Is Preaching Effective?

2 Timothy 4:2-4 (KJV)
2 Preach the word; be instant in season, out of season; reprove, rebuke, exhort with all longsuffering and doctrine. 3 For the time will come when they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears; 4 And they shall turn away their ears from the truth, and shall be turned unto fables.

Does the preaching and teaching of the Bible still work? Or should we be seeking new modern solutions?