Pete Wild was left “devastated” as Barrow missed out on a League Two play-off place by a single point.
Wild was named March manager of the month after the Cumbrians took 16 points from a possible 18.
But in seven games in April, they managed just two points including Saturday’s draw against already promoted Mansfield.
Kian Spence cancelled out a 16th-minute opener from George Maris in the second half to give Barrow hope of the victory they needed.
But they could not find a winner as the Stags suffered minor disappointment of their own, with Wrexham’s win over champions Stockport costing them the runners-up spot.
Barrow finished eighth, a one-place improvement on last season, but know they squandered a golden opportunity to earn a shot at the fourth promotion place.
“We had enough chances to win two matches but we didn’t take them,” said Wild.
“The fans will be frustrated we haven’t got we wanted over the last month. But you deserve to finish where you deserve to finish over 46 games.
“However, we have improved on last season and two years ago this was a relegation game for the club.
“In the short term we are devastated. But we are moving in the right direction and pleased with the progress.
“When the dust settles and everyone realises the distance this club has come in the last two years, I am sure they will be proud of what happened.
“This will certainly make me better, stronger, better equipped for next season. I was brought here on a long-term plan to try and get this right. We are bang on track.”
Mansfield manager Nigel Clough refused to be too downhearted after his side finished two points behind second-placed Wrexham.
“We are just delighted we are promoted,” he said.
“I have a lot of sympathy for Barrow because we missed out by one goal last season. I know that feeling is not very nice.
“It would have been great to get second place. We had five or six opportunities to get the winning goal.
“But in the course of the whole season we have achieved what we wanted. And it has been a magnificent season.
“We set out one aim last year when we came back training and that was to try and get up. We have done that.”
Keeper Christy Pym made fine saves from Spence and Dean Campbell and Clough admitted: “We were a bit fortunate to go in 1-0 up. Barrow started much the better in the second half as we expected.
“They came out and threw the kitchen sink at us.”
Mansfield celebrate promotion with an open-top bus parade on Sunday but Clough is already plotting for next season.
“It would be nice to try and keep majority of the lads together to give them an opportunity in League One which they deserve,” he said.
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