Recent technical advances have sparked renewed interest in physical systems that couple simultaneously to different parts of the electromagnetic spectrum, thus enabling transduction of signals between vastly different frequencies at the level of single quanta. Such hybrid systems have demonstrated frequency conversion of classical signals and have the potential of enabling quantum state transfer, e.g., between superconducting circuits and traveling optical signals. This article describes a simple approach for the theoretical characterization of the performance of quantum transducers. Given that, in practice, one cannot attain ideal one-to-one quantum conversion, we explore how imperfections impact the performance of the transducer in various scenarios. We quantify how knowledge of the well-established transducer parameters signal transfer efficiency eta and added noise N suffices to assess its performance in a variety of transduction schemes ranging from classical signal detection to applications for quantum information processing.