Per the "new features" section....
Tags with alternative text
We love that new feature a lot because it is really clever, quite hard to develop but amazingly handy and user friendly. I wonder why we did not add it sooner. Tags are pieces of text you can add to your message from the recipient list. Every single list column has its tag with the same name, you can rename if you wish. For example we have the [Firstname] tag that will insert the recipient first name into the message. The problem comes when the data is missing, in that case, no first name! If your message begin with for example 'Dear [Firstname],' you would end with 'Dear,'. Well, we have fixed that problem by adding the possibility to add some alternative text directly into the tag. In the example above we could use [Firstname|Friend]. 'Friend' will be used if 'Firstname' is empty. That's simple! No need to use complex conditional statements as before, just the tag including '|' and the alternative text right after.