Be careful with TMs though. Targeting certain acronyms *might* lead to TM issues.
First of all, see if there is any traffic and where it's coming from. If there are visits from referer links that should give you some clues as to what visitors are looking for.
If your parking company doesn't provide stats that are detailed enough, host the domain yourself. Thus you will have the raw webserver log available.
The majority of domains are not fit for parking, sometimes it's better no to park them at all and so you'll avoid sponsored links that might be problematic.
Not worth the trouble for a few dollars in parking.
I think that's it. The very first step is to check if the domain is getting is any significant traffic. Optimization is not a concern if there is no traffic.