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Following a horrendous run of form and persistent injuries to key players, the champions now face a tough task of finishing in the top four for the fifth consecutive year under Klopp.
The Reds are currently sixth in the table on 40 points, five points off fourth-placed West Ham. Everton are now level on points with their Merseyside rivals after last weekend's famous derby win, while eight-placed Aston Villa are only four points behind with two games in hand.
Klopp conceded the title had gone for Liverpool a few weeks back after a poor title defence but he feels a top four finish would be something to be proud of.
"Yes it would be big," Klopp said in his press conference ahead of the trip to Sheffield United on Sunday.
"You can see the competitors. It is about what we can bring on the pitch. It is about results. The table doesn't lie. We know that points-wise we are not that far away, but results-wise we are.
"That is what we have to change. We try but while we try and sort one problem another problem occurs. We have to think about Sheffield United. If we can do that then we are maybe a step closer but then Chelsea is coming!"
"So, if we were to do it in the end... yes, it would be big."
Liverpool could yet secure a spot in next year's Champions League by winning Europe's leading club competition for a seventh time.
They currently have one foot in the quarter finals after beating RB Leipzig 2-0 in the round of 16 first leg in Budapest.
Knocked out of both cup competitions as well as falling off in the league, it's been a huge dip in performance levels from Liverpool this term.
However Klopp is adamant the club do not need wholesale changes.
"I don't think it is time for a massive rebuild like how I understand it," the 53-year-old added, as per BBC.
"The squad of this year didn't have the chance to play together one time really. I think it would make sense to have a look at that [problem] but on top of that, of course little readjustments will happen.
"Reacting on the situation but planning at the same time for the future and all these kinds of things. I am not sure we can do that in the summer but that is what we will try."
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