A method of steering a drill bit while drilling a wellbore can include periodically delivering an impact to the drill bit as the drill bit is rotated by a drill string. The impact may be delivered to the drill bit when an axis of the drill bit is oriented in a desired azimuthal direction relative to an axis of the drill string. Another method of steering a drill bit while drilling a wellbore may include interconnecting a bend in a drill string between an impact tool and the drill bit, and periodically delivering an impact from the impact tool to the drill bit as the drill bit is rotated by the drill string. A directional drilling system can include a drill string having a bend interconnected therein, an impact tool, and a drill bit, the bend being interconnected in the drill string between the drill bit and the impact tool.