You can find a walkthrough of the drag and drop template builder here.
Currently in beta testing, the drag & drop template builder allows users to easily drag elements from the right-sidebar menus and build out a template similar to how you can build an email. If active in your account, when creating a new template within Template Builder, you will be offered a choice to build via drag and drop or legacy methods. If you need full access to the entirety of your HTML, we do still suggest using the legacy editor.

When starting, as with the legacy template builder, you will be shown a series of starter templates. Each can be fully edited. Choose the one closest to the design you want to start with. As with the legacy editor you will need to give your template a name. You can also choose to fill out any email defaults such as title, subject, from name, from address, groups, etc. which will be pre-inserted on any new email you make with the template. You can still edit those on the emails themselves. In the bottom of the menu you can select which users should have access to the template (all client admins get access to all templates by default).
As with legacy, the tabs at the top will allow you to see the HTML tab, the Text version tab, the Options tab (allowing you to change any settings or access), the Preview and Test Tab, and the Automated Emails tab (which will display what emails are tied to the template).
On the HTML tab, you can design your template. The same top menu seen in the email compose section will allow you to expand to full-screen if you wish. Similar to the email compose builder, the right-sidebar menu is divided into Layouts, Content, Library, and Settings. Depending on which section you are selecting, the settings options will change. If you click anywhere in the outer blank space of a template your settings will show your Template Settings (you can also get to these settings by clicking on the cog wheel
in the gray bar menu). More on template settings can be found here.

As with emails, you can drag over Layouts, Content Elements, and Library Elements into your template. The only content element specific to templates is your Editable Area element (which will show as a dotted line around whatever content you add inside it). This allows you to mark specific sections as editable in your template while anything outside of one of these areas will not be editable within an individual email. We suggest keeping your footer information including your required SPAM-CAN address and unsubscribe link outside these areas to prevent someone from removing them from an email. You may wish to do the same for any brand logos or static menus in the top of your template. Editable areas must be numbered 1-10 and can also have an optional friendly name (such as preheader, body, etc.).

As with the email compose drag & drop editor, you can drag out layouts for structure or to apply background colors and stack the elements you wish to build out your template.To edit any of the starter template sections, simply click into them the same way you would an element in the drag-and-drop editor. To delete a section click the trashcan icon when selected. To delete a layout (and all elements within it), click the up arrow and then delete the content.
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As with templates built using the legacy editor, remember to save and publish when you are ready to test an email with this template. If you have removed the account variables (which will populate the address stored in your Account Settings stored CAN-SPAM address) or replaced the default unsubscribe link with a custom one, you will be prompted to confirm the template does have both an address and a working unsubscribe link as required by law.