Preferential Voting is only part of the solution. The second and third parts are Compulsory Voting (to ensure that everyone has access to democracy) and Education.
Here in Australia, we have a Preferential Ballot and Compulsory Voting. Election day is on a Saturday and there are readily available options for those who are indisposed on Election Day.
What we don’t have is an educated Voter base. A lot of people still feel that if they vote for a minor party first, they throw away their vote, simply because that is what imported media is inferring.
Our AEC needs to have an advertising campaign extolling the benefits of preferential voting, and the populace needs to understand that there are no downsides, except a few extra seconds of thought to fill out your ballot. Instead, the education comes in the form of “How-To-Vote” cards, published by the major parties, completely missing the point of a preferential ballot.