Conversion efficiency can be measured by tracking the number of new users invited through the viral marketing mechanism and the number of those users who go on to complete the required actions to receive the airdrop. Metrics such as invitation-to-participation rate and participation-to-reward rate can be used to quantify this efficiency.

Tracking these metrics is crucial for optimizing viral marketing campaigns and increasing conversion rates. Consistent analysis will help improve user engagement and maximize airdrop success.