The Gunners boss has confessed to being "hurt" by Arsenal's league performances after they slumped to a 1-0 loss to relegation-threatened Aston Villa.
Arteta reflected: "It has to hurt and we have to suffer, it's not good enough for this club. We need to improve in many areas, the team and individually."
The Villa defeat means Arsenal are now poised for their worst league finish since 1995.
And during the game at Villa Park, a plane flew a banner across the ground reading "Back Arteta Kroenke Out" - in reference to Arsenal owner Stan Kroenke.
Arteta told the BBC: "The Kroenkes and the board and the sporting director, I have their full backing. I have that 100 percent - the fans have to believe what I'm saying.
"We are putting a strong plan together to do as much as we can in a short period and the league table doesn't lie.
"The top teams in certain areas are better than us. We know the challenge, it's really big and we're excited for what we have ahead of us."
Midfielder Granit Xhaka also blasted Arsenal's performance in their defeat to Villa.
He said: "In my opinion you can't come here and play like this.
"It's not good enough and you can't play with this mentality. We could have got into the Europa League, but now we have to win the FA Cup and we have more pressure.
"But we will do everything to win the FA Cup now."