A game I played had a defend mechansim where a character could defend instead of attacking. This would skip your chance to attack, but would reduce the damage done to said character. This was especially interesting when battling ranged units.
I didn't read all the other comments, so I might be repeating something. But with SillyCow's comment as a basis, here what I feel:
Imagine a game where, in your own turn, you attack and the opponent can defend. Vice versa in his turn. Depending on what you choose to defend and how you defend against it, that will affect how you can counterattack him in your next turn. This way, you will get a turn-based game that is also, to some lesser extent, reactive and immediate.
Consider a turn-based card game such as Magic: The Gathering. The entities are cards but the principles are very much the same. You have the ability to play certain moves at certain phases of either your turn or the opponents. Depending on what you specifically play, this can have consequences (either good or bad) for any of the subsequent turns. On one hand, you might play a powerful Wrath of God or Armageddon spell that kills all in-game creatures or lands respectively, including your own. On the other hand, you might want to place that extra Land or other ability that either gradually (over time) or instantly (after a countdown) makes you stronger.
Now try implementing these mechanics into a turn-based fighting game between 2 Bushi. No armies, no lands, just the Bushi/Samurai in a turn-based version of Street Fighter or Mortal Kombat. Instead of creatures, you could have Chi buffs in soft spots that the opponent could try to attack with his moves. Instead of Lands, you could have Mindlessness or similar that over time gives you a greater ability to recall the various sword moves that you've learned thus far. The sword and other attack moves would be the equivalent to the spells in MtG. And so on.
Shouldn't be too hard.