While every student will benefit from a systematic, explicit, intensive literacy program, dyslexic student REQUIRE it! This is where Structured Literacy comes into play. Read about it here.
Structured literacy differs greatly from balanced literacy. The University of Michigan has wonderful information here.
Don’t forget about the MULTISENSORY part, too! That doesn’t have to be elaborate, using all sorts of manipulatives. You can do it with just your fingers, your voice, a pencil, and paper! Fun stuff is fine to use, but it isn’t necessary to make things multisensory!