Check this article.
According to that article the transaction log backup is the only way how to reduce the size of the transaction log in the FULL recovery mode.
Shrinking will help only in a situation when you for example have forgotten to take transaction log backups and your transaction log file grows and then you take the backup and you need to shrink the physical log file size once so that it is not extra huge. But shrinking will not delete any transaction log data, only shrinks empty space allocated in the file.
So shrinking the transaction log file frequently is usually not a good idea.
See technet:
Shrinking database and log files can be set to occur automatically.
However, we recommend against automatic shrinking, and the autoshrink
database property is set to FALSE by default.
On the other hand taking transaction log backups frequently when your database is in FULL recovery mode is a good idea.
If you do not need FULL recovery mode with transaction log backups, you can also switch your database to SIMPLE recovery mode. In a SIMPLE recovery mode you do not need to backup transaction logs, but in case of disaster you need to use your last full backup.