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I'm still learning some of this stuff, but I think giving away a few of your books on goodreads.com can lead to increased sales. I know that it certainly helped increase my visibility. I gave away five copies of my latest book, The Curtain Torn, and I had almost 600 people sign up for the drawing. I can't track how many additional ebooks I sold due to that, but I think it's worth it. Also, even though they say it's for books less than six months old, the published date is optional, so you should be able to give away previously published books.

Larry Buttram
www.larrybuttram.com
 

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I've done two book giveaways on Goodreads and one on LibraryThing.  I had great response from both websites, but I had more than 600 people sign up to win one of five copies of my short story collection on Goodreads during my first giveaway of two weeks. 

I am currently running another book giveaway (this one for a month) for one copy of my short story collection.  I have 224 people signed up to win a copy, and I have more than a half of a month to go.  The first giveaway on Goodreads garnered me eight book reviews (4 and 5 stars) and several ebook sales and print book sales.

It is well worth the effort and the contacts.

Katrina
 

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For my first Goodreads giveaway, I set it for four weeks. I noticed that I didn't get nearly as many people signing up during the middle two weeks (probably because it wasn't a new giveaway or a giveaway ending soon and was buried in the lists). The next time, I had it last only two weeks and ended up getting almost the same number of signers up. I've also done one Library Thing giveaway. I'm honestly not sure how much difference the giveaways have made, but they don't take much effort, so why not, right?

StormWorldSeriesGuy said:
It looks like ebooks aren't allowed according to Goodreads giveaway rules.
Any way to gift ebooks on goodreads or no?
Not on Goodreads, but you can give away ebooks on Library Thing.
 
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