Although defeat ended the Chiefs' hopes of progressing to the knockout stages in their maiden European campaign, they will be targeting victory over Leinster this Saturday.
And Steenson believes that given their recent home form they will take some beating at Sandy Park - even if they are up against the reigning European champions.
"If you just looked at the scoreline from the Clermont game you would be very disappointed with the result," said the 28-year-old.
"It is important we learn from that game and become better as a squad and as individuals - there are a lot of positives to take and use going forward.
"They were very strong, but there were a few naïve mistakes and some missed opportunities from us - if you take those opportunities you give yourself a chance.
"We created three or four chances to score which proves that when we get things right we can challenge one of the top sides in Europe.
"We lost against arguably one of the best teams in the tournament, but we are still new to this as we have only played five games in the Heineken Cup - we have come a long way.
"Leinster will come here with high intensity levels on Saturday as they will want to leave with maximum points.
"But we are incredibly proud of our record at Sandy Park - we have only lost twice there all season, against Clermont and Northampton.
"We have a good chance of ending our maiden voyage in the Heineken Cup with a 50 per cent win record and we would use that to spur us on in the Premiership."
The Chiefs currently occupy seventh place in the Aviva Premiership, but are just six points behind fourth-placed London Wasps.
And Steenson believes that if he and his Exeter team-mates learn the lessons from their first foray in Europe, they can finish in a coveted top four spot.
"We need to kick on now. We are disappointed with how some recent results have gone for us, but I feel we are always learning and getting better," he added.
"Our focus is now on the top four and we will work hard to make sure that is where we finish, but we are not a club that likes to look too far ahead.
"Personally I feel like I am learning every game I play, and I am delighted to be getting a run in the team.
"We have a great opportunity to put in an improved display this weekend, and we can then take that into the rest of our season."
To see if Exeter can continue their excellent home record against the European champions on Saturday, click here
