Assuming you are using a QC2 or QC3. If it is not one of these then you need an external amplifier, as others have said.
If you have an original Bose QC2/3 headset and cord there is a switch on the end of the cord that goes into the headset. Pull the cord out of the headset and make sure the switch is set to the "Hi" position.
Bose also makes a replacement cord specifically for the iPhone. If you have purchased one of these cords the volume should be quite loud, as the Bose has a built in amplifier.
In either case make sure the battery in the headset is fresh.