The Scottish giants were beaten 2-1 by Motherwell on Saturday in their first home match since Philippe Clement's sacking.
Ferguson has since taken charge until the end of the season after returning to Ibrox - 16 years after departing as a club legend.
However, it wasn't the homecoming he had been hoping for as first half goals from Luke Armstrong and Tom Sparrow proved to be the difference for the visitors.
Despite Cyriel Dessers pulling one back for the hosts after the break, Ferguson made unwanted history as he saw his side fall to defeat.
The 47-year-old has become the first Rangers boss to lose his first home league match for 42 years.
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Tommy McLean was the last manager to suffer the fate after a 2-1 loss to Celtic in November 1983.
Speaking after the match, Ferguson declared that his side will be well beaten by Jose Mourinho's Fenerbahce in next week's Europa League last-16 first leg if they play like that again.
He said: "It's clear they will suffer a heavy defeat. Listen, I'm not going to sit here and try and kid people on.
"That level of performance, certainly in the first-half, is nowhere near the standards that are needed.
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"It's my job now in this short period of time and I'm going to just go and work my backside off to make sure this gets sorted.
"I spoke to them in the dressing room, they understand it. Listen, Rangers fans can accept you not playing well.
"What Rangers fans can't accept is when your team gets run over the top of in the first 45 minutes.
"Yeah, we created a few half chances, but I said on Friday, when you're playing at Ibrox, you need to be the dominant force.
"Yet Motherwell dominated us in the first-half. Did we dominate them in the second half? At times, but not enough."
Rangers had recovered from 2-0 down to win 4-2 at Kilmarnock on Wednesday in Ferguson's first match in temporary charge.
However, it is now six league defeats for the club this season and two in a row at home following last weekend's reverse against St. Mirren.
The latest loss also leaves Ferguson's side 14 points adrift of bitter rivals Celtic with just nine matches remaining.
His Rangers role follows spells in charge of Clyde, Kelty Hearts and Alloa since retiring in 2015.
Ferguson also had a brief spell as caretaker manager at former club Blackpool before hanging up his boots.
As a player, the former midfielder made 409 appearances for Rangers, scoring 57 goals.
He also won 16 trophies with the club including six league titles.
At international level, Ferguson scored three times in 45 caps for Scotland during his career.
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