Well heres a quick step by step on how I Monetize the traffic on my domains.
Step 1
I host the domain on a hosting account. From there I will put up a page that says "Coming Soon" or "Under Construction" and I will list some of my sites or possibly some affiliate links. The reason I list some links is to see if the traffic will click on them because if they do then obviously it is real traffic and I could possibly get clicks once fully optimized.
Step 2
Install Google Analytics. I think this is the most important step to this whole thing. This will tell you where the traffic is coming from and how it is getting there. Plus how long the people are on the website, ect. Basically gives you tons of stats on where and why the traffic is there. Now I leave it like this anywhere from 1 week to a month depending on how much traffic is actually coming to the site.
Another thing I would like to point out is AwStats is very helpful if installed on your server. It will let you know if bots are crawling and such.
Step 3
After I feel that I am ready to monetize the traffic I will change the name servers and park the domain at the desired parking company. From here I will leave up the standard parking template until I start getting clicks. If clicks are scarce I will often mess with the template and see if that helps. Once I start getting clicks I begin to mess with the keyword depending on what the traffic is clicking on.
Doing it this way I have found to make more than just messing with keywords and hoping I get it right. I think this a more accurate guess on what keywords to use and what your traffic is looking for.
Helpful Tips:
Archive.org is your friend when monetizing expired traffic. Often times the traffic of these types of names are from back links from other sites of the related topic.
Google Keyword is a GREAT tool to find keywords that relate to your topic and actually have ad competition. This allows you to pick high paying keywords easily.
Babel Fish is a great language translator that will help when translating your keywords. Don't be afraid to monetize for foreign traffic. Often times this is why people don't get clicks is because the visitor does not understand the language that is presented. Just make sure you analyze your traffic correctly before selecting a foreign keyword
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