Used economically and cleverly replacement animation can really surprise your audience and be a lot of fun. You are creating some of the magic, (so easily available with drawn animation) and using it within cut-out animation.
It is relatively easy to create replacements in cut-out animation but quite laborious in stop-motion
For each frame of a balloon blowing up you place, a new, slightly larger balloon where the last one was. This is relatively easy as a balloon can be a flat single colour. It's more tricky if your story involves an inflating head.
Replacement animation is also known as substitution animation
With explosions, smoke, water squirts, etc - the start of the movement is considerably easier to create than the fade and dissipation at the end.
For the first frame place a small compressed piece of cotton wool, stretch this for the second frame, replace with a new larger piece for the next frame, and so on, until you have created a blob that can float off. Then start another blob of smoke.