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In this video tutorial, the speaker emphasizes the importance of a cover letter in securing first-round interviews, stating it can evoke emotion in a way that resumes cannot. They highlight three key elements from a successful cover letter written by Amanda, which helped her receive multiple offers from management consulting firms and investment banks. The speaker addresses the necessity of a cover letter for job applications, stressing that while a good cover letter won't guarantee a job, a poorly written one can eliminate chances for interviews. Viewers are encouraged to stay tuned for a unique formatting tip at the end of the video.