We report measurements of activity coefficients and derived excess partial molar enthalpies and entropies of mixing for 17 hydrocarbon probes in three low molar mass liquid crystals as well as a polymeric version containing the same mesogenic group. Values were obtained in the isotropic liquids and in N, SmA, SmC, and N* mesophases. The results are interpreted in terms of a qualitative, descriptive model accounting for the various contributions to the energetics and the entropic effects of probe-LC interactions. The behaviour of the LC polymer was found to be determined largely by the interactions with the mesogen while the polymer backbone had a relatively minor effect.