Alone or with allies, we have imposed sanctions more often in the past twenty years than have all the other nations and international organizations of the world combined in the past seventy years. In a word, no. In a few more words, not very well and not very often. And academics who study such things generally agree. There's diplomatic posturing, explicit armed conflict, covert activity, and economic pressure.
Sanctions are the best among a bad set of alternatives.
They are always successful in that at least they make a public statement that something is wrong. They show our allies and political constituencies within the U.S. that we are on the right side of an issue, even if we don't affect the target country's behavior. There are a lot of purposes other than altering the behavior of some other country. It is quite important to make a statement about your own identity and moral beliefs, regardless of whether your behavior is going to alter the outcome. Making a statement to allies is not always the fluff it may seem.