Have statistics on cold calling/telemarketing success rates?

I started moonlighting 2 hours a night telemarketing for a mortgage broker. This is nonautomated (I dial and wait for them to pick up) cold-calling from a book of leads, all people who took out mortgages 1-3 years ago and MAY be ready to refinance. I get basic info such as dates, lenders, fixed/variable, approx rate.

I got very little training but I have been in sales before and am usually good on the phone. I am supposed to find people ready to refinance and hand them to a loan officer.

The boss has been very disparaging that I’ve only found 2 leads after six 2-hour shifts. I don’t think he realizes most calls don’t answer—either don’t pick up or go to machines. If someone answers, the person I need usually isn’t avail or doesn’t speak English.

Of those I talk to, most aren’t interested—they don’t need to refi, already refi’d, or have someone they want to work with, or just won’t talk to some random company.

How many calls should I realistically make in order to get 1 lead
Um, I am not asking if you think telemarketing is a good job or not. If you can find me a p/t job for just two hours a night, no weekends, paying $ 9.50/hr or more and just down the road from my main job, I will gladly take it.

I’ve been in sales before and I don’t mind rejection but I do mind my boss implying I’m not doing a good job. So for now I am asking about statistics for cold-calling. Thanks.
That article d2bcathie cites is weird. The author says (and Cathie repeats) that one sale in 100-150 calls works out to 5%-10% success. In fact, it works out to 0.66%-1% success.

It also doesn’t apply to me because it pertains to B2B (calling businesses) whereas I am doing B2C (calling consumers).

But at least she tried to answer the question, and I do appreciate that!

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