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In this video tutorial, we learn how to replace photo placeholders in a Word template. To start, we change the photo on the cover by right-clicking and choosing "change picture from file." After selecting the desired image, we adjust its size and position using the crop tool and resizing options. In this example, we focus on only one person in the photo, making sure it fits properly in the box. Once satisfied with the placement, we can finalize the changes and move on to the next photo placeholder.