If you want to experiment you can play with using compressors in a series/parallel mix. You can send your signal to the input of two devices, say an amp and a low pass filter. The output from the filter can go through a compressor and be added to the amp input. This is a simple example, you can make it as complex as you want. Basically, you will be compressing low frequency components of your signal as well as having a straight signal. If you send your bass to the inputs of a low pass AND a high pass filter and you use a compressor after the LPF, this is a more accurate method.
Here, you'd be compressing in the frequency domain. You can even compress in the time domain but that means compressing after the wet output of a delay.
In a straight set up (serial, one after another) you're compressing in the amplitude domain. Use filters in parallel and you're using the frequency domain. There are endless possibilities!
Is this clear? I really need to draw diagrams ... but remember to mix it up and have fun! You may find some crazy set up that you like.
 
Cheers,
Jas

Interesting ideas; I'll give that some thought when I start in on reviewing my setup.  Thanks!