I agree that spotting the Tiger is the best option - using the Scout Binoculars...
1) You give other team members with Anti-Tank weapons a true idea of where the Tiger is at; giving a split-second advantage where it counts.
2). You can call in Arty (which I'm not sure if it will damage the Tiger); but will make the Tiger move (and be on the run); as two or three Arty in the same place denot to the Tiger that he's been spotted.
If you don't use the Scout Binoculars, I've found it's too easy to get pawned by a Tiger hiding under good cover; or by panzerfausts, and/or the Tiger's team spotting you way ahead of time. On a loaded server, a skilled person is typically piloting a Tiger - a skilled person on a squad. That squad is likely marking your tank already; and has panzerfausts between you and the Tiger.
All in all, Tiger hunting is really a team effort. If you don't have the Binoculars, at least say to the team where he is using the coordinates... i.e. "Tiger at C7 - heading west, etc." If any German tanks are spotted regularly (via Binoculars) - I typically have no problem killing them via Firefly.