You can use this card along with "Call of the Mummy" and "Ectoplasmer" to continuously deal 1200 damage a turn, although it could leave you defenseless during your opponent's turn.
"Kishido Spirit" and "Cyber Shadow Gardna" can provide a good defense, as "Cyber Shadow Gardna" returns back to your Trap Zone, thus allowing you to summon "Lich Lord" through "Call of the Mummy" again. "Kishido Spirit" prevents "Cyber Shadow Gardna" from being destroyed, thus rendering any hopes of your opponent attacking useless (since there's no other monster to attack).
This card is ideal for Ritual Summons. Because tributing monsters for the summon does not constitute a cost, you can use this card for a Ritual Summon and return it to your hand. You can even use it while in hand.