I LOVE LOVE LOVE tallow balm. My understanding is that tallow is closest of all the animal fats to our skin's lipid profile.
On my skin, it absorbs easily, is non-greasy, and makes for very soft skin. IMO, it does need to be mixed with a liquid oil to be spreadable. I have mixed it with jojoba, argan, meadowfoam seed, and chamomile-infused or calendula-infused avocado oil. While I like the first three the best, I often default to avocado due to cost, or because it is what I have on hand.
Well-rendered tallow should have almost no smell, but I use EOs in mine anyway: chamomile, lavender, rosehip seed, geranium, litsea cubeba - any non-sensitizing EO. As someone who is very reactive to even diluted EOs on my skin (rapid heart rate, raised BP, etc.), I generally add the lower end of the skin-safe usage rate found on EOCalc.com or Tisserand.
ETA: Sweet almond oil and apricot seed oil are other nice oils to mix into a tallow balm!