West Ham manager Alan Pardew said the club faced a summer of tough decisions after their play-off final defeat.
"We will let this defeat sink in and look at it in the cold light of day, making decisions that hopefully will take the club forward," said Pardew.
"The reality is that the financial position of the team that gets promoted and the one that stays behind is a tough one, but we will face it.
"Crystal Palace have had a great run and we don't begrudge them the win."
Neil Shipperley scored the only goal of the game in the second half to seal a narrow win for the Eagles.
"It has been a tough day for us, all the season's work goes out in 90 minutes," said Pardew.
"Both teams were diligent and well organised, so it was a tough game of few chances. Unfortunately for us they took theirs and we did not take ours.
Pardew told his players to harness the bitter feelings of defeat and use them to their advantage.
"There is not much you can say," reflected Pardew. "Just try and keep your frustration in, pay respect to the opposition and make sure that feeling you have got, you take with you for the rest of your career because you never want it again."