That was their third defeat by a single point this season, having also fallen at home to Leinster and Ulster in the RaboDirect PRO12.
On Saturday they will travel to Parma to take on a Zebre side still searching for their first win of the season, and Smith is adamant lessons must be learnt - particularly when it comes to relieving pressure.
He said: "It happens too often, losing by a point against well-known teams. It's another regret for us.
"Leicester's first try came too easily but the only way we will become stronger is if we can avoid these sorts of mistakes and learn from these games.
"In these games you have to play until the final minute. Our kicking game could have relieved the pressure a bit more if I have to be critical. Our defence was good but we couldn't get the ball away as we should have done.
"The conditions were difficult and with the experience between Geordan Murphy and Mathew Tait they covered the ball well."
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