SAN JOSE, Calif. — Microsoft’s new strategy for beating Google can be summed up in three words: Share the wealth.

Microsoft Chairman Bill Gates announced the company’s “Live Search Cashback” service Wednesday morning at an annual conference for online advertisers hosted by Microsoft in Redmond, Wash.

The service rewards a cash refund to people who use Microsoft’s Live search engine to purchase products online. “We want to earn your loyalty and reward it with cashback savings for your everyday online shopping,” the giant software maker said in a statement posted on its company Web site.

The new initiative comes as Microsoft works to close a complex search advertising deal with Yahoo that will provide Microsoft with the audience it needs to compete with Mountain View, Calif.-based Google, which dominates search advertising by a wide margin.

Microsoft withdrew a $47.5 billion bid to buy Yahoo outright on May 3, after the Sunnyvale, Calif.-based search engine’s board of directors insisted on a higher price.

The cash-back deals offered Wednesday morning included a 5 percent rebate on a Canon Powershot digital camera, a 15 percent rebate on Adidas running shoes and a 12 percent rebate on Oakley Monster Dog sunglasses.

To receive the rebates, people have to register for a free account with Microsoft. Once someone’s total cash-back rebate amount equals $5 or above, the money can be deposited in a bank account or a PayPal account, or sent as a check in the mail.