One of the things that designers should avoid doing is creating designs with Lorem Ipsum i.e. placeholder text.

Here's why.

1) Designers need to understand the context.

Without "real" data in there, the designer doesn't know if their design is going to work. That headline that has 20 characters might break when there are 40 characters.

Without testing it, they don't know.

2) When testing, the less "real" looking the design, the less effective the feedback.

I've spent countless hours (seriously) explaining "this is just fake data." Users notice, especially in enterprise, when the data doesn't make sense.

3) It gives developers the context of how the design is going to work.

If they produce code that doesn't work against the data, then there are endless cycles making it "work."

If they see how it works up front, there will be less cycles.

At the beginning, Lorem Ipsum may be all that you have, but you should converge to something that looks like a real product.