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These are probably dumb ideas, but whatever. The main idea is dealing with alts in a more immersive environment:
Social Family:
Most people play more than one character. It would be pretty cool to see the "alts" you aren't playing at the time lounging around in your main character's house or the house that you selected as the primary deed. If your alternate characters reside on the same server and faction, you should have the option to share the same last name and home as your main character. These alts should be clickable. If you click on an alt, you should have the ability to set them as a merchant or the ability to swap out and adventure with that character.
Alt Companions (pets):
Most games these days offer companions and/or hired mercenaries. How would you feel about being to take one of your alternate characters with you? Of course, there would need be some form of adjustments required, e.g., alt level adjustment if he or she is higher than the character being played, perhaps limited and dumbed down skill use of the alts, etc.
Again, probably dumb ideas. I'm just bored.