What dynamic data can I insert into email?

You can have any of the following dynamically created for you. Just use the word in the [brackets].

Salutation - [salutation] (Example: Mr. Mrs. Dr.) First Name - [first]
Last Name - [last]
Email - [email]
Target - [target] City - [city] State - [state]

Example.

Dear [salutation] [first] [last],

I am writing you about an exclusive offer to residents of [city],[state].

This would read:

Dear Mr. John Doe,

I am writing you about an exclusive offer to residents of Houston, Texas.