Companies that want to run contests to raise consumer awareness of their products may not have the know-how to go about it, or to ensure that the contest achieves a wide reach.
And then there are consumers who may not come across all the contests that they want to enter.
Enter Prizle.com, an integrated contest platform that addresses the needs of these two sides.
Launched yesterday, this website enables businesses to set up contests - from simple lucky draws to skill-based contests - in a snap, and gives consumers a platform to find the contests and prizes that interest them.
The founders, Fabian Lim, Violet Lim and Jamie Lee, came together after seeing an opportunity in the "fragmented and random" environment of contests, where consumers find most contests by chance, and businesses fail to market their contests effectively.
Mr Lim, who specialises in Internet and social media entrepreneurship, said: "Businesses find that contests are good at generating buzz - if done properly, but what is hampering them is not just a contest-creation issue, but also a contest-distribution issue."
For a basic fee, Prizle.com enables companies to design, set up and get the contest "out there". The website's platform even feeds them the statistics and recommendations based on its own data analytics.
Mr Lee, a technology and finance specialist, said: "When companies come up with contests, there is a lot of nitty-gritty that takes days, or even weeks to sort out. What we are doing is making this a step-by-step structure. Many businessmen are not technical people, and we want to create a structure that is so easy that anyone can set up a contest."
Consumers who sign up with Prizle.com are able to enter as many contests as they like on the website at no charge. The site is also the go-to place to find out whether the winners of ongoing contests have been picked. By taking part in more contests, consumers qualify for virtual points that can be exchanged for gifts and vouchers.
For a start, Prizle.com will focus on marketing the contest platform to businesses, using both online and offline approaches.
Ms Lim, the member of the trio who specialises in marketing, said: "To be successful in business, there are three leagues that you must be very strong in - product, marketing and finance. The unique thing about Prizle is that the three of us have been running our own businesses, and we have the skillsets to contribute to these three leagues."
Mr Lim is a coach and consultant in Internet marketing; Mr Lee and Ms Lim, co-founders of online dating website Lunch Actually, contributed to its systems and branding respectively.
Aggressive growth is on the cards.
Over the next five years, the company aims to build a pool of 15 million users in the Asia-Pacific.
It will launch Prizle in Malaysia and Indonesia later this year, and in Vietnam, Thailand and the Philippines next year.
Prizle.com is supported by the Interactive Digital Media Programme Office of the Media Development Authority (MDA), and incubated and funded by Expara IDM Ventures. Talks between the founders and potential business partners in other countries are under way.
Mr Lee said: "There is so much value we can give to the consumer and to companies. We see huge potential in Prizle.
"Our vision is that when people think of contests, they think of Prizle."