The Saints remain in the bottom three after The Hawthorns draw and entertain Sheffield United in what promises to be a nail-biting climax to the season on Sunday.
Pearson said: "We're very disappointed not to have won after going in front but this point has given us more of a fighting chance than if we'd lost.
"It drags other teams back into the equation and applies more pressure to them. We now have to make sure we keep our side of the bargain by winning our game because without that it isn't enough.
"It isn't easy going into the last game with things up in the air and out of our hands to a certain extent. But we can take a lot of positives from the performance in terms of commitment.
"If we perform like that on Sunday then we'll have a great chance of winning the game and hopefully staying up."