The England captain has put talks over a new contract on the back burner, and believes inconsistency has cost the Anfield club a shot at the Champions League next season
Brendan Rodgers' side is currently seventh in the Premier League table, seven points behind Chelsea in fourth, and though it still retains a slim chance of reaching the Champions League, the Reds captain says it will edge closer with some more key additions.
"We know what the problem is and it's inconsistency," Gerrard told reporters. "In the minority of games we've played well enough to be higher than where we are in the league.
"But when you look at performances like Southampton, Villa at home, West Brom away, Arsenal at home, there's a handful of games where this team hasn't turned up.
"That's the reason why we are sitting where we are in the table. In between those games there have been some fantastic performances, well worth a top four finish. So we know we're not far away.
"But I think if you say that you haven't got what you deserved then there's an element of feeling sorry for yourself.
"If there's a few improvements in the summer to the squad, we believe we can put in a better challenge to the top four next season."
Despite Rodgers confirming Gerrard will be offered a new contract in the near future, the 32-year-old is maintaining his focus on finishing the season well.
"For me, [a new contract] is not a priority at the moment," he added.
"The most important thing for me now is to move on to the West Ham game. I want to finish the season strong. I'm feeling good.
"Of course, I'm happy that the club are mentioning new contracts, but it's not important at the moment.
"What we need to do is put pressure on for that European place. A lot of the teams above us need to play each other. We're hoping there's a few slip ups above us and we can capitalize, but it's important that we take maximum points."