The quality factor along with electromechanical coupling coefficient (CEMC) is commonly used as a measure of the energy efficiency of a piezoelectric transducer (PT) working as an energy converter. Losses in piezoceramics are phenomenologically considered to have three coupled mechanisms: dielectric, elastic, and piezoelectric. Their cumulative performance first of all determines the PT quality factor characterizing the efficiency of vibrational energy accumulation, and related to it dissipative effects. The extended definition of the PT electromechanical quality factor (EMQ) with permanent energy exchange between electrical source of excitation and PT was proposed. The EMQ analysis has been conducted on the basis of complex material constants for both stiffened and unstiffened canonical vibrational modes. The efficiency of mechanically free and electrically excited piezoceramic transducers in a wide frequency range of PT harmonics, especially between the fundamental resonance and antiresonance frequencies, was investigated, and the effect of piezoelectric loss anomaly with extremely low total losses was predicted. Particularly, optimization of PT excitation with connected reactive (capacitive) element was conducted to provide higher PT mechanical vibrational characteristics with less total losses. The requirements to the piezoceramic material parameters, types of transducer vibrations, and especially to the piezoelectric loss factor in the range of physically valid values were established to provide maximal EMQ.