Is this the first grandchild on both sides? If not, find out what the existing grandchildren, who will be cousins to your grandchild, call your DIL's parents and choose something different for yourself. I chose "Gran" as the other grandmother was already "Nanny".
If finances permit, offer to buy a "big" baby item - we bought a next-to-me cot for our first granddaughter and then a toddler bed when the second one came along.
After the birth (we got a phone call at 0300 as she was a week early) ask for photos ASAP and when you can come to visit. We were 90 miles away so turned up with a cottage pie on their second day at home, by invitation. It was much appreciated! We didn't stay over with them, but those newborn cuddles were well worth the 180 mile round trip. After that, we Whatsapped or FaceTimed most days and visited every 3-4 weeks. We must have done something right as we were asked to look after the first child two years later when the second one needed to be induced.
After that, we moved to the same town as our daughter and her family. Girls are now 5 & 3 and I help out with the school/nursery run.