Phase transitions in random systems are smeared if individual spatial regions can order independently of the bulk system. In this paper, we study such smeared phase transitions (both classical and quantum) in substitutional alloys A$_{1-x}$B$_x$ that can be tuned from an ordered phase at composition $x=0$ to a disordered phase at $x=1$. We show that the ordered phase develops a pronounced tail that extends over all compositions $x<1$. Using optimal fluctuation theory, we derive the composition dependence of the order parameter and other quantities in the tail of the smeared phase transition. We also compare our results to computer simulations of a toy model, and we discuss experiments.

6 pages, 4 eps figures included, final version as published