Rovers find themselves in the relegation zone after three league games, having opened their campaign with defeats against Manchester City and Sunderland, followed by a 0-0 draw with West Ham.
Finishing has been a key issue, with the team failing in all three fixtures to make the most of dominant spells of possession and a spate of goalscoring opportunities.
Allardyce has been pleased with the performances, but with only one point and one goal on the board, the manager knows his side must secure a win at the weekend by any means necessary.
"It's more important than anything else now," Allardyce said.
"We've had performances with no results, apart from the draw against West Ham.
"What we must do is get the performance with the result, and that needs to be the win - and if we can't get the performance, just win, get three points on the board, which will settle us all down.
"It's going into game four for us and we've been excited about what we've done and how much we have created in those games.
"But at the end of the day, the bottom line is that out of all the chances we have created, out of all opportunities to score goals, we've only scored one.
"There have been one or two cruel blows in terms of wrong refereeing decisions at certain times during the games and that has played its part as well, but the big part is about us needing to improve on our finishing for Saturday."
Sections of the Ewood Park faithful made their displeasure known during a more methodical display against West Ham, but Allardyce insists the tactics were right on the day and a winning goal was all that was lacking.
"They pay their money, they can express whatever opinion they feel they need to based on what has turned up," he said.
"But you have to bear in mind that it was a very hot day, and both teams had played in very competitive Carling Cup ties during the week.
"It wasn't the pace or the level they are used to watching, and we took a different approach based on what was available to us.
"Franco (Di Santo) and Benni (McCarthy) were injured and we had to play Dunny (David Dunn) just off Jason (Roberts), so there was no point in us playing up there as quickly as we normally do because we didn't have the team to do that.
"We played a more patient and cautious game in terms of keeping possession and moving up the pitch a bit slower, so there is some frustration which has come out of that.
"But if you look at the stats, it was a complete dominance of a West Ham side that we should have beaten.
"The frustration is that we are all waiting for the first win - we thought that might be the day, and we didn't get it."
The match against Wolves presents a welcome opportunity to put that right, and Allardyce emphasised that although he holds a close affection for the Midlands club, there would be no room for sentiment on Saturday.
He said: "It's just down the road from Dudley where I was born and I followed them as a schoolboy.
"I had the opportunity to train there, but they never thought I was good enough. I still always looked to see their results though and was an avid follower on the North Bank in my younger days.
"It's good to see them back in the Premier League, where all the Wolves fans have always felt they belonged, and this time they will be going all out with Mick (McCarthy) to try and stay there.
"But from our point of view, it's about making sure that they are disappointed on Saturday."
Blackburn 4/5, Draw 5/2, Wolves 7/2