hrs 59mins on stanby. However, the first hour and a half of that was spent mostly gaming which drains the battery extremely fast. Normally I get 7-8 hours of usage and 16 hours on stanby within the day and my battery ends up nearing death within the end of the day.
Definitely doesn't have the 8 hours of LTE browsing that Apple said it would. I found even listening to music drained the battery quicker than I thought. I get a lot better stanby time than some people here do. Stanby for me barely uses any battery so I'm really happy about that. It does drain fast when it's in use, though.
I also used to find that when I first unplugged the phone from the wall, it would take 30-45 minutes of moderate usage to actually get down to 99% and then it would start going more rapidly. Lately, it's been going down to that 99% a lot quicker - like 6 or 7 minutes of usage and 20 minutes of standby. Then it decreases faster. Today I actually unplugged it from my computer and stepped out of class and it immediately went down to 98%. It must not be getting that full charge it used to for some reason.
I purchased Apple Care extended warranty so if anything is wrong with the phone/battery itself after the first while I'll be able to get it repaired.