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The video emphasizes the importance of a strong cover letter in creating effective proposals, which can significantly impact business success. The speaker highlights that many people overlook the cover letter, but it is crucial for engaging clients who are sorting through numerous proposals. A well-crafted cover letter can entice clients to read further, akin to a landing page that captures attention. The speaker advocates starting the cover letter by acknowledging the client’s problems and requirements, setting the stage for a proposal that resonates with their needs. Overall, the speaker believes this approach has contributed to achieving an 80% close rate with major clients.