Lampard’s men led 2-1 at Turf Moor at half time on Wednesday evening, but conceded twice to Burnley in the second half to suffer a damaging defeat.
Everton are just a single point above Burnley in the Premier League standings and face another big game this weekend as Manchester United pay a visit to Goodison Park.
Lampard though has stressed that amid the disappointment it must be remembered that Everton are still outside the relegation zone and above Burnley and Watford.
“As bad as it feels we’re above Burnley, we’re above Watford, so now it’s an absolute reality of where we’re at because of tonight”, Lampard told BBC Radio 5 live post match.
“If we’d taken our chances at 2-1 then the gap looks really nice on an evening.
“And now it isn’t.
“Football tests you.”
Everton will be aiming to take all three points against Manchester United to boost their hopes of survival; the earlier meeting between the two clubs this season ended in a 1-1 draw at Old Trafford.