Captain Culum Retallick cut a frustrated figure after the contentious final play, but admits his team needed to hold on to the ball more.
"We turned it over a lot, which meant we couldn't build a lot of pressure in the second half. But we will lick our wounds and get ready for next week," he said.
Bay of Plenty head coach Clayton McMillan, who knows a thing or two about Ranfurly Shield heartbreak during his 113 games for the union, says you have to make every opportunity count in a Ranfurly Shield match.
"We were just a little bit short of the mark," McMillan said. "We had an opportunity to nail it right at the end and write a piece of history for the Bay but it wasn't to be.
"We were in the game the whole way but at times we got a little bit impatient. We didn't spend a lot of time in the second half down their end of the field. Had we done that, we would have put them under a bit more pressure than what we did.
"But the guys showed a hell of a lot of fighting spirit. I was proud of the boys' efforts and it could have gone either way at the end.
"The important thing is we learn from this and just continue to grow as a team. We are getting better. We got a point out of it so not all is lost and looking at the big picture, the point is going to count."
Bay of Plenty are third on the ITM Championship table, with that point from Saturday ahead of Southland and two ahead of Otago. The Steamers are away to winless Northland on Friday night, while Otago and Southland play each other on Saturday.
Hawke's Bay Magpies 23 (Ryan Tongia, Tom Stanley, Tony Lamborn tries; Ihaia West con, 2 pen) Bay of Plenty Steamers 17 (Shahn Eru, Nick Evemy tries; Evemy 2 con, pen). Half-time: 11-10 Hawke's Bay
