I was thinking about ground up with salt, anise, and a little smoke

That should work, sans the smoke.

Dont add anything to crawdads. Seine them up and run them through a grinder as soon as you get home. It will be summer if your seining crawdads. Leave the fresh ground crawdads sit out overnight. 8 hours is plenty. You dont want a strong taint. 8 hours makes them just a little "louder". Then freeze. Thats it. Thaw them out to use them. If your in a boat and its cold fill a jar with hot water. Put it in a cooler with your crawdads to keep them thawed till you use them. Ground will keep them there longer to get all the bait. Ground crawdads like that is almost the magic in a jar everyone wants. Even in the winter coons want them. They just cant find them. It is without a doubt a preferred food of the masked gluten's,

Danny's recipe is one of my favorite pocket set baits for coon and mink. Fresh ground crawdad with slight zing before frozen.
Also works great for coon and coyotes in dirtholes after creeks freeze up, too.
Don't add anise (maybe it will work but not needed in my experience) or the salt either.
Jim

You can make crayfish oil by going through the same process you would to make fish oil but by using crayfish.