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First impressions are important! The front page of your newsletter is YOUR first impression. You should take advantage of this by creating a unique nameplate (banner) to go across the top of the page. While your banner is busy catching the attention of your readers, some well-chosen headlines and/or graphics should reel them in! (Try to avoid too much body copy!)
The front page is also a good place to add teasers about "what's inside" the rest of your newsletter.